Introduction to Financial Accounting

Höfundar: Anne Marie Ward; Andrew Thomas; Mike Farrell (Útgáfa: 10)
Introduction to Financial Accounting

Kaup valmöguleikar

The 10th edition of Introduction to Financial Accounting provides comprehensive coverage of all the fundamental accounting techniques and practices required by the IFRS, IAS and the Conceptual Framework for Financial Reporting. The authors bring the subject to life with stimulating discussions that encourage strategic thinking about the influence that accounting has on economic decision-making and its impact on society.

This new edition embraces a contemporary approach whilst retaining its renowned concise and student-friendly chapters. Packed with real-world examples, practical content, worked examples and exercises, this essential resource keeps students engaged while enhancing their understanding of complex accounting theory. Key features include:  oCoverage of the latest developments in International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and the Conceptual Framework for Financial Reporting.

oA new chapter on Public Accountability giving background on who accountants should prepare accounts for and what should be included. oNew accounting insights to provide practical examples of how issues are handled in real-world scenarios. oNew contemporary issues in accounting to make students aware of the emerging issues and innovations that contemporary accountants must consider. oUpdated real world examples highlighting European and International accounting scenarios, demonstrating the tangible impact of accounting theory.

oLearning activities, worked examples and end-of-chapter assessment material that offer students opportunities to practice key concepts and techniques. Anne Marie Ward is a Professor of Accounting in the Department of Accounting, Finance and Economics at Ulster University. She is also a qualified Chartered Accountant and previously taught professional courses for Chartered Accountants Ireland for 15 years.

Nánar um bókina

Útgefandi
McGraw-Hill UK
ISBN
9781526849908
Print ISBN
9781526849878
Format
ePub
Útgáfa
10
Höfundar
Anne Marie Ward; Andrew Thomas; Mike Farrell
Tungumál
English
Útgefið
2024-04-05
Prent takmörkun á líftíma
100
Prent takmörkun
2
Afritunar takmörkun
2

Kaflar

  • Table of Contents and Preface
  • Half Title
  • Financial Accounting
  • Title Page
  • Financial Accounting
  • Copyright Page
  • Dedication
  • Brief Table of Contents
  • Detailed Table of Contents
  • About the Authors
  • Preface to the Tenth Edition
  • What’s new
  • Aim of the text
  • Acknowledgements
  • Guided Tour
  • Transform learning with Connect®
  • The Three Pillars of Connect®
  • Connect® for Finance
  • Excel Simulations
  • Algorithmic Problem Sets
  • Calculation Questions
  • Case Studies
  • Smarter studying with Smartbook
  • The ReadAnywhere App
  • Create & Custom Publishing
  • Open University Press: Improve your Study, Research & Writing Skills
  • Special Offer!
  • Chapter 1: Entities and financial reporting statements (including the nature and objectives of financial accounting)
  • Part One: The framework of accounting
  • Learning objectives
  • 1.1 Introduction and history of accounting
  • 1.2 Contemporary Accounting
  • 1.3 The nature and functions of financial accounting
  • 1.4 The objectives of an appropriate accounting system
  • The recording and control of business transactions
  • To maintain accuracy in recording
  • To meet the requirements of the law
  • To present final financial statements
  • To present other financial reports and analyses
  • To facilitate the efficient allocation of resources
  • To provide advisory services to management
  • 1.5 Accounting language
  • Statement of financial performance terminology
  • Statement of financial position terminology
  • 1.6 Annual report and financial statements
  • Performance reporting
  • Financial position
  • Ownership reporting
  • Cash performance reporting
  • Reports from management
  • 1.7 Types of entity
  • 1.8 The regulatory framework of accounting
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • References
  • Chapter 2: Financial reporting: institutional framework and standards
  • Learning objectives
  • 2.1 Introduction
  • 2.2 The institutional framework for setting IFRSs
  • 2.3 The International Accounting Standards Board (IASB)
  • 2.4 SME Implementation Group
  • 2.5 The IFRS Foundation Trustees
  • 2.6 The Monitoring Board
