Principles of Accounts I.doc - BCM 211 MODULE PRINCIPLES OF...

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BCM 211 MODULE
PRINCIPLES OF ACCOUNTING IBCM 211Mulungushi UniversityInstitute of Distance Education
Copyright©2010 Mulungushi University©2010 Mulungushi UniversityALL COPYING RESERVED. No part of this module may be reproduced, stored in any retrievalALL COPYING RESERVED. No part of this module may be reproduced, stored in any retrievalsystem, transmitted in any form or by any means, electronic, recording, mechanical, photocopying orsystem, transmitted in any form or by any means, electronic, recording, mechanical, photocopying orotherwise, without prior written permission of Mulungushi University.otherwise, without prior written permission of Mulungushi University.Mulungushi UniversityInstitute of Distance EducationKabwe Town CampusP.O Box 80415Tel: +260 215 223750Fax: +260 215 224637Email: [email protected]Website:
AcknowledgementsThe Mulungushi University and Institute of Distance Education in particular wishes to thank thosebelow for their contribution to this BCM 111 Module:Moulen SiameLecturerStephen ChibangulaLecturerDr. John SimwingaEditorEstella Mulenda ChaliEditorAllan KasongoEditorOakinah Mutinta MweembeIDEMutinta MwananimbweIDE
ContentsAbout this module1How this module is structured........................................................................................1Course overview3Welcome to Principles of Accounting.............................................................................3Course outcomes...........................................................................................................3Timeframe......................................................................................................................3Study skills.....................................................................................................................3Need help?.....................................................................................................................5Assignments..................................................................................................................5Assessments..................................................................................................................5Getting around this module6Margin icons...................................................................................................................6Unit 17General Framework of Accounting.................................................................................7Introduction...........................................................................................................7What is Accounting...............................................................................................7Accounting Systems and Records......................................................................11Unit summary...............................................................................................................14Assignment..................................................................................................................14Assessment.................................................................................................................14Unit 216Doube Entry Book Keeping and Accounting System....................................................16Introduction.........................................................................................................16Double Entry Book Keeping…………………………………………………………..16Books of Prime Entry…………………………………………………………………..18Petty Cash Book………………………………………………………………………..26Control Accounts………………………………………………………………………..30Bank Reconciliations…………………………………………………………………...31Trial Balance……………………………………………………………………………34Unit summary...............................................................................................................40Assignment..................................................................................................................40Assessment.................................................................................................................43Unit 344Financial Statements of Sole Traders...........................................................................44Introduction.........................................................................................................44PRINCIPLES OF ACCOUNTING I
Trading Profit and Loss Account……………………………………………………..44Balance Sheet…………………………………………………………………………46Adjustments........................................................................................................50Unit summary...............................................................................................................58Assignment..................................................................................................................58Assessment.................................................................................................................60ReferencePRINCIPLES OF ACCOUNTING I
About this Module onePrinciples of Accounting Module been produced by Mulungushi University. All Modulesproduced by Mulungushi University are structured in the same way, as outlined below.How this Module is structuredThe course overviewThe course overview gives you a general introduction to the course. Information contained inthe course overview will help you determine:If the course is suitable for you.What you will already need to know.What you can expect from the course.How much time you will need to invest tocomplete the course.

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Term
Summer
Professor
A.Chongo
Tags
1981, 1944, January, 1990

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