TERM 2 Week / Hour
Topic
Content
3 weeks (Weeks 1-3)
1. Financial accounting of partnerships ± analysis and interpretation
4 weeks (Weeks 4-7)
2. Financial accounting of non-profit organisations (clubs)
1 week (Week 8) 2 Weeks (Week &10)
Revision exercises
Analysis and interpretation of financial statements and notes Revision of the following: Gross profit on sales Gross profit on cost of sales Net profit on sales Operating expenses on sales Operating profit on sales Solvency ratio Current ratio Acid test ratio Introduction and covering the following: Stock turnover rate Stock holding period $YHUDJH GHEWRUV¶ FROOHFWLRQ SHULRG $YHUDJH FUHGLWRUV¶ SD\PHQW SHULRG Debt equity ratio (gearing) 3DUWQHUV¶ HDUQLQJV Return oQ SDUWQHUV¶ HTXLW\ Definition and explanation of accounting concepts unique to non-profit organisations (clubs): Non-profit organisations Constitution Accumulated funds Membership fees Entrance fees Affiliation fees Surplus Deficit Accounting cycle for non-profit organisations (clubs): Journals Post to the ledger Draft a Trial Balance Statement of receipt and payment Comparison between Income Statements and Balance Sheets of partnerships and clubs Revise topics covered during first two terms.
Mid-year examination
22
Recommended Resources Textbook
Textbook Constitutions of clubs Accounting stationery
Textbook exercises