ExpertSECTION D — Recording transactions and events
Master the mechanics of double-entry bookkeeping for complex business transactions. From inventory valuation to non-current assets and equity structures, this section builds the core ledger skills required for financial statement preparation.
Start with
Sales and Purchases
Lessons in this section
1Sales and Purchases
Record sale and purchase transactions in the general ledger accounts using correct double-entry
Cash
Record cash transactions in the bank general ledger account using correct double-entry
Inventories
Describe the need for adjustments to inventories when preparing financial statements
Tangible Non-Current Assets
Define non-current assets and compare them with current assets
Depreciation
Explain the purpose of depreciation
Intangible Non-Current Assets and Amortisation
Identify types of intangible assets
Accrued Expenses, Prepaid Expenses, Accrued Income, and Deferred Income
Apply accrual accounting to accruals, prepayments, accrued income and deferred income
Receivables and Payables
Identify and explain examples of receivables and payables
Provisions and Contingencies
Define a provision, contingent liability and contingent asset under IFRS Accounting Standards
Capital Structure and Finance Costs
Describe the capital structure of a limited liability company including ordinary shares, preference shares and borrowings
Section D Practice Questions
Test your knowledge across all Section D topics