Control Accounts, Journals and the Banking System (CJBS)
The exam consists of 12 tasks and it's 2 hours long:
- Task 1: Prepare journals for opening entries
- Task 2: Prepare journals for payroll transactions
- Task 3: Prepare journals for irrecoverable debts written off and identify types of error
- Task 4: Prepare journals for correction of errors
- Task 5: Balance the trial balance and prepare journals for correction of errors
- Task 6: Post journal entries to ledger accounts
- Task 7: Re-draft the trial balance
- Task 8: Update the cash-book
- Task 9: Prepare a bank reconciliation statement
- Task 10: Prepare and reconcile sales/purchases ledger control accounts
- Task 11: Prepare a VAT control account and verify the balance
- Task 12: Understand the banking system and the importance of document retention
What to look out for in the exam
Previous knowledge required of Processing Bookkeeping Transactions (PBKT)
In this unit you will need to develop the necessary knowledge and skills to use the journal to record a variety of transactions. You will need to understand how to process transactions through the ledgers and carry out reconciliation of the sales and purchases ledger control accounts as well as the VAT control account.
Other journals entries required will be irrecoverable debts, correcting errors, suspense account posting and the processing of wages.
You will then be expected to redraft the initial trial balance following the adjustments made. There is also a requirement to understand the banking system, the knowledge to perform bank reconciliations and the importance of retaining banking documents for the required period.
To give you the best chance of passing, we recommend that you join a Kaplan course. There are various options available: Classroom, Live Online, and Distance Learning. Alternatively, you could purchase separate Kaplan Publishing study text and or revision kit.