CXC CSEC Principles of Accounts (POA) exam guide: Section 2: The Classified Balance Sheet



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

SPECIFIC OBJECTIVES

The students should be able to:

CONTENT
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

      Assets,

      Liabilities,

      Capital.

      3. Use the Balance Sheet/Accounting equation;

        Balance Sheet equation A= C+L

        4.

        Construct a simple Balance Sheet;

          Preparation of Balance Sheets.

          5. Give examples of different types of assets and liabilities;


            Definition and examples of:

            Fixed Assets,

            Currents Assets,

            Current Liabilities,

            Long-term Liabilities.

            6. Construct classified Balance Sheets;


              Arrangements of Assets and Liabilities order of:
                1. permanence
                2. liquidity

              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.


              Fivestar

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              guest (not verified) 26 February 2011 - 11:59am

              I daneisha is asking for anyone undivided attention for help in the trial balance sheet

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              jayleene primus (not verified) 17 October 2011 - 5:53pm

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              Gayle (not verified) 29 November 2011 - 8:37pm

              IM TRYING TO HELP MY NEPHEWS WITH THEIR POA SBA BUT I DO NOT KNOW MUCH ABOUT THE SUBJECT. CAN ANYONE GIVE ME SOME INFORMATION ABOUT THE PERIOD OF TIME THAT THE ACCOUNTS IS SUPPOSED TO COVER. I READ A FEW PLACES THAT IT COULD BE ONE MONTH. BUT SOMEONE ELSE TOLD ME THAT A TRIAL BALANCE HAS TO BE DONE FOR A PERIOD OF A YEAR. HELP ANYONE? THANKS!

              Kita (not verified) 4 October 2012 - 9:06pm

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