Financial accounting notes pdf

Financial accounting notes outline and the notes in pdf highlighted here. Financial accounting unit is examinable by Kenya national examination council KNEC and is mainly taught in various courses highlighted below;

  • Certificate in supply chain management
  • Certificate in business management
  • Diploma in supplies management
  • Diploma in business management
  • Diploma in maritime transport management
  • Diploma in co-operative management
  • Diploma in project management
  • Diploma in road transport management

FINANCIAL ACCOUNTING UNIT: Financial accounting is the field of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. It includes the standards, conventions and rules that accountants follow in recording and summarizing and in the preparation of financial statements.

FINANCIAL ACCOUNTING TOPICS COVERED

  1. Introduction to accounting
  2. Accounting concepts conventions and bases
  3. Source documents
  4. Cost accounting
  5. Costing techniques
  6. Management accounting
  7. Ratio analysis
  8. Budgeting analysis

Introduction to accounting

This topic trainees will learn;

  • Definition of Accounting
  • Objectives & Scope
  • Accounting Process
  • Accounting Concepts
  • Accounting Conventions
  • Classification of Accounts
  • System of Accounting
  • Rules of Double Entry Accounting System

Accounting concepts conventions and bases

This topic trainees will learn; The most important concepts of accounting and are as follows:

  • Business Entity Concept
  • Money Measurement Concept
  • Going Concern Concept
  • Cost Concept
  • Dual Aspects Concept
  • Accounting Period Concept
  • Matching Concept
  • Accrual Concept
  • Objective Evidence Concept

Source documents

This topic trainees will learn;

  • Cash Book
  • Triple Column Cash Book
  • Petty Cash Book
  • Purchase Book
  • Sale Book, Purchase Return Book
  • Sale Return Book
  • Bills Receivables Book
  • Bills Payable Book
  • Key Features of Subsidiary Books
  • Bank Reconciliation
  • Trial Balance
  • Financial Statements
  • Owner’s Equity
  • Current Assets
  • Current Liabilities
  • Depreciation

Cost accounting

This topic trainees will learn;

  • Definition of Cost Accounting
  • Concepts of Cost
  • Advantages of Cost Accounting
  • Cost Accounting versus Financial Accounting
  • Classification of Cost
  • Elements of Cost
  • Cost Control and Cost Reduction
  • Tools and Techniques of Cost Reduction

Costing techniques

This topic trainees will learn;

  • Marginal Costing
  • Standard Costing
  • Variance Analysis
  • Cost-Volume-Profit Analysis
  • Break-Even Chart

Management accounting

This topic trainees will learn;

  • Definition
  • Characteristics of Management Accounting
  • Objectives of Management Accounting
  • Management Accounting versus Cost Accounting
  • Cash Flow

Ratio analysis

This topic trainees will learn;

  • Accounting Ratio
  • Accounting Analysis
  • Ratio Analysis and its Applications
  • Advantages of Ratio Analysis
  • Limitations of Ratio Analysis
  • Types of Ratio
  • Chart of Useful Ratio
  • Working Capital

Budgeting analysis

This topic trainees will learn;

  • Definition
  • Budget, Budgeting, and Budgetary Control
  • Types of Budgets
  • Flexible Budget v/s Fixed Budget
  • Flexible Budget
  • Cash Budget..

FINANCIAL ACCOUNTING KNEC PAST PAPERS

FINANCIAL ACCOUNTING NOTES(PDF) For short simplified and comprehensive notes examined by KNEC contact your business department or financial accounting lecturer.

FREE KNEC PAST PAPERS PDF FORMAT:

COURSE NOTES

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