Welcome to our CSEC Principles of Accounts Course!
Money makes the world go round — and this course shows you how to keep track of it! From balancing books to preparing financial statements, you’ll learn the skills needed to understand, organize, and manage accounts with confidence. With clear lessons, practical examples, and exam-focused practice, you’ll see that accounting isn’t just about numbers — it’s about making sense of how businesses work. Let’s dive in and make P.O.A. simple, useful, and even enjoyable!
Select by Topic:
Introduction to Accounting
2. Users of accounting information
3. Ethics in accounting
4. Role of technology in accounting
Accounting as a System
1. Accounting cycle
2. Accounting concepts and conventions
3. Types of business organizations
Books of Original Entry
1. Source documents
2. Recording in day books
3. Totals from books of original entry and how they're treated
Ledgers and the Trial Balance
1. Classification of accounts
2. Types of ledgers
3. Posting from original entry to ledgers
4. Balancing accounts, closing accounts, and preparing a trial balance
5. Uses and limitations of a trial balance
Financial Statements of the Sole Trader
1. Income statement
2. Working capital / net current assets
3. Financial ratios (profitability, liquidity)
4. Interpreting results and making recommendations based on ratios
Accounting Adjustments
1. Concepts behind adjustments
2. Making journal entries for prepayments, accruals, depreciation
3. Distinguishing capital vs revenue expenditure
4. Preparing adjusted financial statements after making adjustments
Control Systems
1. Purpose of control systems in accounting
2. Types: suspense accounts, bank reconciliation, control accounts
3. Types of accounting errors
4. Correcting errors via journal entries
5. Bank reconciliation statements
Accounting for Partnerships
1. Nature & features of partnership
2. Partnership agreement components
3. Journal entries for partners’ capital accounts
4. Sharing profit/loss among partners
5. Appropriation account and partners’ current accounts
6. Preparation of partnership balance sheet
Accounting for Companies
1. Features of limited liability companies
2. Raising capital
3. Types of shares, rights of shareholders
4. Journal entries for share issues / debentures
5. Dividends and reserves appropriation
6. Final accounts of companies / co-ops
7. Receipts & payments account for non-profit organisations
8. Ratio analysis for companies
Manufacturing Accounts & Inventory Control
1. Cost elements: direct materials, labour, overheads
2. Manufacturing account
3. Unit cost calculation
4. Final accounts of manufacturing business
5. Costing principles: mark-up, absorption costing, etc.
6. Inventory valuation methods
7. Effect of valuation methods on profit
Accounting for the Entrepreneur
1. Methods of payment
2. Source documents for payroll
3. Use of spreadsheets / software for payroll
4. Statutory vs voluntary deductions
5. Calculating gross pay, net pay, overtime, and statutory deductions
6. Cash flow projections over a 6-month period
7. Preparing budgets
8. Developing a simple business plan
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