Double entry and the books of prime entry
How a transaction travels from source document to ledger account, and why the books of prime entry exist.
Included with membership
Mai Studies Original · Accounting & Finance
AAT Study Support: Level 2 Bookkeeping and Costing
A complete Mai Studies study-support programme for learners working towards AAT Level 2 assessments. Every module contains original written notes with worked examples, a tutor-voice classroom transcript, a practical activity with a worked solution, mock questions with explained answers and a marked written assignment. Mai Studies is an independent provider. It is not AAT, it is not an AAT Approved Training Provider, and this programme carries no exam credit or exemption. You register with AAT yourself and sit the assessment at an AAT approved assessment venue.
10 weeks 60 guided hours Foundation
Included with Mai Studies membership at no extra cost. Fee waivers are available through scholarships and open access.
What you will achieve
- Record transactions using double entry and the books of prime entry
- Maintain sales and purchases ledgers and reconcile control accounts
- Deal with VAT correctly in day-to-day bookkeeping records
- Prepare a bank reconciliation from a cash book and bank statement
- Classify costs by behaviour, function and element
- Value inventory and calculate simple unit costs
Entry guidance
- — No prior accounting study required
- — Comfortable with basic arithmetic
- — Around six study hours each week
Original Mai Studies learning material. This is a professional completion programme, not a regulated qualification or university accreditation.
Programme syllabus
6 applied modules
4h
Ledgers and control accounts
Maintaining the sales and purchases ledgers and proving them against the control accounts.
VAT in the bookkeeping records
How VAT is recorded on sales and purchases, and how the VAT control account is used.
The cash book and bank reconciliation
Using the cash book as both a book of prime entry and a ledger account, and proving it against the bank.
Cost classification and behaviour
How costs are grouped and how they change as activity changes.
Inventory valuation and unit costing
Valuing what is held in store and calculating what a unit really costs.