AN

INTRODUCTION
TO ACCOUNTING
Learning unit 1
Theme 1 : the accounting equation
◦ LO1: Discuss the basic concepts of Accounting, including Business concepts and Trust concepts.
◦ LO2: Identify the elements of the accounting equation.
Workbook page 3 – 5, 6
◦ LO3: Discuss the accounting equation.
Workbook page 8
◦ LO4: Analyse transactions in the accounting equation.
Exercise 1 – 4
Theme 2 : the accounting cycle
◦ LO5: Describe the monthly and annual accounting cycle.
Workbook page 2
◦ LO6: Explain the purposes of each subsidiary journals (Bus. Cash Receipts Journal; Bus. Cash Payments
Journal; Bus. Fees Journal; Bus. General Journal; Trust Cash Receipts Journal; Trust Cash Payments Journal;
Transfer Journal)
◦ LO7: Prepare journal entries.
◦ LO8: Post to the general ledger for both the Business and Trust.
Workbook page 9 - 14
◦ LO9: Extract a trial balance.
Workbook page 15
◦ LO10: Prepare elementary Statement of Profit and Loss and Statement of Financial Position.
Workbook page 16
Exercise 9 - 13
Theme 3 : Value added tax
◦ LO11: Calculate VAT
◦ LO12 Discuss the conditions and terms of VAT.
◦ LO13: Incorporate VAT into the accounting cycle.
Workbook page 23 – 24
Exercise 5 – 8, 14 (selfstudy)