JUNIOR CERTIFICATE BUSINESS STUDIES BOOKKEEPING AND …



Improving the Uptake and Results

in

Junior Certificate Business Studies Bookkeeping and Accounts.

Introduction

I have chosen this topic because of my concern that Bookkeeping and Accounts questions in the examination papers each year are often either not attempted or poorly attempted. The impact of this on the examination results and on the uptake in Leaving Certificate Accounting is serious.

In Higher Level 2010 there were:

Eight bookkeeping and account questions worth 32 marks in Section A Paper I;

One bookkeeping and account question worth 40 marks in Section B Paper 1;

Four bookkeeping and account questions / parts worth 121 marks in Paper 11.

A total of 193 or 48.25% of the examination paper consists of Bookkeeping and Accounts.

The following tables show the average popularity and average marks of these questions:

Table 1 Paper 1 Higher

|Question / Section |Popularity % |Average Marks |

|Section A |100 |49* |

| Section B Q 2 |49 |26 |

* Average for all 20 questions

Table 2 Paper 11

|Question |Popularity % |Average Marks |

|1 |28 |29 |

|2 |82 |21 |

|4 |73 |32 |

|6 |93 |31 |

In Ordinary Level 2010 there were:

Three bookkeeping and account questions worth 15 marks in Section A;

Two bookkeeping and account questions in Section B worth 120 marks.

While Q 6 Analysed Cash Book was very popular and well answered, Q 2 Final Accounts and Balance Sheet was not popular or well answered.

This is a total of 135 or 33.77% of the examination on Bookkeeping and Accounts

The effects of the above results have to be considered in the context of the minimum marks required to achieve different grade levels.

|Grade |Higher Level Section A 80 marks |Higher Level |Ordinary Level |Ordinary Level |

| | |40 marks |Section A 100 marks |60 marks |

|A |68 |34 |85 |51 |

|B |56 |28 |70 |42 |

|C |44 |22 |55 |33 |

|D |32 |16 |40 |24 |

The average marks of the Higher Level 40 mark Bookkeeping and Account questions at in 2010 were below the A grade.

Background

The Business Studies Syllabus, introduced in 1989, was first examined in 1992.

Bookkeeping and Accounts feature prominently in the syllabus and examinations.

The following tables detail the Bookkeeping and Accounts-

Table 3 The Bookkeeping and Accounts Topics on a Higher Level, Paper 1 and Paper 2 basis;

Table 4 The Bookkeeping and Accounts Topics in Ordinary Level.

Table 3 Bookkeeping and Accounts Topics in a Higher Level, Paper 1 and Paper 2

|Bookkeeping and Accounts Topics |Paper 1 |Paper 2 |

| |Section A |Section B | |

|Analysed Cash Books / Petty Cash Books for Households, Clubs, Farms and Businesses |√ |√ |√ |

|Bank Accounts and Bank Reconciliation |√ |√ |√ |

|Books of First Entry- Sales and Purchases Books, | | | |

|Sales and Purchases Returns Books, |√ | |√ |

|General Journal | | | |

|Ledger Accounts |√ | |√ |

|Trial Balance |√ | |√ |

|Control Accounts |√ | | |

|Club Accounts – Accumulated Fund Statement, |√ |√ | |

|Receipts and Payments Accounts, | | | |

|Final Accounts and Balance Sheets for Businesses |√ | |√ |

|Final Accounts and Balance Sheets for Service Firms |√ | |√ |

|Final Accounts and Balance Sheets for Clubs |√ |√ | |

|Ratio Analysis |√ |√ |√ |

|Household Budgets / Cash Flow Forecasts | |√ |√ |

Table 4 Bookkeeping and Accounts Topics in Ordinary Level

|Bookkeeping and Accounts Topics |Ordinary |

| |Section A |Section B |

|Analysed Cash Books / Petty Cash Books for Households, Clubs, Farms and Businesses |√ |√ |

|Bank Accounts |√ |√ |

|Bank Reconciliation | |√ |

|Trial Balance | |√ |

|Club Accounts – |√ |√ |

|Farm Accounts |√ | |

|Final Accounts and Balance Sheets for Businesses |√ |√ |

|Final Accounts and Balance Sheets for Service Firms |√ |√ |

|Final Accounts and Balance Sheets for Clubs |√ |√ |

|Theory on Final Accounts of Business, Service and Clubs |√ | |

|Ratio Analysis (Mark-up and Gross and Net Margins) |√ |√ |

|Household Budgets | |√ |

The following data is for years 2010 to 2006 and shows the Section A Bookkeeping and Account Style of questions examined at both Higher and Ordinary Level.

