I N T E R A C T I V E T E X T INTRODUCTORY PAPER 1 RECORDING FINANCIAL TRANSACTIONS (INTERNATIONAL) BPP is the official provider of training materials for the ACCA's CAT qualification. This Interactive Text forms part of a suite of learning tools, which also includes CD-ROMs for tuition and computer based assessment, and the innovative, internet-based Learn Online. This text has been specifically written to the current syllabus and Teaching Guide. • Clear language and presentation • Plenty of questions, examples and quizzes to demonstrate and practise techniques • A question and answer bank prepared by BPP Learning Media authors FOR EXAMS IN DECEMBER 2008 AND JUNE 2009 ii First edition 2003 Sixth edition June 2008 ISBN 9780 7517 4830 7 (Previous ISBN 07517 3577 2) British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Published by BPP Learning Media Ltd BPP House, Aldine Place London W12 8AA www.bpp.com/learningmedia Printed in Great Britain by WM Print 45-47 Frederick Street Walsall West Midlands WS2 9NE Your learning materials, published by BPP Learning Media Ltd, are printed on paper sourced from sustainable, managed forests. All our rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of BPP Learning Media Ltd. We are grateful to the Association of Chartered Certified Accountants for permission to reproduce past examination questions. The suggested solutions in the exam answer bank have been prepared by BPP Learning Media Ltd, unless where otherwise stated. © BPP Learning Media Ltd 2008 Contents iii Contents Page Introduction How to use this Interactive Text v Approach to examining the syllabus vi The computer based examination vii Tackling multiple choice questions viii Part A Introduction to transaction accounting 1 Business transactions and documentation 3 2 Assets, liabilities and the accounting equation` 31 3 Statement of financial position and income statement 45 4 Recording, summarising and posting transactions 53 5 Completing ledger accounts 87 Part B Recording and accounting for cash transactions 6 Receiving and checking money 117 7 Banking monies received 135 8 Recording monies received 157 9 Authorising and making payments 169 10 Recording payments 197 11 Maintaining petty cash records 211 12 Bank reconciliations 247 Part C Recording and accounting for credit transactions 13 Sales and sales returns day books 263 14 The receivables ledger 285 15 Purchase and purchase returns day books 309 16 The payables ledger 333 17 Control accounts 351 Part D Payroll 18 Recording payroll transactions 363 Exam question bank 401 Exam answer bank 408 List of key terms 413 Index 415 Review form and free prize draw

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