Rated 4.8/5 by parents & students
Financial Accounting, SS 2, Week 2 Topic: Sources of income to non-profit making organization Content Sources of income to non-profit making organization Meaning of subscription Treatment of subscription in the ledger Sources of income to non-profit making organization Donations Subscription Entrance fee Income from raffle draw, dinners, annual programme etc Fines Subscription: This is the […]
Financial Accounting, SS 1, Week 4 Topic: Source Document and Subsidiary Books Content Meaning of source document Types of document Meaning of subsidiary book Reasons for subsidiary book Classification of subsidiary Books Source Document All entries that will pass through the subsidiary book must be supported by document providing details of information of the preparation
Classwork Series {Financial Accounting – SS1}: Source Document and Subsidiary Books Read More »
Financial Accounting, SS 3, Week 4 Topic: Interpretation of Accounts Using Simple Ratio Content: Definition of Ratio Profitability ratio Liquidity ratio Investment ratio Definition of Ratio Ratio can be defined as the relationship that exists between two figures. Accounting ratio are used in the interpretation of financial statements and they provide means by which various
Financial Account – Interpretation of Accounts Using Simple Ratio Read More »
Financial Accounting, SS 3, Week 1 Topic: Issues of Shares Content Meaning of Shares Classes of shares Issue of shares Meaning of Shares Shares can be defined as the units of capital or ownership of a limited liability company,it is the division of the company’s ownership into numerous equal parts.i.e the interest which a shareholder
Classwork Series and Exercises {Financial Accounting – SS3}: Issues of Shares Read More »
Financial Accounting, SS 2, Week 4 Topic: Sources of government revenue Content Levels of Government Sources of revenue The 3 levels of government are Federal State Local The sources of revenue will be analyzed on the basis of level of government Federal government The federal government has the responsibility of preparing the financial statement of
Classwork Series and Exercises {Financial Account – SS2}: Sources of Government Revenue Read More »
Financial Accounting, SS 2, Week 7 Topic: Types of partnership Contents Types of partnership Features of limited partnership Features of ordinary partnership Types of partners Types of Partnership Limited partnership: This is registered and formed under the limited partnership act, it is a form of partnership which there should be at least one ordinary partner
Classwork Series and Exercises {Financial Accounting – SS2}: Types Of Partnership Read More »
Financial Accounting, SS 2, Week 5 Topic: Government Expenditure Content Government spending or expenditure includes all government consumption, investment, and transfer payments. It also means what a government spends in order to achieve its planned budget or the overall public spending carried out by the government. Classification of Government Expenditure Expenditure of the government can
Classwork Series and Exercises {Financial Accounting – SS2}: Government Expenditure Read More »
Financial Accounting, SS 1, Week 4 Topic: Consignment Account Contents Meaning of Consignment Account Pro forma invoice Agent’s commission Entries in the book of the consignor Meaning of Consignment Accounts Consignment accounts are concerned with goods sent to an agent who will sell the goods on behalf of his principal. In many cases the goods
Classwork Series and Exercises {Financial Account – SS1}: Consignment Account Read More »
Financial Accounting, SS 1, Week 7 Topic: The Journal (Principal Journal) Contents Meaning of journal Advantages of journal Uses of journal proper Classes of entry Format of a journal Meaning of Journal The journal is a book of original entries or prime entries which recorded transaction in chronological order that is day by day recording
Classwork Series and Exercises {Financial Accounting – SS1}: The Journal Read More »
Financial Accounting, SS 1, Week 6 Topic: Profit and Loss account Introduction The profit and loss account is the account that shows the net profit or net loss of an organization. Income or gains are credited while expenses are debited . The profit or loss will be taken to the capital account. Profit and loss
