Course Content
Syllabus, Recommended Books, Paper Pattern & Past Papers
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Recommended Books for FFA
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Past Papers
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Syllabus
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Paper Structure for FFA
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PRC
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All Lecture Document with Links of Lectures and Handouts
Introduction to Financial Accounting
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What is Financial Accounting?
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Basic Terms of Financial Accounting
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Basic Terms of Financial Accounting
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Accounting Equation
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Accounting Equation
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Accounting Equation
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Rules of Debit & Credit and Analysis of Transaction
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Rules of Debit and Credit
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Journalizing , Ledger and Trial Balance
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Journalizing & Ledger(Only Posting)
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Ledger and Trial Balance
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Financial Reporting & Adjusting Entries
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Financial Reporting and Adjustment for Prepayments(Deferred Expenses)
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Adjustments for Deferred Expense, Deferred Income and Accrued Expense
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Kinds of Assets and Adjustment for Depreciation
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Adjustment for Accrued Income
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Practice File-Adjusting Entries
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Accounting Cycle-Servicing Business
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Adjustment for Bad Debts, Adjusting Entries, Adjusted Trial Balance , Income Statement and Closing Process of Servicing Business
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Servicing Business-Closing Entries, Post-Closing Trial Balance, Balance Sheet, Opening Entry and Introduction of Trading Business
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Acounting Cycle-Trading Business
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Difference between Perpetual & Periodic Inventory Systems and Entries for Perpetual Inventory System
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Complete Accounting Cycle for Trading Business-Perpetual Inventory System from Journal to Opening Entry
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Differences between the entries of perpetual and periodic inventory systems and journal , ledger & trial balance of trading business under periodic inventory system
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Trading Business-Periodic Inventory System-From Adjustments to Opening Entry
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Practice for Financial Statements(Both Trading and Servicing Businesses)
In this, I have uploaded 2 videos in which I have taught how to prepare income statement, balance sheet and closing entries without making adjusted trial balance.Then I have uploaded some practice for you and I will update this list in the future too BECAUSE THE MOST IMPORTANT SECTION OF FFA IS ACCOUNTING CYCLE.
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Financial Statements and Closing Entries for Servicing and Trading Business(Perpetual)
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Financial Statements and Closing Entries for Trading Business-Periodic Inventory System
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Inventory Valuation
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Perpetual Inventory System-Specific Identification Method & FIFO
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Perpetual Inventory System-LIFO & Average Method
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Periodic Inventory System-FIFO, LIFO & Weighted Average Methods and Their Comparison
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Comparative Income Statement and Effects of Overstatement or Understatement of Ending and Opening Inventories
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IAS-2(Inventory)-Lower of Cost or NRV
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IAS-2(Inventory)-Lower of Cost or NRV-Mark-up and Margin
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Valuation of Accounts Receivable-BAD DEBTS
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Valuation of Accounts Receivable-Explained and Balance Sheet Approach
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Bad Debts-Balance Sheet Approach
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Bad Debts-Balance Sheet and Income Statement Approaches
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Does writing off accounts receivable change its realizable value?
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Aging of Accounts Receivable
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Control Account
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Control Account-Sales Ledger and Purchase Ledger Account
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Accounting for Tangible Non-Current Assets (Depreciation)
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Tangible Non-Current Assets & Capital and Revenue Expenditures
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Methods to Estimate Depreciation-Straight Line Method
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Methods to Estimated Depreciation-Diminishing Balance Method and Sum of the Years’ Digits Method
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Working Hours Method, Units Production Method & Disposal
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Disposal of Non-Current Assets & Change in Estimate
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How to Account for Extraordinary Repairs of Fixed Assets
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Correction of Errors
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Understanding Accounting Errors: One-Sided vs Two-Sided Errors, and Types of Errors
Two-Sided Accounting Errors: Definitions, Examples, and Rectification Methods
Mastering Suspense Accounts: Correcting One-Sided Errors with Practical Examples
Perfecting Error Correction in Accounting:Suspense Account ,Trial Balance Adjustments
Book of Prime Entry
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Cash Book
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Petty Cash Book
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Sales Journal & Sales Return & Allowance Journal
Purchase Journal & Purchase Return & Allowance Journal
Bank Reconciliation Statement
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Bank Reconciliation Statement: Cash Book, Bank Statement, and Discrepancies Explained
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Bank Reconciliation Statement Step-by-Step Questions and Solutions with Entries
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Accounting for Incomplete Records/Single Entry
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Pure Single Entry-Introduction and Problems
Pure Single Entry-Problems & Solutions
Mixed Single Entry i.e. Incomplete Records with Cash Book 1
Mixed Single Entry i.e. Incomplete Records with Cash Book 2
Incomplete Records-Mary Grimes
Accounting For Non-Profit Organizations
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“Non-Profit Organizations Accounting: Easy Explanation with Solved Examples”
Practice
Company Accounting-Issuance of Shares & Financial Statements
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Introduction to Company Accounting: Key Concepts,Types of Company & Shares
Accounting for Issuance of Shares in Consideration of Cash-Market Value = Par Value
Accounting for Issuance of Shares: At Premium & Discount Explained
Balance Sheet Preparation: Share Issuance at Par, Premium & Discount
How to Record Issuance of Shares for Cash and Non-Current Assets-Part 1
How to Record Issuance Shares for Cash and Non-Current Assets -Part 2
Issuance of Shares in Consideration of Running Business & Preliminary Expense
Disposal of Income of the Company-Appropriations, Cash Dividend, Stock Dividend and Statement of Retained Earnings
Accounting for Sales Tax
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Accounting for Sales Tax
Cash Flow Statement
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Introduction and Direct Method Formulas
Cash Flow Statement Solved: Direct vs. Indirect Method Explained with Examples
Cash Flow Statement-Practice(Computations, Modern Equipment, Farooqui Ltd & CPA Company
Cash Flow Statement-Practice(Crescent, Shan, Farooqui & Farhan)
Analysis of Financial Statements
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Introduction to Financial Statement Analysis-Change, Change% and Ratio Analysis
Practice-Solvency Ratios, Leverage Ratios, Profitability Ratios and Shareholders’ Ratios
Fundamentals of Financial Accounting
About Lesson

Video Link: https://youtu.be/qi4Y9BZUo1Y

In this lecture, we dive deep into Purchase Journals and Purchase Returns & Allowance Journals, guiding you step-by-step on how to:

✔️ Prepare Purchase Journals

✔️ Record Purchase Returns & Allowances

✔️ Maintain the General Ledger for Purchases, Accounts Payable, and Purchase Returns & Allowances

✔️ Create a Subsidiary Ledger of Accounts Payable for each supplier

✔️ Prepare the Schedule of Accounts Payable

Additionally, we explore examples of Sales Journals and Sales Return Journals, ensuring a comprehensive understanding of these essential accounting processes. Perfect for students, accountants, and anyone looking to strengthen their knowledge of journal entries and ledgers.

💡 Key Topics Covered:

-Purchase Journal & Returns

-General & Subsidiary Ledgers

-Schedule of Accounts Payable

-Sales Journal & Sales Returns Examples

🔔 Don’t forget to Like, Share, and Subscribe for more accounting tutorials!

#AccountingBasics #PurchaseJournal #SalesJournal #AccountsPayable #SubsidiaryLedger #AccountingTutorials

Exercise Files
Purchase Journal-Question and Solution.pdf
Size: 189.03 KB
Solution Sales Journal Qno8.pdf
Size: 160.43 KB
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