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DOUBLE ENTRY
BOOKKEEPING, Prior Learning:
Income and Exp.
Analysed cash…
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CONTENT:
Why keep accounts
Drs and Crs
Ledgers
Double entry
Share capital
VAT on sales and purchases
General Ledger
Trial Balances
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LOs:
Strand 2: Enterprise
Element: Using skills for Business
2.12 - Prepare a cash account to monitor income received and payments made by an organisation, evaluate its financial position and recommend a course of action; post figures to relevant ledgers and extract a trial balance
Supporting LOs:
1.2. - Identify and classify sources of income and expenditure, compare options available to best manage financial resources, evaluating the risks associated with each option and making informed and responsible judgements
1.13. - Monitor and calculate income and expenditure data, determine the financial position, recommend appropriate action and present the analysis in tabular and graphic formats