Revision Notes

A2 1 Accounting — Past Papers

June 2015 Question 2

Workings:

Closing Inventory
At 5 April =  6 750
Goods sold = (8 250 / 1.2 = 6875)
Purchased =  (4 950)
At 31 March = 10 025 Closing Inventory

                          £
Opening…

A2 1 Accounting — Chap 2 — Incomplete Recs

Worked Example from page 23 - 24 Textbook

1) Calculate the amount of credit sales during the year using a control account.
Dr               Sales Control Account               Cr…

A2 1 Business Studies — Questions/Answers

June 2015 Question 1

1) Explain two benefits to Reachit Ltd of having a mission statement. [4]

A mission statement is a description of Reachit Ltd's key business objectives. Reachit Ltd's mission statement…

AS 2 — Further Aspects of Final Accounts

Accruals and Prepayments of Income

Accrual of Income — An amount due in an accounting period which has not been received at the end of that period.

• Added to the income in the trial…

AS 2 Accounting — Accounting Concepts and Inventory Valuation

Accounting Concepts

Business Entity — The final accounts record and report on the activities of a particular business. Don’t include the assets and liabilities of people running the…

A2 SSD — Methodologies

Waterfall

• Each phase is fully completed, with deliverables, before the next phase is…

A2 SSD — SQL

SQL

SQL is a non-procedural language (no branching or iteration) where the result wanted is described, not…

A2 SSD — Normalisation

Normalisation

Normalisation is a formal bottom up process. It begins by examining the data to be stored by looking at documentation and forms used by the organisation.

A2 SSD — Entity Relationship Models

ER Modelling