CXC CSEC Principles of Accounts (POA) exam guide: Section 2: The Classified Balance Sheet



CXC CSEC Principles of Accounts (POA) Exam guide: Section 2: THE CLASSIFIED BALANCE SHEET

CXC CSEC Principles of Accounts Exam Guide

Section 2: THE CLASSIFIED BALANCE SHEET

SPECIFIC OBJECTIVES

The students should be able to:

CONTENT
1. Explain the concept of a Balance sheet

Definition and purpose of a Balance Sheet

2. Identify the components of a Balance Sheet;


Definition and examples of

Assets,

Liabilities,

Capital.

3. Use the Balance Sheet/Accounting equation;

Balance Sheet equation A= C+L

4.

Construct a simple Balance Sheet;

Preparation of Balance Sheets.

5. Give examples of different types of assets and liabilities;


Definition and examples of:

Fixed Assets,

Currents Assets,

Current Liabilities,

Long-term Liabilities.

6. Construct classified Balance Sheets;


Arrangements of Assets and Liabilities order of:
    1. permanence
    2. liquidity

7. Determine which terms in a Balance Sheet will change as a result of various transactions.

Effect of transactions on Balance Sheet items – increase or decrease in terms while marinating the Balance Sheet equation.


Fivestar

nicbrat (not verified) 23 January 2011 - 8:46am

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guest (not verified) 26 February 2011 - 11:59am

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jayleene primus (not verified) 17 October 2011 - 5:53pm

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Gayle (not verified) 29 November 2011 - 8:37pm

IM TRYING TO HELP MY NEPHEWS WITH THEIR POA SBA BUT I DO NOT KNOW MUCH ABOUT THE SUBJECT. CAN ANYONE GIVE ME SOME INFORMATION ABOUT THE PERIOD OF TIME THAT THE ACCOUNTS IS SUPPOSED TO COVER. I READ A FEW PLACES THAT IT COULD BE ONE MONTH. BUT SOMEONE ELSE TOLD ME THAT A TRIAL BALANCE HAS TO BE DONE FOR A PERIOD OF A YEAR. HELP ANYONE? THANKS!

Kita (not verified) 4 October 2012 - 9:06pm

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