Financial Accounting Practice Questions & Solutions


This course is primarily designed to provide basic foundation knowledge of Financial Accounting. It evolved as a result of the difficulty being encountered by students in the field of Accountancy, Business, Finance, Secretarial, Insurance, and other allied areas of Professional endeavor.

This course is expected to serve as a companion to users in different fields where foundation knowledge in Financial Accounting principles and practices are required.

Topics for this course

9 Lessons1h 34m 42s

Double Entry Principle

Understanding Debit and Credit Entry Principles9:53

Cash Book Accounting?

The cash book is a subsidiary book of first entry for all cash transactions. It is also a ledger book because it has a balance at the end of the period like all other ledger accounts. There are 3 types of cash book; 1. The Single column cash book 2. The double or two columns Cashbook 3. The Three columns Cashbook.

Analytical Petty Cash Book?

In this lesson, we'll look into the following; 1. Petty Cash Book Operation 2. Imprest System and the Petty Cash Book 3. Recording into Analysis Petty Cash Book.

Bank Reconciliation Statement (BRS)?

A bank reconciliation statement is a statement drawn up to verify the cash book balance of an organization with the bank statement sent by its bank.

Ledger Account & Trial Balance?

You are going to learn the definition of the term “Trial Balance”, the rules for identification of balances, characteristics of items that can be combined, how to balance off the ledger account and the extraction of a trial balance.

Joint Venture Accounting

Trading Profit and Loss Account Format

About the instructor

An Entrepreneur and a graduate in Business Administration and Management. He is the Founder of HS Tutorial, A Digital Marketer and Content Creator. Check him out on Instagram.
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2 Courses

298 students

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