Acca financial Accounting (FA) Study Text ac ca (FA)

Chapter learning objectives 

Upon completion of this chapter you will be able to: 

•

understand and illustrate the use of journals and the posting

of journals into ledger accounts

•

illustrate how to balance and close a ledger account

•

record sales, purchase and cash transactions in ledger

accounts.

Chapter 

4 

PER

 

One of the PER performance objectives (PO6) is 

to record and process transactions and events. 

Working through this chapter should help you 

understand how to demonstrate that objective. 

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Recording basic transactions and balancing the ledgers 

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KAPLAN PUBLISHING

 

1 Overview 

 

 

 

 

Introduction 

 

This chapter develops the principles introduced in the previous chapter. 

The nature and recording of cash and credit transactions is also 

considered. 

Much of the content of this chapter is new. However, it is an important 

foundation for your future ACCA studies, in particular for Financial 

Reporting and Strategic Business Reporting.