2017 7175 GCE O Level POA Suggested Solutions

There are several methods of depreciation used across different financial reporting standards around the world. For the 7175 and 7088 GCE O/N Level Syllabus, we focus on two specific methods: 1. Straight Line Method (SLM) 2. Reducing Balance Method (RBM) Methods Advantages Disadvantages Effect on Net Profit Straight Line Method a. Dep = (HC-SV) Useful…

If you are embarking on a course on accounting, whether it’s Principles of Accounts (POA) or at tertiary level, here’s some good news for you. Singapore aspires to be a leading global accountancy hub for Asia-Pacific which is the fastest-growing region in accountancy services, forecasted to reach US$ 38.3 billion by 2013. Singapore contributed 2.8%…

It might seem obvious, but in managing a business, it’s important to understand how the business makes a profit. A company needs a good business model and a good profit model.  A business sells products or services and earns a certain amount of margin on each unit sold. The number of units sold is the…

Accrual—accrual-basis recognition precedes (leads to) cash receipt/expenditure Revenue—recognition of revenue earned, but not received Expense—recognition of expense incurred, bill not paid Deferral—cash receipt/expenditure precedes (leads to) accrual-basis recognition Revenue—postponement of recognition of revenue; cash is received; but revenue is not earned Expense—postponement of recognition of expense; cash is paid; but expense is not incurred A deferral postpones…

7092/01 GCE O’ Level Principles of Accounts 2010 Paper 1 Suggested Solutions 7092/02 GCE O’ Level Principles of Accounts 2010 Paper 2 Suggested Solutions Previous Post The rough working for this afternoon’s GCE O’ Level Principles of Accounts Paper 2 Trading, Profit and Loss is out. Please click here download the pdf file. Goodness, and…