Double Entry System

Firstly, you were presented with a photostory explaining what a double entry system is, it's purpose and related terms. An example of a simple transaction was also shown via the photostory.  The following questions were asked to see what you learned from the presentation:

1. What is a double entry system?

2. What is an assest?

3. What is capital?

4. What is liability?

From what you understood, you were then asked to carry out a role play demonstration of the double entry system transaction using a method of exchanging goods and services using books as the goods and paper as money. During the role play you were also asked  the make comparisons between decrease and increase in asset, liability and capital.

After the role play you you were shown a video to further explain the rules and principles of the double entry system. 

 For individual practice you were given another transaction to complete in your books.