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Social Sciences

Principles of Accounts

Covers bookkeeping, financial statements, partnership accounts, company accounts, and cost accounting.

2
Topics
4
Practice Questions

Topics to Revise

1

Bookkeeping & Double Entry

5 key points

2

Financial Statements

5 key points

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Key Points: Bookkeeping & Double Entry

  • Double entry: every debit has an equal credit
  • Assets = Liabilities + Capital (accounting equation)
  • Debit: assets ↑, expenses ↑; Credit: liabilities ↑, income ↑
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