  • 2.7 The IFRS Interpretations Committee
  • 2.8 The IFRS Advisory Council
  • 2.9 International Sustainability Standards Board
  • Development of the ISSB
  • 2.10 The standard-setting process
  • 2.11 UK accounting regulation (and the ROI)
  • Introduction
  • The UK institutional framework
  • 2.12 Harmonisation
  • 2.13 International Financial Reporting Standards (IFRSs)
  • Conceptual Framework for Financial Reporting
  • 2.14 IAS 1 – Presentation of Financial Statements
  • 2.15 IAS 2 – Inventories
  • 2.16 IAS 7 – Statement of Cash Flows
  • 2.17 IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors
  • 2.18 IAS 10 – Events after the Reporting Period
  • 2.19 IAS 16 – Property, Plant and Equipment
  • 2.20 IAS 37 – Provisions, Contingent Liabilities and Contingent Assets
  • 2.21 IAS 38 – Intangible Assets
  • 2.22 IFRS 5 – Non-current Assets Held for Sale and Discontinuing Operations
  • 2.23 IFRS 15 - Revenue from Contracts with Customers
  • 2.24 Current issues
  • Summary
  • Key terms and concepts
  • Review questions
  • International Framework
  • UK Framework
  • Websites
  • References
  • Chapter 3: Conceptual frameworks and the qualitative characteristics of financial information
  • Learning objectives
  • 3.1 Introduction
  • The nature of a conceptual framework – an analogy
  • 3.2 Introducing the IASB’s Conceptual Framework
  • Definition and purpose
  • The international framework: scope
  • The international framework: scope restrictions
  • 3.3 The objectives of general purpose financial statements
  • 3.4 Primary users of financial reporting and their information needs
  • Existing and potential investors
  • Lenders
  • Other creditors
  • How financial reporting is meeting the needs of the primary users
  • 3.5 Accrual accounting and financial performance
  • Accrual accounting
  • 3.6 The qualitative characteristics of financial information
  • Relevance
  • Faithful representation
  • Applying the fundamental qualitative characteristics
  • 3.7 Enhancing qualitative characteristics
  • Comparability
  • Verifiability
  • Timeliness
  • Understandability
  • 3.8 The conceptual framework debate, standardization and choice
  • Summary
  • Conceptual framework
  • Qualitative characteristics
  • The conceptual framework debate
  • Key terms and concepts
  • Review questions
  • Required
  • Exercises
  • References
  • Chapter 4: Underpinning assumptions of financial reporting, recognition, measurement and accounting policies
  • Learning objectives
  • 4.1 Introduction
  • 4.2 The objective of general purpose financial statements
  • 4.3 Reporting period assumption
  • 4.4 Going concern concept
  • 4.5 The reporting entity concept
  • 4.6 Recognition
  • Duality concept
  • Matching concept
  • Revenue recognition
  • Recognition: conflict between the qualitative characteristics
  • Balance between benefit and cost
  • 4.7 Measurement bases
  • Selecting a measurement basis
  • 4.8 Presentation and disclosure
  • Money measurement concept
  • Effective communication
  • Classification/aggregation
  • Separate determination concept
  • 4.9 Capital maintenance
  • 4.10 Accounting policies
  • Accounting estimates
  • Selecting accounting policies
  • Changing accounting policies
  • The disclosure of accounting policies and estimation techniques
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • References
  • Chapter 5: Public accountability: a stakeholder perspective
  • Learning objectives
  • 5.1 Introduction
  • 5.2 The limitations of financial statements
  • Classification, aggregation and allocation
  • General-purpose versus specific-purpose
  • 5.3 Public accountability
  • 5.4 Other users of financial reports and their information needs
  • Employees
  • Customers
  • Governments and their agencies
  • The public
  • The analyst-advisor group
  • Competitors and takeover bidders
  • Management
  • 5.5 Corporate social responsibility (CSR)
  • 5.6 Sustainability accounting/reporting
  • Accounting for sustainability issues
  • Summary
  • Key terms and concepts
  • Review questions
  • Required
  • References
  • Chapter 6: Corporate governance, ethics and climate change
  • Learning objectives
  • 6.1 Corporate governance
  • Agency theory (the equity holder and director conflict)
  • The rise in the importance of corporate governance (1990s)
  • Corporate governance, risk and strategic management (current)
  • Which organizations have to comply with the UK Corporate Governance Code?
