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Accounting made easy

Blogs about accounting which helps for AAT, AQA, Edexcel, Btec & OCR income statement, balance sheet, control, suspense, errors, bank reconcilliation

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Accounting made easy | learntodoaccounting.blogspot.com Reviews
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Accounting made easy | learntodoaccounting.blogspot.com Reviews

https://learntodoaccounting.blogspot.com

Blogs about accounting which helps for AAT, AQA, Edexcel, Btec & OCR income statement, balance sheet, control, suspense, errors, bank reconcilliation

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learntodoaccounting.blogspot.com learntodoaccounting.blogspot.com
1

Accounting made easy: November 2013

http://www.learntodoaccounting.blogspot.com/2013_11_01_archive.html

Help for introductory accounting courses Helpful for Accounting units such as: - OCR, H011, H041, F011, F012, F013, F014, AQA, 1121, 2121 ACCN1, ACCN2, ACCN3, ACCN4, Edexcel 7011, 8011. Friday, 29 November 2013. Bank reconciliation is where you check that your bank statement (the banks version of your bank account) matches your own cash book (your version of the bank account). Its good practice to do so because: -. We can correct errors we make in our cash book. To the banks independent version. There sh...

2

Accounting made easy: January 2014

http://www.learntodoaccounting.blogspot.com/2014_01_01_archive.html

Help for introductory accounting courses Helpful for Accounting units such as: - OCR, H011, H041, F011, F012, F013, F014, AQA, 1121, 2121 ACCN1, ACCN2, ACCN3, ACCN4, Edexcel 7011, 8011. Saturday, 25 January 2014. Shares and reserves summary and a limited company balance sheet. Limited company accounts- key terminology. This signifies the upper limit of shares a firm is allowed to sell. It needs to get the laws changed to sell more than this. 500,000 x 50p shares. 400,000 x 50p Shares. If NCA s go up from...

3

Accounting made easy: Suspense accounts

http://www.learntodoaccounting.blogspot.com/2013/04/suspense-accounts.html

Help for introductory accounting courses Helpful for Accounting units such as: - OCR, H011, H041, F011, F012, F013, F014, AQA, 1121, 2121 ACCN1, ACCN2, ACCN3, ACCN4, Edexcel 7011, 8011. Monday, 11 November 2013. If a trial balance does not balance a suspense account may be opened to make it balance. This is caused by the PUPAT errors (discussed here) but most of the CROPOC errors can usually be fixed without the use of the suspense account. Balance then the trial balance doesn’t balance. In some exam que...

4

Accounting made easy: Accruals and Prepayments

http://www.learntodoaccounting.blogspot.com/2013/03/accruals-and-prepayments.html

Help for introductory accounting courses Helpful for Accounting units such as: - OCR, H011, H041, F011, F012, F013, F014, AQA, 1121, 2121 ACCN1, ACCN2, ACCN3, ACCN4, Edexcel 7011, 8011. Sunday, 12 January 2014. An accrual is an amount used in one accounting period that that will not be paid until the next accounting period. In the final accounts accrued expenses are: -. Added to the expense from the trial balance before listing in the Income Statement account. In the Income Statement account, the total c...

5

Accounting made easy: March 2014

http://www.learntodoaccounting.blogspot.com/2014_03_01_archive.html

Help for introductory accounting courses Helpful for Accounting units such as: - OCR, H011, H041, F011, F012, F013, F014, AQA, 1121, 2121 ACCN1, ACCN2, ACCN3, ACCN4, Edexcel 7011, 8011. Saturday, 29 March 2014. Statement of Changes in Equity. A statement of changes in equity does exactly as it says on the tin! It shows the changes to the shares and reserves of the company over the financial year. The headings across the top could be remembered by the term I Should Really Get Revising Tonight! Retained Ea...

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Accounting made easy

Help for introductory accounting courses Helpful for Accounting units such as: - OCR, H011, H041, F011, F012, F013, F014, AQA, 1121, 2121 ACCN1, ACCN2, ACCN3, ACCN4, Edexcel 7011, 8011. Tuesday, 15 April 2014. Provision for unrealised profit. However the retail element of the business has not sold them and thus not made any profit yet! This creates a problem: - How should inventory be valued? IAS 2 says that “Inventory should be valued at the lower of historic cost or Net Realizable Value”. In the first ...

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