Table 5 Section A Higher Level Bookkeeping and Accounts Questions 2010 to 2006

2010

|Question |Topic |

| 1 |Theory on Bookkeeping Initials |

| 3 |Completion of Profit and Loss Appropriation Account |

| 4 |Theory on where transactions are entered – Operating Statement, Balance Sheet |

| 6 |Completion of Ledger Accounts - Double Entry |

| 8 |Recording data in Control Accounts |

|14 |Acid Test / Quick ratio |

|15 |Recording data in Sales Returns Book |

|17 |Recording data in General Journal |

2009

|Question |Topic |

| 4 |Completion of Trading Account |

| 6 |Calculation of Return on Capital Employed |

| 7 |Completion of Ledger Accounts – Double Entry |

|11 |Calculation Bad Debts written off |

|13 |Recording data in Debtors Control Accounts |

|15 |Theory on where transactions are entered – Operating Statement, Balance Sheet |

|17 |Recording data in General Journal |

|18 |Recording data in Purchases Returns Book |

2008

|Question |Topic |

| 3 |Completion of Balance Sheet |

| 5 |Ledger Accounts and Double Entry |

|10 |Calculation of Farm Current expenditure |

|13 |Recording data in Debtors Control Accounts |

|14 |Calculation of Stock Turnover |

|16 |Theory on where transactions are entered Trading A/C, P & L A/C, Balance Sheet |

|18 |Recording data in General Journal |

|19 |Theory on why Cash Flow Forecasts are prepared |

|20 |Recording data in Sales Returns Book |

2007

|Question |Topic |

| 4 |Recording data in Sales Book or Theory on Sales Returns Book |

| 9 |Recording data in Creditors Control Account |

|11 |Completion of Profit and Loss Appropriation Account |

|15 |Recording data in General Journal |

|16 |Completion of Balance Sheet |

|20 |Completion of Ledger Accounts - Double Entry |

2006

|Question |Topic |

| 3 |Trading Account or Effects of entry left out on Net Profit |

| 7 |Theory on why Farms prepare accounts |

| 8 |Theory on which book invoices and credit notes are entered in |

| 9 |Recording data in Debtors Control Accounts |

|11 |Theory on Balance Sheet terms |

|14 |Calculation of Acid Test / Quick Ratio or importance of profitability ratios |

|15 |Recording data in General Journal |

|20 |Completion of Ledger Accounts - Double Entry |

Table 6 Section A Ordinary Level Bookkeeping and Accounts Questions 2010 to 2006

2010

|Question |Topic |

| 7 |Current Assets Calculation |

| 8 |Bank Account Balancing |

|12 |Operating Statement |

2009

|Question |Topic |

| 7 |Fixed Asset Calculation |

|15 |Bank Account Balancing |

2008

|Question |Topic |

|10 |Current Asset Calculation |

|15 |Operating Statement and Balance Sheet |

|16 |Cash Account Balancing |

|17 |Income and Expenditure – Surplus / Deficit |

2007

|Question |Topic |

|10 |Current Assets Calculation |

|13 |Bank Account Balancing |

|18 |Theory on Gross Profit and Working Capital |

2006

|Question |Topic |

| 5 |Club Account Accumulation Fund Theory |

| 7 |Fixed Assets Calculation |

| 9 |Farm Accounts Theory |

|12 |Cash Account Balancing |

|15 |Petty Cash Impress Calculation |

Feel free to continue these tables back to 1992 when the Syllabus was first introduced

Please heed the Business Studies Examination Health Warning

|Business Studies Examination |

|Health Warning |

|Failure to Perform in Bookkeeping and Accounts Questions |

|Will Seriously Damage your Examination Results |

It can be clearly seen from the above data that Bookkeeping and Accounts form a major part of the Business Studies Syllabus so Three Questions worth Pondering

Why is that there is a Poor Uptake and Attempt made?

