SACE Accounting Stage 2 Notes

These are the 20 revision notes inside the SACE Accounting Mastery Pack. Open any note to see what it covers before you buy.

1. The fourteen accounting concepts and conventions in actionStage 2 · Understanding accounting concepts and conventions

   Concepts and conventions

2. Accounting entity, legal entity and business ownership structuresStage 2 · Understanding accounting concepts and conventions

   Entities and stakeholders

3. The accounting equation, duality and general journal / ledger recordingStage 2 · Understanding accounting concepts and conventions

   Recording

4. The four accounting reports and the links between themStage 2 · Understanding accounting concepts and conventions

   Reports

5. Digital technologies, regulatory frameworks and stakeholder information needsStage 2 · Understanding accounting concepts and conventions

   Innovation

6. Fully classified income statement for service and trading entitiesStage 2 · Managing financial sustainability

   Final reports

7. Classified balance sheet and statement of changes in equity for a sole traderStage 2 · Managing financial sustainability

   Final reports

8. Prepaid and accrued expenses and revenues: general journal and report extractsStage 2 · Managing financial sustainability

   Balance-day adjustments

9. Depreciation: straight-line, diminishing-balance and units-of-useStage 2 · Managing financial sustainability

   Non-current assets

10. Perpetual inventory cards (FIFO and specific identification) and stock adjustmentsStage 2 · Managing financial sustainability

    Inventory

11. Inventory control: turnover, lower of cost or net realisable value and securityStage 2 · Managing financial sustainability

    Inventory

12. Debtors ledger, control account, schedule of debtors and credit controlStage 2 · Managing financial sustainability

    Debtors

13. Bad debts, allowance for doubtful debts, ageing analysis and debtor turnoverStage 2 · Managing financial sustainability

    Debtors

14. Cash control and bank reconciliation statementsStage 2 · Managing financial sustainability

    Cash

15. Statement of cash flows: calculations and why profit is not cashStage 2 · Managing financial sustainability

    Cash

16. Schedules of collections and cash budgets; budgeted final reportsStage 2 · Managing financial sustainability

    Budgeting

17. Breakeven analysis and cost behaviourStage 2 · Managing financial sustainability

    Budgeting

18. Ratio analysis: return, liquidity and solvency, and converting turnover to daysStage 2 · Managing financial sustainability

    Analysis

19. Sources of finance and ownership-structure adviceStage 2 · Providing accounting advice

    Advice

20. Writing authentic accounting advice: letter, report or email with qualitative and quantitative factorsStage 2 · Providing accounting advice

    Advice