Topic-by-topic revision aligned to the KASNEB Financial Accounting syllabus. Each topic page has full revision notes, sample exam-style questions, and a free practice CTA. Reviewed by a Kenyan CPA before being marked verified.
The accounting equation, users of accounting information, branches of accounting, and the regulatory environment for financial reporting in Kenya.
The double-entry principle, debits and credits, the books of original entry, and the ledger.
Sales day book, purchases day book, returns books, cash book, petty cash book, the journal, and preparation of the trial balance.
Reconciling the cash book balance with the bank statement balance, identifying timing differences, errors, and unrecorded items.
Sales ledger and purchases ledger control accounts, locating errors using control accounts, and clearing the suspense account.
Capitalisation of cost, depreciation methods (straight-line, reducing-balance, sum-of-digits, units-of-production), disposal of assets, and revaluation.
Inventory cost formulas (FIFO and weighted average), the lower-of-cost-and-NRV rule, periodic vs perpetual systems, and the impact on profit.
Year-end adjustments (accruals, prepayments, bad debts, allowance for doubtful debts) and preparation of the statement of profit or loss and statement of financial position.
Partnership Act 2012 default rules, capital and current accounts, profit and loss appropriation, admission and retirement of partners, and goodwill.
Reconstructing financial statements from incomplete records using the accounting equation, mark-up and margin, and control account techniques.
Receipts and payments accounts, income and expenditure accounts, accumulated fund, and manufacturing accounts (prime cost, factory overheads, cost of production).
Share capital and reserves, simple final accounts of a limited company, and a basic statement of cash flows (IAS 7) using the indirect method.