How can the Uptake in Bookkeeping and Accounts be improved?

How can the examination performance be improved?

From talking to teachers around Ireland some factors for the poor uptake are common.

Possible Factors Influencing The Uptake of Bookkeeping and Accounts

These factors are divided under three headings.

|Factors |Under Teacher’s |Outside Teacher’s |Worth Fighting |

| |Control |Control |For* |

|The Syllabus | |√ |√ |

|The Examination | |√ |√ |

|Ability Groupings (streamed/ mixed) | |√ |√ |

|Timetabling (number of class periods per week) | |√ |√ |

|Classroom facilities | |√ |√ |

|Textbooks |√ | | |

|Knowledge level of teachers |√ | |√ |

|Teachers assigned to teaching Junior Cycle classes | |√ |√ |

|Not having Accounting as a Senior Cycle Subject | |√ |√ |

|Teaching Strategies and Attitude to Bookkeeping and Accounts |√ | | |

|Cooperating teaching approach / team teaching / Subject plans |√ |√ |√ |

* Teachers can a have bigger say in a lot of the above by joining the BSTAI.

An Approach to Teaching Bookkeeping and Accounts that might improve the uptake.

I will now set out a few suggestions that might be of interest to you re my approach to teaching Bookkeeping and Accounts. This is very much a personal thing and any advice offered is based on my own experiences as a teacher and trainer of teachers.

You can win them over or lose them in first year. This is especially true if it is optional subject.

|Turn On |Turn Off |

Who Are You!

Get to know your class, ability wise, and follow an appropriate strategy;

Wow Effect!

Make the students’ experience of Bookkeeping and Accounts as enjoyable as possible.

We must market Bookkeeping and Accounts;

Yippee Effect!

Appear excited about Bookkeeping and Accounts and let your enthusiasm flow to your students- after all it’s about Recording the Receiving and Spending of Money a topic close to their hearts.

If We Do Not Record it, We May Lose it (one of the reasons for bookkeeping and accounts);

Students Experiences Effect!

Base examples used on students experiences in as far as possible.

Let them provide examples;

Turn Off Effect!

DO NOT say that Bookkeeping and Accounts is difficult, as it will put them off straight away. No Negative Thoughts Please!

I introduce Bookkeeping and Accounts in First Year through:

Personal and Household Cash and Bank Accounts, simple and analysed;

Simple Income and Expenditure Accounts and Balance Sheets of Clubs.

My Aim in First Year is to have students well versed in:

The Recording of transactions (Cash / Bank) – Date Details, Total and Analysis;

The Rules of Double Entry (cash transactions);

Balancing Accounts;

The Preparation of Income and Expenditure Accounts and Balance Sheets of Clubs.

I use appropriate templates (which in effect are similar to the present Ordinary Level Examination Paper and Higher Level Inserts)

I draw on, where possible, the students’ experiences e.g. their pocket money, their clubs.

The recording of the transaction is, at first, more or less a form filling exercise with a twist i.e.

By completing the relevant templates they will learn the Double Entry Rule of recording the Receiving Aspect on the Left Hand side and the Giving Aspect on the Right Hand side.

The Left and Right hand sides will later on become the Debit and Credit sides respectively.

They will also learn that Accounts with different amounts on each side need to be balanced.

The Preparation of Simple Income and Expenditure Accounts and Balance Sheets of Clubs finally completes a good year’s work.

Teaching Aids used:

Play By the Rules!

Rules of the school / games etc--.

There are rules concerning everything we do as this makes it easy for all to get on with each other.

I also display some of the Rules of Bookkeeping and Accounts along side some of my class rules on the walls of my classroom.

If students want to blame someone for having to learn off these rules I refer them to Pacioli who I belief was big into Double Entry Bookkeeping in the Fourteen Nineties.