  • 6.2 Ethics
  • Professional ethics
  • Management ethics
  • 6.3 Climate change
  • Accounting for climate change
  • Climate-related Disclosures (IFRS S2)
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • References
  • Chapter 7: The accounting equation and its components
  • Part Two: Double-entry bookkeeping (recording transactions and the books of account)
  • Learning objectives
  • 7.1 The statement of financial position as an accounting equation
  • 7.2 The accounting equation and profit reporting
  • 7.3 The accounting period and profit reporting
  • 7.4 Revenue expenditure versus capital expenditure
  • 7.5 Measurement (valuation model)
  • 7.6 Strengths and limitations of historical cost in accounting measurement
  • Summary
  • Key terms and concepts
  • Review questions
  • Required
  • Exercises
  • Required
  • Required
  • References
  • Chapter 8: Basic documentation and books of prime entry
  • Learning objectives
  • 8.1 Introduction
  • 8.2 Basic documentation for cash and credit transactions
  • The invoice
  • The debit note
  • The credit note
  • The statement
  • Cash book
  • The receipt
  • 8.3 Books of prime entry
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Chapter 9: Double entry and the general ledger
  • Learning objectives
  • 9.1 The principles of double-entry bookkeeping
  • Bookkeeping versus accounting
  • 9.2 Cash and bank transactions
  • 9.3 General ledger entries for credit transactions
  • Credit sales
  • Credit purchases
  • Purchase returns
  • Receiving funds from credit customers
  • Paying credit suppliers
  • 9.4 Adjustments for drawings and capital introduced
  • 9.5 General ledger account balances
  • Summary
  • Key terms and concepts
  • Exercises
  • Chapter 10: The balancing of ledger accounts and the trial balance
  • Learning objectives
  • 10.1 The balancing of ledger accounts
  • Closing an asset or liability account – the bank account
  • Closing a movement in capital account – the capital introduced account
  • Closing an income or expenditure type account
  • 10.2 The purposes and preparation of a trial balance
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Chapter 11: Credit sales, purchases and journal entries
  • Learning objectives
  • 11.1 Sales and purchase day books and ledgers
  • The sales day book and receivables ledger
  • The purchases day book and payables ledger
  • Sales returns
  • The purchases returns day book
  • 11.2 Journal entries
  • An introduction to journal entries
  • Journal entries: opening entries/takeovers
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Required
  • Required
  • Chapter 12: The cash book and petty cash book
  • Learning objectives
  • 12.1 The cash book
  • 12.2 Petty cash book
  • 12.3 The columnar petty cash book
  • 12.4 The imprest system
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Required
  • Required
  • Chapter 13: The final financial statements of sole traders (introductory)
  • Part Three: Preparing final financial statements for sole traders
  • Learning objectives
  • 13.1 Introduction
  • 13.2 The purpose and structure of statements of financial performance
  • 13.3 Gross profit: inventory and the cost of sales
  • Gross profit and the trading account
  • The cost of sales account
  • 13.4 Accounting for sales returns
  • Recording the initial sales revenue
  • Recording the sales returns
  • Recording the expiry of the right of return
  • 13.5 The purpose and structure of a statement of financial position
  • 13.6 Preparing financial statements from the trial balance
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Additional information
  • Required
  • Additional information
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  • Additional information
  • Required
  • Additional information
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  • Additional information
  • Required
  • Additional information
  • Required
  • Required
  • Chapter 14: Adjustments to financial statements: property, plant and equipment and depreciation
  • Learning objectives
  • 14.1 The nature and types of non-current assets
  • Goodwill
  • Financial assets
  • Property, plant and equipment
  • 14.2 The recognition and valuation of property, plant and equipment
  • Historical cost
  • Revalued amount
  • Impairment of assets
  • Climate change and asset impairment
  • 14.3 The nature of depreciation
  • When might a building not be depreciated?
