Accounting students and business owners will be familiar with the different types of transactions that generate receipts, invoices, credit notes, bills, vouchers and emails. These documents prove business activities have taken place and they fall under 4 types of transactions: 4 Types of transactions 1. Cash transactions These are divided into …

You can understand Trial Balance meaning with these 9 FREE posters. Writing up a Trial Balance is very simple, but there are many things to know about it other than being a list of accounts with figures. Here are 6 important things that help you to learn Trial Balance meaning: …

Students can learn Control Accounts formats for Accounts receivable and Accounts payable in basic accounting with these 5 posters. These two accounts tend to have numerous transactions in each. The details are found in their corresponding subsidiary ledgers. A Control Account is a general ledger account containing only summary amounts. The details …

Learn two depreciation methods easily with these FREE posters. Depreciation is an expense that goes to the Income Statement and reduces assets in the Balance Sheet. In a question, you will be instructed to use one of the two depreciation methods to calculate the value of depreciation to record as …

Knowing the Balance Sheet format helps you to concentrate on more difficult questions in accounting than to waste time trying to remember where to place assets, liabilities and capital. Practise the Balance Sheet format regularly and all the items will fall into place when doing questions. Whether the question presents …