Course Content
New Accounting Model (Exam-2009)
Books references: 1. Account Code (Volume III). 2. Chart of Accounts (Issued by CGA). 3. Manual Accounting Principles. 4. Accounting Policies and Procedures Manual.
Private: DAO Part-I Examination 2024 (Fresh Candidates) Past Papers
About Lesson

Course outline for Basic Accounting, covering each of the mentioned topics along with sub-topics:

  1. Business Transactions and Documents:

    • Definition of Business Transactions: Understanding the nature of financial transactions.
    • Source Documents: Types of documents (invoices, receipts, purchase orders) that serve as evidence for transactions.
    • Recording Transactions: How to record transactions accurately.
    • Transaction Analysis: Analyzing the impact of transactions on financial statements.
  2. Double Entry Bookkeeping:

    • Principles of Double Entry: Understanding the dual aspect of transactions.
    • T-Accounts: Creating T-accounts for different accounts (assets, liabilities, equity, revenue, expenses).
    • Journal Entries: Recording transactions using debits and credits.
    • Ledger Posting: Transferring journal entries to the general ledger.
    • Trial Balance: Preparing and balancing the trial balance.
  3. Banking and Petty Cash:

    • Bank Reconciliation: Reconciling bank statements with company records.
    • Petty Cash Fund: Managing small cash amounts for minor expenses.
    • Recording Petty Cash Transactions: Properly accounting for petty cash expenditures.
  4. Accounting Standards, Principles, and Policies:

    • GAAP (Generally Accepted Accounting Principles): Understanding the standard rules and methods for financial reporting.
    • IFRS (International Financial Reporting Standards): Recognizing the global accounting standards.
    • Consistency and Comparability: Ensuring uniformity in financial reporting.
    • Materiality and Disclosure: Disclosing relevant information to users.
  5. Control Accounts, Reconciliations, and Errors:

    • Control Accounts: Managing summary accounts (e.g., accounts receivable, accounts payable).
    • Reconciliation: Balancing accounts and identifying discrepancies.
    • Error Correction: Detecting and rectifying accounting errors.
  6. Adjustment to the Trial Balance:

    • Accruals and Deferrals: Adjusting entries for revenues and expenses.
    • Depreciation and Amortization: Allocating costs over time.
    • Bad Debts and Provisions: Accounting for doubtful debts.
    • Closing Entries: Closing temporary accounts at the end of an accounting period.
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