KVKAccounting

This Package Contains ...

This module provides comprehensive exercises on the balance day adjustments for accruals and prepayments. It includes concise notes, approximately 100 subjective questions and 240 multiple choice questions on the topics relating to:

• Accounting principles pertaining to expenses, revenues and profit measurement
• Adjusting procedures for accrued and prepaid expenses and revenues
• Two methods available to show adjustments in accounts
• Reasons for reversal entries and the way to do it
• Recording approaches for prepayments and how adjustments are done
• Adjustments and its effect on accounting equation, specifically tested in multiple choice questions

The aim of this module is not only to prepare for exams but also to provide a comprehensive understanding of all concepts and issues relating to accruals and prepayments.