The Training Place Blog

  Michael Jordan, former American professional basketball player is deemed to be the greatest basketball player of all time as declared on the official NBA website. Jordan joined the Bulls in 1984 as the third overall draft pick, and quickly emerged as a league star, entertaining crowds with his prolific scoring while gaining a reputation … Read More

Let’s talk some more on the movement of money in the cash book?  Dr- Receipts  Cr- Payments    When money is received the bank balance increases and when money is paid out, the bank balance reduces. J   Simple hey!!!    Let’s see how you get on with this simple scenario:    Where there is an opening credit bank balance … Read More

 How does an Accountant stay out of debt?   He learns to act his wage!!!    Cash flow management and budgeting skills are vital skills acquired in the course of studies and applied into our lives.   

    We pay tribute to Dame Barbara Windsor (born Barbara Ann Deeks on 6 August 1937) and died on 10 December 2020 aged 83. She was born in Shoreditch, London and became a popular English actress ending a successful career playing Peggy Mitchell in the BBC One soap opera EastEnders for over 16 years … Read More

ANDY MURRAY & VARIANCES                 Andy Murray, born in May 1987, started playing tennis at 3yrs old and at 5yrs he started competing in tournaments and went pro in 2005. In 2006, he became British no. 1 tennis player and then world no. 1 tennis player in 2016. … Read More

                        Joe Biden, 2020 US President Elect twitted “here’s the deal: because President Trump refuses to concede and is delaying the transition, we have to fund it ourselves and need your help. If you’re able, chip in to help fund the Biden-Harris transition.” Emily … Read More

Do you understand the movement of money in the cash book? Dr- Receipts Cr- Payments When money is received the bank balance increases and when money is paid out, the bank balance reduces. Simple hey!!! Lets see how you get on with this simple scenario: · Where there is an opening debit bank balance of … Read More

ALLOWANCE FOR DOUBTFUL DEBT: Scenario: You work for Mandels Ltd and the debtors balance at the end of the year is £48,100 and the company makes a general allowance for doubtful debt of 2%. Where there is an existing allowance for doubtful debt of £1,406 at the beginning of the year, what will be the … Read More

DOUBLE ENTRY FOR BEGINNERS SALES SCENARIOS- PART 3 Financial Accounts are built on the double entry principle which states that:  FOR EVERY DEBIT ENTRY, THERE MUST BE A CORRESPONDING CREDIT ENTRY; So, in posting any transaction into your accounts, you always need to identify which account needs to be debited and which account needs to … Read More

DOUBLE ENTRY FOR BEGINNERS – PART 2  SALES SCENARIOS- PART 2 Financial Accounts are built on the double entry principle which states that: FOR EVERY DEBIT ENTRY, THERE MUST BE A CORRESPONDING CREDIT ENTRY; So, in posting any transaction into your accounts, you always need to identify which account needs to be debited and which … Read More