Accounting principles and the accounting equation.
Never look at the solution before spending at least 30 minutes trying to solve the problem yourself.
| Chapter Topic | Typical solution components | |----------------------------------------|-----------------------------------------------| | Rectification of errors | Journal entries with suspense account | | Final accounts (sole trader) | Trading, P&L, Balance Sheet with adjustments | | Bills of exchange | Bills receivable/payable, renewal, dishonor | | Single entry / incomplete records | Statement of affairs, conversion method | | Partnership – admission/retirement | Revaluation, goodwill, capital adjustment | | Company accounts (issue of shares) | Journal entries, calls, forfeiture |