SPM Accounting Format Library
Every account, journal, cash book and financial statement format in SPM Prinsip Perakaunan: the blank format with headings as in the DSKP, what each part is for, one filled example and common layout errors.
One-hour paid trial · Same-day reply · from RM50/hr
Form 4
4. Books of Prime Entry
Purchases Journal Format
The Purchases Journal is a special journal in the books of prime entry used to record only credit purchases of goods meant for resale. It is the first record made before the total is posted to the debit of the Purchases account in the ledger at the end of the period. Cash purchases and purchases of non-trade assets are not recorded here.
ViewGeneral Journal Format
The General Journal is one of the books of prime entry that records transactions unsuitable for the special journals, such as opening entries, credit purchase or sale of non-current assets, correction of errors and closing entries. It shows the account to be debited and the account to be credited together with the amounts and a short narrative, before the transaction is posted to the ledger.
ViewSales Journal Format
The Sales Journal is a special journal within the Books of Prime Entry that records only credit sales of trade goods. It serves as a book of prime entry before transactions are posted to the ledger, where each debtor is debited individually and the total is credited to the Sales Account at the end of the period.
ViewPurchases Returns Journal Format
The Purchases Returns Journal is a special journal in the Books of Prime Entry that records all returns of goods to suppliers arising from credit purchases. It is used when a business returns damaged, wrongly delivered or unsatisfactory goods, supported by the Credit Note received from the supplier. The total of this journal is transferred to the credit side of the Purchases Returns Account in the ledger.
ViewSales Returns Journal Format
The Sales Returns Journal is a special journal that records only trade goods returned by debtors (credit customers). It is used when a business receives back goods it had sold on credit, and its source document is the credit note issued by the business. The monthly total of this journal is posted to the debit side of the Sales Returns Account in the ledger.
ViewTwo-Column Cash Book Format
The Two-Column Cash Book is a book of prime entry that records all cash receipts and payments together with bank transactions in one book. It has two amount columns (Cash and Bank) on each side and acts at the same time as a book of prime entry and a ledger (the Cash account and the Bank account). It is used when a business keeps both cash in hand and a bank account, and it also records contra entries between cash and bank.
ViewThree-Column Cash Book Format
The Three-Column Cash Book is a book of prime entry that also serves as a ledger account, recording all cash and bank receipts and payments together with cash discount columns. It is used when a business deals in both cash and cheques, and it replaces the Cash Account and Bank Account in the ledger. The discount columns are memorandum columns that are only totalled and then posted to the Discount Allowed and Discount Received accounts.
ViewPetty Cash Book Format (Imprest System)
The Petty Cash Book (Imprest System) is a book of prime entry that records all small, frequent petty payments such as postage, stationery and fares. Under the imprest system the petty cashier is given a fixed float at the start of a period, and at the end of the period the amount spent is reimbursed so the float is restored to its original amount. It reduces the load on the main Cash Book and classifies petty spending by type through analysis columns.
View7. Financial Statements of a Sole Proprietorship without Adjustments
Trading Account Format
The Trading Account format is the first part of the income statement and calculates a business's gross profit for a financial period. It is used when preparing the financial statements of a sole proprietor to deduct the cost of sales from net sales. It is prepared at the end of the financial period after the revenue, expense and inventory accounts have been closed.
ViewProfit and Loss Account Format
The Profit and Loss Account (statement format) continues from the gross profit transferred from the Trading Account, adds other income and deducts expenses to arrive at the net profit for a financial period. It is used when preparing the Financial Statements of a sole proprietor without adjustments, to close off the revenue and expense accounts at the end of the period.
ViewIncome Statement Format
The Income Statement is a financial statement that combines the Trading Account and the Profit and Loss Account into one vertical format to compute the gross profit and then the net profit of a sole proprietorship. It is prepared at the end of the financial period after revenue, expense and inventory accounts are closed, and it feeds directly into the Statement of Financial Position.
ViewStatement of Financial Position
The Statement of Financial Position shows the assets, liabilities and owner's equity of a business at a particular date, that is at the end of the accounting period. It is prepared after the Trading and Profit and Loss Account of a sole proprietorship to report the sources of funds (equity and liabilities) and the uses of funds (assets) of the business.
View8. Adjustments at the Balance Date and Preparation of Sole Proprietorship Financial Statements
Income Statement with Adjustments Format
An Income Statement with adjustments shows a sole proprietor's gross profit and net profit after income and expenses have been adjusted to the accrual basis at the balance date. It is prepared at the end of the accounting period, once the Adjusted Trial Balance is ready, whenever there are adjustments such as accrued and prepaid expenses, depreciation, bad debts and provision for doubtful debts. It is the basis for judging the business's performance for the period.
