Comprehensive notes for AC100 Module 1: Financial Accounting. Includes very detailed notes on calculations (3 statements, double-entries, consolidated balance sheets, and financial ratios) as well as a summary for the theory. These notes are all you need to get a high First in these questions.
AC100 Elements of Accounting and Finance - Financial Accounting Notes
Table of Contents
Section 4: Cash Flow Statement ............... 9
Section 1: Statement of Financial Positions
Section 5: Consolidated Balance Sheet . 10
(elements and template) ............................ 2
Section 6: Financial Ratios calculations . 13
Section 2: Income Statement (elements
and templates) ........................................... 3 Section 7: Theory Notes - Financial
Accounting ............................................... 16
Section 3: Double-entries for Adjusted
Accounts .................................................... 4 Differences between financial accounting
and management accounting ................... 16
Accrued expense ........................................ 4
Different entities ........................................ 16
Bad debts written off .................................. 4
Advantages and Disadvantages of limited
Bonus shares .............................................. 4
liability ....................................................... 16
Cost of goods sold ..................................... 4
Sources of accounting rules ..................... 17
Depreciation................................................ 4
Usefulness of accounting information ...... 17
Disposal ...................................................... 4
Enhancing qualitative characterises ......... 17
Dividends .................................................... 5
Accounting conventions ........................... 17
Goodwill ...................................................... 5
From inventory to cost of sales................. 17
Impairment loss .......................................... 5
Regular expenses v.s. provisions ............. 17
Interest ........................................................ 6
Intangible non-current assets ................... 18
Inventory write-downs (when NRV < initial
Depreciation, amortisation and impairment
cost) ............................................................ 6
.................................................................. 18
Long-term borrowings ................................ 6
Valuation of inventory ............................... 18
Prepayments ............................................... 6
Types of shares ......................................... 18
Provision for doubtful debt ......................... 6
Types of reserves ...................................... 18
Follow-up of provision for doubtful debt .... 6
Bonus shares ............................................ 18
Release of provision for doubtful debt ....... 7
Long-term borrowings .............................. 18
Retained earning ......................................... 7
Importance of financial gearing ................ 19
Revaluations ............................................... 7
Cash flow and lifecycle of a business ....... 19
Shares ......................................................... 7
Cash flow analysis .................................... 19
Tax expense ............................................... 7
Identifying the growing firm ...................... 20
VAT (primarily borne by the ultimate
consumer) ................................................... 7
AC100 2017-2018; leoniedong@hotmail.com 1
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller leoniedong. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.11. You're not tied to anything after your purchase.
