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Financial Accounting Notes

Final Accounts – Accruals And Prepayments

ACCRUALS The accrual concept states that revenue and expenditure of a period should be matched together – whether or not […]

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Financial Accounting Notes

Final Accounts – Provision For Discounts

If a trader usually allows and receives cash discounts the debtors and creditors balances in the Balance Sheet at the […]

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Financial Accounting Notes

Final Accounts – Provision For Doubtful Debts

PROVISION FOR DOUBTFUL DEBTS Although a debt may not actually have become bad, there may be doubt as to whether […]

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Financial Accounting Notes

Final Accounts – Special Transactions; Bad Debts, Closing Entries

CONTENT SPECIAL ITEMS OF EXPENSES/LOSSES BAD DEBTS RECOVERED CLOSING ENTRIES ADJUSTMENTS IN THE FINAL ACCOUNT SPECIAL ITEMS OF EXPENSES /LOSSES […]

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Financial Accounting Notes

SS2 1st Term Financial Accounting Scheme of work

FIRST TERM E-LEARNING NOTE SUBJECT: FINANCIAL ACCOUNTING                                                CLASS: SS2 SCHEME OF WORK WEEK           TOPIC Final Accounts – Special transactions; Bad […]