CSEC® Principles of Accounts syllabus matching chart

 Syllabus topics in blue are new or have changes in sub‐topics.

 Topic and sub‐topics which are asterisked * and/or underlined require practical activities and are suitable for
school‐based assessment.

CSEC® Principles of CSEC® Principles of Accounts syllabus Principles of Accounts for the
Accounts syllabus 2017: 2017: Content Caribbean 6th Edition by
Specific objectives Sheila Robinson and Frank
Wood (2018)
SECTION 1: ACCOUNTING SECTION 1: ACCOUNTING AS A PART 1 Introduction to
AS A PROFESSION PROFESSION principles of accounting
1. Explain the concept and Concept of ‘accounting’ and ‘principles of Chapter 1 Introduction to
purposes of accounting accounting’. accounting principles
Accounting as a business practice – the
purpose of accounting.
2. Identify the users of Internal and external users of accounting Chapter 1 Introduction to
accounting information information and their needs. accounting principles

3. Describe traditional and Careers in areas such as: Chapter 1 Introduction to

emerging careers in the (a) banking accounting principles
field of accounting (b) management
(c) insurance
(d) entrepreneurship.
4. Discuss ethical issues in (a) Ethical principles of accounting. For Chapter 2 Professional ethics
the field of accounting example, Code of Ethics: objectivity,
professional competence, integrity,
professional behaviour, and
confidentiality:
(i) appropriate application of the
ethical principles
(ii) inappropriate application of the
ethical principles.
(b) Appropriate application of accounting
principles.
(c) Inappropriate application of
accounting principles. For example,
fraud, tax‐evasion.
(d) Results of inappropriate application of
accounting principles. For example, law
suits, loss of job, loss of integrity,
imprisonment, and fines.

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 SECTION 2: ACCOUNTING SECTION 2: ACCOUNTING AS A SYSTEM PART 1 Introduction to
AS A SYSTEM principles of accounting
PART 2 Introduction to
financial statements and
ratios
PART 5 Financial statements
of other organisations
1. Outline the concepts (a) Accounting concepts and conventions. Chapter 4 Accounting
and conventions that (b) Principles which guide the accounting concepts
guide the accounting process:
process (i) accrual and matching
(ii) prudence (conservatism)
(iii) consistency
(iv) separate entity.

2. Describe the accounting The accounting cycle with its Chapter 3 The accounting
cycle diagrammatic representations. system.
3. Appraise the accounting Types of business organisations: Chapter 1 Introduction to
features of various types (a) sole traders accounting principles, Section
of business organisations (b) partnerships 1.6.
(c) corporations (limited liability Detailed information on
companies) specific organisation types is
(d) cooperatives found in:
(e) non‐profit organisations.  Chapters 33 Receipt and
payment accounts and
income and expenditure
accounts
 Chapter 34 Partnership
Accounts: an introduction
 Chapter 35 New partners:
entries on admission,
goodwill and premium
 Chapter 38 Accounting for
limited liabilities
companies
 Chapter 39 Accounting for
cooperatives

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 4. Identify the main Financial statements: Chapter 11 Introduction to
financial statements (a) income statement (trading and profit the trading and profit and
prepared by various and loss account) loss account (income
business organisations (b) income and expenditure account statements)
(c) balance sheets Chapter 12 Statements of
(d) cash flow statements. financial position (balance
(Teachers are not expected to teach how sheets)
to prepare the financial statements at this
stage. However, the income and
expenditure account should only be
identified, and the purpose stated. See
Section 9.)
5. Assess the role and (a) Accounting processes which could be Chapter 44 Computers and
impact of technology on readily performed by the use of the accounting systems
the accounting process computer, for example, payroll,
inventory control, receivables and
payables schedules.
(b) Software currently being used in
accounting.
(c) Advantages and disadvantages of using
the computer in accounting.
6. Explain the concept of a (a) Definition and purpose of a balance Chapter 5 The accounting
balance sheet and the sheet. equation and the statement
balance sheet equation (b) Balance sheet equation A = C + L. of financial position (balance
sheet)
Chapter 12 Statements of
financial position (balance
sheets)
7. Identify the Definition and examples of assets, Chapter 5 The accounting
components of a balance liabilities and capital. equation and the statement
sheet of financial position (balance
sheet)
Chapter 12 Statements of
financial position (balance
sheets)
8. Give examples of Definition and examples of non‐current Chapter 5 The accounting
different types of assets assets, current assets, current liabilities, equation and the statement
and liabilities non‐current liabilities. of financial position (balance
sheet)
Chapter 6 The double entry
system for assets, liabilities
and capital

