1. Section A; Chapter 1 ~ 2
Accounting
* Recording
* Classifying
* Summarizing
* Analyzing
* Interpreting
Assets
Fixed Assets
- Property which will be used by the business or company for a long term
Example; Premises, Furniture, Fixtures and Office Equipment
Current Asset
- Property which will be used by the business or company for the current timing
Example; Cash, Bank, Debtor and Stock
Liabilities
Current Liabilities
- Liabilities which took less than 1 year to repay
Example; Account payable (Creditor) and Debtor
Long Term Liabilities
- Liabilities that took more than 1 year to repay
Example; Bank Loan and Mortage
Equity
Opening Capital → Additional Capital → Drawing → Net profit/Net loss → Closing Capital
Expenses
* Rent
* Commission Insurance
* Stationery
* Repairing
* Purchasing Fixed Assets
Revenue
- Income received by the company in running the business
* Commision Received
* Rent Received
* Discount Received
* Income From Sold Assets
2. Section B
Cash Book + Journal (General and Special)
Two column cash book;
Debit ←
Date
Details
→ Credit
F
Cash
(RM)
Bank
(RM)
Date
Details
F
Cash
(RM)
Bank
(RM)
Three column cash book;
Debit
Date
Details
F
←
→ Credit
Dis
(RM)
Cash
(RM)
Bank
(RM)
Date
Details
F
Dis
(RM)
Cash
(RM)
Bank
(RM)
Petty Cash + Ledger
Amount
Received
(RM)
-----
----------
Date
Details
May 1
----31
Balance c/d
Jun 1
V.N
Total
(RM)
--------(RM)
---------(RM)
---------
-----
-----
Balance b/d
----------(RM)
Cash
-----
Debit
Asset
Purchases
Return Inwards ( Return Sales)
Expenses
Drawings
Credit
Liability
Sales
Return Outwards ( Return Purchases)
Revenues
Capital
-----