ViewAdjusting Journal Entries Format
Adjusting journal entries are made in the General Journal to record period-end adjustments before the financial statements are prepared. They are used to record depreciation, bad debts, provision for doubtful debts, and accrued or prepaid expenses and income so that the accounts follow the accrual basis. Each entry shows the account debited, the account credited, and a short narration.
ViewForm 5
2. Incomplete Records
Statement to Determine Profit (Incomplete Records)
The Statement to Determine Profit is used in the Incomplete Records topic under the Comparison Method to find net profit or net loss when a business does not keep complete double-entry records. It is based on the accounting equation, comparing Closing Capital with Opening Capital and adjusting for drawings and additional capital. It is applied when only opening capital, closing capital, drawings and additional capital are known.
ViewStatement of Affairs Format (Incomplete Records)
The Statement of Affairs is used in Incomplete Records to estimate capital at the beginning or end of a period when a business does not keep a full double-entry system. All known assets and liabilities are listed, and capital is derived as the balancing figure (Assets − Liabilities). Under the Comparison Method, the opening and closing capital obtained from two such statements are compared to calculate the profit or loss for the period.
View3. Accounting for Internal Control
Debtors Control Account Format
The Debtors Control Account is a summary account that records the total of all transactions with debtors for a period, and its balance should equal the sum of all balances in the Debtors Ledger. It is used as an internal control tool to detect posting errors and verify the accuracy of the Debtors Ledger without adding up each individual debtor's account.
ViewCreditors Control Account Format
The Creditors Control Account is a summary account that records the total of all transactions with trade creditors for a period. It is used as an internal control tool to verify the accuracy of the creditors (purchases) ledger and to detect errors. Its balance should agree with the total of the individual balances in the suppliers' ledger.
ViewBank Reconciliation Statement Format
A Bank Reconciliation Statement reconciles the balance shown in the Cash Book (Bank column) with the balance shown on the Bank Statement so that both records agree. It is prepared after the Cash Book has been updated, usually at month end, to identify causes of difference such as unpresented cheques and uncredited deposits. It also serves as an internal control tool over cash and bank.
View4. Accounting for Partnerships
Profit and Loss Appropriation Account Format
The Profit and Loss Appropriation Account is an extension of the Profit and Loss Account for a partnership that shows how the net profit is shared among the partners. It is used to record interest on capital, partners' salaries and interest on drawings before the remaining profit is divided according to the profit-sharing ratio.
ViewPartners' Capital Account Format
The Partners' Capital Account is a ledger account that records each partner's permanent capital under the Fixed Capital Method. It is used to record opening capital balances, additional capital introduced and capital withdrawn by partners. It is prepared together with the Current Account when a firm uses the fixed capital method, and its balance is shown under Owner's Equity.
ViewPartners' Current Account Format
The Partners' Current Account is a ledger account that records dealings between the partnership and each partner under the fixed capital method, kept separate from the Capital Account. The credit side records partners' salaries, interest on capital and share of profit, while the debit side records drawings, interest on drawings and share of loss. Its closing balance is carried to the Statement of Financial Position under Owner's Equity.
ViewPartnership Statement of Financial Position Format
The Partnership Statement of Financial Position shows a partnership's assets, liabilities and owners' equity on a particular date. It is prepared at the end of the accounting period after the Profit and Loss Account and the Profit and Loss Appropriation Account. Its distinctive feature is that the equity section shows each partner's capital and current account separately.
View5. Accounting for Companies Limited by Shares
Company Income Statement Format
The Income Statement of a company limited by shares shows the company's profit or loss for an accounting period together with the appropriation section that distributes the profit after tax to dividends and retained profit. It is prepared at the end of the accounting period to determine the retained profit carried to the Statement of Financial Position, taking into account company-specific expenses such as directors' remuneration, auditor's fee and debenture interest.
ViewCompany Statement of Financial Position Format
The Company Statement of Financial Position shows the assets, liabilities and equity of a company limited by shares on a particular date. It is prepared at the end of the accounting period to report shareholders' equity (ordinary share capital, preference share capital and retained profit) after share issues and cash dividends are accounted for. In this format, Total Assets must equal Total Equity and Liabilities.
View6. Accounting for Clubs and Societies
Receipts and Payments Account Format
The Receipts and Payments Account is a summary of a club or society's Cash Book, recording all cash received and paid during the accounting period. It is prepared at the year-end to show the inflow and outflow of money together with the closing cash or bank balance. It serves as the basis for preparing the Income and Expenditure Account.
ViewIncome and Expenditure Account Format
The Income and Expenditure Account is prepared by clubs and societies (non-profit organisations) to determine the surplus or deficit for an accounting period. It follows the accrual basis, so only the revenue income and revenue expenditure for the current year are recorded, not cash receipts and payments. It replaces the Profit and Loss Account used by profit-oriented businesses.
View