Chapter 5: Double Entry Accounting System

Chapter Learning Objectives

The learning objectives of the chapter are:

• Introducing the double entry accounting systems to participants.
• Guide participants on how to post transactions to ledger accounts.
• Explain to participants on how to prepare trial balance.

Learning Outcome

At the end of chapter the participants will be able to explain how double entry accounting system operates. The participants will be able to prepare and balance various ledger accounts but also posting to the trial balance.

Learning Activities

Individual Activities

• An assignment will be given, requiring the participant to enter transactions into various ledger accounts and post the totals to the trial balance.

Sessions and Time Allocated

6. Double entry accounting system: 1 hour
7. Recording in various ledger accounts: 1 hour
8. Balancing up ledger accounts: 1 hour
9. Preparing trial Balance: 30 minutes