Singapore · SEABQ&A
AccountingQ&A by dot point
A short Q&A bank for every Singapore Accounting syllabus dot point. Each question and answer is drawn directly from our worked dot-point page, so you can scan key concepts before opening the long-form answer.
Adjustments and the Matching Principle
- Account for accruals and prepayments of expenses and income, and show them in the financial statements6Q&A pairs
- Calculate depreciation using the straight-line and reducing-balance methods and show it in the accounts3Q&A pairs
- Account for irrecoverable debts and an allowance for doubtful debts at the year end5Q&A pairs
- Explain the matching principle and the accrual basis, and why year-end adjustments are needed5Q&A pairs
Books of Prime Entry and Ledgers
- Post from the books of prime entry to the sales, purchases and general ledgers4Q&A pairs
- Identify common source documents and state which book of prime entry each one is recorded in4Q&A pairs
- Write up a two-column cash book recording cash and bank receipts and payments, with discount columns4Q&A pairs
- Write up the sales, purchases and returns journals and the general journal, and total them4Q&A pairs
Financial Analysis and Ratios
Financial Statements
- Distinguish capital expenditure from revenue expenditure and explain the effect of getting it wrong5Q&A pairs
- Prepare the financial statements of a sole trader from a trial balance with year-end adjustments4Q&A pairs
- Prepare the income statement of a sole trader, showing gross profit and profit for the year6Q&A pairs
- Prepare the statement of financial position of a sole trader and show the capital section6Q&A pairs
Inventory and Bank Reconciliation
The Accounting Environment and Equation
- Classify items as assets, liabilities or owner's equity, and split assets and liabilities into current and non-current4Q&A pairs
- Describe the sole trader and distinguish it from a partnership and a company3Q&A pairs
- Explain the purpose of accounting and identify the main users of accounting information3Q&A pairs
- State and apply the accounting equation: assets equal liabilities plus owner's equity3Q&A pairs
The Double-Entry System
- Balance off ledger accounts and bring down the balance, identifying it as a debit or credit balance3Q&A pairs
- State and apply the rules of debit and credit for each of the five elements3Q&A pairs
- Record transactions in T-accounts, showing the date, the other account and the amount on each side5Q&A pairs
- Classify accounts into the five elements: assets, liabilities, owner's equity, income and expenses4Q&A pairs