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 9. *Construct balance (a) Preparation of balance sheets. Chapter 5 The accounting
sheets (b) Arrangement of assets and liabilities in equation and the statement
order of: of financial position (balance
(i) permanence sheet)
(ii) liquidity. Chapter 12 Statements of
financial position (balance
sheets)
10. Determine which Effect of transactions on balance sheet Chapter 5 The accounting
items in a balance sheet items – increase or decrease in items equation and the statement
will change as a result of while maintaining the balance sheet of financial position (balance
various transactions. equation. sheet)
Chapter 12 Statements of
financial position (balance
sheets)
SECTION 3: BOOKS OF SECTION 3: BOOKS OF ORIGINAL ENTRY PART 3 Books of original
ORIGINAL ENTRY entry

1. Explain the uses of The uses of books of original entry: (a) Chapter 22
books of original entry (a) general journal (b) Chapter 18
(b) purchases book (c) Chapter 19
(c) sales book (d) Chapter 19
(d) returns outwards book/purchases (e) Chapter 19
returns (f) Chapter 20
(e) returns inwards book/sales returns (g) Chapter 21.
(f) cash book
(g) petty cash book.
2. Distinguish between Cash and credit transactions. Chapters 17 Accounting for
cash and credit The use of forms of payment including: sales, discounts and internal
transactions (a) cash controls
(b) cheques Chapter 41 The banking
(c) credit cards system and payroll
(d) debit cards. accounting
3. Identify source Source documents related to the books of Chapter 16 Business
documents related to original entry: documentation
books of original entry (a) sales invoice
(b) purchases invoice
(c) credit notes
(d) debit notes
(e) petty cash vouchers
(f) receipts from cash transactions
(g) non‐cash transactions.
4. *Prepare source Prepare source documents. Chapter 16 Business
documents for use in documentation
transaction descriptions

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 5. *Translate source Use source documents prepared to create Chapter 16 Business
documents into transactions. documentation
transaction descriptions
6. *Use source documents Identify the book of original entry to which Chapter 16 Business
to make entries into books transactions will be recorded. documentation
of original entry Record transactions using source
documents: (a) Chapter 18
(a) purchases book (b) Chapter 19
(b) sales book (c) Chapter 19
(c) returns inwards book/sales returns (d) Chapter 19
(d) returns outwards book/purchases (e) Chapter 20
returns (f) Chapter 21
(e) cash book
(f) petty cash book.
7. Distinguish between Treatment of trade discounts and cash Chapter 13 Financial
trade and cash discounts discounts. statements: further
considerations
Chapter 17 Accounting for
sales, discounts and internal
control
8. Distinguish between Cash discounts – discounts allowed and Chapter 13 Financial
discounts allowed and discounts received. statements: further
discounts received considerations
Chapter 17 Accounting for
sales, discounts and internal
control
Chapter 20 Cash book and
cash discount
9. *Balance cash books (a) Balancing of the cash book. Chapter 20 Cash book and
(b) Balancing the petty cash book using cash discount
the imprest system. Chapter 21 Petty cash and
the imprest system
10. Interpret the balances The significance of the balances brought Chapter 20 Cash book and
of the cash books down on the cash books. cash discount
11. *Indicate treatment of Treatment of the totals from the books of Chapter 17 Accounting for
totals from books of original entry (day books). sales, discounts and internal
original entry control

