Description
Alan Sangster is a Professor of Accounting History at the University of Aberdeen and was previously a Professor of Accounting at universities in the UK, Brazil, and Australia. Lewis Gordon is Senior Lecturer in Accounting at the University of Liverpool and has extensive experience teaching Financial Accounting at undergraduate and professional levels. Frank Wood was the original author of this text and remains one of the world’s best-selling authors of accounting textbooks. Part 1 Introduction to financial accounting The background and the main features of financial accounting Recording transactions Inventory The effect of profit or loss on capital and the double entry system for expenses and revenues Balancing-off accounts The trial balance Multiple-choice questions: Set 1 Part 2 The financial statements of sole proprietors Income statements Balance sheets Income statements and balance sheets: further considerations Accounting concepts and the conceptual framework Part 3 Books and transactions Books of original entry and ledgers Cash books The analytical petty cash book and the imprest system Accounting for sales, purchases and returns The journal Value added tax (VAT) Multiple-choice questions: Set 2 Part 4 Adjustments to financial statements Maths for accounting Inventory valuation Bad debts, allowances for doubtful debts, and allowances for prompt payment discounts Capital expenditure and revenue expenditure Depreciation Accruals and prepayments Multiple-choice questions: Set 3 Part 5 Controls, checks and errors Control accounts Bank reconciliations Errors not affecting the balancing of the trial balance Suspense accounts and errors Single entry and incomplete records Scenario questions Part 6 Further accounting procedures Introduction to the statement of cash flows Receipts and payments accounts and income and expenditure accounts Joint ventures Multiple-choice questions: Set 4 Part 7 Accounting for partnerships Partnerships Goodwill for sole proprietors and partnerships Revaluation of partnership assets Partnership dissolution Part 8 Accounting for companies Introduction to accounting for companies The published financial statements of companies The statement of cash flows for companies Part 9 An introduction to financial analysis Accounting ratios Analysis and interpretation of financial statements Part 10 Accounting today Accounting today Multiple-choice questions: Set 5 Appendices Answers to review questions Answers to multiple-choice questions Glossary Index Credits
