Bank reconciliation and illustration

Assalamualaikum and dear students

This is an additional notes for bank reconciliation. I also include a video explaining what it is all about. The example I used for the explanation can also be downloaded using the link provided below. Should you have questions regarding the bank reconciliation, drop me a line and I will try my best to assist you.

Exercise for an example

Powerpoint notes for bank reconciliation

Suspense Account of the MCO

Assalamualaikum and dear students,

Since we are still in the MCO, here is the suspense exercise. I hope you can attempt this question as the solution I will post later in the same posting.

Stay home and don't go wandering around. Just sit tight and do this exercise. It is for your own good!.

Exercise 4 - Error and suspense account - BELLA

Accounting Equation - Extended version

Assalamualaikum and  dear students,

As you all have learnt that the basic accounting equation consist of THREE main component that is ASSET, LIABILITY and EQUITY. The equation is none other and definitely ASSET = LIABILITY + EQUITY.

As for the extended version of accounting equation, I have broken the equity component into 4 elements. These 4 elements made up the total for the equity and those are Capital, Revenue, Expenses and Drawings. 

The changes or movement in these 4 elements will affect the changes in Equity. For example, the owner put more funds into the business, then the capital will expand. The increase in revenue exceeding its cost of sales or expenses thus resulting in profit will also affect the changes in the Equity. If the expenses is more than its revenue, then the Equity will decrease and drawings will also result in the capital reduction.

Please take note that, when we change to extended accounting equation, there will no usage of inventory as it will be put under expenses. This is due to the business having its own cost. First is the cost of sales and the other is normal operating expenses. Then, we eliminate the inventory element in the asset and replace it as expenses.

Attached below is the link to the exercise for you guys to download and I also made a video for its solution. Be kind to me to subscribe my channel and I will try further to improve my publication.

Download the link below for the exercise.

Extended Accounting Equation

Preparation of Financial Statement - Stage 5 Solution

Assalamualaikum and dear students

This is the final stage of the preparation of the basic financial statement from a trial balance. It is normal of the question or the trial balance is longer compared from what you see in the video. I haven't put in depreciation calculation as well as the adjustments of accruals and prepayment yet. But for the meantime, just get yourself to know how to prepare this statement.

Here is the solution

Preparation of Financial Statement - Stage 4 Solution

Assalamualaikum students

For stage 4 solution I put additional items such as discounts received and drawings. So you can watch the video and listen to the explanation of what they are all about. In the end, we should get the final accounts balance. Check carefully one by one the numbers you keyed in as it could make your final accounts not balance.

Preparation of Financial Statement - Stage 3 Solution

Again, not the same question but still using the same method of doing it. This time the trial balance is a little bit longer than the previous with additional items added to make it more complicated. But hey, wait till stage 5 ok. Now I just show you how to beat the Stage 3.

Preparation of Financial Statement - Stage 2 Solution

Ok guys, here is another video for the solution for the stage 2 regarding the creation of financial statement from a trial balance. Of course stage 2 is quite ok and still manageable since I put few items in the trial balance such as returns inwards and returns outwards. Stage 3 is still in the studio preparing what is unprepared.

Hopefully you guys can take a look at the video for better understanding. Stage 3 is coming!

Relevant Cost - Make or Buy Part 2 Solutions

How it ends....

Finally the saga between Lebai Mat and Pak Man has ended. What will happen to Pak Man? How Lebai Mat handling the situation? Click the video for the exciting solution between those two.

Preparation of Financial Statement - Stage 1 solution

Please refer to the video for the solution for Stage 1

Preparation of Financial Statements

Assalamualaikum and dear students

You can find the attachment below for your exercises. This exercise is for you to prepare for your coming examination. Prepare statement of profit and loss as well as statement of financial position. InsyaAllah I'll be making the video for the solution later. Download and try it first ok.


Exercises in stages

Relevant Cost - Make or Buy Part 1 Solutions

Assalamualaikum and dear students,

At last the solution foe the Part 2 saga has been completed. Please be reminded that, there is a slight change in thee question regarding the labour hours. It should be 0.5 for Songkok and not 0.25 as stated. Just change the number and you will know when you watch the video later on.

Enjoy the video!

Relevant cost - Make or Buy

The saga between Lebai Mat and Pak Man regarding the make or buy decision. Will Lebai Mat able to calculate the relevant cost of his production? Will he accept the offer made by his old rival Pak Man? Should they reconcile between them under the name of relevant cost?

Don't miss the exciting video specially made for you.....

Makcik Kiah PKP - A cashbook exercise

Assalamualaikum and dear students

I take this opportunity to give you this exercise and some of you may treat this as Quiz (FA1 students). Download this question and try to settle this within 40 minutes.

Makcik Kiah PKP

Relevant Cost - The saga continues....

Assalamualaikum guys,

This is the second part of the question pertaining to the relevant cost. Kindly download the question. FYI, this question is independent from the previous but you can use the previous as a guide. Since I did the question earlier, before the announcement of the stimulus package then there is no Makcik Kiah participated in this exercise. Blame the PM not me! Now she is happy but not Pak Man nor Lebai Mat.

Download this and no more discussing who will get Makcik Kiah!

Lebai Mat vs Pak Man Part 2

Relevant Cost - Exercise

Lebai Mat vs Pak Man

Part 1

Assalamualaikum and dear students

As we are in the 'lockdown' period, I hardly suggest that you initiate your own revision by looking for exercises in my blog or any other relevant blogs. I will post a video for the solution later but please do on your own before watch them. As such, please subscribe my channel to show your support. Remember, the marking scheme will be tight!

This is just an exercise, don't you ever think that this is the exam question.....hahahaha!

Lebai Mat and Pak Man

Cashbook - Lockddown 1 solution

Assalamualaikum and dear students,

As promised, below is the video pertaining to the question I've posted yesterday. Enjoy and stay home and STUDY!!!

Lockdown Cashbook

Assalamualaikum and dear student,

In conjunction with the COVID-19 lockdown period, Please download the cashbook exercise for you to revise. The solution I will send to you later after I finished doing with the video.

Lockdown cashbook

Profit adjustments - Duduk Diam Dalam Rumah Mangkuk

Assalamualaikum and hi,

Do download the exercise by clicking the link below and watch the video for further understanding. Take this opportunity to study and gain as much knowledge as you can. Prepare for battle! Not only the COVID-19 but for you exam as well....

Duduk diam dalam rumah

Partnership - Stay Home and Associates Solutions

As promised, I attached the videos for you to check on your answers. Make sure you try it first and then watch the video for further understanding. InsyaAllah will produce more videos during the lockdown period pertaining to your final exam.

Stay Home and Associates - Partnership Accounts

Assalamualaikum guys,

While we are in the 'LOCKDOWN' period, I just wanna give you an exercise for you to prepare for the coming final exam. Try to attempt the question as I will try to make a video for the solution to the exercise tomorrow.

Download the question and good luck!

Stay Home and Associates