Accounting

Table of Contents

This is a work-in-progress table of contents. It should be updated as more posts get added, but it may not always be up-to-date.

Basic Concepts

Definitions

Definitions of Assets, Equity, Liabilities, Income, and Expenses; and Accounting Equation. (Grades 10, 11, and 12)

GAAP Principles
Accrual; Historic Cost; Going concern; etc. (Grades 10, 11, and 12)

Fixed Assets

Depreciation

Definitions, calculating depreciation, recording Depreciation and Accumulated Depreciation in the General Ledger, Salvage value. (Grades 10, 11, and 12)

Manufacturing and Cost Accounts

Different Types of Costs

Production costs, Administration costs, and Selling & Distribution Costs; Fixed costs and Variable costs; Direct and Indirect costs. (Grade 11 and Grade 12)

The Break-even Point

Total costs of productions, Costs per unit, and calculating Break-even Point quantities and selling prices. (Grade 11 and Grade 12)

Direct and Indirect Raw Materials in the General Ledger

How Direct (Raw Materials) and Indirect (Consumable Stores) Materials are bought in the general ledger, as well as how Consumable Stores on Hand works. (Grade 11 and Grade 12)

Year-end Transaction in the General Ledger

Closing off to Cost Accounts, Work-in-progress, Finished Goods, and the Profit and Loss Account, etc. (Grade 11 and Grade 12)

The Production Cost Statement

The Production Cost Statement, Notes to the Financial Statements, and the Trading Statement (Grade 12)

Perpetual and Periodic Inventory Systems

The Perpetual Inventory System

Revision of all transactions affecting Trading Stock (Grade 10, 11, 12)

The Periodic Inventory System: Transactions during the year
Purchases, Carriage on Purchases, Sales, Returns from customers and to suppliers, Donations, and Drawings (Grade 11 and 12)

The Periodic Inventory System: Year-end Transactions
Opening Stock, Closing Stock, Trading Stock/Inventory, Purchases, Carriage on Purchases, Trading Account (Grade 11 and 12)