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Financial Accounting for Senior Schools

Financial Accounting for Senior Schools

Book Code : SWX012

Author : SUL

Book Format : Interactive eBook(epub3)

Categories : Financial Accounting


Price : 450

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1. Introduction to Financial Accounting

1.1 History, nature and functions of Accounting

1.2 Users of Accounting information

1.3 Stages in the Accounting process

1.4 Characteristics of accounting information.

2. The Accounting Equation and Double Entry Principles:

2.1 Accounting Equation

2.2 Purpose and functions of source documents

2.3 Subsidiary books

2.4 The ledger: classification of Accounts

2.5 Cash Book: analytical cash book, including petty cashbook

2.6 Preparation of Trial Balance

2.7 Bank Reconciliation Statements

2.8 Correction of errors and Suspense Account

3. Accounting Concepts

3.1 Meaning

3.2 Types

3.3 Significance

3.4 Limitations

4. The Final Accounts of a sole trader / proprietorship

4.1 Trading, profit and loss accounts/Income statement

4.2 Balance sheet/statement of financial position

4.3 Adjustments to final accounts

5. Provisions and Reserves

5.1 Provision for doubtful debts/Allowance for doubtful debts

5.2 Provision for discounts

5.3 Depreciation– concepts, reasons for recording and methods

5.4 Accounting for depreciation

5.5 Reserves–revenue and capital reserves.

6. Manufacturing Accounts

6.1 Purpose of Manufacturing Account

6.2 Cost classification in Manufacturing Accounts

6.3 Preparation of final Accounts of Manufacturing concern

7. Control Accounts and Self- balancing Ledgers

7.1 Meaning and uses of control accounts

7.2 Types

7.3 Preparation of Control Accounts

7.4 Reconciliation of Control Accounts

8. Single Entry and Incomplete Records

8.1 Meaning and limitations

8.2 Computation of profit or loss from opening and closing balance sheets

8.3 Conversion of singe entry to double entry

8.4 Preparation of final accounts from a set of incomplete records

8.5 Mark up and Margin

9. Accounts of Not-for-Profit Making Organization

9.1 Receipts and payments accounts

9.2 Subscriptions Accounts

9.3 Income and expenditure accounts

9.4 Accumulated funds

9.5 Balance sheets

9.6 Profit or loss from income generating activities

10. Partnership Accounts

10.1 Nature and formation of partnership

10.2 Partnership agreements/Deed

10.3 Profit and loss appropriation accounts

10.4 Partners capital account and balance sheet

10.5 Admission of a new partner

10.6 Treatment of good will and revaluation of assets

10.7 Dissolution of partnership

11. Company Accounts

11.1 Nature and formation of a company

11.2 Types of companies and shares

11.3 Issue of shares

11.4 Loan capital, debentures/loan notes and mortgages

11.5 Final accounts of company for internal use only

11.6 Interpretation of accounts using simple ratios

11.7 Purchase of business account

11.8 Statement of Cash Flow (using direct and indirect methods)

12. Accounting for Value Added Tax

12.1 Purpose of VAT.

12.2 Characteristics of VAT

12.3 Bases of computing input/output VAT

12.4 Preparation of VAT return

12.5 Exempt goods and services

13. Departmental and Branch Accounts

13.1 Meaning and importance

13.2 Differences between a department and branch

13.3 Preparation of departmental account

13.4 Preparation of Branch Account excluding foreign branches

13.5 Inter branch transactions

14. Public Sector Accounting

14.1 Meaning and difference between Public Sector and Private Sector Accounts

14.2 Sources of public revenue

14.3 Capital and recurrent expend

14.4 Preparation of simple government accounts

15. Information Technology in Accounting

15.1 Manual and computerized Accounting Processing Systems

15.2 Processes involved in data processing

15.3 Computer Hardware and Software

15.4 Merits and demerits of manual and computerized accounting processing system

16. Miscellaneous Accounts

16.1 Joint Venture Accounts

16.2 Consignment Accounts

16.3 Contract Accounts

16.4 Hire Purchase Accounts

17. Financial system

17.1 Meaning and components

17.2 Meaning, functions and features of Money market

17.3 Methods of raising funds from the capital market

17.4 Requirements for accessing the capital market

17.5 Benefits of capital market to investors, government, economy, individual Company.

17.6 Types, features and reasons for regulation