Principles of Accounting CICT

Description

Principles of Accounting

Principles of Accounting CICT Section 2 is a KASNEB course.

Download free Principles of Accounting CICT  PDF notes and past papers today. Get CICT PDF notes and past papers for the new KASNEB syllabus 2021.

KASNEB CICT Section 2 Principles of Accounting New Syllabus 2021 covers the following topics:

• Introduction to Accounting
• Accounting procedures and techniques
• Computerized accounting
• Preparation of financial statements and year-end adjustments- Depreciation of non-current assets including their disposal, Methods and reasons of providing for depreciation, Preparation of movement of property, plant equipment (as per International Financial Reporting Standards), Trade receivables, bad debts write-offs and provision for bad and doubtful debts – Accruals, prepayments, reserves and provisions – Necessary adjustments in statements of financial performance to record increase and decrease in provision for bad and doubtful debts
• Confirming and correcting mechanism – Bank reconciliation statements – Control accounts
• Errors and correction of errors – Errors affecting and not affecting the agreement of the trial balance – Use of the suspense accounts – The effect of errors on statement of financial performance and statement of financial position
• Sole traders accounts – Income statements – Statements of financial position
• Partnership accounts – Basic contents of a partnership agreement – Provisions of the Partnership Act – Partnership statement of financial performance and appropriation account – Partners current account and statement of financial position
• Introduction to simple company accounts – Share capital and reserve – Issue of shares at par; premium; discount – Over and under subscriptions – Allotment and calls on shares, forfeiture of shares – Preparation of statements of financial performance and appropriation account and the statement of financial position – Published accounts: Components of a complete set of published financial statements only
• Manufacturing accounts – Elements of cost and cost behavior – Preparation of manufacturing accounts, statement of financial performance and statement of financial position – Accounting treatment of manufacturing profit or loss and unrealized profit on closing stock
• Financial statements of a not-for-profit organization
• Incomplete records and single entry book keeping
• Analysis of financial statements Introduction to accounting ratios – Profitability ratios – Revenue ratios – Liquidity ratios
• Preparation of cash flow statements (International Accounting Standard 7)
• Public sector accounting
• Emerging issues and trends

We encourage the KASNEB students to prepare for CICT Section 2 exams adequately and have a proper grasp of the units.

Students taking other courses like Certified Secretaries (CS), Certified Credit Professional (CCP), Certified Investment and Financial Analyst (CIFA), among other KASNEB certified courses will find these resources helpful.

Many students and colleges have benefited from the resources offered by the Pass Exams Team.

Other courses in KASNEB CICT Section 2 include:

• Computer Support and Maintenance
• Operating Sytems-Practical

After completion of KASNEB CICT Section 2, the student advances to KASNEB CICT Section 3 which has the following units:

• Database systems
• Systems Analysis and Design
• Structured Programming

Free KASNEB CICT Section 2 PDF notes and past papers are available. Download free KASNEB CICT Section 3 PDF notes and past papers now.