Q1: Why should I read the Study Guide in our unit?
Q2: Who is Luca Pacioli? And why should I care?
Q3: How is the fact men usually have clothes with buttons on the right, and women usually have buttons on the left, relevant to why we have double-entry accounting today?
Q4: Is bookkeeping and double-entry accounting based on a business model? If so, why is it important we understand what this business model is?
Q5: In accounting, what are journals and ledgers?
Q6: Now that accounting is computerised, do we still use journals and ledgers?
Q7: What is the proprietorship concept?
Q8: Why do we have ‘debits’ and ‘credits’ in accounting? And what do ‘debits’ and ‘credits’ mean?
Q9: What are the five elements of accounting? Define each element.
Q10: What is accrual accounting?
Q11: What is the extended fundamental accounting equation?
Q12: In the Study Guide Chapter 1 Section 1.4, there are three things to memorise. What is the ‘first thing to memorise’?
Q13: What is the ‘second thing to memorise’?
Q14: What is the ‘third thing to memorise’?