Cash, Bank, Tax, Payroll and Reconciliations
Bank and control-account reconciliations, petty cash, sales tax, payroll and receivable/payable records.
How to study the CIMA Certificate
Secure each subject's concepts and calculations before using short business scenarios for application. Static study assets do not reproduce every computer-marked interaction or combine the four subjects into one official examination.
Core concepts
Concept 1
Prepare and explain reconciliations.
Exam cue: Separate book adjustment from timing difference.
Concept 2
Record sales tax and payroll.
Exam cue: Record tax collected as a liability.
Concept 3
Identify errors through control accounts and bank evidence.
Exam cue: Reconcile ledger control with subsidiary detail.
Risk pitfalls and guardrails
Adjusting the bank statement for book errors.
Guardrail: Do not combine subjects, treat the 0-150 scale as a percentage, or rely on a remembered label without checking timing, units, assumptions and facts.
Treating payroll deductions as employer expense twice.
Guardrail: Do not combine subjects, treat the 0-150 scale as a percentage, or rely on a remembered label without checking timing, units, assumptions and facts.
Confusing trade discount with settlement discount.
Guardrail: Do not combine subjects, treat the 0-150 scale as a percentage, or rely on a remembered label without checking timing, units, assumptions and facts.
Memory anchors
Bank reconciliation
A bank reconciliation explains differences between bank records and the cash book.
Sales tax
Sales tax collected from customers is generally owed to the tax authority.
Imprest
Under imprest, petty cash is reimbursed to restore an authorised float.
Checkpoint rule
Do the check-up only after you can summarize each concept in one sentence and identify one dangerous pitfall from memory.
Knowledge Check (after reading)
Short check-up to confirm understanding of this module.
Check-up Questions
A bank statement shows a £250 bank charge not yet in the cash book. What adjustment is required?
A customer's direct deposit appears on the bank statement but not the cash book. What is the entry?
Answer all questions to submit.
Next step personalized recommendations
Continue learning
Move forward only after this module is stable.
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