  • 14.4 Methods of depreciation
  • The straight-line/fixed instalment method
  • The diminishing/reducing balance method
  • The sum of the years’ digits method
  • 14.5 Accounting policy for depreciation
  • 14.6 Accounting for depreciation
  • 14.7 Profits and losses on the disposal of property, plant and equipment
  • Accounting for profit and losses on the disposal of property, plant and equipment
  • 14.8 The depreciation charge in the years of acquisition and disposal: partial year depreciation
  • 14.9 Creative accounting and depreciation
  • Summary
  • Key terms and concepts
  • Review questions
  • Required
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Required
  • Required
  • Required
  • References
  • Chapter 15: Adjustments to financial statements: credit losses and allowances for credit losses
  • Learning objectives
  • 15.1 The nature of, and accounting for, credit losses
  • 15.2 The nature of, and accounting for, allowances for credit losses
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Required
  • Reference
  • Chapter 16: Adjustments to financial statements: accruals and prepayments
  • Learning objectives
  • 16.1 The nature of, and accounting for, accrued expenses
  • 16.2 The nature of, and accounting for, prepaid expenses
  • 16.3 The nature of, and accounting for, income received in advance
  • 16.4 The nature of, and accounting for, accrued income
  • 16.5 Accruals and prepayments, and the preparation of final financial statements from the trial balance
  • 16.6 Further year-end adjustment (inventories of tools, stationery and fuels)
  • 16.7 Further year-end adjustment (company taxation)
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Required
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  • Required
  • Required
  • Chapter 17: Adjustments to financial statements: inventory valuation
  • Learning objectives
  • 17.1 Introduction
  • 17.2 Monitoring inventory
  • 17.3 The valuation of goods for sale and raw materials
  • Accounting policy for valuing inventory
  • 17.4 The valuation of finished goods and work-in-progress
  • Fungible inventory: cost flow assumptions
  • 17.5 FIFO and LIFO compared
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • Additional information
  • Required
  • Required
  • Required
  • Required
  • Required
  • References
  • Chapter 18: The extended trial balance and final financial statements
  • Learning objectives
  • 18.1 Introduction
  • 18.2 The extended trial balance
  • Summary
  • Key terms and concepts
  • Exercises
  • Additional information
  • Required
  • Required
  • Required
  • Additional information
  • Required
  • Additional information
  • Required
  • Additional information
  • Required
  • Additional information
  • Required
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  • Additional information
  • Required
  • Chapter 19: The bank reconciliation statement
  • Part 4: Internal control and check
  • Learning objectives
  • 19.1 The purpose of bank reconciliations
  • 19.2 Preparation of a bank reconciliation
  • The reconciliation procedure
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Required
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  • Required
  • Required
  • Required
  • Additional information
  • Required
  • Chapter 20: Control accounts
  • Learning objectives
  • 20.1 The nature and preparation of control accounts
  • 20.2 The purpose of control accounts
  • Summary
  • Key terms and concepts
  • Review question
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Required
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  • Chapter 21: Errors and suspense accounts
  • Learning objectives
  • 21.1 Introduction
  • 21.2 Types of error that do not cause a trial balance to disagree
  • 21.3 Types of error that cause a trial balance to disagree
  • 21.4 Suspense accounts
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Required
  • Required
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  • Chapter 22: Single entry and incomplete records
  • Learning objectives
  • 22.1 Introduction
  • 22.2 Incomplete records of revenue income and expenditure
  • 22.3 Single entry
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Required
  • Accruals and prepayments
  • Electricity
  • Required
  • Additional information
  • Required
  • Required
  • Required
  • Required
  • Chapter 23: The final financial statements of partnerships
  • Part Five: Partnerships
  • Learning objectives
  • 23.1 The law and characteristics of partnerships
  • 23.2 The sharing of profits between the partners
  • 23.3 Capital and current accounts
  • 23.4 The appropriation account
  • 23.5 Partners’ commission
  • 23.6 A guaranteed share of profit
  • 23.7 Limited liability partnerships
  • Summary
  • Key terms and concepts
  • Appendix A: Departmental accounts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Required
  • Additional information
  • Required
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  • Additional information
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  • Additional information
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  • Additional information
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  • Additional information
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  • Additional information
  • Required
  • Chapter 24: Changes in partnerships
  • Learning objectives
  • 24.1 Introduction
  • 24.2 Retirement of a partner
  • 24.3 Admission of a new partner
  • 24.4 The revaluation of assets on changes in partners
  • 24.5 The nature of goodwill
  • 24.6 The recognition of goodwill in partnership financial statements
  • 24.7 The valuation of goodwill
  • 24.8 The admission of a new partner and the treatment of goodwill
  • 24.9 An outgoing partner and the treatment of goodwill
  • Method 1
  • Method 2
  • Method 3
  • 24.10 Incoming and outgoing partners: revaluations and goodwill
