Bookkeeping Form 4 Syllabus

Bills Of Exchange
1. Bills of Exchange
  1. Define a bill of exchange
  2. Explain the nature of interest of a bill of exchange
  3. Account for bill received
  4. Account for: Accrued interest; Default of bill; Default or dishonor; The discounting of a bill of exchange
  5. Account for a bill of exchange with interest charges included in the face amount
  6. Discuss the concept of present value in accounting of a log-term bill of Exchange
Joint Ventures
1. Joint Ventures
  1. Define a joint venture
  2. Show the joint venture accounts in the books of the parties
  3. Determine the profit or otherwise of the joint venture
Consignments
1. Consigments
  1. Show the account in the consignors and consignee’s books
  2. Show the transfer of the consignee’s and consignee’s accounts to the profit and Loss Account
  3. Prepare the Accounts sales
  4. Show the consignment Inward Account in the book of the Consignee
Partnerships
1. Partnership
  1. Describe the basic characteristics of a partnership
  2. Explain the importance of mutual agency and unlimited liability to a person about to become a partner
  3. Discuss the advantages and disadvantages of the partnership as a form of business
  4. Distinguish between an ordinary partnership and limited partnership
  5. Account for the formation of a partnership
  6. Allocate partnership earnings to partners: On a stated fractional basis; In the partners capital ratio and through the use of salary and interest allowances
  7. Account for the admission of new partner
Departmental Accounts
1. Departmental Accounts
  1. Draw up the trading account for a departmental store
  2. Apportion the overheads expenses to department
  3. Explain the methods used in apportioning overhead expenses
  4. Draw the profit and loss account in columnar form
  5. Draw the departmental trading, profit and loss account
  6. Draw a department balance sheet
Elements Of Auditing
1. Elements of Auditing
  1. Define auditing
  2. Explain the main objects of auditing
  3. State the types of auditing
  4. Give the meaning of: Internal control; Internal check; Internal audit
  5. Mention auditors working paper
  6. Explain the different types of auditors reports and opinions