• Increase font size
  • Default font size
  • Decrease font size
You are here: IGCSE Accounting Source and recording of data

Want to find out more ? Type here


Sources and recording of data

Learning outcomes

At the end of this unit

The double entry system of book-keeping

  • explain the meaning of assets, liabilities and owner’s equity (capital)
  • explain and apply the accounting equation
  • outline the double entry system of book-keeping
  • process accounting data using the double entry system
  • recognise the division of the ledger into the sales ledger, the purchases ledger and the nominal (general ledger).

Business documents

  • recognise and understand the following business documents: invoice, credit note, debit note, statement of account
  • complete proforma business documents
  • understand the use of business documents as sources of information.

Books of prime (original) entry

  • explain the advantage of using various books of prime entry
  • explain the use of, and process, accounting data in the books of prime (original) entry – cash book, petty cash book, sales journal, purchases journal, sales returns journal, purchases returns journal and the journal
  • post the ledger entries from the books of prime (original) entry
  • distinguish between and account for trade discount and cash discounts
  • explain the dual function of the cash book as a book of prime (original) entry and as a ledger account for bank and cash
  • explain and apply the imprest system of petty cash.

The ledger

  • prepare ledger accounts in either “T” account format or running balance format
  • post transactions to the ledger accounts
  • balance ledger accounts as required and make transfers to final accounts
  • interpret ledger accounts and their balances.
  • Revision Notes ( 7 Articles )
  • Interactive quizzes ( 12 Articles )

Facebook Comments

Share on Myspace

Content of this website is protected by copyright laws. Please refer to our terms of use