The three column cash book is one of the subsidiary books of account used to record cash and bank transactions in addition to: Answer: Discounts received and discount allowed. An invoice is used to prepare the: Answer: Sales day book. The documents that are exchanged between buyers and sellers which are binding on both parties
Book Keeping SS 1 Third Term Lesson Notes SS 1 OMEGA TERM BOOK- KEEPING SCHEME OF WORK WEEK 1 Revision Petty cash book —Meaning of petty cash book ___ Classification of columns __posting of transaction
EXAMINATION MALPRACTICES MAY LEAD TO A REPEAT OF THE SUBJECT OR SUSPENSIONS. DON’T BE INVOLVED. SUBJECT: BOOK KEEPING TIME: 2 HOURS 30 MINUTES CLASS: SS 1 OBJECTIVES Understand the concept and importance of book keeping. Identify and describe key book keeping terms and concepts. Apply book keeping principles to solve problems. SECTION A Choose the
S S ACCOUNTING 1. The term “accounting period” is used to refer to the A. time span during which taxes are paid to the inland revenue board B. budget period, usually one year, relied on by the accountant C. time span, usually one year, covered by financial statement D. period within which debtors are expected
ACCOUNTING CONCEPTS AND CONVENTIONS CONTENT Meaning of Accounting Concepts Major Accounting Concepts Accounting Conventions Meaning of Accounting Concepts Accounting concepts which is also referred to as principles and fundamental accounting postulates, are rules adopted as guides to actions in preparation of accounting statements. Major Accounting Concepts The following are the major accounting concepts Entity
Subject: ACCOUNTING Term: FIRST TERM Week: WEEK 4 Class: SS 1 Topic: PRINCIPLES AND PRACTICE OF DOUBLE ENTRY Behavioural objectives: At the end of the lesson, the learners will be able to Explain the rule of double entry apply the rules of double entry Previous lesson: The pupils have previous knowledge of ETHICS
ETHICS OF ACCOUNTING CONTENT Meaning of Ethics Meaning of Accounting Ethics Qualities of Accountants and Accounting Ethics Benefits of Accounting Ethics to the Accounting Profession and the Public (Society) Meaning of Ethics Ethics can be defined as established codes of conduct, modes of behavior, pattern, practice, standard and principles generally accepted or strictly adhered
BOOK KEEPING AND ACCOUNTING CONTENT The Need for Book-keeping and Accounting The Need/Importance of Book-keeping Users of Accounting Information Qualities of Accounting Information Limitations of Accounting Information The Need for Book-keeping and Accounting The recording phase of accounting is known as the book-keeping. The practice of accountancy will be virtually impossible if there is no
Subject: ACCOUNTING Term: FIRST TERM Week: WEEK 8 Class: SS 1 Topic: TYPES OF DISCOUNTS Behavioural objectives: At the end of the lesson, the learners will be able to explain the meaning of discounts identify various types of discounts explain the types of discounts in accounts distinguish between cash discount and trade discount. Previous
SCHEME OF WORK 1 1st TERM ACCOUNTING SS 1 WEEK TOPIC BOOK KEEPING AND ACCOUNTING THE NEED FOR BOOKING AND ACCOUNTING ETHICS OF ACCOUNTING PRINCIPLES AND PRACTICE OF DOUBLE ENTRY ACCOUNTING CONCEPTS AND CONVENTIONS THE USE OF GENERAL JOURNALS AND OPENING AND CLOSING ENTRIES OF GENERAL JOURNALS. CORRECTION OF ERRORS TYPES OF DISCOUNTS ANALYTICAL CASH