  • 24.11 Changes in partners’ profit-sharing ratio
  • Summary
  • Key terms and concepts
  • Review questions
  • Required
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Required
  • Additional information
  • Required
  • Reference
  • Chapter 25: Partnership dissolution and conversion to a limited company
  • Learning objectives
  • 25.1 Introduction
  • 25.2 Dissolution of partnerships
  • 25.3 Conversion to a limited company
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • Additional information
  • Required
  • Dissolution information
  • Required
  • Reference
  • Chapter 26: The nature of limited companies and their capital
  • Part Six: Companies
  • Learning objectives
  • 26.1 Introduction
  • 26.2 The characteristics of companies limited by shares
  • 26.3 The classes of companies limited by shares
  • 26.4 The legal powers and duties of limited companies
  • 26.5 The nature and types of share and loan capital
  • Equity shares
  • Interim and final dividends
  • Preference shares
  • Preference shares (substance over form)
  • Accounting for preference dividends (debt)
  • Debentures/loan stock
  • Accounting for interest on loan stock
  • 26.6 The issue of shares and debentures
  • 26.7 Accounting for share issues (private limited companies)
  • 26.8 Accounting for share issues (public limited companies)
  • 26.9 Accounting for debt
  • 26.10 The books of account and published financial statements
  • 26.11 The audit
  • 26.12 Statutory books
  • 26.13 The annual general meeting
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Reference
  • Chapter 27: The final financial statements of limited companies
  • Learning objectives
  • 27.1 Introduction
  • 27.2 Published financial statements
  • 27.3 Determining the profit or loss for the period
  • 27.4 The statement of financial position
  • Equity attributable to the owners of the parent
  • 27.5 Other items in the statement of financial position
  • 27.6 Statement of changes in equity
  • Items that do not form part of comprehensive income but are changes in equity
  • Preparing the financial statements of a limited company
  • 27.7 Notes to the financial statements
  • 27.8 Reporting financial performance
  • 27.9 Non-current assets held for sale and discontinued operations
  • 27.10 Material/exceptional items
  • 27.11 Prior period adjustments
  • 27.12 Events after the reporting period
  • 27.13 Provisions and contingencies
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Additional information
  • Required
  • Required
  • Additional information
  • Additional information
  • Required
  • Additional information
  • Required
  • Additional information
  • Required
  • Required
  • Required
  • References
  • Chapter 28: Statement of cash flows
  • Learning objectives
  • 28.1 The nature and purpose of statements that analyse the cash flows of a business
  • 28.2 Relationship between the statement of cash flows, the statement of financial performance and the statement of financial position
  • 28.3 Statement of cash flows – IAS 7
  • 1 Cash flows from operating activities
  • 2 Cash flows from investing activities
  • 3 Cash flows from financing activities
  • 28.4 Presentation: statement of cash flows
  • 28.5 IAS 7 – statement of cash flows: sole traders and partnerships
  • 28.6 IAS 7 – statement of cash flows: companies
  • 28.7 IAS 7 – statement of cash flows: notes
  • 28.8 Advantages and limitations of statements of cash flows
  • Summary
  • Key terms and concepts
  • Review questions
  • Required
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Required
  • Additional information
  • Required
  • Additional information
  • Required
  • Required
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  • Additional information
  • Required
  • Reference
  • Chapter 29: The appraisal of company financial statements using ratio analysis
  • Learning objectives
  • 29.1 Introduction
  • The purpose of ratio analysis
  • 29.2 Measures of a company’s performance
  • Return on capital employed (ROCE)
  • The profit margin and asset-turnover ratios
  • 29.3 Measures of solvency and liquidity
  • The working capital/current ratio
  • The liquidity/quick ratio or acid test
  • The prediction of insolvency
  • 29.4 The appraisal of working capital
  • The trade receivables ratio – average period of credit taken by credit customers
  • The trade payables ratio – average period of credit received from credit suppliers
  • The inventory turnover ratio
  • 29.5 Measures of return on investment and risk
  • The dividend yield
  • Dividend cover
  • Earnings per share (EPS)
  • The price–earnings (P/E) ratio
  • The return on equity (ROE)
  • The gearing ratio
  • 29.6 Interaction between ratios
  • 29.7 The limitations of ratio analysis
  • In practice
  • Summary
  • Key terms and concepts
  • Review questions
  • Exercises
  • Required
  • Required
  • Required
  • Required
  • Additional information
  • Required
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  • Additional information
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  • Additional information
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  • Additional information
  • Required
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  • References
  • Appendix 1
  • Case studies
  • Case study 1
  • Trading details and supporting documentation
  • Case study 2
  • Case study 3
  • Required
  • Case study 4
  • Required
  • Appendix 2
  • Introduction
  • 1 Entities and financial reporting statements
  • 1.1 Nature and functions of financial accounting
  • 1.5a Describe the recording and control function of financial accounting
  • 1.5b Explain the role of financial accounting with regard to the presentation of final financial statements
  • 1.6 Knowledge of items in the financial reporting statements
  • 1.10 Explanation of terms
  • 1.11 How has the role of a contemporary accountant changed to that of a traditional accountant?
