The syllabus introduces the candidate to the fundamentals of Maintaining Financial Records, explaining its context and purpose with reference to accounts preparation. The syllabus then concentrates in depth on the double-entry system and on recording, processing, and reporting business transactions and events, including the specific accounting for fixed assets. The syllabus then covers the use of the extended trial balance and how to identify and correct errors, including the reconciliation of the control accounts, and the posting of period end adjustments. The syllabus also covers the preparation of final accounts for sole traders and for partnerships.
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Examination structure