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 SECTION 4: LEDGERS AND SECTION 4: LEDGERS AND THE TRIAL PART 1 Introduction to
THE TRIAL BALANCE BALANCE principles of accounting
1. Describe the different Classification of accounts: Chapter 3 The accounting
classes of accounts (a) nominal – expenses and revenue cycle
(b) real – assets
(c) personal – accounts receivable and
accounts payable.
2. Identify the different Different types of ledgers for recording Chapter 3 The accounting
types of ledgers nominal, real and personal accounts: cycle
(a) general ledger
(b) sales/accounts receivable ledger
(c) purchases/accounts payable ledger.
3. Explain the significance Rules of entry for assets, liabilities, income Chapter 6 The double entry
of debit and credit in each (revenue), capital and expenses. system for assets, liabilities
class of account and capital
4. *Draw up simple Recording transactions in accounts using Chapter 6 The double entry
account formats, neatly the double entry system. system for assets, liabilities
and accurately and capital
Chapter 7 The double entry
system for the asset of
inventory
Chapter 8 The double entry
system for expenses and
revenues.
5. *Post from books of Posting to general and subsidiary ledgers. Chapter 16 Business
original entry to the documentation
general ledger and the Chapter 17 Accounting for
subsidiary ledgers sales, discounts and internal
control
Chapter 18 Accounting for
purchases
Chapter 19 Accounting for
returns
6. *Balance and close Balancing accounts: calculation of the Chapter 9 Balancing off
accounts balances carried down (c/d) and bringing accounts.
down (b/d) those balances.
7. Interpret entries and The significance of the balances brought Chapter 9 Balancing off
balances down on the accounts. accounts
Chapter 10 The trial balance
Chapter 29 The extended
trial balance
8. *Use the balances Preparation of the trial balance. Chapter 10 The trial balance
brought down to Chapter 29 The extended
construct the trial balance trial balance

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 9. Outline the uses and Uses and limitations of the trial balance Chapter 10 The trial balance
limitations of the trial Chapter 29 The extended
balance. trial balance

SECTION 5: THE SECTION 5: THE PREPARATION AND PART 5 Financial statements

PREPARATION AND ANALYSIS OF FINANCIAL STATEMENTS OF of other organisations
ANALYSIS OF FINANCIAL THE SOLE TRADER
STATEMENTS OF THE
SOLE TRADER
1. Explain the purpose of The purpose of preparing financial Chapter 11 Introduction to
preparing financial statements to satisfy the needs of the the trading and profit and
statements users. loss account (income
statements)
Chapter 12 Statements of
financial position (balance
sheet)
Chapter 13 Financial
statements: further
considerations
2. Identify the Trading and profit and loss account and Chapter 11 Introduction to
components of the balance sheet the trading and profit and
financial statements loss account (income
statements)
Chapter 12 Statements of
financial position (balance
sheet)
Chapter 13 Financial
statements: further
considerations
3. *Draw up the income Income statements for sole traders Chapter 11 Introduction to
statement for sole traders including adjustments for return inwards the trading and profit and
to determine gross profit (sales returns) and return outwards loss account (income
or loss and net profit or (purchases returns), carriage – inwards statements)
loss and outwards; and closing inventory. Chapter 13 Financial
statements: further
considerations.
4. *Prepare classified Definition of working capital (net current Chapter 12 Statements of
balance sheet in vertical assets); calculation of working capital; financial position (balance
style preparation of classified balance sheet sheet)
showing working capital.
5. Explain the significance Working capital as a basic tool for Chapter 14 Introduction to
of the working capital for solvency; working capital formula. accounting ratios
the operation of a
business

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 6. *Use ratios to Calculate simple ratios such as inventory Chapter 14 Introduction to
determine the turnover, average inventory, gross profit accounting ratios
performance (profitability) percentage, net profit percentage.
of the business Use ratios to determine business
performance.
(See Section 9, Specific Objective 10)
7. *Calculate ratios to Calculate ratios such as current ratio; acid Chapter 14 Introduction to
demonstrate the financial test ratio; return on investment. accounting ratios
position of a business Use ratios to analyse and interpret the
financial position of a business.
(See Section 9, Specific Objective 10)
8. *Show the effect of net Treatment of net profit or loss on the Chapter 14 Introduction to
profit or loss on capital balance sheet. accounting ratios
9. Make Preparation of simple reports evaluating a Chapter 14 Introduction to
recommendations about a business based on ratios and making accounting ratios
business based on ratio recommendations.
analysis
SECTION 6: ACCOUNTING SECTION 6: ACCOUNTING ADJUSTMENTS PART 1 Introduction to
ADJUSTMENTS principles of accounting
PART 3 Books of original
entry
PART 4 Accounting
adjustments
1. Explain accounting Prudence, accrual, consistency. Chapter 4 Accounting
concepts that underpin concepts
the need for adjustments Chapter 28 Accruals,
prepayments and other
adjustments for financial
statements
2. Explain why The reasons for adjustments; application Chapter 28 Accruals,
adjustments are made to of the matching/accruals concept. prepayments and other
financial statements adjustments for financial
statements.
3. Prepare journal entries Pre‐payments – prepaid expenses and Chapter 28 Accruals,
and ledger accounts to advanced revenues; accruals – accrued prepayments and other
reflect adjustments and expenses and revenues. adjustments for financial
the treatment in the (a) Journal entries. statements
balance sheet (b) Ledger accounts.
4. Explain the reasons for Definition of bad and doubtful debts; Chapter 27 Bad debts and
bad debts reasons for bad debts (aging debtors) and provision for doubtful debts
provisions for doubtful debts

