The Double-Entry System
Principles of Accounts · Secondary 3 · The Roles of Accounting and the Accounting Information System · 1.º Período

The Double-Entry System

This topic introduces the rules of double-entry bookkeeping. Students will apply the concepts of debits and credits to record basic business transactions.

MOE Syllabus OutcomesMOE POA Syllabus 7087, Section 3.1MOE POA Syllabus 7087, Section 3.2

About This Topic

This topic introduces the rules of double-entry bookkeeping. Students will apply the concepts of debits and credits to record basic business transactions.

Key Questions

  1. What is the double-entry rule?
  2. How do we determine which account to debit and which to credit?
  3. How does double-entry maintain the balance of the accounting equation?

More in The Roles of Accounting and the Accounting Information System

Stakeholders and the Role of Accounting

Students explore the purpose of accounting and identify the internal and external stakeholders who rely on financial information. They will understand the ethical responsibilities of an accountant.

2 methodologies

The Accounting Equation and Elements of Financial Statements

Students learn the fundamental accounting equation and classify items into assets, liabilities, and equity. They will analyze how business transactions affect the accounting equation.

2 methodologies