Assets, liabilities and capital, and the accounting equation that always balances.
The rules of debit and credit, T-accounts, and recording transactions twice.
Preparing a trial balance and the errors it does and does not reveal.
Cost of sales, gross profit and profit for the year.
Classifying assets and liabilities and preparing the balance sheet.
Straight-line and reducing-balance depreciation, accruals, prepayments and irrecoverable debts.
Profitability and liquidity ratios and how to interpret them.
The books of prime entry, control accounts, the bank reconciliation and accounting concepts.