Post Views: 0 There are several organizations that are established and run for the purposes of meeting the social, cultural, health and , at times, educational needs of the citizens.… Read More »ACCOUNTS FOR NOT-FOR-PROFIT ORGANIZATIONS LEARNING OBJECTIVES
Post Views: 1 Introduction This topic is about how to prepare trading, profit and loss account under an incomplete record or single-entry accounting system. Meaning This is system of accounting… Read More »SINGLE ENTRY AND INCOMPLETE RECORDS
Post Views: 0 Under a situation whereby a firm or business accounting records were destroyed as a result of fire, flood or any other forms of natural disasters, such firm… Read More »ACCOUNTING RATIOS AND INCOMPLETE RECORDS
Post Views: 0 Partnership changes usually occur during a financial year and the accounting records are contrived without interruption. Final accounts are prepared at the end of the financial year.… Read More »ADMISSION OF NEW PARTNER AND RETIREMENT OF AN EXISTING PARTNER IN CONTINUING BUSINESS
Post Views: 0 Goodwill is the amount by which the value of a business as a going concern exceeds the value of its net assets, if they were sold separately.… Read More »GOODWILL
Post Views: 0 This is similar to the two column cash book except that the discount column is added to both the debit side and the credit side. The debit… Read More »THE THREE – COLUMN CASH BOOK
Post Views: 0 There are two main classes of ledger accounts. These are Personal Accounts Impersonal Account. Impersonal Accounts are sub-divided into two, namely real account and nominal account. (1) … Read More »CLASSIFICATION OF LEDGER ACCOUNTS
Post Views: 0 THE LEDGER This is the principal book in which accounts are kept. These accounts are usually referred to as ledger accounts. They are so called because each… Read More »CLASSES OF LEDGER
Post Views: 0 BOOK-KEEPING CLASS: SS 2 Revision of 1st Term work Classes of ledger State classes of ledger Identification of the column of a ledger Classes of ledger Posting… Read More »BOOK-KEEPING 2ND TERM SCHEME OF WORK
Post Views: 0 Definition: Double entry book keeping is the system of keeping account, which take advantages of the two-fold aspect of every transaction, whereby one account that receives is… Read More »PRINCIPLE OF DOUBLE ENTRY
Post Views: 1 Contra is a latin word which shows that cash has been withdrawn from the office and deposited in the bank or withdrawals of cash from bank for… Read More »CONTRA ENTRY
Post Views: 0 Meaning: The two column Cash book so-called because for both debit and credit entries, it has two columns, one for recording cash transactions and the other for… Read More »DOUBLE COLUMN CASH BOOK
Post Views: 1 INTRODUCTION: This is the book for recording receipts and payments of money in cash or cheque. NOTE: No credit transaction should be recorded in the cash book.… Read More »Single Column Cash Book
Post Views: 0 Methods of stocks valuation are devices which aim to deal with some of the problems. W shall consider some of those commonly adopted. (I) FIRST-IN-FIRST OUT (FIFO)… Read More »STOCK VALUATION
Post Views: 1 This is similar to the two column cash book except that the discount column is added to both the debit side and the credit side. The debit… Read More »THE THREE – COLUMN CASH BOOK
Post Views: 2 There are two main classes of ledger accounts. These are Personal Accounts Impersonal Account. Impersonal Accounts are sub-divided into two, namely real account and nominal account. (1) … Read More »CLASSIFICATION OF LEDGER ACCOUNTS
Post Views: 1 THE LEDGER This is the principal book in which accounts are kept. These accounts are usually referred to as ledger accounts. They are so called because each… Read More »CLASSES OF LEDGER
Post Views: 2 Meaning THE ACCOUNTANT POINT OF VIEW Accountants define capital as the original fund or money with which a person used to start a business. He considers… Read More »SOURCES OF CAPITAL
Post Views: 2 THE SOLE TRADER The sole trader or the sole proprietor is a person who owns and runs a business i.e by himself and for himself. FEATURES… Read More »THE SOLE TRADER
Post Views: 0 Business: The term “business” describes the activities of individuals, institutions organizations to promote and distribute goods and services satisfying human wants in the society at large. Objectives… Read More »BUSINESS ORGANISATION