Level 2 Book-keeping and Accounts Teachers’ Toolkit (Sample) January 2010 For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk INTRODUCTION Welcome to the Teachers’ Toolkit for Level 2 Book-keeping and Accounts. This Teachers’ Toolkit is a set of inter-related materials‚ developed by experienced teachers and the Chief Examiner‚ to support the teaching and learning of the qualification content. The main resource in the toolkit
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Special Journals and Subsidiary Ledgers The four different types of special journals are sales journal‚ cash receipts journal‚ purchase journal‚ and cash payments journal. Special journals reduce the time needed to complete the posting process and they permit greater division of labor‚ this allows several people to record entries in different journals at the same time. When a transaction cannot be recorded in a special journal it is recorded in a general journal. A sales journal would
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have been made from a company’s bank account. You would use this when a company makes a payment from their account. A subsidiary ledger is a group of accounts with a common characteristic. Its purpose is to free the general ledger from the details of the individual balances. It is an addition to‚ and an expansion of‚ the general ledger. A control account is a general ledger account that summarizes subsidiary ledger data. Its purpose is to keep the general ledger free of details‚ yet have the correct
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LCCI International Qualifications Book Keeping & Accounts Level 2 Model Answers Series 3 2010 (2007) For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk Book Keeping & Accounts Level 2 Series 3 2010 How to use this booklet Model Answers have been developed by EDI to offer additional information and guidance to Centres‚ teachers and candidates as they prepare for LCCI International Qualifications. The contents of this
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I am just ONE girl in my sorority supporting our philanthropy. I am just ONE student who participates in club sports. I am just ONE volunteer of the Big Brother Big Sister program. I am just ONE of many students who plan events on campus. I am just ONE student on Saint Joseph’s University’s Dean’s List. Although there are many students that I can easily be compared to‚ I have spent my time striving to make the most of my involvement. I have lived my life by the Abraham Lincoln quote‚ “In the end
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1. Clubs are mainly financed by monthly subscriptions from members‚ known as membership fees. The amount of membership fees and how it will be paid is clearly stipulated in the constitution of the club‚ and is decided upon by the Management Committee. Additional income that clubs operate on are entrance fees‚ which are paid once by new members‚ profit from sale of refreshments‚ profit on sale of jerseys‚ tracksuits‚ shirts and socks. Donations received is also considered as an income‚ as well as
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Accounting Cycle is an accounting process that involve a series of procedures in collection‚ processing‚ and communication of financial information. There are 7 basis steps of accounting cycle which comprise of source documents‚ prima entry‚ ledger‚ draft trial balances & financial statement‚ adjustments‚ adjusted trial balance & financial statement and closing entries. At first source documents‚ are things like invoice‚ credit note‚ debit note‚ cash bill‚ payment voucher‚ official
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A subsidiary ledger is a ledger that includes all of the details of a general ledger‚ and it holds accounts with similar attributes. The purpose is that is can contain things such as accounts receivable and accounts payable and it can show the sum total. The advantages of using subsidiary ledgers is that the sum of all the accounts is kept in the General Ledger and all of the details of the accounts are kept in the subsidiary ledger which is separate so you can keep them in different columns so to
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Different ways of keeping fit. Our health depends on our life. Most people are busy working‚ pupils are busy studying‚ but they always find time to relax and enjoy themselves. Physical culture and sports in our country are part of our cultural and public life. It is very popular with young people. Sport is also paid great attention in schools‚ colleges and universities. Every city and town has a few stadiums‚ swimming pools‚ amateur clubs and keep-fit centers where people go aerobics‚ yoga‚ body-building
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bank‚ potential vendors‚ or other interested parties. An account system is also important to process sales‚ purchase orders‚ invoices‚ payroll‚ and other business functions manually. The accounting system must be scalable‚ secure and gather data feed from other business systems to collect up-to-date business finances. The installed REMS came with the following Finance and Accounting Financial Modules: General Ledger Module‚ Accounts Payable Module‚ POS module‚ Bank Reconciliation Module‚
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