Cameroon GCE O-Level Accounting study plan

Define accounting in your own words and list at least six user groups of accounting information, stating one decision each group makes

Classify ten given items as capital or revenue expenditure and justify each classification using the accruals and going-concern concepts

Apply the accounting equation to twelve transactions, showing the effect of each on assets, liabilities and capital in a table

Post twenty transactions from journal entries to the appropriate ledger accounts and balance off every account at month end

Extract a trial balance from your balanced ledger and identify any imbalance before checking it

Identify and describe the purpose of eight source documents, matching each to the book of original entry it supports

Record fifteen credit transactions across the sales day book, purchases day book, returns books and general journal, then post totals to the ledgers

Maintain a three-column cash book for one month, including discount allowed and discount received, and reconcile its closing balance to the ledger

Operate a petty cash book on the imprest system for one month, recording reimbursements to restore the float

Distinguish between trade discount and cash discount in written workings for four sample invoices

Correct eight deliberately erroneous entries using journal entries, stating the type of error in each case

Prepare a suspense account, post the correcting entries and show its clearance to nil

Prepare sales ledger and purchases ledger control accounts from a list of opening balances and summary transactions, and reconcile control balances to the list of individual balances

Explain why control accounts help detect errors and fraud in the receivables ledger

Draft a bank reconciliation statement from a cash book and bank statement, adjusting for unpresented cheques, uncredited deposits, standing orders and bank charges

Prepare a trading, profit and loss account and balance sheet for a sole trader from a trial balance with at least five adjustments

Adjust for accruals and prepayments by journal entry and show their placement in the final accounts

Compute depreciation using straight-line and reducing-balance methods and record the charge and accumulated depreciation

Write off bad debts, create and adjust a provision for doubtful debts, and show both in the profit and loss account

Explain in writing how each adjustment affects net profit and the balance sheet

Record the acquisition of a non-current asset including all capitalised costs, and compute depreciation for the first three years under both methods

Prepare the disposal account for an asset sold at a profit and at a loss, showing the transfer to the income statement

Maintain a simple asset register with cost, accumulated depreciation and net book value columns

Prepare a manufacturing account showing prime cost, factory overhead and work in progress adjustment, and transfer the production cost to the trading account

Classify ten costs as direct, indirect, fixed or variable, and compute unit cost for a simple job

Prepare a partnership appropriation account showing interest on capital, salary, interest on drawings and profit sharing

Open and balance partners' capital and current accounts after a full year of appropriations

Journalise the admission of a new partner, including goodwill and revaluation adjustments at a basic level

Distinguish between shares and debentures and record the issue of each in the ledger

Prepare a simple company appropriation account showing taxation, transfers to reserves and dividends

Convert a set of single-entry records into double entry and prepare a statement of affairs to find opening capital

Compute and interpret gross profit margin, net profit margin, return on capital employed, current ratio, quick ratio and stock turnover

Write a short commentary on the liquidity and profitability of a business from its computed ratios

Describe five internal controls over cash and stock and explain the weakness each control addresses

List the advantages and risks of a computerised accounting system compared with manual records

Sit two full-length timed mock papers under exam conditions and mark them against the marking scheme

Re-work every question lost in the mocks until each is fully correct without notes

Revise the definitions of accounting concepts, control account formats and depreciation formulas from your own summary sheet

Practise presenting final accounts neatly with clear workings, since marks are awarded for format