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Accounting 0452/22 Oct Nov 2024

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Psat Paper Lesson
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Laura Bellini

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1. Double-Entry & Cash Book Accounting | Preparation of Kalima’s cash book, account for Elizah, classification of balances in the statement of financial position. 2. Incomplete Records & Profit Calculation | Determining opening and closing capital, calculation of profit using the capital approach, and evaluation of bookkeeping needs. 3. Club Accounts & Financial Statements | Preparation of a café income statement, subscriptions account, and income & expenditure account for a sports club. 4. Company Accounts & Financial Statements | Statement of changes in equity, equity section of financial position, and analysis of financing options (ordinary shares vs. debentures). 5. Financial Ratios & Business Performance | Calculation of inventory turnover, trade receivables/payables turnover, gross profit margin improvement strategies, and trade credit management.
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