Sba on Someone's Business
Principles of Accounts
Principles of Accounts
School Based Assessment
School Based Assessment
Student Name: Colin Williams
Candidate Number:
Centre Number:
Name of Subject: Principles of Accounts
Name of School: St Jago High
Form: 5j
Teacher’s Name: Mr Burton
Date Submitted: 22/2/2013
Introduction
This school based assessment is based on a sole trader entrepreneur, Sidnay Bingham, who owns and operates a business that makes and sells durable umbrella for kids. It was located at an unoccupied room at the back of her house where she employed two persons. Entries were recorded in Ledgers, Journals and Cash Book. There was a preparation of a Manufacturing, Trading and Profit and Loss Account and the extraction and draft of a Balance Sheet and Trial Balance for the month. Receipts, Invoices, Bank Document, Debit and Credit note were also written up. A minimum of four accounting ratios were calculated and comments were made on the performance using charts. Recommendations were also made. All entries were made on the month of May.
Acknowledgment
I want to thank everyone who helped me to put this school based assessment together. Firstly I want to thank Mr Burton for giving me this School Based Assessment which gave me experience on setting up a real business and how to account for every transaction that goes on in the business. Also I want to thank my friends and family who helped me to gather the data. Finally I want to thank God for giving me the strength to do this project.
Table of Contents Aim of Project 1 Aim of Business 2 Description of Business 3 Ledgers 4 General Ledger 5 Sales Ledger 7 Purchases Ledger 7 Journals 8 General Journal 9 Purchases Journal 9 Sales Journal 9 Return Inwards Journal 9 Cash Book 10 Trial Balance 12 Final Accounts 14 Manufacturing, Trading and Profit and Loss Account 15 Balance Sheet 15 Accounting Ratios 16 Comment on the Business 18 Performance of the
Principles of Accounts
School Based Assessment
School Based Assessment
Student Name: Colin Williams
Candidate Number:
Centre Number:
Name of Subject: Principles of Accounts
Name of School: St Jago High
Form: 5j
Teacher’s Name: Mr Burton
Date Submitted: 22/2/2013
Introduction
This school based assessment is based on a sole trader entrepreneur, Sidnay Bingham, who owns and operates a business that makes and sells durable umbrella for kids. It was located at an unoccupied room at the back of her house where she employed two persons. Entries were recorded in Ledgers, Journals and Cash Book. There was a preparation of a Manufacturing, Trading and Profit and Loss Account and the extraction and draft of a Balance Sheet and Trial Balance for the month. Receipts, Invoices, Bank Document, Debit and Credit note were also written up. A minimum of four accounting ratios were calculated and comments were made on the performance using charts. Recommendations were also made. All entries were made on the month of May.
Acknowledgment
I want to thank everyone who helped me to put this school based assessment together. Firstly I want to thank Mr Burton for giving me this School Based Assessment which gave me experience on setting up a real business and how to account for every transaction that goes on in the business. Also I want to thank my friends and family who helped me to gather the data. Finally I want to thank God for giving me the strength to do this project.
Table of Contents Aim of Project 1 Aim of Business 2 Description of Business 3 Ledgers 4 General Ledger 5 Sales Ledger 7 Purchases Ledger 7 Journals 8 General Journal 9 Purchases Journal 9 Sales Journal 9 Return Inwards Journal 9 Cash Book 10 Trial Balance 12 Final Accounts 14 Manufacturing, Trading and Profit and Loss Account 15 Balance Sheet 15 Accounting Ratios 16 Comment on the Business 18 Performance of the
Bibliography: * Dr. Alan Whitcomb with Macpherson Barnes, Essential Principles of Business for CSEC. 3rd Edition © 2006 * Frank Wood and Sheila Robinson, Principles of Accounts for the Caribbean. 4th Edition © 2000