• Name the account: who is the account for and what year? If the title is not given, then make sure to include one, e.g. VAT A/C.
• Make sure to include dates DD/MM/YYYY. The year can be included in each column or at the top of the date column.
Date 2022 1/2 2/2 3/2
Date
1/2/2022 2/2/2022 3/2/2022
• Be careful when doing calculations – always show your working and use a calculator. Double check figures before filling them into the box provided.
• Practice makes perfect! Practise the accounts to become familiar with them. • Plan your timing and move onto the next question when the allocated time is up.
1
1 CT SO DD
B/D C/D DR CR
3 IR
ATM Automatic teller machine
POS CAR
Credit transfer Standing order Direct debit
Brought down Carried down Debit – left side Credit – right side
Interest rates
MNC Multinational companies TNC CE
CAP CFP
3 D S P Q E
Transnational companies European quality mark
Common Agricultural Policy Common Fishery Policy
Demand Supply Price
Quantity Equilibrium
2 CO2 TU
Carbon monoxide Trade union
R&D Research and development
WRC Workplace Relations Commission
472 2
APR AER
EU
AIB BOI CU
Point of sale
Compound Annual Rate
Annual Percent Rate
Annual Equivalent Rate
European Union Allied Irish Bank Bank of Ireland Credit union
1 ECB PRSI
European Central Bank
Pay-Related Social Insurance
PAYE Pay As You Earn
USC Universal social charge
VAT LPT
1 VRT CAT
Important Abbreviations
Strands 1 2 3 CGT
Value-Added Tax Local Property tax
PPSN Personal Public Service Number
Vehicle Registration Tax
Capital Acquisition Tax
Capital Gains Tax
CCPC Competition and Consumer Protection Commission