Double Entry Doors

The Restaurant Kitchen Doors

| |

|Kitchen |

| |

|Entrance | |Exit |

|Left Hand Side | |Right Hand Side |

|Debit door | |Credit door |

If I had two doors into my classroom I would make students use one for entering and one for exiting;

Double Entry -Game On

Soft Ball- give (throw) with the right hand and receive (catch) with the left hand. Students can practise with anyone at home with the use of a ball – giving and receiving a ball while reciting the rule in their head “I give with the Right Hand and I receive with the Left Hand”;

Templates

Templates of Cash Books, Income and Expenditure and Balance Sheets;

The Text Book

Use it at will;

Ruled Paper

Students can be a choice to use special business studies copies or ordinary copies but these must be ruled them in advance of class;

Business Studies Note Book /Copy

To record name and explanations of new terms and words learned, thus builing up their Bookkeeping and Accounts vocabulary.

I start off with students having to account for their spending.

Account For Your Self

Record keeping and accounts is a very special form of communication, requiring rules, to show everyone what is going on.

Students can be asked to account for themselves

e.g. to prepare a Report (account) of the last time they purchased something

e.g. Purchased a Biro for €3.

They must show in their report (account) :

Account Heading –

Biro

When they purchased the item –

27/11/2010

How they pay for item –

Cash

Where more information can be found about what they purchased -

Folio

How much they gave

- €3.

Biro Report (Account) Summary

On 27/11/2010 A Biro was purchased for €3. or A Biro was received and €3 Cash was given.

When they have finished their report they can then be asked to rewrite it in the form of an account like that shown below. This will show both sides of the transaction.

Recording the purchase of a Biro for €3 on 27/11/2010.

Step 1 Identify the accounts involved in a transaction Biro and Cash

Step 2 Debit the Receiver Account Biro Account

Credit the Giver Account Cash Account

IN (Debit) (Credit) OUT

|Date |Details |Folio |Total |Date |Details |Folio |Total |

|2010 | | |€ |2010 | | |€ |

| | | |BIRO Account* | | | |

|27/11 |Cash | CB |3 | | | | |

| | | | | | | | |

| | | |CASH Account** | | | |

| | | | |27/11 |BIRO |CB |3 |

| | | | | | | | |

| | | | | | | | |

* Receiving Account

** Giving Account

+ Factor Their Bookkeeping and Accounts vocabulary starts and is recorded in a notes book.

E.G. Debit, Credit,, Double Entry Rule, Account Heading in centre of page.

The Tale of The Unsteady Table Or The Balancing Act

Discovering How to Balance an Account (the Lego Way)

Quandary! This coffee table is uneven and there is no shop open to buy a replacement.

How can we overcome the problem for now?

Left Right

| |

| | | |

| | | |

| | | |

| | | |

| | | |

| | | | |

| | | | |

Answer! We measure both sides and find out the difference.

We then put something equal to the difference on the smallest side

This makes both sides equal for now.

The left hand side has seven blocks and the right hand side has five blocks.

The difference between the two sides is two blocks.

Left Right

| |

| | | |

| | | |

| | | |

| | | |

| | | |

| | Difference between the two sides is two rows | |

| | | |

In Bookkeeping and Accounts

The Difference is called the Balance

Rule for Balancing An Account:

Find the Difference between the two sides by -

subtracting the total of the small side from the total of the big side

The Difference is called the Balance.

Put this balance on the small side to make it equal to the big side.

Carry down (C/D) this balance to the big side

This Balance brought down (B/D) shows which side is the biggest and by how much.

We can now Apply the above solution to an Account where one side is bigger than the other.

|Date |Details |Total |Date |Details |Total |

|2010 | |€ |2010 | |€ |

| | |Cash A/C | | |

|27/11 |Sales |1,000 |26/11 |Purchases |400 |

| | | | | | |

| | | | | | |

The Left hand side is bigger than the right hand side by €600.

Insert €600 on the right hand side to make it the same as the left hand side for now.

|Date |Details |Total |Date |Details |Total |

| | |€ | | |€ |

| | |Cash A/C | | |

|27/11 |Sales |1,000 |26/11 |Purchases | 400 |

| | | |27/11 |Balance C/D | 600 |

This Left hand side is the biggest by €600

Once the balancing has been mastered one can then introduce the Folios.

Students should practise this Balancing Act with different types of accounts to become familiar with the concept.

+ Factor Their Bookkeeping and Accounts vocabulary is expanded and recorded in a notes book.

