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Home Tuition Scotland is Edinburgh, Lothian and Borders largest home tuition provider. Since 1994, we’ve been preparing Accounting students for Standard Grade Accounting exams, Intermediate Accounting exams, National 4 Accounting exams, National 5 Accounting exams and Higher Accounting exams.

Our expert Accounting tutors provide one-to-one Accounting tuition in your own home, at a price you can afford.

Please book today.

Profit and loss and appropriation section of partnership accounts including:
interest on capital
partners’ salaries
share of residual profit

Appropriation section of public limited company including:
final payment of ordinary and preference share dividend
treatment of retained profits

Preparation of balance sheets in line with current accounting practice.
Financed by section of balance sheets to include:
For partnerships
current and capital account balances for partnerships at end of financial year
For plc
capital and revenue reserves including ordinary and preference shares, retained profits

Final Accounts of non profit-making organisations
Calculation of accumulated fund at start.

Receipts and payments account.
Income statements from fundraising activities.
Income and expenditure account to include:
incomes and profits — subscriptions adjusted for accruals and prepayments at end of year
treatment of expenses — prepayments and accruals at end of year
calculation of depreciation of fixed assets using straight line method
calculation of surplus or deficit
preparation of balance sheet including adjustment for surplus or deficit at the end of the year

Accounting Ratios
Calculation and interpretation of ratios:
Profitability Ratios
return on capital employed
gross profit ratio
net profit ratio
Liquidity Ratio
current ratio
Efficiency Ratios
expense ratio (individual or total)
rate of stock turnover
average stock
debtors’ collection period
creditors’ payment period
fixed asset turnover
Comment on performance for two consecutive financial periods.
Inter-firm and Intra-firm evaluation of business performance.
Use of accounting ratios to prepare simple forecast trading and profit and loss accounts.

Role of the management accountant
Duties, scope and responsibilities of the Management Accountant.
Classification of calculation of costs
Identification of variable/direct costs and fixed/indirect.
Recording and calculation of costs of material, labour and overheads.
Standard procedures for controlling stock — including inventory control cycle, wage and overhead costs.
Documents required for inventory control cycle: purchases requisition, requisition order, stock record card, bin card, goods received note.
Preparation of stock record cards.
Valuing issue of stock at First in, First out (FIFO) and Last in, First out (LIFO).
Wage costs calculated on time rate, piece, rate, bonus rate and overtime rate.
Use of clock cards, time sheets and job cards.
Overhead analysis statements — allocation, apportionment and re-apportionment of service costs centres.

Allocation
Apportionment based on floor area; number of employees, value of fixed assets, labour hours and machine hours.
Re-apportionment of costs from a service cost centre to a production cost centre using basis of apportionment given.
Calculation and application of overhead absorption rates based on direct labour hours, machine hours, output units.

Qualified Accounting teachers at all levels across the Edinburgh, East Lothian, Westlothian, the Borders and Falkirk areas. Home Tuition Scotland can help your child achieve Accounting exam success.

Please book today.