| View all ACCA F3 / FIA FFA lectures >> | This ACCA F3 / FIA FFA lecture is based on OpenTuition course notes, view or download here>> |
Control Accounts (a)
Comments
Leave a Comment
You must be logged in to post a comment.
Login
Search this site
Instant Poll
Technical Support
Are you having problems with downloading notes or watching lectures?
Please visit the support page: http://opentuition.com/support/
Recent Comments
- Opeyemi on ACCA F1 Organisations
- Samuel Mayes on Introduction to Management Accounting
- bik123 on Planning and Operational variances part 2
- bik123 on Planning and Operational variances part 2
- Abdul Qudoos on ACCA F2 flashcards – set 4
- opentuition_team on Have recent ACCA exams become tougher than in the past?
- camita on Have recent ACCA exams become tougher than in the past?
- junzhang on ACCA F1 Organisations
- sruthi on Accounting for overheads part a
- sruthi on The Management Accountant’s Profit Statement – Absorption Costing part a
Testimonials
Recommend us
Advertise here
Copyright © 2013 · Privacy and Cookies · Advertising · Recommend this site · Contact us · Sitemap · Log in
This is the best lecturer i have ever listened to. Very straight forward explanation. Thumbs up!
Thank you
do we put cash sales in control accounts? reply asap
@Vanna Motilal, ohhhhh dont bother got my ans from the next lecture…..
I have the same question with onyxera.
In solving Test Question 4 of Chapter 16, page 111 on the free lecture notes (ACCA-Paper-F3-notes-December-2011-OpenTuition.pdf), I do not understand why error (2) “The total of the purchase return journal was undercast by $1,000? was not corrected in the payables ledger. Shouldn’t this be debited to the payables ledger to reduce liability?
Could you please kindly help?
@jenniferwoo, The payable ledger is where there is an account for each individual payable. The individual figures will have been entered correctly in these accounts, and the total of the returns journal is irrelevant for this.
Where we use the total from the journal is when we do the double entry – debit payables and credit returns – and so it is the payables account in the nominal ledger that needs correcting.
Excellent
In solving Test Question 4 of Chapter 16, page 111 on the free lecture notes (ACCA-Paper-F3-notes-December-2011-OpenTuition.pdf), I do not understand why error (2) “The total of the purchase return journal was undercast by $1,000″ was not corrected in the payables ledger. Shouldn’t this be debited to the payables ledger to reduce liability?