Balancing, C/D, B/D

Template Examples

|Money Coming In Cash Account of Household Money Going Out |

|Date |Details |Total |Date |Details |Total |

| | |€ | | |€ |

|When money was received|Where Money Came from |Amount of Money |When money was paid out|Where money |Amount of Money |

| | | | |Went to | |

| | | | | | |

| | | | | | |

| | | | |Balance C/D | |

| | | | |Amount of money if | |

| | | | |any left over at the end of a | |

| | | | |period or the difference between | |

| | | | |the two sides | |

| | |Total | | |Total |

| |Balance B/D | | | | |

| |Amount of Money starting off| | | | |

| |new period | | | | |

Money Coming In Analysed Cash Book (Cash) Money Going Out

|Date |Details |Total |Analysis |Date |Details |Total |Analysis |

| | |Cash | | | |Cash | |

| | |€ | | | |€ | |

| | | |Breakdown of money received | | | |Breakdown of money paid out |

| | | | | | | | |

| | | | | | | | |

| | | |Breakdown of money received | | | |Breakdown of money paid out |

| | | | | | | | |

| | | |

|(Details of Income e.g.) | | |

|Membership fees | | |

|Raffle tickets | | |

|Competition Prizes | | |

|Less EXPENDITURE | | |

|(Details of Expenditure e.g.) | | |

|Rent of Mini Bus | | |

|Refreshment | | |

|Light and Heat | | |

|Insurance | | |

|SURPLUS ( if Income > Expenditure) | | |

|DEFICIT (if Income < Expenditure) | | |

What Does the Club Own? Assets!

What Does The Club Owe? Liabilities!

How Much Capital Did It Employ Financed By!

See for yourself in the Balance Sheet Template.

Balance Sheet of the BSTAI SCOUTS CLUB as on 27/11/2010

|FIXED ASEETS | | | |

|Den, | | | |

|Equipment | | | |

|Minibus | | | |

|CURRENT ASSETS | | | |

|Stock of minerals | | | |

|Cash | | | |

|Less CURRENT LIABILITIES | | | |

|(less than one year) | | | |

|Bank Overdraft | | | |

|WORKING CAPITAL ) CA Less CL | | | |

|TOTAL NET ASSETS | | | |

|FINANCED BY | | | |

|( where club obtained the money from) | | | |

|Accumulated Fund | | | |

|(clubs capital) | | | |

|plus Surplus | | | |

|Plus LONG TERM LIABILITIES | | | |

|(more than one year) | | | |

|10 year Loan | | | |

|CAPITAL EMPLOYED | | | |

|(the money the club has working for it) | | | |

Check to See if the TOTAL NET ASSETS = CAPITAL EMPLOYED

Note : + Factor Their Bookkeeping and Accounts vocabulary is further expanded and recorded in a

notes book : Surplus (profit); Deficit (loss); Fixed Assets; Current Assets; Current Liabilities;

Working Capital; Total Net Assets; Financed By; Accumulated Fund; Long Term Liabilities;

Capital Employed.

An Approach to Teaching Bookkeeping and Accounts in Second Year

The rules of Double Entry, learned when entering records in the Analysed Household Cash Books, are reviewed with the help of the Double Entry Ball game as a reward for knowing the rules.

As this stage I expect students to be able to use their knowledge of Household Analysed Cash Books and apply it to Analysed Cash Books of Businesses as the only change they have to deal with is in the headings.

This also gives me the opening to introduce the General Ledger to post the relevant entries from the Analysed Cash Book to the General Ledger.

The one account per item rule is introduced e.g. One account for VAT no matter how many entries are made.

VAT is the Account containing the most entries of all ledger accounts;

The Folio is also introduced by referring to the General Ledger (GL) in The Analysed Cash Book

and referring to the Analysed Cash Book (ACB) in the General Ledger;

A General Ledger Template is now used.

|Date |Details |F |Total |Date |Details |F |Total |

|GENERAL LEDGER of BSTAI Ltd |

| | | A/C | | | |

| | | | | | | | |

| | | | | | | | |

| | | A/C | | | |

| | | | | | | | |

| | | | | | | | |

| | | | | | | | |

The bookkeeping and accounts is checked out in the Trial Balance or as my students now like to call it

The Trial of the Balances (the trial of the debits and the credits).

