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# Topic: Accounting Equation

# Topic: Accounting Equation

The chapter regarding the effect of transactions on the accounting equation, is very important because it forms the basis of all future transactions. The insight of accounts debited and credited and the effect on the elements of accounting equation, will ensure that any transactions can be logically considered.

Attention will be given in the following 53 examples in the handbook to explain transactions and calculations:

- Explanation of assets, liabilities, equity, income and expenses;
- Accounts debited and credited;
- Effect of transactions on the accounting equation;
- Source documents used for different transactions;
- Subsidiary journals used for the different transactions;
- Perpetual and periodic inventory systems;
- Calculations for cost of sales, profit, settlement discount, bad debts, trade discount and cash discount;
- Accounting cycle;
- VAT transactions and calculations.

Research proved that marks of learners improved between 20% to 25% when using multiple choice questions.

Insight and concepts improved.

- 52 Multiple choice questions to test insight of transactions and concepts to test calculations.
- After completion of the test, correct answers are provided with reasons why it is the correct answer.
- After completion of the test, correct answers are provided with an explanation of the calculations done.

10 Examples and 5 questions of all possible transactions and calculations;

- Memorandum with calculations;
- Answer book to complete questions.

- Tests to explain the concepts of accounting equations.
- Memorandum for each test;

Learners can ask questions on the forum. Answers will be supplied weekly.

Video recordings will explain, visionally and audibly, each transaction and

calculation. Video recordings can be viewed several times. 21 video recordings

are available to ensure that all transactions are clear.

Weakly video recordings with extra classes to explain the following:

- Transactions and calculations;
- Explanation of tests;
- Explanation of difficult concepts;
- Extra classes to explain problem areas.

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