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Book - Keeping Topics - Form One


TOPIC 1: Subject Matter 

  1. Subject Matter of Book Keeping

    • Define book keeping

    • Explain the role of Book-keeping

    • Explain the concepts of business entity


TOPIC 2: Principles of Double Entry System

  1. Principles of Double Entry System

    • Describe what a business transaction is

    • Analyses a business transaction

    • Sort the changing values of things owned and owed

    • Determine account balances


TOPIC 3: Classification of Accounts

  1. Classification of Accounts

    • Differentiate between personal and impersonal accounts

    • Identify the possessions of the business


TOPIC 4: Trial Balance

  1. Trial Balance

    • Define the Trial Balance

    • Construct a Trial Balance

    • Give the advantages and short falls of the Trial Balance

TOPIC 5: Stock

  1. Stock

    • Distinguish between stock at start and stock at close

    • Identify the treatment of stocks in the books of the business with particular reference to the final accounts


TOPIC 6: Elementary Trading Profit and Loss Accounts


  1. Elementary Trading Profit and Loss Accounts

    • Describe what a Trading, profit and Loss account is

    • Determine the Gross profit or Gross Loss

    • Determine the cost of goods sold

    • Determine the net profit and the net loss


TOPIC 7: Elementary Balance Sheet


  1. Elementary Balance Sheet

    • Define the balance sheet

    • Explain the Balance sheet Interpretation and Capital of the business

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