The Trial Balance Rule is introduced namely:

Debit in the Ledger; Debit in the Trial Balance;

Credit in the Ledger and Credit in the Trial Balance.

Again the Trial Balance Template is very useful here.

TRIAL BALANCE of BSTAI Ltd as on 27/11/2010

|Date |Details |DR |CR |

| | |€ |€ |

| | |Debit Balances from the ledger and |Credit Balances from the Ledger and |

| | |the Cash Book balance if appropriate |the Cash Book Balance |

| | | |if appropriate |

| | |DR= CR |

When preparing a Books of First Entry, Ledger and Trial Balance Question

What entry is often left out in the Trial Balance?

Answer Bank!

So try this paraphrase of Christy Moore’s Song

“Don’t Forget the Bank

When You Extract a Trial Balance”

Speaking of Trial Balances Try This! (Thanks to C G a former student of mine)

Understanding the Trial Balance the one eyed Eagl way

[pic]

[pic]

TRIAL BALANCE AS ON

| |DR |CR |

| |Expenses | |

| |Assets | |

| | |Gains |

| | |Liabilities |

| | | |

Note : + Factor Their Bookkeeping and Accounts vocabulary is further expanded and recorded in a

notes book: General Ledger; Folio; One Account per item Rule; Trial Balance,

Rules for Entering accounts in the Trial Balance

Credit Transactions

I move quickly through the relevant business documents – Letter of Enquiry, Quotation, Orders (as these are covered already in First Year in the Consumer Sections) onto the Delivery Dockets and the two main credit transaction documents relevant to Bookkeeping and Accounts namely the Invoice and Credit Note.

Following the completion of the Invoice and Credit Note the students are able to select the main data to be recorded in the Purchases and Sales Books and the Purchases Returns and Sales Returns Books using the templates provided.

Main Data to be extracted:

Name of Customer or Seller;

Invoice or Credit Note Number,

Date on Document

The Last Three Figures in each document- Net Amount, VAT Amount and Total Amount.

Note : + Factor Their Bookkeeping and Accounts vocabulary is further expanded and recorded in a

notes book : Invoice; Credit Note; Purchases Book, Purchases Returns Book; Sales Book;

Sales Returns Book.

Books of First Entry Book Templates

Note: The Folios and Columns are coloured coded to show where each figure goes in the different ledgers

Red for Creditors Ledger, Purple for Debtors Ledger and Blue for general Ledger

(LAYOUT) PURCHASES BOOK of BSTAI Ltd

|Date |Details |Invoice No. |F |NET |VAT |TOTAL |

| | | | |€ |€ |€ |

| | | |CL | | | |

| | | |DL | | | |

| | | |CL | | | |

| | | |DL | | | | |

|GENERAL LEDGER of BSTAI Ltd |

| | |Purchases A/C | | | |

| |Total Net Creditors |PB | | | | | |

| | | | | | | | |

| | Purchases Returns A/C | | | |

| | | | | |Total Net Creditors |PRB | |

| | | | | | | | |

| | | Sales A/C | | | |

| | | | | |Total Net Debtors |SB | |

| | | | | | | | |

| | Sales Returns A/C | | | |

| |Total Net Debtors |SRB | | | | | |

| | | | | | | | |

|Date |Details |F |Total |Date |Details |F |Total |

|CREDITORS LEDGER of BSTAI Ltd |

| | | Cork A/C | | | |

| |Purchases returns |PRB | | |Purchases |PB | |

| | | | | | | | |

| | | Kerry A/C | | | |

| |Purchases returns |PRB | | |Purchases |PB | |

| | | | | | | | |

|DEBTORS LEDGER of BSTAI Ltd |

| | | Galway A/C | | | |

| |Sales returns |SRB | | |Sales |SB | |

| | | | | | | | |

| | | Mayo A/C | | | |

| |Sales returns |SRB | | |Sales |SB | |

| | | | | | | | |

On What Side of the VAT Account are entries Made?

VAT is like a shoe - it follows the foot i.e. the left shoe goes on the left foot and right shoe goes on the right foot.

In bookkeeping and accounts the shoe is the VAT and the foot is either : Purchases, Purchases, Sales or Sales Returns Account.

