BGCSE Accounting 0614 study materials
BGCSE Accounting 0614 study resources

BGCSE Accounting 0614 study plan

BGCSE Accounting 0614 · Give each week a clear focus.

8 weeks · About 6 hours per week

Week 1

Ledger accounts and double-entry bookkeeping & Source documents and books of original entry

  • Apply the double-entry rule to record 20 transactions across asset, liability, capital, income and expense accounts without error

  • Distinguish between the two accounts affected in each transaction and state which is debited and which is credited

  • Identify the source document that triggers each of eight common transactions (invoice, credit note, receipt, cheque counterfoil, petty cash voucher, debit note, bank statement, paying-in slip)

  • Post ten transactions from journal entries into correctly balanced T-accounts

Your checkpoint

A handwritten ledger containing 10 balanced T-accounts with a one-line narration for each posting

Week 2

Source documents and books of original entry & Ledger accounts and double-entry bookkeeping

  • Classify transactions into the correct book of original entry: sales day book, purchases day book, returns books, cash book and general journal

  • Total and cross-cast each day book and transfer the totals to the nominal ledger

  • Explain the purpose of the general journal for non-regular transactions such as opening entries and corrections

  • Reconcile the sales day book total to the individual customer accounts in the sales ledger

Your checkpoint

A complete set of day books for one simulated trading month, with all totals posted and a sales ledger control account agreeing to the list of balances

Week 3

Accounting for cash and bank transactions, including petty cash & The trial balance and correction of errors

  • Prepare a two-column and three-column cash book, including discount allowed and discount received

  • Operate an imprest petty cash system, record vouchers, and restore the float

  • Reconcile a bank statement to a cash book and explain timing differences such as unpresented cheques and lodgements not yet credited

  • Extract a trial balance from a set of ledger balances and identify which side each balance belongs on

Your checkpoint

A reconciled bank reconciliation statement and a balanced petty cash book for one month, plus a trial balance that balances to zero difference

Week 4

Final accounts of sole traders & The accounting environment and accounting concepts

  • Prepare a trading account and profit and loss account for a sole trader from a trial balance

  • Compute gross profit, net profit, cost of goods sold and the rate of turnover of stock

  • Distinguish capital expenditure from revenue expenditure and explain why the distinction affects profit

  • State and apply the accruals, going concern, consistency and business entity concepts to given scenarios

Your checkpoint

A full trading and profit and loss account for a sole trader with a written note of at least 120 words explaining which concepts were applied and where

Week 5

Final accounts of sole traders & Adjustments to final accounts

  • Prepare a statement of financial position (balance sheet) in vertical format from a trial balance with adjustments

  • Adjust for closing stock, accruals, prepayments, bad debts and provision for doubtful debts

  • Draw up a provision for doubtful debts account showing the movement for the year

  • Reconcile net profit before and after adjustments and explain each adjustment's effect on profit

Your checkpoint

A complete set of final accounts including all five adjustments, with a reconciliation table showing the effect of each adjustment on net profit

Week 6

Accounting for non-current assets and depreciation & Adjustments to final accounts

  • Distinguish between capital and revenue expenditure when deciding whether to capitalise a cost

  • Calculate depreciation using the straight-line and reducing-balance methods over three years

  • Prepare the non-current asset account, accumulated depreciation account and disposal account for an asset sold at a gain and at a loss

  • Post the depreciation charge to the profit and loss account and show the net book value in the statement of financial position

Your checkpoint

A depreciation schedule for three assets over three years, with disposal accounts for one gain and one loss and the resulting statement of financial position extract

Week 7

The trial balance and correction of errors & The accounting environment and accounting concepts

  • Identify and correct errors of principle, omission, commission, original entry, reversal and compensating errors using journal entries

  • Explain why an error of principle does not affect the trial balance agreement but does affect profit

  • Prepare a suspense account and clear it after locating errors

  • State the qualitative characteristics of accounting information and apply them to given reporting choices

Your checkpoint

A corrections journal covering eight errors, a suspense account cleared to nil, and a one-page note on why the trial balance still balanced before correction

Week 8

Interpretation and analysis of accounting information & Final accounts of sole traders

  • Compute and interpret gross profit margin, net profit margin, return on capital employed, current ratio and liquid (acid-test) ratio

  • Compare two years of figures and comment on profitability, liquidity and efficiency

  • Evaluate the limitations of ratio analysis when comparing firms of different sizes or industries

  • Complete two full past-paper style questions under timed conditions and self-mark against the mark scheme

Your checkpoint

A written ratio analysis of at least 150 words comparing two years of results, plus two timed practice papers scored and reviewed

Milestones

Week 2: Score at least 80% on a self-made 20-question test on source documents, books of original entry and double-entry postings

Week 4: Produce a trading and profit and loss account from an unseen trial balance with no more than two arithmetic errors and correct gross and net profit figures

Week 5: Complete a full set of final accounts with all adjustments within 45 minutes, correctly handling accruals, prepayments and doubtful debts

Week 7: Correct eight mixed errors and clear a suspense account to nil without referring to notes

Week 8: Achieve at least 65% on two timed full-length practice papers, with the ratio analysis section scoring above 70%