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Level 3 Foundation Diploma in Accountancy

Books of Prime Entry Overview

AB301 · Recording Financial Transactions — Week 5 of 16

CourseAB301
Week5 of 16
SemesterI
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This week’s topics

Books of Prime Entry Overview

  1. Purpose of books of original entry
  2. Sales Day Book and Purchases Day Book
  3. Sales Returns and Purchases Returns Day Books
  4. The General Journal
  5. The books of Prime Entry (part a) - ACCA Financial Accounting (FA) lectures
  6. The books of Prime Entry (part b) - ACCA Financial Accounting (FA) lectures
  7. The books of Prime Entry (part c) - ACCA Financial Accounting (FA) lectures

What you will be able to do

  • 2.1 Describe principal source documents and Books of Prime (Original) Entry used to record financial transactions.

Activity

Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: describe principal source documents and Books of Prime (Original) Entry used to record financial transactions.

Study materials

Videos

  • The books of Prime Entry (part a) - ACCA Financial Accounting (FA) lectures · YouTube · OpenTuition · 23 min · for registered students
  • The books of Prime Entry (part b) - ACCA Financial Accounting (FA) lectures · YouTube · OpenTuition · 16 min · for registered students
  • The books of Prime Entry (part c) - ACCA Financial Accounting (FA) lectures · YouTube · OpenTuition · 24 min · for registered students

Further resources

  • Principles of Accounting, Volume 1: Financial Accounting, ch. 7: Accounting Information Systems · PDF · OpenStax, textbook chapter; pp. 423–494 · for registered students
  • Introduction to Financial Accounting, Lyryx 2023-A, ch. 2: The Accounting Process · PDF · Other, textbook chapter; pp. 45–98 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
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Course plan
  • Week 1: Purpose of Recording Financial Transactions
  • Week 2: Stakeholder Needs and Financial Information
  • Week 3: Principal Source Documents
  • Week 4: Preparation of Business Source Documents
  • Week 5: Books of Prime Entry Overview
  • Week 6: Cash and Bank Prime Records
  • Week 7: Preparing Books of Prime Entry
  • Midterm: Midterm evaluation
  • Week 9: Capital and Revenue Classification
  • Week 10: Accounting Approaches for Capital and Revenue Items
  • Week 11: Evaluating Misclassification of Capital and Revenue
  • Week 12: Applying Recording Financial Transactions in practice: case…
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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