If the student knows the side to enter the Sales Account then the VAT on Sales is entered on the same side in the VAT Account and so on.

|Date |Details |F |Total |Date |Details |F |Total |

|GENERAL LEDGER of BSTAI Ltd |

| | | Sales A/C | | | |

| | | | | |Total Net Debtors* |SB | |

| | | | | | | | |

| | | VAT A/C | | | |

| |Credit Purchases** |PB | | |Credit Sales* |SB | |

| | | | | | | | |

| | | Purchases A/C | | | |

| |Total Net Creditors** |PB | | | | | |

| | | | | | | | |

Other Useful Tips:

Never Put the Companies Name into the ledger accounts as the company is represented by accounts such as Purchases, Sales, Purchases, Sales Returns, VAT, Wages, Insurance etc

The company name can be inserted in the Name of the Ledger see above e.g.

General Ledger of BSTAI Ltd; Debtors Ledger of BSTAI Ltd, Creditors Ledger of BSTAI Ltd.

Only Balance Accounts that have entries on both sides

Balance all the accounts that have entries on both sides to show which side is the biggest and by how much

General Journal and Trial Balance Entry Rule

Debit in the Ledger: Debit in the General Journal and Trial Balance;

Credit in the Ledger: Credit in the General Journal and Trial Balance.

Note : + Factor Their Bookkeeping and Accounts vocabulary is further expanded and recorded in a

notes book : Recording VAT; One Account per Item; Post items; General Journal

Ten Recommendations for Improving Results in Bookkeeping and Accounts

1. Be prepared to answer Bookkeeping and Account Questions

2. Read the question – especially the number of parts to the question e.g. Final Accounts and

Balance Sheet Question has two Parts namely (A) 35 marks (B) 5 marks

3. Understand the Outcome Verbs used :

Record / Enter/ Write Up

Put original data from documents into a Book of First Entry

Post

Take data from the Book of First Entry and put it in the Ledger

Balance

Show on one line which side of an account is the biggest

Extract

Prepare a Trial Balance from Ledger and Analysed Cash Book Balances

Prepare

Set out the Final Accounts and Balance Sheet from data supplied in the Trial Balance

Calculate

Work out answers, using a formula, from given data

4. Pickup the marks for Layout and presentation e.g.

Date – Day Month and Year

Folio – In the Books of First Entry refer to the appropriate Ledger,

In the Ledger refer back to the Book of First Entry

In Final Accounts and Balance Sheet Headings insert Name of Business and ‘for year ending ‘ and ‘as on’ in the Trading Profit and Loss Appropriation Account and Balance Sheet respectively

5. Do the time Do not leave the examination before the finishing time because

6. History Lesson Use past Papers to revise for examination – practise makes perfection

7. Every 4 marks is 1% so Practise the Short Questions in Bookkeeping and Accounts

8. Use the Bookkeeping and Accounts stationery as there are no marks for drawing lines.

9. Revise in themes e.g.

Analysed Cash Books of Households/ Clubs, Businesses/ Farms and Service Firms

Trading Account for Businesses and Clubs

Balance Sheet for Clubs/ Businesses/ Service Firms and Farms

General Journal ? Accumulated Fund Statement for calculating Opening Share Capital of a Company and Accumulated Fund of a Club

10. Use the examination paper as an examination aid:

E.G. In 2009 Paper 2 Examination You can get some help with Q 1 Books of First Entry, Ledger and Trial Balance parts by referring to insert document for Q.2 and Q 4 Trial Balance.

Likewise in Q6 (Ciii) you can refer to the Trial Balance in Q 4.

Conclusion

I started out by stating my concern that Bookkeeping and Accounting questions in the examination papers are often either not attempted or poorly attempted.

The Bookkeeping and Accounting content of the Syllabus was set out and some suggestions were offered as to how some of this content might be taught and how results could be improved.

I hope my presentation will of some help and encourage you to be creative and positive about Bookkeeping and Accounting.

I urge you, as Business Studies Teachers, to Market the Bookkeeping and Accounting as strongly as you can.

I would like to wish you and your students the very best in the 2011 Business Studies Examination.

Matt Hynes

27 October 2010

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