This week’s topics
The Double-Entry Bookkeeping System
- Rules of debits and credits
- Recording transactions in books of prime entry
- Posting to nominal and general ledgers
- Extracting an initial trial balance
- Double Entry Bookkeeping (part a) - ACCA Financial Accounting (FA) lectures
- Double Entry Bookkeeping (part b) - ACCA Financial Accounting (FA) lectures
- The books of Prime Entry (part a) - ACCA Financial Accounting (FA) lectures
What you will be able to do
- 1.3 Explain the accounting equation.
- 1.4 Explain how to record financial transactions using the double-entry method of bookkeeping.
Activity
Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: explain the accounting equation.
Study materials
Videos
- Double Entry Bookkeeping (part a) - ACCA Financial Accounting (FA) lectures · YouTube · OpenTuition · 29 min · for registered students
- Double Entry Bookkeeping (part b) - ACCA Financial Accounting (FA) lectures · YouTube · OpenTuition · 24 min · for registered students
- The books of Prime Entry (part a) - ACCA Financial Accounting (FA) lectures · YouTube · OpenTuition · 23 min · for registered students
Further resources
- Principles of Accounting Vol. 1, ch. 3.5–3.6: Journals, T-accounts and the trial balance · PDF · OpenStax, textbook chapter; pp. 123–161 · 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
- Financial Accounting, ch. 4: How Does an Organization Accumulate and Organize the Information Necessary to Prepare Financial Statements? · PDF · Saylor Academy, textbook chapter; pp. 100–144 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
