Course content

90 lessons

1.2 · The accounting equation and the double-entry rule

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1.2, 1.4 · Books of prime entry and the ledger

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1.5-1.6 · From trial balance to the income statement

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1.5 · The statement of financial position

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1.5 · Adjustments: accruals, prepayments and irrecoverable debts

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The prepayment entry

From cash paid to the charge for the year

Rent accrues evenly, payments do not

An accrual creates a liability

Irrecoverable debts and the allowance

Every adjustment appears twice

Your turn: the charge for the year

One exam question, end to end

1.3 · Depreciation of non-current assets

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1.1, 1.5, 3.1 · Sole trader, partnership and limited company

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1.6, 3.5 · Ratio analysis and interpreting the statements

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1.4 · Sales and purchases ledger control accounts

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1.5 · Incomplete records

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3.1 · Clubs and societies

1.5 · Adjustments: accruals, prepayments and irrecoverable debtsLesson 2 of 10Free preview

The accrual entry

Post an unpaid electricity bill, and see which two accounts an accrual touches.