What are Cheques used for, and where are they recorded?

What are Receipts, and where are they recorded?

What is bank interest paid?

What is Bank interest received?

What is Direct Debit?

Is the amount withdrawn from an account by direct debit fixed or variable?

What is a Standing order?

Is the amount withdrawn from an account by Standing Order fixed or variable?

How often is the amount withdrawn from an account by Standing Order withdrawn?

What is a Bank Transfer?

What is an Unpaid Cheque?

What are Bank charges, and what are they for?

What are Assets?

What are Current Assets, and what are they used for?

What are Non-current assets, give an example?

What are Trade Payables?

What are Trade Receivables?

What are Liabilities?

What are current Liabilities?

What are Non-current Liabilities?

What is the General Ledger?

Does double entry take place within the General Ledger?

What is the purpose Trial Balance?

What does the Trading Account do?

What does the Profit and Loss Account do?

What does the Balance Sheet do?

Why would the Owner of a business be interest in the Financial statements?

Why would the Manager of a business be interest in the Financial statements

Why would the Suppliers of a business be interest in the Financial statements?

Why would the Customers of a business be interest in the Financial statements?

Why would 'Providers of Finance' of a business be interest in the Financial statements?

Why would the Employees of a business be interest in the Financial statements?

Why would the Government be interest in the Financial statements of the business?

Why would Competitors of a business be interest in the Financial statements?

Why would the 'Local Community of a business be interest in the Financial statements?

What is a prepayment?

How is a prepayment recorded?

What are Accruals?

How is Accruals recorded?

What is Depreciation?

What is the Importance of Source Documents?

What is the Importance of keeping a Subsidiary Book?

What is the Purpose of Control Accounts?

What are the Dis-advantages of Control Accounts?

What are the types of errors which can be identified by using a control account?

What are the advantages of Control accounts/Trial Balance?