Chapter 1 Accounting For Cash And Cash Equivalent

LEARNING OBJECTVE

1.1 State the nature of cash and cash equivalents under MFRS 107 (MPERS: Section 7)

1.1.1 Define cash and cash equivalents

1.1.2 List purpose of cash and cash equivalents based on three main activities

1.2 Recognize records under cash books

1.2.1 Identify the differences between two-column cash book and three-column cash book

1.2.2 Record business transactions by using:

a. Two-column cash book

b. Three-column cash book

1.3 Prepare bank reconciliation statement

1.3.1 Identify the differences between bank statement and cash book (bank column)

1.3.2 Interpret the reasons for discrepancies between the cash book (bank column) balance with the bank statement balance

1.3.3 Discuss the bank reconciliation statement format.

1.3.4 Prepare the bank reconciliation statement from:

a. Cash book balance (bank column)

b. Bank statement balance

1.3.5 Prepare the bank reconciliation statement from:

a. Adjusted cash book

b. Unadjusted cash book

1.4 Show the presentation of cash and cash equivalents in Financial Statements

Chapter 1_Cash and Cash Equivalents.pdf