A LevelAccountingCambridge (CIE)Fundamentals of Financial Accounting

Fundamentals of Financial Accounting (Cambridge (CIE) A Level Accounting)

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Types of Business Entity

  1. Sole Traders, Partnerships & Limited Companies
  2. Sources of Finance

The Accounting System

  1. The Accounting Process
  2. Transactions with Cash, Credit & Discounts
  3. Books of Prime Entry
  4. The Ledger
  5. The Accounting Equation
  6. The Double Entry System
  7. Double Entry for Sale Transactions
  8. Double Entry for Purchase Transactions
  9. Double Entry for Dishonoured Cheques
  10. Double Entry for Refunds
  11. Double Entry for Other Transactions
  12. Balancing Accounts
  13. The Cash Book
  14. Interpreting Accounts and Their Balances
  15. Transferring Balances at the End of an Accounting Period
  16. Accounting Concepts
  17. Computerised Accounting Systems
  18. Full & Incomplete Records

Capital & Revenue Income and Expenditure

  1. Capital & Revenue Expenditure
  2. Capital & Revenue Income
  3. Effects of Incorrect Treatment of Expenditure & Income

Accounting for Non-current Assets

  1. Introduction to Depreciation
  2. Straight-Line Method of Depreciation
  3. Reducing Balance Method of Depreciation
  4. Revaluation Method of Depreciation
  5. Provision for Depreciation
  6. Profit or Loss on a Sale of a Non-Current Asset
  7. Disposal Account
  8. Journal Entries for Non-current Assets

Accounting for Accruals, Prepayments & Irrecoverable Debts

  1. Matching Costs & Revenues
  2. Accrued & Prepaid Expenses
  3. Accrued & Prepaid Incomes
  4. Amount Due & Amount Paid/Received
  5. Expense Accounts with Accruals & Prepayments
  6. Income Accounts with Accruals & Prepayments
  7. Irrecoverable Debts
  8. Allowance for Irrecoverable Debts

Reconciliation & Verification

  1. Methods of Reconciliation & Verification
  2. The Trial Balance
  3. Types of Errors
  4. Correction of Errors Using Journal Entries
  5. Omission, Original Entry, Reversal, Commission, Principle & Compensating Errors
  6. The Suspense Account
  7. Sales Ledger Control Accounts
  8. Purchases Ledger Control Accounts
  9. Reconciliation Statements Between Control & Ledger Accounts
  10. Using a Bank Statement to Update the Cash Book
  11. Bank Reconciliation Statements
  12. Impact of Errors on Profit & Financial Position

Adjustments to Draft Financial Statements

  1. Adjustments for Depreciation
  2. Adjustments for Allowances for Irrecoverable Debts
  3. Adjustments for Accrued & Prepaid Expenses
  4. Adjustments for Accrued & Prepaid Income
  5. Adjustments for Inventory Valuation
  6. Adjustments to Financial Statements

Preparation of Financial Statements for Sole Traders

  1. Statement of Profit or Loss
  2. Statement of Financial Position
  3. Statement of Affairs
  4. Calculating Values using Control Accounts
  5. Calculating Values using Accounting Ratios

Preparation of Financial Statements for Partnerships

  1. Partnership Agreement & Partnership Act 1890
  2. Statement of Profit or Loss
  3. Appropriation Account
  4. Capital & Current Accounts
  5. Statement of Financial Position

Preparation of Financial Statements for Limited Companies

  1. Share Capital & Reserves
  2. Ordinary Shares & Debentures
  3. Rights & Bonus Issues
  4. Statement of Profit or Loss
  5. Statement of Changes in Equity
  6. Statement of Financial Position
  7. Journal Entries for Equity Accounts

Accounting Information & Ratios

  1. Stakeholders
  2. Profitability Ratios
  3. Liquidity Ratios
  4. Efficiency Ratios
  5. Evaluating Profitability, Liquidity & Efficiency
  6. Limitations of Accounting Information
Cambridge (CIE) A Level Accounting Past Papers