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1.

BUSINESS
TRANSACTION AND
DOCUMENTS
(a) Type of Business
Transactions
Sales, Purchase, Receipts,
Payments, Petty cash, Payroll
(b) Types of business
documentation
Quotation, Sales and
purchase orders, Delivery
note, Invoice, Credit note,
Debit
note, Statement, Remittance
advice, Receipt, Internal
cheque requisition, Petty cash
claim, Pay slip
(c) Basic principles of
regulation and
business policies
Contract law, Regulation of
sale of goods, Document
retention policies data
protection
2. DOUBLE ENTRY
BOOK KEEPING
a) Double entry
transactions
Nature and functions of
primary records, Types of
ledger accounts, Posting by
means of
double entry, balancing of
ledger accounts
(b) Classification of
expenditure
Capital, Revenue
(c) The accounting equation
3. BANKING AND PETTY
CASH
(a) Source of funds and
documentation
Types of receipts (: cash,
cheques, standing orders,
direct debits, credit card, debit
card, and BACs, Supporting
information, credit note,
remittance advice, statement,
Unusual features: wrongly
completed cheques, out-of-
date cheques, credit and
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debit card limits exceeded,
disagreement with /
insufficient supporting
documentation
(b) Banking monies
received
Banking documentation:
paying-in slips, credit and
debit card documentation,
Methods
of handling and storing
money, including security
aspects.
(c) Recording payments
and monies received
Manual cash book, Manual
general ledger and
receivables ledger,
computerized
records
(d) Authorizing and
making payments
Documentation: cheque
requisitions, Authorization
(e) Bank reconciliation
General bank services and
operation of bank clearing
system, Function and form of
banking documentation, Bank
reconciliation statement
(f) Maintaining petty
cash records
Documentation: petty cash
records, Authorization,
Security of cash, Queries:
unauthorized claims for
payment, insufficient
supporting evidence, claim
exceeding
authorized limit, Manual petty
cash book, Imprest and non-
imprest methods.
Reconciliation of petty cash
book to cash in hand
4 SALES AND SALES
RECORDS
(a) Sales and sales tax
returns
Source documents, Invoices
and credit notes, General
principles of a sales tax,
Types
of discount, Methods of
coding data, Sales day book,
Sales returns day book,
Authorization
(b) Recording sales
Manual general ledger,
Manual receivables ledger,
computerized ledgers,
Statements,
Aged receivables analysis,
Communication with
customers (orally and in
writing),
Credit limits, Bad debts
5 PURCHASES AND
PURCHASE RECORDS:
(a) Purchases and
purchase returns
Ordering systems: Internet,
verbal, written, Source
documents, Suppliers
invoices and
credit notes, Types of
discount, Methods of coding
data, Purchase day book,
Purchase
returns day book
(b) Recording
purchases
Manual general ledger,
Manual payables ledger,
computerized ledgers,
Statements,
Aged payables analysis,
Communication with
suppliers: (orally and in
writing), incorrect
calculations, non-delivery of
goods charged, duplication of
invoices, incorrect discounts.
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6 PAYROLL
(a) Recording payroll
transactions
Documentation: pay slips,
Authorization, Payment
methods: cash, cheques,
automated
payment, Queries, Security
and control, Cash book,
General ledger
7 ACCOUNTING
STANDARDS,
PRINCIPLES AND
POLICIES
(a) Accounting
standards (IASs and
IFRSs)
(b) Accounting
principles
Going concern, Accruals,
Consistency, Prudence
(c) Accounting policies
Relevance, Reliability,
Comparability,
Understandability
8. NON-CURRENT
ASSETS AND
DEPRECIATION
(a) Non-current assets
Acquisitions, asset register,
Accounting treatment,
Disposal, Part exchange,
Authorization maintenance of
capital records.
(b). Depreciation.
Straight line, reducing balance
9. CONTROL
ACCOUNTS,
RECONCILIATIONS AND
ERRORS.
(a). Reconciliation
Payables ledger
reconciliation, Receivable
ledger reconciliation, bank
reconciliation
(b). Identification of
errors
Incorrect double entry,
Missing entries, insufficient
information
(c). Correction of errors
Suspense account, Journal
entries
10. ADJUSTMENTS TO
THE TRIAL BALANCE.
Accruals and prepayments,
Depreciation, Bad and
doubtful debts, Closing
inventory (and
inventory valuation), extended
trail balance, Provisions
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