FRK121

These notes contain everything you will need to know from Chapter 7; Partnerships. Relevant theory is included such as what is a partnership and elements of the partnership agreement. Practical examples and explanations are included on how to record drawings and current account for partners as well as how to do the distribution account. Financial statements of partners and how to deal with loans to and from partners are included.

These notes contain everything you will need to know from Chapter 2; Inventory. Included in these notes are how to measure inventories, the cost formulas with examples , how to record net realisable value as well as how to deal with insurance of inventory. These notes also go into depth about merchandise and how to record the manufacturing process with examples. Disclosure of Inventory is also included.

These notes explain everything you will need to know from Chapter 9; Non-profit entities. Theory such as characteristics of a NPO and nature of a NPO are included as well as how to record different funds. These notes also go into depth about membership fees, what they are and a step by step method of how to record them with practical examples.

These notes contain everything you will need to know from Chapter 5; Presentation of financial statements. The 10 qualitative characteristics are explained in great detail as well as how each financial statement connects to each other. The statement of profit or loss, statement of changes in equity, statement of financial position and other notes are included and explained in an easy to understand way.

These notes contain everything you will need to know from Chapter 10; Statement of cash flows. Theory for a better understanding is provided and each section of the statement is broken down and explained with practical examples.

These notes contain everything you will need to know from Chapter 3; current and non-current liabilities. Relevant theory is included as well as step by step methods on how to record loans and debentures correctly with practical examples. How to disclose of liabilities in the correct financial statements is also included.

These notes contain everything you will need to know from Chapter 8; companies. Theory such as what is a company, categories of companies, formation of companies and funding of companies is included. These notes go into depth about shares and dividends, what they are and how to record them in an easy to understand way. Corporate income tax is also explained using diagrams to make it understandable. Equity of a company as well as how to disclose all this info in financial statements are include...

These notes contain everything you will need to know from Chapter 6; Financial ratios. Relevant theory such as advantages and disadvantages of ratio analysis is summarised. All financial ratios are explained in terms of how to calculate them, what they are used for and how to answer questions in tests.

These notes contain everything you will need to know from Chapter 1; tangible and intangible assets. These notes provide theory for better understanding as well as important formulas regarding deprecation and amortisation. Practical examples and step by step methods to record asset realisation are provided.