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LCC Book Keeping First Level (Effective From 1 January 2008) A) Syllabus Topics
LCC Book Keeping First Level (Effective From 1 January 2008) A) Syllabus Topics
LCC Book Keeping First Level (Effective From 1 January 2008) A) Syllabus Topics
A) Syllabus Topics
1. The accounting equation and the basis of doubleentry bookkeeping
2. Recording transactions through double entry
3. Balancing accounts
4. Purchases / sales / returns
5. The ledger : its subdivision
6. Day books
7. Bank facilities / methods of payment or receipt of money
8. Cash book and cash discount
9. Bank reconciliation
10. Petty cash book and the imprest system
11. Trial balance
12. Adjusting for accruals and prepayments
13. Depreciation of fixed assets
14. Bad debts and provision for doubtful debts
15. The journal ( Each journal entry should include the relevant date. It should also
include a suitable narration, unless the question states that it is not required. )
16. Capital and revenue expenditure
17. Errors in the accounts ( The preparation of a Suspense account is not required. )
18. Effect of profit ( or loss ) and drawings upon capital
19. Trading and profit and loss accounts
20. The balance sheet
21. Club and society accounts
B ) Examination Format
~ The time allowance for the examination is 2 hours 30 minutes
~ There are 4 questions on the examination paper
~ All of the questions are compulsory
~ All questions carry equal marks
~ The answers required will be predominantly quantitative
~ At least 2 of the following syllabus topics will appear in each examination
A) Syllabus Topics
1. Advanced aspects of the syllabus for Level 1 Bookkeeping
2. Partnerships ( Apply rule of Garner v Murray )
3. Limited liability companies
4. Incomplete records
5. Manufacturing accounts
( include transfer completed production at cost plus a margin of profit and
make a provision for unrealized manufacturing profit )
6. Stock valuation
7. Nontrading organizations
8. Control accounts
9. Suspense accounts
10. Calculation and interpretation of ratios
11. Preparation, by the use of ratios, of simple financial statements
B ) Examination Format
~ The time allowance for the examination is 3 hours
~ There will be 5 questions on the examination paper
~ Candidates are required to answer 4 questions. No question will be compulsory.
~ Each question will carry equal marks
~ At least 2 of the following syllabus topics will appear in each examination
2 Partnerships
3. Limited liability companies
4. Incomplete records
5. Manufacturing accounts
8. Control accounts
A) Syllabus Topics
1. Levels 1 and 2 revisited
2. Valuation of stocks
3. Valuation of fixed assets
4. Partnerships
5. Companies
( include issue of shares payable by instalments, refer to F.5 Book 2 Ch.9.10 P.170 )
6. Accounting for groups of companies
7. Cash flow statements
8. Accounting ratios
9. Budgetary control
10. Introduction to decision making
( Breakeven, Investment appraisal not involving IRR )
11. Concepts and accounting framework
Note : Taxation, in all its forms, is excluded from this syllabus.
B ) Examination Format
~ The time allowance for the examination is 3 hours.
~ The examination paper will comprise 5 questions.
~ Candidates are required to answer 4 questions. No question will be compulsory.
~ Any question can relate to more than one topic area from the syllabus.
At least 2 of the following syllabus topics will appear in each examination :
4. Partnerships
5. Companies
6. Accounting for groups of companies
7. Cash flow statements
8. Accounting ratios, working capital statements
10. Introduction to decision making