This unit focuses on financial accounting for a single activity trading business as operated by a sole trader and emphasises the role of accounting as an information system. Students are introduced to the double entry system of recording using the accrual basis of accounting. The perpetual method of stock recording with the First In, First Out (FIFO) method is used.
Where appropriate, the accounting procedures developed in each area of study should incorporate the application of accounting principles and the qualitative characteristics of accounting information.
AREA OF STUDY 1
Recording of financial data
AREA OF STUDY 2
Balance day adjustments and reporting of accounting information
2009 uploads
2008 uploads
2006-7 uploads