O Level Accounting 7707 lectures
18 short lectures, one for each part of the syllabus, in the order it is taught. Each one teaches a topic on the board in a few minutes. The teaching part is free to watch; a free account opens the rest of every lecture: worked examples, practice questions and real past-paper questions answered.
Chapter 1 Sources and recording of data
- Double entry, ledger accounts and the divisions of the ledgerWhen a business buys a machine for cash, two things change: it has a machine, and it has less cash.4 min
- Source documents, books of prime entry and discountsEvery entry in the accounts starts with a piece of paper or a digital record: an invoice, a receipt, a credit note.4 min
- The cash book and the petty cash bookA business receives and pays money every day, in cash and through the bank.4 min
Chapter 2 Verification of accounting records
- Errors, the suspense account and the effect on profitEven careful bookkeepers make mistakes.4 min
- Bank reconciliation statementsThe business's cash book says it has one balance in the bank; the bank statement says another.4 min
- Sales and purchases ledger control accountsA business with hundreds of credit customers cannot easily check every account.4 min
Chapter 3 Accounting procedures
- Capital and revenue items, and valuing inventoryA business buys a delivery van, and then buys fuel for it.4 min
- Depreciation: methods, accounts and disposalA van bought for 20,000 dollars will not be worth that in five years.4 min
- Accruals and prepayments of expenses and incomeA business's year ends on 31 December, but it pays its electricity bill in January for December's use.4 min
- Irrecoverable debts, recovered debts and the allowance for irrecoverable debtsA business sells on credit, and some customers never pay.4 min
Chapter 4 Preparation of financial statements: sole traders
Chapter 5 Partnerships
Chapter 6 Limited companies
Chapter 7 Other financial statements
- Manufacturing accountsA trader buys goods and resells them.4 min
- Clubs: receipts and payments, subscriptions and income and expenditureA cricket club or a social society does not aim to make a profit.4 min
- Incomplete records: statements of affairs, mark-up and marginMany small traders do not keep full double-entry records.4 min
Chapter 8 Analysis and interpretation
Chapter 9 Accounting principles
Also for O Level Accounting 7707
Which topics come up most in O Level Accounting 7707 past papers, counted from every paper since 2004: O Level 7707 topic frequency, IGCSE 0452 topic frequency.
The topical past-paper books: O Level 7707, IGCSE 0452.