ICAEW Accounting notes

Books of Original Entry - Answer 1. Cash Book 2. Sales Day Book (Credit Sales) 3. Purchases Day Book (Credit Purchases) 4. Petty Cash Book 5. Journal Book 6. The Payroll Statement of Financial Position - Answer SOFP - Snapshot of assets controlled, liabilities owned and capital at a point in time Statement of Profit and Loss - Answer Income and expenses over a period of time The Business entity concept - Answer Business transactions should be kept separate from the persona...

Books of Original Entry - Answer 1. Cash Book 2. Sales Day Book (Credit Sales) 3. Purchases Day Book (Credit Purchases) 4. Petty Cash Book 5. Journal Book 6. The Payroll Statement of Financial Position - Answer SOFP - Snapshot of assets controlled, liabilities owned and capital at a point in time Statement of Profit and Loss - Answer Income and expenses over a period of time The Business entity concept - Answer Business transactions should be kept separate from the persona...