CXC CSEC Principles of Accounts (POA) exam guide: Section 3: Books of Original Entry



CXC CSEC Principles of Accounts (POA) exam guide: Section 3: Books of Original Entry

CXC CSEC Principles of Accounts (POA) exam guide

Section 3: BOOKS OF ORIGINAL ENTRY

SPECIFIC OBJECTIVES

The students should be able to:

CONTENT
1. Explain the uses of books of original entry;

The uses of Books of Original Entry:

(i) general journal

(ii)purchases book

(iii) sales

(iv) returns outwards book

(v) returns inwards book

(vi) cash book

(vii) petty cash book

2. Distinguish between cash and credit transactions;
Cash and credit transaction:

The use of:

(i) cash

(ii)cheques

(iii) credit cards

(iv) debit cards

3. Identify source documents related to books of original entry;

Source documents and the books of original entry to which they are related –

(i) sales invoice,

(ii) purchases invoice,

(iii) credit notes,

(iv) debit notes,

(v) petty cash vouchers,

(vi) receipts from cash transactions

(vii) and non-cash transactions.

4. Use source documentation to make entries into books of original entry;

Record transactions using source documents:

(i) purchases book

(ii) sales book

(iii) returns inwards book

(iv) returns outwards book

(v) cash book

(vi) petty cash book

5. Distinguish between trade and cash discounts;
Treatment of trade discounts and cash discounts.

6. Distinguish between discounts allowed and discounts received;
Cash discounts – discounts allowed and discounts received.

7.

Balance the cash book;

Balancing of the cash book

8. Interpret the balance of the cash book; The significance of the balances brought down on the cash book.

9. Balance the petty cash book; balancing the petty cash book using the Imprest System.

10. Indicate treatment of totals from books of original entry; Posting totals of books of original entry to the General Ledger.


Fivestar

Amrakah (not verified) 5 November 2010 - 2:24pm

IS IT POSSIBLE 2 GET A SPECIMEN SAMPLE OF A P.O.A. SBA?

Carant (not verified) 17 November 2011 - 4:41pm

Which is the best text book to use, i am currently using one call principles of business for cxc, a orange colour one, but i find that it has errors in it.

hey... Can anybody please help me in discussing some transactions for p.o.a.. see,, im doing an s.b.a. and i need help in finding some transactions...!! Thank you for youe consideration..

tammyG (not verified) 18 July 2014 - 10:02pm

intrested tips,i like it

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