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 5. *Prepare journal entries Journal entries and ledger accounts. Chapter 22 The general
and ledger accounts to journal
write off bad debts and
create provision for
doubtful debts
6. Indicate the treatment Accounting entries in the income Chapter 11 Introduction to
of bad and doubtful debts statement and balance sheet. the trading and profit and
in the income statement loss account (income
and balance sheet statements)
7. Discuss the nature of Definition of depreciation. Chapter 25 The nature of
depreciation Causes of depreciation. depreciation and calculations
Factors to be considered when calculating Chapter 26 Double entry
depreciation (cost, estimated useful life records for depreciation and
and scrap value). the disposal of assets
8. *Calculate annual Straight line method (using formula) and Chapter 25 The nature of
depreciation expenses reducing balance method of depreciation. depreciation and calculations
using straight line method Chapter 26 Double entry
and reducing balance records for depreciation and
method the disposal of assets
9. *Prepare journal entries Journal entries for the provision for Chapter 25 The nature of
and ledger accounts for depreciation; the maintenance of the depreciation and calculations
provision for depreciation provision for depreciation account; the Chapter 26 Double entry
treatment of accumulated depreciation on records for depreciation and
the balance sheet; the determination of the disposal of assets
net book value (NBV).
10. Distinguish between Capital expenditure; revenue expenditure. Chapter 15 Capital and
capital expenditure and revenue expenditure
revenue expenditures
11. Determine the amount Journal entries and ledger accounts for Chapter 15 Capital and
of expenses or revenues expenses and revenues. revenue expenditure
to be transferred to the
income statement
12. *Prepare income (a) Pre‐payments and accruals. Chapter 28 Accruals,
statements to reflect (b) Indicate where accruals and prepayments and other
adjusting entries prepayments will appear on the adjustments for financial
balance sheet. statements
13. *Prepare financial The preparation of adjusted financial Chapter 28 Accruals,
statements after statements. prepayments and other
adjustments adjustments for financial
statements

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 SECTION 7: CONTROL SECTION 7: CONTROL SYSTEMS PART 3 Books of original
SYSTEMS entry
PART 4 Accounting
adjustments
1. Explain the uses of (a) The need for control systems. Chapter 23 Control accounts
control systems in the (b) Uses of control systems.
accounting process
2. Outline the THREE most Common control systems: Chapter 32 Suspense
commonly used control (a) suspense account accounts and errors
systems in the accounting (b) control accounts
process (c) bank reconciliation statements.
3. Distinguish between Types of errors. Chapter 32 Suspense
those errors which affect accounts and errors
and those which do not
affect the trial balance
4. *Prepare journal entries Corrections of errors via journal entries. Chapter 32 Suspense
for the correction of accounts and errors
errors
5. Explain the need for Uses of the suspense account. Chapter 32 Suspense
suspense account accounts and errors
6. *Construct a suspense Suspense accounts Chapter 32 Suspense
account accounts and errors
7. *Construct a statement The effect of errors on the income Chapter 32 Suspense
of revised profit after the statement and the balance sheet. accounts and errors
correction of errors
8. Explain the purposes of Uses of control accounts. Chapter 23 Control accounts
control accounts and how
they are prepared
9. Identify the sources of Sources of information for entries in Chapter 23 Control accounts
information for entries control accounts.
made in control accounts
10. *Construct sales and Sales ledger control accounts, purchases Chapter 23 Control accounts
purchases ledger control ledger control accounts.
accounts
11. Explain the Meaning (significance) of the balances on Chapter 23 Control accounts
significance of the control accounts.
balances on control
accounts
12. Identify items that will Items that cause the difference between Chapter 31 Errors and their
result in differences cash book and bank statement balances effect on accounting records
between cash book and and updating of the cash book: Chapter 32 Suspense
bank statement balances unpresented cheques; standing orders; accounts and errors
bank charges; late lodgments; and,
dishonoured cheques.

