ACCOUNTING 1
AA015
1.1 Definition of Accounting
1.2 Users of Accounting Information
1.3 Differences between Bookkeeping and Accounting
1.4 Branches of Accounting
1.5 Types of Business Ownerships
1.6 Types of Business Activities
1.7 Types of Financial Statements
1.8 Professional Accounting Bodies in Malaysia
1.9 Potential career in Accounting
Chapter 2 : Basic Accounting Concepts
2.1 Generally Accepted Accounting Principles
2.2 Accounting Concepts
2.3 Accounting Equation
2.4 Double-entry system
Chapter 3 : Accounting Cycle
3.1 Steps in the Accounting Cycle.
3.2 Types of source Documents.
3.3 Journalising Process.
3.3.1 Explain the use of special journals and general journal.
3.3.2 Special Journal.
3.3.3 General Journal.
3.3.4 Subsidiary Ledger.
3.4 Prepare a subsidiary ledger of accounts payable and show its relationship with control account in general ledger. Posting to general ledger.
3.5 Preparation of the Trial Balance.
3.6 Preparation of Financial Statement for Merchandising and services entities.
Chapter 4 : Computerised Accounting System
4.1 Introduction to Computerised Accounting System
4.1.1 Explain the definition of Computerised Accounting System.
4.1.2 Explain input, process and output.
4.2 Components of Computerised Accounting System
4.2.1 Explain parts and functions such as data entry, processing, storage and technical supports.
4.2.2 Input, Process and Output.
4.3 Accounting Software
4.3.1 Business’s Name, address, accounting period, accounting software period.
4.3.2 Charts of accounts.
4.3.3 Beginning Balance.
4.3.4 Recording transactions
4.3.5 Financial Reporting
Chapter 5 : Adjustment At The End Of Accounting Period
5.1 Basis of Accounting.
5.2 Definition of Revenues and Expenses.
5.3 Revenue and Expenses.
5.4 Revenue Expenditures and Capital Expenditures.
5.5 Revenues and Expenses.
5.6 Purposes of Adjustment.
5.7 Types of Adjustments.
5.7.1 Unearned Revenues.
5.7.2 Accrued Revenues.
5.7.3 Prepaid Expenses.
5.7.4 Accrued Expenses/Expenses payable.
5.7.5 Depreciation Expenses.
5.8 Correcting Entries.
5.9 Preparation of Adjusted Trial Balance.
5.10 Preparation of Financial Statement after adjustment.
Chapter 6 : Accounting For Cash
6.1 Definition of Cash.
6.2 Cash Book / Cash receipt journal and cash payments journal and Bank Statement.
6.3 Bank Reconciliation.
Chapter 7 : Accounting For Receivables
7.1 Definition of Accounts Receivable.
7.2 Valuation of Accounts Receivable.
7.3 Bad Debts.
7.4 Accounting methods for Bad Debts.
7.4.1 Direct Write-Off Method.
7.4.2 Allowance Method.
7.5 Recovery of Bad Debts / Record bad debts recovered.
7.6 Presentation of Accounts Receivable in the Statements of Financial Position.
Chapter 8 : Accounting For Inventories
8.1 Definition of Inventories.
8.2 Inventory System.
8.2.1 Periodic System.
8.2.2 Perpetual System.
8.3 Inventory Costing Methods.
8.3.1 First-In-First-Out (FIFO).
8.3.2 Weighted Average
8.4 Effects of Inventory Valuation on Profit.
Chapter 9 : Accounting For Non Current Assets
9.1 Definition and Types of Non-current Assets.
9.2 Compute and record the cost of fixed assets.
9.3 Depreciation.
9.3.1 Calculate and journalize the depreciation based on the following methods:
9.3.2 Straight Line.
9.3.3 Reducing Balance.
9.4 Disposal of Fixed Assets.
9.5 Presentation of Fixed Assets in the statement of Financial Position.
Chapter 10 : Accounting For Liabilities
10.1 Definition and Types of Liability.
10.2 Current Liabilities.
10.2.1 Explain the characteristics of current liabilities (certain) and estimated current liabilities.
10.2.2 Record the issuance of liabilities, interest expanse and repayment of liabilities.
10.3 Non-current Liabilities.
10.3.1 Explain the characteristics of non-current liabilities.
10.3.2 Record the issuance of liabilities, interest expense and repayment of liabilities.
10.4 Presentation of Liabilities in the Statement of Financial Position.
Chapter 11 : Accounting For Incomplete Record And Single Entry System
11.1 Definition of Incomplete Records and Single Entry System.
11.2 Profit or Loss Determination.
11.2.1 Capital Comparison Method.
11.2.2 Analysis Method.
11.3 Preparation of Financial Statement.