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Level 3 Foundation Diploma in Accountancy

Preparing and Balancing the Three-Column Cash Book

AB303 · Maintaining Financial Records — Week 9 of 16

CourseAB303
Week9 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Preparing and Balancing the Three-Column Cash Book

  1. Entering transactions involving cash discounts
  2. Balancing off cash and bank accounts
  3. Transferring discount totals to general ledger
  4. Carrying down and bringing down balances
  5. T-ACCOUNTS: Explained in (Almost) 2 Minutes!
  6. GENERAL LEDGER: Explained in (Almost) 2 Minutes!

What you will be able to do

  • 3.3 Explain the accounting treatment for cash and trade discounts.
  • 3.4 Prepare a three-column cash book from given data.

Activity

Start with this week’s 2 videos, then: Seminar, guided reading and a short written task: explain the accounting treatment for cash and trade discounts.

Study materials

Videos

  • T-ACCOUNTS: Explained in (Almost) 2 Minutes! · YouTube · Accounting Stuff · 5 min · for registered students
  • GENERAL LEDGER: Explained in (Almost) 2 Minutes! · YouTube · Accounting Stuff · 6 min · for registered students

Further resources

  • Introduction to Financial Accounting, Lyryx 2023-A, ch. 5: Accounting for the Sale of Goods · PDF · Other, textbook chapter; pp. 185–220 · for registered students
  • Principles of Accounting, Volume 1: Financial Accounting, ch. 6: Merchandising Transactions · PDF · OpenStax, textbook chapter; pp. 343–422 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
MidtermWeek 10
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Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

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Course plan
  • Week 1: The Accounting Equation
  • Week 2: Fundamental Accounting Concepts
  • Week 3: Double-Entry Bookkeeping Principles
  • Week 4: Processing Double-Entry Transactions
  • Week 5: The Trial Balance
  • Week 6: Trade and Cash Discounts
  • Week 7: The Three-Column Cash Book: Structure and Purpose
  • Midterm: Midterm evaluation
  • Week 9: Preparing and Balancing the Three-Column Cash Book
  • Week 10: Bank Reconciliation Principles
  • Week 11: Preparing the Bank Reconciliation Statement
  • Week 12: Applying Maintaining Financial Records in practice: case st…
  • 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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