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 13. *Construct a bank Uses and construction of the bank Chapter 24 Bank
reconciliation statement reconciliation statement. reconciliation statements
using the adjusted cash
book balance
SECTION 8: ACCOUNTING SECTION 8: ACCOUNTING FOR PART 5 Financial statements
FOR PARTNERSHIPS PARTNERSHIPS of other organisations
1. Define a partnership Definition of partnership; comparison of a Chapter 34 Partnership
business partnership with sole traders and accounts: an introduction
corporations; types of partners.
2. State the features of a Features of partnership – voluntary Chapter 34 Partnership
partnership association, mutual agency, unlimited accounts: an introduction
liability.
3. Give reasons for Reasons for formation of partnership, for Chapter 35 New partners:
establishing partnerships example, increased capital, diverse skills. entries on admission,
goodwill and premium
4. Outline the essential Features of partnership agreement, Chapter 34 Partnership
components of a including share of profits, interest on accounts: an introduction
partnership agreement capital and drawings, salaries.
5. *Prepare journal entries The capital account of partners – cash and Chapter 34 Partnership
and ledger accounts to non‐cash resources; types of capital accounts: an introduction
record the capital of account – fixed and fluctuating capital
partnership accounts and their implications.
6. *Use various methods Methods of sharing profit/loss: capital Chapter 34 Partnership
to share profit/loss among ratio, fixed percentage, equally. accounts: an introduction
partners
7. *Prepare appropriation The preparation of the appropriation Chapter 34 Partnership
account of partnerships account. accounts: an introduction
8. *Prepare current The current account prepared with items Chapter 34 Partnership
account of partners posted from the appropriation account; accounts: an introduction
columnar form and single accounts.
9. Explain the significance The significance of the debit and credit Chapter 34 Partnership
of the brought down balances brought down on the current accounts: an introduction
balances on partners’ accounts.
current accounts
10. *Prepare balance The treatment of current account Chapter 34 Partnership
sheet of partnerships balances on the balance sheet; (emphasis accounts: an introduction
on capital section). Chapter 38 Accounting for
limited liability companies

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 SECTION 9: ACCOUNTING SECTION 9: ACCOUNTING FOR LIMITED PART 5 Financial statements
FOR LIMITED LIABILITY LIABILITY COMPANIES, CO‐OPERATIVES of other organisations
COMPANIES, CO‐ AND NON‐PROFIT ORGANISATIONS
OPERATIVES AND NON‐
PROFIT ORGANISATIONS
1. Identify the essential (a) Features of limited liability companies, Chapter 33 Receipts and
features of limited liability co‐operatives, non‐profit, public and payments accounts and
companies, co‐operatives private organisations. income and expenditure
and non‐profit (b) Principles of limited liability accounts
organisations companies, co‐operatives, non‐profit, Chapter 34 Partnership
public and private organisations. accounts: an introduction
Chapter 38 Accounting for
limited liability companies
Chapter 39 Accounting for
cooperatives
2. Identify the types of Types of limited liability companies, Chapter 33 Receipts and
limited liability companies, cooperatives (for example, Credit Union, payments accounts and
co‐operatives and non‐ Agricultural Societies) and non‐profit income and expenditure
profit organisations organisations. accounts
Chapter 34 Partnership
accounts: an introduction
Chapter 38 Accounting for
limited liability companies
Chapter 39 Accounting for
cooperatives
3. Outline the advantages Advantages and disadvantages of limited Chapter 38 Accounting for
and disadvantages of a liability companies. limited liability companies
limited liability company
4. Describe the various Methods of raising capital – equity Chapter 34 Partnership
methods of raising capital (preference and ordinary shares), debt accounts: an introduction
available to limited (debentures, bank loans). Chapter 35 New Partners:
liability companies and co‐ Shareholders’ equity: entries on admission,
operatives Elements of shareholders’ equity: share goodwill and premiums
capital, reserves.
5. Identify the various Types of shares; rights and privileges of Chapter 34 Partnership
types of shares and the owners of each type of share. accounts: an introduction
rights of the owners of Chapter 35 New Partners:
each type of share entries on admission,
goodwill and premiums.
6. Prepare journal entries Journal entries to record capital. Chapter 38 Accounting for
to record the issue of limited liability companies
shares and debentures
7. *Calculate dividend *Calculation of dividend payments. Chapter 38 Accounting for
payments for various limited liability companies
types of shares

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 8. *Appropriate profits Appropriation of profits (dividends and Chapter 38 Accounting for
between dividends and reserves). limited liability companies
reserves
9. *Prepare the final (a) Final accounts of limited liability Chapter 38 Accounting for
accounts of limited companies. limited liability companies
liability companies and co‐ (b) Preparation of income statement
operatives showing distribution of surplus.
(c) Preparation of balance sheet.

