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SS1: FINANCIAL ACCOUNTING - 1ST TERM

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  1. Introduction to Booking Keeping and Accounting | Week 1
    11 Topics
    |
    1 Quiz
  2. Introduction to Books of Account | Week 2
    6 Topics
    |
    1 Quiz
  3. Subsidiary Books of Account I | Week 3
    4 Topics
    |
    1 Quiz
  4. Subsidiary Books of Account II | Week 4
    4 Topics
    |
    1 Quiz
  5. Principles of Double Entry Book Keeping | Week 5
    1 Topic
    |
    1 Quiz
  6. Cash Book | Week 6
    6 Topics
    |
    1 Quiz
  7. Petty Cash Book | Week 7
    1 Topic
    |
    1 Quiz
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Topic Content:

  • Source Documents

What are Source Documents?

Source Documents are written evidence of business transactions that describe the essential facts of those transactions. They provide adequate information for preparing the books of account.

The documents are as follows:

(1) Invoice
(2) Receipts
(3) Credit note
(4) Debit note
(5) Petty Cash Voucher
(6) Statement of accounts
(7) Cheque

1. Invoice:

It sets out the full details of goods sent by the suppliers to the buyer stating the quantity, price, discount given, and terms of payment.

Uses of Invoice:

(i) It shows the discount given to customers.
(ii) Shows the number or quantity of goods.
(iii) Shows the terms of payment.

 

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