Accounting made easy

Help for introductory accounting courses Helpful for Accounting units such as: - OCR, H011, H041, F011, F012, F013, F014, AQA, 1121, 2121 ACCN1, ACCN2, ACCN3, ACCN4, Edexcel 7011, 8011

Sunday, 19 January 2014

Disposal of Non-Current assets

When we sell an asset we need to remove that asset from the books. Double entry (using a disposal account) • In ...

Tuesday, 14 January 2014

Accounting Concepts

Accounting Concepts Remember the catchphrase “Go Compare” Go ing Concern • Accountants (you!) assume that the busine...

Inventory Valuation

Inventory should usually be valued at its cost price unless you are likely to receive less than that - i.e. anticipating a loss – prud...

Sunday, 12 January 2014

Accruals and Prepayments

Accrual Of Expenses An accrual is an amount used in one accounting period that that will not be paid until the next accounting peri...

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