O’/N’ Level Principles of Accounts

POA Topics for GCE Examinations

[Video] Difference Between Bookkeeping And Accounting

Difference between Bookkeeping and Accounting.mp4     Accounting Bookkeeping Accounting is the process of recording, summarising, reporting, analysing and interpretation of financial information. Book-keeping is part of the accounting process. It involves the process of recording accounting data according to set rules.  Role of accounting is to communicate financial information for decision-making purposes.  Role of …

[Video] Difference Between Bookkeeping And Accounting Read More »

INTERNATIONAL STANDARDS – ACCOUNTING TERMINOLOGY

The terminology for accounting varies across different levels of study. Those of you who have moved on to study accounting at tertiary level would agree – terms like debtors and creditors have a different meaning in ICCI, CAT, ACCA and other accounting diploma/degree programs. The term Debtors used for O’/N’ Level, for example, becomes Accounts …

INTERNATIONAL STANDARDS – ACCOUNTING TERMINOLOGY Read More »

Source Document – the Returned Cheque Advice

Image courtesy of The Association of Banks in Singapore Reasons for Dishonoured Cheques Whenever a cheque given to a business bounces, the bank will send notice to the business that the customer/ debtor’s cheque was dishonoured. The cheque may not have been cleared for one or more of the following reasons: 1. There is insufficient …

Source Document – the Returned Cheque Advice Read More »

5 Reasons Why Principles of Accounts

You just finished your final year examinations and are considering your options. The familiar arts (history, literature or geography) and science  (biology, physics and chemistry) Principles of Accounts (POA) sounds so foreign and you’ have heard from friends that it is boring. But there’s more to debits and credits in POA.   “’Double-entry bookkeeping’ is …

5 Reasons Why Principles of Accounts Read More »

What is the difference between Net Book Value (NBV) and Net Realisable Value (NRV)?

The Net Book Value (NBV), also known as depreciated cost, is equal to its original cost (its book value) less amortisation (not in O’/N’ level syllabus) and depreciation. On the other hand, the Net Realisable Value (NRV) refers to the selling price of an asset minus the expenses incurred in the sales transaction, and in …

What is the difference between Net Book Value (NBV) and Net Realisable Value (NRV)? Read More »

Scroll to Top