accounting+revision+focus+on+Vista

accounting+revision+focus+on+Vista - UNSW FOUNDATION YEAR...

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UNSW FOUNDATION YEAR MEMO TO Accounting Students FROM Sue Teh SUBJECT Exam Revision Focus Advice on revision for the exam:
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2 You should need to revise on the following: Basic topic areas such as accounting cycle, the purpose of accounting standards, definitions for various accounting terms and concepts eg accrual accounting, the accounting conventions, double entry convention, recognition and matching convention and the significance of various conventions. For example, the importance of distinguishing between a revenue type of expense and a capital type of expense, the significance of double entry in maintaining the equality of the accounting equation etc.
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3 Students shold be able to apply the debit and credit rule and prepare the analysis chart. Students should be able to discuss the document flows related to sale/purchase of goods and documents related to various transactions and journals. Students should be able to identify the transaction which has taken place according to the various documents and the journal used to record the transaction and the accounts debited and credited.
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4 Students should be able to carry out the whole process of recording transactions in various journals, posting from journals to the accounts in the general ledger, balancing the accounts and show the balance c/d and balance b/d in the
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accounting+revision+focus+on+Vista - UNSW FOUNDATION YEAR...

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