Singapore · SEABSyllabus
Accounting syllabus, dot point by dot point
Every dot point in the Singapore Accountingsyllabus, with a focused answer for each one. Click any dot point for a worked explainer, past exam questions, and links to related dot points. Written by Claude Opus 4.8, Anthropic's latest AI.
Adjustments and the Matching Principle
Module overview →- How do we adjust an expense or income for amounts owing or paid in advance at the year end?Account for accruals and prepayments of expenses and income, and show them in the financial statements9 min answer →
- How do we spread the cost of a long-lasting asset over the years it is used?Calculate depreciation using the straight-line and reducing-balance methods and show it in the accounts10 min answer →
- What do we do when a customer will not pay, and how do we allow for likely future losses?Account for irrecoverable debts and an allowance for doubtful debts at the year end9 min answer →
- Why do we match expenses to the income they help to earn in the same period?Explain the matching principle and the accrual basis, and why year-end adjustments are needed8 min answer →
Books of Prime Entry and Ledgers
Module overview →- Where do the totals and entries from the journals end up, and how are the ledgers divided?Post from the books of prime entry to the sales, purchases and general ledgers8 min answer →
- Which document proves each transaction, and what does it tell us to record?Identify common source documents and state which book of prime entry each one is recorded in8 min answer →
- How does one book record both cash and bank, and where does discount fit in?Write up a two-column cash book recording cash and bank receipts and payments, with discount columns9 min answer →
- How do we list transactions before they reach the ledgers, and why do we bother?Write up the sales, purchases and returns journals and the general journal, and total them9 min answer →
Financial Analysis and Ratios
Module overview →- What does a ratio actually tell us, and what are the limits of using ratios?Interpret ratios by comparison and explain the limitations of ratio analysis9 min answer →
- Can the business pay its short-term debts as they fall due?Calculate and interpret the current ratio and the quick (acid-test) ratio9 min answer →
- How well does a business turn its sales into profit?Calculate and interpret the gross profit margin and the profit margin9 min answer →
Financial Statements
Module overview →- How do we decide whether spending is an asset or an expense?Distinguish capital expenditure from revenue expenditure and explain the effect of getting it wrong8 min answer →
- How do we turn a trial balance and a list of adjustments into the two financial statements?Prepare the financial statements of a sole trader from a trial balance with year-end adjustments10 min answer →
- How do we work out the profit a sole trader made over a year?Prepare the income statement of a sole trader, showing gross profit and profit for the year10 min answer →
- How do we show what a sole trader owns and owes at a single date?Prepare the statement of financial position of a sole trader and show the capital section10 min answer →
Inventory and Bank Reconciliation
Module overview →- At what amount do we value the goods left unsold at the year end?Value closing inventory at the lower of cost and net realisable value8 min answer →
- Why does our cash book balance differ from the bank statement, and how do we reconcile them?Prepare a bank reconciliation statement using unpresented cheques and uncredited deposits9 min answer →
- Which bank statement items must we add to our own cash book before we reconcile?Update the cash book for items appearing on the bank statement but not yet in the cash book8 min answer →
The Accounting Environment and Equation
Module overview →- How do we sort the things a business owns and owes into the right groups?Classify items as assets, liabilities or owner's equity, and split assets and liabilities into current and non-current9 min answer →
- What is a sole trader, and how is it different from other ways of owning a business?Describe the sole trader and distinguish it from a partnership and a company8 min answer →
- Why do businesses keep accounts, and who relies on the information they produce?Explain the purpose of accounting and identify the main users of accounting information8 min answer →
- How does the accounting equation always stay balanced after every transaction?State and apply the accounting equation: assets equal liabilities plus owner's equity9 min answer →
The Double-Entry System
Module overview →- How do we work out the balance left on an account at the end of a period?Balance off ledger accounts and bring down the balance, identifying it as a debit or credit balance9 min answer →
- Which side of an account do we use to record an increase, and why does it depend on the kind of item?State and apply the rules of debit and credit for each of the five elements9 min answer →
- How do we write a transaction into the ledger so that both sides are recorded?Record transactions in T-accounts, showing the date, the other account and the amount on each side9 min answer →
- How do we decide which of the five elements an account belongs to?Classify accounts into the five elements: assets, liabilities, owner's equity, income and expenses8 min answer →
The Trial Balance and Correction of Errors
Module overview →- How do we put right an error, and what do we do when the trial balance will not agree?Correct errors using the general journal and use a suspense account for a difference on the trial balance9 min answer →
- Which errors slip past a trial balance even though it still agrees?Identify the errors that do not affect the agreement of a trial balance9 min answer →
- How do we check that the debits and credits in the ledger agree?Prepare a trial balance from a list of ledger balances and explain its purpose9 min answer →