SA · SACE BoardQ&A
AccountingQ&A by dot point
A short Q&A bank for every SA Accounting syllabus dot point. Each question and answer is drawn directly from our worked dot-point page, so you can scan key concepts before opening the long-form answer.
Topic 1: Preparing and Presenting Accounting Information
- Prepare balance day adjustments for accruals, prepayments, depreciation and doubtful debts to produce accurate final reports0Q&A pairs
- Prepare and present the income statement, balance sheet and cash flow statement for a business0Q&A pairs
- Record the goods and services tax on sales and purchases using source documents and report the net GST liability0Q&A pairs
- Record inventory under perpetual and periodic systems and value closing inventory using the FIFO cost flow0Q&A pairs
- Record business transactions through journals and post them to ledger accounts to prepare a trial balance0Q&A pairs
- Apply the accounting equation and the rules of double-entry to analyse the dual effect of business transactions0Q&A pairs
Topic 2: Analysing and Interpreting Financial Information
- Calculate and interpret efficiency and financial stability ratios to evaluate asset management and gearing0Q&A pairs
- Apply horizontal, vertical and trend analysis to compare financial statements over time and within a period0Q&A pairs
- Interpret financial information using trend analysis, benchmarking and the limitations of the data to evaluate performance0Q&A pairs
- Calculate and apply profitability and liquidity ratios to evaluate the performance and position of a business0Q&A pairs
Topic 3: Decision Making for a Business
- Prepare and use budgets, especially the cash budget, to plan, control and make decisions for a business0Q&A pairs
- Apply cost-volume-profit analysis to calculate the break-even point and inform pricing and output decisions0Q&A pairs
- Explain and reconcile the difference between profit and cash flow to manage the financial sustainability of a business0Q&A pairs
- Identify relevant costs and apply them to short-term decisions such as special orders and make-or-buy0Q&A pairs
Topic 4: Applying Accounting Concepts
- Explain the key accounting principles and ethical responsibilities that underpin reliable financial reporting0Q&A pairs
- Apply accounting concepts, principles and analysis to new and unfamiliar business situations to recommend decisions0Q&A pairs
- Distinguish business structures and explain how the regulatory framework influences accounting activities0Q&A pairs