QCE Accounting

Accounting

1. Recording transactions

1a. Opening, closing and reversing entries

1b. Purchase and sale of non-current assets

1c. Purchase and sale of inventories with returns

1d. Accounts receivable and accounts payable

1e. Other revenues and expenses and obtaining finance

1f. Drawings of cash and inventories

1g. Correction of errors

2. Calculate and record transactions

2a. Balance day adjustments

2b. Depreciation

2c. Provision for doubtful debts

2d. Inventory adjustments

3. Preparing financial statements

3a. Statement of profit or loss

3b. Statement of financial position

4. Synthesise and solve goal oriented problems

5. Cash and accrual accounting

6. Differences between accounting for sole traders and companies

7. Explain and calculate financial ratios

7a. Profitability

7b. Liquidity and Stability

7c. Company specific ratios

8. Analyse and interpret company reports

8a. Types of analysis - ratio, verticle, horizontal and trend

8b. Factors that limit comparison of financial statements

8c. Statement of financial position

8d. Statement of profit or loss

8e. Statement of cash flows

9. Evaluating company performance and proposed changes

The Accounting Process

The Accounting Process