10. *Analyse performance Calculation and interpretation of Chapter 40 Analysis and

and position using ratios accounting ratios interpretation of accounting
(See Section 5, Specific Objectives 6 and 7). statements
11. *Prepare receipts and Preparation of receipts and payment Chapter 33 Receipts and
payment accounts for accounts only. payments accounts and
non‐profit organisations income and expenditure
accounts

SECTION 10: SECTION 10: MANUFACTURING AND PART 5 Financial statements

MANUFACTURING AND INVENTORY CONTROL of other organisations
INVENTORY CONTROL
1. Distinguish between Elements of cost: direct materials, direct Chapter 37 Manufacturing
direct and indirect costs labour and factory overheads. accounts
2. *Prepare Preparation of manufacturing account Chapter 37 Manufacturing
manufacturing accounts showing: accounts
(a) cost of raw material consumed
(b) prime cost
(c) factory overheads
(d) work in progress
(e) cost of production.
3. *Calculate unit cost of Calculation of unit cost of items produced Chapter 36 Costing principles
items produced Chapter 37 Manufacturing
accounts
4. *Prepare final accounts Preparation of trading, profit and loss Chapter 37 Manufacturing
for a manufacturing account and balance sheet of a accounts
concern manufacturer.
5. *Apply basic costing Basic costing principles, for example, cost‐ Chapter 36 Costing principles
principles plus pricing, absorption costing, mark‐up
pricing.
6. List methods of Methods of inventory valuation: Chapter 30 Inventory
inventory valuation (a) first in, first out (FIFO) valuation
(b) last in, first out (LIFO)
(c) average cost (AVCO).

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 7. *Calculate the value of (a) Calculate the value of closing Chapter 30 Inventory
closing inventory using inventory. valuation
either FIFO or LIFO; AVCO (b) Assess the effect of different methods
of inventory valuation on profit.

SECTION 11: SECTION 11: ACCOUNTING FOR THE PART 6 Accounting for the
ACCOUNTING FOR THE ENTREPRENEUR entrepreneur
ENTREPRENEUR
1. List methods of (a) Employees. Chapter 41 The banking
payment (b) Goods and services. system and payroll
(c) Suppliers. accounting
Methods of payment, for example,
cheques, standing orders, direct deposits
(direct debit), cash, electronic fund
transfer and point of sale (EFTPOS).
2. Identify basic source Use of time cards, time books, electronic Chapter 41 The banking
documents of the payroll clock‐in cards, employee earnings records. system and payroll
accounting
3. *Prepare spreadsheet Preparation of payroll and wage Chapter 41 The banking
to arrive at net pay documents from time cards, computer system and payroll
amounts after deduction records. accounting

4. Identify main Main accounting software used for Chapter 44 Computers and
accounting software used payroll, for example, Quick Books, Peach accounting systems
for payroll Tree Accounting.
5. Distinguish between Statutory and voluntary/non‐statutory Chapter 41 The banking
voluntary and statutory deductions. system and payroll
deductions accounting
6. *Calculate employees’ (a) calculating gross and net pay (wages) Chapter 41 The banking
earnings (b) calculating overtime from employee system and payroll
records accounting
(c) calculation of statutory deductions and
non‐statutory deductions, for example,
income tax, social security and
mortgage.
7. *Prepare cash flow Preparation of simple cash flow projection Chapter 43 The business plan
projections within a six‐ and outflow. and cash flow projections
month period Inflows: sales, owners’ equity, cash,
grants, surplus cash/profit (by month four
or five).
Outflows: overhead expenses– utilities,
wages and salaries, transportation (and
other expenses that the business may
incur).

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 8. *Prepare sales and Preparation of simple sales and Chapter 43 The business plan
production budgets for a production budgets (sale targets, and cash flow projections
three‐month period production costs, production inputs).

9. *Use accounting Preparation of a simple business plan for a Chapter 42 Single entry and
knowledge and skills to small project, for example, rearing incomplete records
prepare a simple business chickens, farming cash crops, craft. Chapter 43 The business plan
plan and cash flow projections

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