A Level Accounting 9706 (AS Level Accounts) ARD | English

🚀 AS Level Accounting 9706 FREE Course by Sir ARD in English

📘 Course Headline: Unlock Your Potential with our Free A Level Accounting (AS Level Accounts) Course! Dive into the world of finance with expert guidance from Sir Ahmed Raza Dharolia, tailored for students preparing for their AS Level examinations.

Course Description:

🎉 What You Will Learn in this FREE Course 🎉

Accruals and Prepayments:

• Understand the concept of accrued and prepaid expenses 🧾
• Master the use of the Expense Ledger Account for recording these transactions.
• Grasp the concept of accrued and prepaid income.
• Learn how to manage Income Ledger Accounts effectively.
• Analyze real-world examples from past exam papers with Practice Questions.

Other Payables and Receivables:

• Recognize the importance of matching costs and revenues to understand business transactions better.
• Prepare ledger accounts and journal entries for both accrued and prepaid expenses.
• Learn how to handle accrued and prepaid incomes with precision.

Accruals Concept: 📊 As per IAS 1 Presentation of Financial Statements, the accruals concept is pivotal in matching income and expenses to the period they relate, ensuring proper financial reporting.

Sales Revenue:

• Learn to account for sales revenue when the agreement and invoice are issued, not when cash is received.

Purchases:

• Understand how purchases are matched to the period in which they occur by setting up payables.

Cost of Sales:

• Master the calculation of the cost of goods sold, including inventory adjustments for accurate financial accounting.

Expenses:

• Match the expenses of the period with sales for a true picture of operational costs.

📚 Key Course Outline:

1. Understanding Accruals and Prepayments 🔹

   • Accrued and Prepaid Expense Concept
   • Expense Ledger Account
   • Accrued and Prepaid Income Concept
   • Income Ledger Account
   • Practice with Past Exam Papers

2. Other Payables and Receivables 🔹

   • Recognize the matching principle in accounting
   • Prepare ledger accounts for accrued and prepaid expenses/incomes

3. Mastering the Accruals Concept 🔹

   • Learn why accruals are essential for financial accuracy as per IAS 1
   • Understand the sales revenue recognition principles

4. Purchases and Cost of Sales 🔹

   • Match purchases to the period incurred by setting up payables
   • Calculate the true cost of goods sold, including inventory adjustments

5. Managing Expenses 🔹

   • Learn how to account for expenses in the period they are incurred, not necessarily when paid

By enrolling in this course, you will gain a comprehensive understanding of A Level Accounting principles, which is crucial for excelling in your AS Level examinations. Sir ARD's expertise and clear, engaging teaching style make complex concepts accessible and easy to understand.

🎓 Take the first step towards mastering accounting by joining this FREE course today! 🎓