Principles of Accounts

CSEC - Principles Of Accounts - 693 - tabs

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  • Introduction to Principles of Accounts
  • The Classified Balance Sheet
  • Books of Original Entry
  • Ledgers and the Trial Balance
  • The Preparation and Analysis of Financial Statements of the Sole Trader
  • End of Period Adjustments
  • Control Systems
  • Incomplete Records
  • Accounting for Partnerships
  • Accounting for Corporations (Limited Liability Companies)
  • Accounting for Co-operative Societies
  • Accounting for Non-Trading (Non Profit) Organizations
  • Manufacturing Accounts
  • Payroll Accounting

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  • Principles of Accounts

Examples of Responses to Questions in the Examinations
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Unit 1

Unit 1 Paper 2


Question 1

Question 2

Question 3

Question 7


Principles of Accounts is a course of study that provides an introduction to the principles and techniques that accountants employ in measuring, processing, evaluating and communicating information about the financial performance and position of a business.

The course in Principles of Accounts helps students to develop an understanding of a range of theoretical and practical techniques used in accounting.  It helps to develop skills that should enable them to participate more effectively and responsibly in today’s business environment, to improve the management of personal financial activities, such as, budgeting, savings and investment.  In addition, this course prepares students for post-secondary and professional studies in accounting.

The syllabus is arranged in 14 sections consisting of specific objectives and related content.

Section 1         -           Introduction to Principles of Accounts

Section 2         -           The Classified Balance Sheet

Section 3         -           Books of Original Entry

Section 4         -           Ledgers and the Trial Balance

Section 5         -           The Preparation and Analysis of Financial Statements of the Sole-trader

Section 6         -           End of Period Adjustments

Section 7         -           Control Systems

Section 8         -           Incomplete Records

Section 9         -           Accounting for Partnerships

Section 10       -           Accounting for Corporations (Limited Liability Companies)

Section 11       -           Accounting for Co-operative Societies

Section 12       -           Accounting for Non-Trading (Non Profit) Organisations

Section 13       -           Manufacturing Accounts

Section 14       -           Payroll Accounting