Bookkeeping (New) Form 1 Syllabus

Demonstrate mastery of the principles of Book-keeping
1. Demonstrate an understanding of the basic principles and theories of Book-keeping
  1. Explain the concept of Book Keeping (origin, meaning, purpose, relationship with other disciplines and basic terms)
  2. Explain the basis for recording business transactions (accounting assumptions and principles)
  3. Describe the theory of the double-entry system of Book- keeping(the accounting equation)
  4. Describe various types of accounts (assets, liabilities, capital, revenue and expenses)
2. Record business transactions using source documents
  1. Identify sources of business transactions (source documents)
  2. Record business transactions from various source documents
  3. Post recorded business transactions from books of original entry to ledger accounts and balance off the accounts
3. Prepare a trial balance
  1. Describe the trial balance
  2. Prepare a trial balance to check the arithmetical accuracy of ledger accounts
Prepare basic financial statements
1. Prepare basic profit or loss statements
  1. Describe basic financial statements (meaning, types, purpose, content and format)
  2. Prepare a basic income statement
2. Prepare basic business financial position statements
  1. Classify assets and liabilities
  2. Prepare a basic statement of financial position