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Grade 9 Poa

The document discusses books of original entry used in accounting. It lists the journal, sales day book/journal, purchases day book/journal, return outward book, return inwards book, and cash book as the main books used to initially record transactions. A petty cash book is also mentioned for recording small payments.

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Tishauna
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33 views2 pages

Grade 9 Poa

The document discusses books of original entry used in accounting. It lists the journal, sales day book/journal, purchases day book/journal, return outward book, return inwards book, and cash book as the main books used to initially record transactions. A petty cash book is also mentioned for recording small payments.

Uploaded by

Tishauna
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Books Of Original Entry

These are books in which the transaction is first entered:

The Journal - This is used to record items that are much lass
common and sometimes complicated and are not recorded in the
other book of original entries.

Sales Day Book/ Sales Journal- A book used for listing sales
invoice .

Purchases Day Book/ Purchases Journal- This is similar to the


sales day book but contains list of purchase invoice received
from the suppliers of goods and services.

Return Outward Book/ Purchases return Day Book or Journal-


This is used to record goods return to the supplier.
Return Inwards Day Book/ Sales Returns Day Book or Journal-
This is used to list any return made by customers which would
lead to a credit note being issued to them.

Cash Book- This is another book of original entry used to enter


cash and bank receipts and payments.

Petty Cash Book- A cash book used for making small


( petty )payments details of which are entered from petty cash
vouchers supported if possible by a receipt.
Application of ethical principles
The following ethical principles should be adhered to in the
workplace:
1. Treat people with respect and courtesy
2. Act responsibly and honestly
3. Ensure confidentiality- confidentiality means respecting
someone’s privacy and abstaining from sharing personal
information unless given permission.
4. Be trustworthy
5. Comply with legal requirements and organization laws and
regulations.
6. Avoid conflict of interest- this may arise when a situation
that benefits an employee affects the company.

Inappropriate application of the ethical principles


1. Not working in the best interest of your employer
2. Being dishonest and untrustworthy
3. Disregarding confidentiality
4. Undermining colleagues- making your co- worker feel less
confident.
5. Intimidation or harassment of colleagues to gain an advantage
in a particular area
6. Accepting bribes or gifts in return for a favor

Result of inappropriate application of accounting principles

Penalties-
1. Loss of trust and integrity by peer group
2. Disciplinary action by the professional body
3. Instant termination of employment
4. Prosecution leading to fines, imprisonment
5. Inability to gain further employment
6. Application for future financial loan rejected

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