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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:

  • Double Entry Principle
  • Summary of the Double Entry Principle
  • Advantages of Double Entry Principle
  • Differences between Debit and Credit Entry

The principle of Double entry States that for every “debit entry”, there must be a corresponding “credit entry” and vice versa. It is the foundation of bookkeeping.

The double-entry system of accounting was first recorded by an Italian mathematician, Luca Pacioli, who is widely known today as the “Father of Accounting”, in 1544 in Venice.

 

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