Accounting Mind Maps

A New mindmap for IGCSE Accounting has been uploaded on dineshbakshi.com. This mindmap is very helpful for students to understand the basic rules of accounting i.e. debit and credit. This mindmap can be downloaded from www.dineshbakshi.com Mind Map section in PDF format. Check out hundreds of other mind maps on Economics and Business Studies in the same section.

What are Control Accounts?

Not all the transactions done in a business are in cash. Now days, businesses do a lot more transactions in credit and thus there is a long list of debtors and creditors. Since the bulk of entries are made in the accounts of debtors and creditors, these two classes of accounts are taken out of the General Ledger and put in a subsidiary ledger.

Subsidiary ledgers include

Sales Ledger: Which contains all debtors accounts

Purchases Ledger: contains all creditors’ accounts.

This is where control account comes in…

Control account is a summary of all the accounts in the subsidiary ledgers.

The summary of all accounts in the Sales ledger make up the Debtors control account and the summary of all accounts in the Purchase Ledger is known as the Creditors control account.

Read more about how to prepare Control Accounts at www.dineshbakshi.com

dineshbakshi.com has recently been updated with revision notes on Incomplete records. These notes cover the following learning objectives:

• prepare opening and closing statements of affairs;
• calculate net profit or loss from changes in capital over time;
• calculate sales, purchases, gross profit, debtors (trade receivables) and creditors (trade payables) and other figures from incomplete information;
• prepare income statements (trading and profit and loss accounts) and balance sheets;
• make adjustments to financial statements (final accounts)
• apply the techniques of mark-up, margin and stock (inventory) turnover to arrive at missing figures.

Click here to goto these notes

Another worksheet on Depreciation is available at dineshbakshi.com Worksheets Section . It has short answer questions mostly calculation based. These questions tests the students understanding on different methods of depreciation. As per the latest syllabus 2010 for IGCSE accounting three methods of depreciation are tested. These are revaluation method, straight line and diminishing value method.

Click here to go to the Worksheet

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Worksheet on Partnership starts with testing the students on the features and advantages of a partnership and advances to Journal entries. Structured question is based on Partnership final accounts.
Print the worksheet and attempt.
If you need a worksheet on any specific topic then do let us know. We will get back to you ASAP.

click here to go to the worksheet

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This worksheet tests the students on two most important methods of depreciation. These are straight line method and diminishing balance method. Both the methods are tested in the form of structured question. Thorough but interesting worksheet.

Click here to go to worksheet

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A new worksheet on classification of receipts and expenditure is now avialable on dineshbakshi.com Worksheets section. This topic is many times tested in Paper 2 of IGCSE accounting. This worksheet is brief but very effective. It tests the students on their knowledge of classifying a firms reciepts & expenditures as Capital or Revenue.

Click here to go to the Worksheet.

Enjoy and keep coming back for more!!

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dineshbakshi.com presents compact, to the point revision/study notes for IGCSE Partnership.

click here to check out the study/revision notes

Soon this section will be updated with multiple choice questions also. Keep watching!!

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Hi folks,

Its been long since I posted something on the blog.  I am sorry for that as I was busy enjoying my holidays. However, now I am back and you would see a lot of buzz on this blog. Accounting will be my priority in the coming months.

Anyways, this worksheet on Trial balance tests the students on important questions. Looking at their frequency of appearance I can surely say that these questions are ‘examiner’s favourite’ .

Click here to go to Trial Balance Worksheet

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Test your knowledge about accounting concepts now available on dineshbakshi.com

click here to go to the worksheet

Keep checking this blog regularly as more worksheets and structured questions on IGCSE and GCSE accounting are on your way!!

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