高顿网校小编为各位ACCA学员整理了科目重点知识点辅导，希望大家查漏补缺，对考试有所帮助。
 
       Recording cash transactions
　　Cash transactions:
　　Payment is made or received immediately.
　　Cheque payments or receipts are classed as cash transactions.
　　Double entry involves the bank ledger:
　　A debit entry is where funds are received
　　A credit entry is where funds are paid out.
　　Recording credit sales and purchases

 

Originally a credit transaction

Originally a cash transaction

Sales return（returns inwards）

Dr. Sales returns
Cr. Receivables

Dr. Sales returns
Cr. Cash

Purchase return（return outwards）

Dr. Paybles
Cr. Purchases returns

Dr. Cash
Cr. Purchases returns

　　
        Credit sales and purchases:
　　● are transactions where goods or services change hands immediately
　　● payment is not made or received until some time in the future.
　　Receivables and payables:
　　● Money that a business is owed is accounted for in the receivables ledger
　　● Money that a business owes is accounted for in the payables ledger.
　　Example:
　　Norris notes down the following transactions that happened to Avon in June.
　　1.Sell goods for $250 – the customer will pay in a month.
　　2.Pay $50 petrol for the delivery van.
　　3.Buy $170 goods for resale on credit.
　　4.Buy another $40 goods for resale, paying cash.
　　5.Buy a new computer for the business for $800.
　　Record these transactions using ledger accounts.
　　Solution:
　　1.Dr. Trade receivables　　　 250
　　Cr. Sales　　　　　　　　　 250
　　2.Dr. Petrol Expense　　　　　50
　　Cr. Cash in bank　　　　　　50
　　3.Dr. Purchase　　　　　　　　170
　　Cr. Trade payables　　　　　170
　　4.Dr. Purchase　　　　　　　　40
　　Cr. Cash in bank　　　　　　40
　　5.Dr. Computer　　　　　　　　800
　　Cr. Cash in bank　　　　　　800
　　● Perpetual and Periodic inventory system
　　Detailed record of inventory movement in and out of the business can be a very tedious and inefficient process. Such a system of keeping stock records is known as the perpetual system.
　　In a retail business with high stock turnover (i.e. the inventory move very fast) it is almost impossible to keep detailed records of every item of stock that is received and sold, and to recognize the profit on sale of very single item of stock, in such circumstance, the periodic inventory system is applied.
　　In other words, the inventory account remains stagnant through out the entire period.
　　An inventory count is performed at the end of the accounting period to determine the inventory held on hand.
　　Profit is established by taking sales less cost of goods sold, where
　　Cost of goods sold = Beginning inventory + Purchasing – Ending inventory