What is meant by the term Dual Accounting?

Slides:

Advertisements

Similar presentations

Reconciling the trust to the bank account By-Law 9 SS 18(8) requires that you reconcile the two records by the 25th of each month relating to all trust.

Advertisements

Summary so far……..  SPECIAL JOURNALS  Special journals  classify and summarise data from source documents.  The use of special journals  allows.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 11-4 Posting Special Journal Totals to a General Ledger.

 When the number of business transactions is very large, recording of all transactions in one journal will not be convenient but also cause delay in.

Bank Reconciliation Other Terms Review Potpourri $100100$100100$ $200200$200200$ $300300$300300$ $400400$400400$ $ Sales.

Journalizing Transactions. General Notes If a co. receives cash – it is ALWAYS a debit. If a co. receives cash – it is ALWAYS a debit. If a co. pays cash.

Whiteboard Review! Chapter 6. Pete's Painting Service! Pete runs a small Painting Service. He normally paints people’s homes, when they are doing renovations.

By S.K Chik. Introduction At each given date, our banker should send us a statement which shows the details of our bank transactions during a particular.

Bank Reconciliations Internal Control Systems, Cash and Receivables.

ACCT 201 ACCT 201 ACCT 201 Reporting and Analyzing Cash and Internal Controls UAA – ACCT 201 Principles of Financial Accounting Dr. Fred Barbee Chapter.

The Accounting System & Double Entry Bookkeeping The principles of double entry bookkeeping and the effect.

Financial Accounting 1 Lecture – 26 Recap With the increase in business, it becomes difficult to maintain separate accounts for every Debtor and every.

Banking & Bank Reconciliation Looking at the cash book and bank statement, identifying the difference between the values.

Joint Venture Accounts Chapter 40. Nature of joint ventures Sometimes a particular business venture can best be done by two or more businesses joining.

Chapter 25 Bank Reconciliation Statement. Aims To ensure that the difference between the balance in the Bank Statement and the balance in the Cash Book.

 Bank reconciliation statement is a report which compares the bank balance as per company's accounting records with the balance stated in the bank statement.

BANK RECONCILIATION STATEMENTS.

0 Glencoe Accounting Unit 5 Chapter 24 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved. Unit 5 Accounting for Special Procedures Chapter.

Introduction to Book-keeping and Accounting. What is Book-Keeping? Recording business transactions in financial terms.

Accounting & Financial Analysis 1 Lecture 5

Financial Accounting 1 Lecture – 23 Recap Bank reconciliation Balance in our bank book is usually a debit balance, but it can be credit in case of running.

Bank Reconciliation. Cash Book Bank Statement Reconcile.

© 2014 Cengage Learning. All Rights Reserved. Learning Objectives © 2014 Cengage Learning. All Rights Reserved. LO7 Record an entry to receive cash on.

© 2009, Educational Institute Chapter 8 Front Office Accounting Managing Front Office Operations Eighth Edition (333TXT or 333CIN)

Unit 5 – Business Accounting

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Thursday April 19, 2012 Top Ten Reasons Your Accountant is so Dumb!

CASH BOOK The cash book is merely the cash account removed from the ledger and bound in a separate book for the sake of convenience. Cash transactions.

9.3 Accounting Controls for Cash Bank Reconciliation Both the bank & the business keep a record of cash for the business but at the end of the month the.

Business Technology Mr. Bernstein Greene, pp Recordkeeping for Businesses December 11, 2013.

Entrepreneurship Mr. Bernstein Preparing Financial Statements, pp December 2015.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 11-4 Posting Special Journal Totals to a General Ledger.

CDA COLLEGE ACC101: BOOK KEEPING 1 Lecture 6 Lecture 6 Lecturer: Kleanthis Zisimos.

Learning Outcomes Identify in both the cash book and the bank statement, the receipts and payments that appear in both. Identify in both the cash book.

Chapter 11 Journalizing Sales and Cash Receipts. Customer n A person or business to whom merchandise or services are sold.

Sales and Cash Receipts Journal Review. Lesson 10-1.

Financial Accounting 1 Lecture – 22 Reasons for Difference Between Bank Book and Bank Statement Receipts are recorded by us on the date of receipt of.

Unit 1 - Introduction to Financial Accounting Bank Reconciliation Statements Mr. BarryA-level Accounting Year 12.

Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 35.1 Chapter 35 Single entry and.

SUBSIDIARY BOOKS OF FINANCIAL INSTITUTIONS – Cash Book

© 2015 Cengage Learning. All Rights Reserved. Learning Objectives © 2015 Cengage Learning. All Rights Reserved. LO6 Journalize transactions for installment.

Advanced Financial Accounting FIN-611 Mian Ahmad Farhan Lecture-4 Single Entry.

Double-entry accounting

Do Now Write down the Normal Balances of the following accounts: Cash

Journalizing Transactions

Preparing Financial Statements Incomplete Records

FINANCIAL RESOURCES MANAGEMENT

Bank Reconciliation Statements

Chapter 11—Posting to General and Subsidiary Ledgers

Fixed Assets Fixed assets are those assets: that have a long life,

ADJUSTMENTS TO FINAL ACCOUNTS

Reconciling a Bank Statement

Chapter 11: accounting for sales tax

Journals, Source Documents, and Recording Entries in a Journal

Journals, Source Documents, and Recording Entries in a Journal

LESSON 3-2 Examples? Check Receipt Memos Sales invoice Calculator Tape

Posting Special Journal Totals to a General Ledger

Unit 10 Recording Financial Transactions

Financial Accounting Lecture 02.

AQA Accounting - AS (Award Code 1121)

BANK RECONCILIATION LECTURE NOTES BY MR. S. NDHLOVU

A business using the direct write-off method to write off uncollectible accounts converts an account receivable to an expense when it become clear the.

Posting Special Journal Totals to a General Ledger

Journals, Source Documents, and Recording Entries in a Journal

Posting Special Journal Totals to a General Ledger

RECEIPT RECEIPT RECEIPT $ $ Amount Dollars $ Date No.

RECEIPT RECEIPT RECEIPT $ $ Amount Dollars $ Date No.

Double-entry accounting

Unit 41 Maintaining Accounts.

RECEIPT RECEIPT RECEIPT $ $ Amount Dollars $ Date No.

Bank credit memo (advice)

Presentation transcript:

What is meant by the term Dual Accounting?

I would charge this type of Vatable Tax on my Sales. What is it?

What is the formula for calculating the amount of tax that I may owe to HMRC?

Describe 2 differences between book-keeping and accounting

Describe 3 reasons for maintain accurate financial records

This is a type of book whereby I maintain a record of all my Receipts and Payments

This type of Balance is shown at the top of the Cash Book at the start of the accounting period

Term used to describe amounts that have paid in to a bank account but not yet cleared through the banking system

These type of cheques are showing in our Cash Book but have not yet cleared through the banking system

What is the difference between Single Entry Book-keeping and Double Entry Book-keeping