Suggested Progress and Syllabus for the Year

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1 Suggested Progress and Syllabus for the Year Appendix 1 Secondary: Four Book used: Principles of Accounts for Hong Kong Volume 1 Frank Wood (Longman) 5 th Edition First Term (S.4A) Cycle Periods Text Topics Contents of the lesson Demo Homework Introduction accounting Needs for accounting information (5/9 30/9) Users of accounting information Special meaning of `purchases and `sales in accounting 2 Introduction to double Accounting equation 2.6, 2.11X 2.7X, 2.9X entry Effects of business transactions upon balance sheet items 2.13X, 2.19X 2.15X, 2.17X 3 book-keeping Meanings of assets, liabilities, capital, and their double entry 3.4, 3.9X 3.5X, 3.10X Debits and credits and their rules 4 Treatment of stock 4.7X, 4.9, 4.13X 4.8X, 4.14X 5 Income and expenses and their double entry 5.5, 5.9X 5.6X, 5.10X Trial balance Double entry of closing balances 6.4, 6.6X 6.7X (2/10 18/10) 7 Functions of a trial balance 7.7X 7.6X How to prepare a trial balance Limitations of a trial balance

2 Cycle Periods Text Topics Contents of the lesson Demo Homework Preparation of final accounts from a trial balance of a sole trader (21/10 15/11) 8, 10 Purposes, functions and preparation of trading and profit and loss account: 1. Meaning of `net sales, `net purchases, `gross profit and `gross loss `net profit and `net loss 2. Calculation of cost of goods sold 9, 10 Purposes, functions and preparation of the balance sheet: 1. Differentiation between fixed assets and current assets, long term liabilities and current liabilities 2. Classifications by order of permanence and liquidity 3. Methods of presentation: vertical and horizontal 8.6, 8.9X 8.7X, 8.10X 9.4, 9.7X 9.5X, 9.8X Ledgers Identify a common division of the ledger: (18/11 6/12) Sales ledger, purchases ledger and general ledger Personal accounts, real accounts and nominal accounts Compile the different books/journals 10.5X, 10.9X 10.7X, 10.11X Cash book The banking system: meaning of debit and credit 13 The preparation of two column cash book 13.6X 13.7X Contra entries Not for credit purchase and credit sales 14 The preparation of three column cash book 14.7X 14.6X Meaning of trade discount and cash discount Treatment of discount allowed and discount received Treatment of bank overdraft

3 Second Term (S.4A) Cycle Periods Text Topics Contents of the lesson Demo Homework Compile the different books/journals Petty cash book The imprest system 15.4, 15.6X 15.5X (2/1 23/1) Analysis columns Sales journal and the Business document: invoice, debit note, credit note, receipts and payment 16.5, 16.8X 16.6X, 16.8X sales ledger vouchers (1 June) (2-30 June), 16.10X Treatment of trade discount Purchases journal and 17.5X 17.7X the purchases ledger Returns journals 18.5X 18.7X, 18.9X The journal Typical uses of the journal: - purchases and sale of fixed assets on credit - correction of errors - opening and closing entries - other transfer / adjustments 19.4X, 19.8X 19.6X Balancing day adjustments relating to preparation of final accounts Depreciation Meaning and objectives for depreciating fixed assets (24/1 28/2) Causes of depreciation: wear and tear, obsolence, inadequacy, passage of time and depletion. Methods of calculating depreciation charge: straight-line, 20.6X, 20.8X, 20.7X, 20.11X reducing-balance and revaluation 20.10X 21 Difference between capital and revenue expenditures 21.4X, 21.8X 21.9X 22 Journal and ledger entries and adjustments in profit and loss account and 22.5X, 22.11X 22.8X, 22.10X balance sheet: depreciation account method and provision account method Accounting entries for disposal of fixed assets Entries for trade-in of fixed assets Bad debts and Distinguish between bad debts and bad debts provision 23.4X, 23.7X 23.6X, 23.8X provision for bad debts Create, increase and decrease provision for bad debts and provision for discount allowed Journal and ledger entries, adjustments in profit and loss account and balance sheet

4 Accruals and prepayments Meaning of prepayment and accruals of revenue and expenses 24.8, X, 24.12X, (3/3 21/3) Calculate prepaid or accrued amount Journal and ledger entries, adjustment in profit and loss account and 24.15X balance sheet Third Term (S.4A) Cycle Periods Text Topics Contents of the lesson Demo Homework Bank reconciliation statement Reasons causing discrepancy in cash book and bank statement balances. 25.3, 25.7, 25.8X 25.4X, 25.6X, 25.10X (3/4 7/5) Functions and preparation of a bank reconciliation statement Update a cash book from a relevant bank statement Effect of bank overdraft on bank reconciliation statement Bank reconciliation statement commencing with cash book or bank statement balance 26,27 Correction of errors Classes of error: affecting and not affecting the agreement of the trial 26.3, X, 26.6X balance Correcting entries by means of journal or ledger accounts Use of a Suspense account Effect of errors on reported profits Preparation of a corrected balance sheet 29 Control accounts Functions and preparation of sales ledger and purchases ledger control accounts Treatment of minority balances Set-off between sales and purchases ledgers Reconciling control account balances with subsidiary ledger totals Accounting concepts Meaning of the following conventions and doctrines: (12/5 10/6) going concern, accrual, consistency, prudence, business entity, historical cost, materiality, quantifiability and stable monetary measure, income determination, matching and realization How to apply these concepts in simple case problems 27.3, 27.8, 27.7X 27.4X, 27.9X, 27.11X 29.5X, X, 29.12X 31.2X, 31.4X 31.3X, 31.5X

5 Cycle Periods Text Topics Contents of the lesson Demo Homework 32 Introduction to Use of accounting ratios MC 32.1, 32.4X 32.10X accounting ratios Calculate the following ratios: gross profit ratio, net profit ratio, current ratio, quick ratio, stock turnover rate, credit period allowed to trade debtors, credit period received from trade creditors, return on capital employed 33 Single entry and Calculate profit or loss from statements of affairs 33.5X, 33.7X 33.9X, 33.12X incomplete records Prepare final accounts from incomplete records Calculate value of stock in trade at time of fire Calculate value of stock after financial year end Use of margins, mark-ups and other accounting ratios Use of total debtors and total creditors account Treatment of goods in stock salvaged 34 Receipt and payment Functions of the accounts 34.4X, 34.8X 34.6X, 34.7X account and Income and expenditures account Calculate accumulated fund and subscriptions, with arrears and advance Calculate profit on a fund-raising activity Prepare trading account, income and expenditure account and statement of affairs/balance sheet Treatment of donations and entrance fees 35 Manufacturing account Classify and calculate the following costs: 35.2X 35.4X, 35.7X prime cost, factory overheads and cost of production Treatment of work-in-progress Mark-up on manufactured goods Preparation of manufacturing, trading and profit and loss account and balance sheet

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