CXC CSEC Principles of Accounts (POA) exam guide: Section 2: The Classified Balance Sheet
CXC CSEC Principles of Accounts Exam Guide
Section 2: THE CLASSIFIED BALANCE SHEET
|1.||Explain the concept of a Balance sheet
|Definition and purpose of a Balance Sheet
|2.||Identify the components of a Balance Sheet;
Definition and examples of
|3.||Use the Balance Sheet/Accounting equation;
|Balance Sheet equation A= C+L
Construct a simple Balance Sheet;
|Preparation of Balance Sheets.
|5.||Give examples of different types of assets and liabilities;
Definition and examples of:
|6.||Construct classified Balance Sheets;
||Arrangements of Assets and Liabilities order of:
|7.||Determine which terms in a Balance Sheet will change as a result of various transactions.
|Effect of transactions on Balance Sheet items – increase or decrease in terms while marinating the Balance Sheet equation.
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