I n t e r a c t I v e t e X t foundations in Accountancy/ acca financial accounting (ffa/FA) bpp learning Media is an acca approved Content Provider

PART E: PREPARING A TRIAL BALANCE 

 

276

 

 

Study Guide 

Intellectual level 

 

 

E  Preparing a trial balance 

 

 

 

2  Correction of errors 

 

 

 

(a)  Identify the types of error which may occur in bookkeeping 

systems. 

K 

 

 

(b)  Identify errors which would be highlighted by the extraction of 

a trial balance. 

K 

 

 

(c)  Prepare journal entries to correct errors. 

S 

 

 

(d)  Calculate and understand the impact of errors on the 

statement of profit or loss and other comprehensive income 

and statement of financial position. 

S 

 

 

5 Suspense 

accounts 

 

 

 

(a)  Understand the purpose of a suspense account. 

K 

 

 

(b)  Identify errors leading to the creation of a suspense account. 

K 

 

 

(c)  Record entries in a suspense account. 

S 

 

 

(d)  Make journal entries to clear a suspense account. 

S