  • 2 Financial reporting: institutional framework and standards
  • 2.1 Objectives of the IASB
  • 2.9 Describe the sources of the rules and regulations that govern the content and format of company final financial statements in the UK
  • 2.10 Describe the current institutional framework concerned with the setting and enforcement of accounting standards in the UK
  • 2.11 Explain the accounting framework options open to the following types of UK entity from 1 January 2015
  • 3 Conceptual frameworks and the qualitative characteristics of financial information
  • 3.1 What is the Conceptual Framework?
  • 3.8Users and their information requirements
  • 3.10 The qualitative characteristic of relevance
  • 4 Underpinning assumptions of financial reporting, recognition, measurement and accounting policies
  • 4.1 Concept governing drawings
  • 4.3a Definition of the elements
  • 4.3b Definition of terms
  • 4.17 (solution – brief points which should be referred to)
  • 5 Public accountability: a stakeholder perspective
  • 5.1 Users of accounting information
  • 5.3 Definitions
  • 6 Corporate governance, ethics and climate changes
  • 6.7 The ethical dilemma suggested by your father
  • 6.8 Adam Anty
  • 7 The accounting equation and its components
  • 7.6 Classifying expenditure as capital or revenue
  • 7.8 Determining profit from financial statements
  • 8 Basic documentation and books of account
  • 8.9 Books of prime entry that record inventory movement
  • 8.10 Checks to ensure that goods received equal what is ordered and what is included in the accounting system
  • 9 Double entry and the general ledger
  • 9.3 H. George
  • 9.4 L. Johnson
  • 10 The balancing of accounts and the trial balance
  • 10.3 S. Baker
  • 10.4 S. Baker – trial balance
  • 10.5 H. George (Follow on from exercise 9.3)
  • 10.6 L. Johnson (Follow on from exercise 9.4)
  • 11 Credit sales, purchases and journal entries
  • 11.5 B. Player: Completing books of prime entry
  • 11.6 Journal and ledger entries
  • 11.7 Opening journal entries
  • 12 The cash book and petty cash book
  • 12.5 The cash book
  • 12.6 The general ledger
  • 12.7 The cash book
  • 12.8 The general ledger
  • 12.13 The petty cash book
  • 13 The final financial statements of sole traders (introductory)
  • 13.7 R. Woods
  • 13.9 A. Evans
  • 13.13 Revenue returns
  • 14 Adjustments to financial statements: depreciation and non-current assets
  • 14.7 Is depreciation the loss in value of a non-current asset?
  • 14.17 Cost and disposal of property plant and equipment
  • a The journal
  • b Accumulated depreciation: year ended 30 September 20Y7:
  • 14.19 Entries for cost and disposal of property plant and equipment
  • a The ledger
  • b The journal
  • 15 Adjustments to financial statements: credit losses and allowances for credit losses
  • 15.6 Allowance for credit losses: calculation and entries
  • 15.7 Allowance for credit losses: calculation and entries
  • 15.13 Calculation of allowance for credit losses and depreciation
  • a The ledger
  • b Allowance and depreciation explained
  • 16 Adjustments to financial statements: accruals and prepayments
  • 16.3 The ledger
  • 16.8 Accrual ledger entries
  • 17 Adjustments to financial statements: inventory valuation
  • 17.6 Discussion on the relationship between inventory valuation method and actual costs
  • 17.9 Universal shoes
  • 17.14 Inventory valuation
  • a. Statements of financial performance
  • b. Statements of financial position
  • 18 The extended trial balance and final financial statements
  • 18.5 Extended trial balance workings
  • 18.6 J. Clark: financial statements
  • 19 The bank reconciliation statement
  • 19.5 The ledger
  • a Cash book entries
  • b Bank reconciliation entries
  • 19.6 Mrs Lake
  • a Bank reconciliation statement as at 30 April 20X9
  • b Further investigation
  • 20 Control accounts
  • 20.7 Ledger entries
  • Notes
  • 20.8 a Receivables control account
  • b Receivables control account reconciliation
  • 20.9 Control accounts
  • a Ledger entries
  • b Payables ledger reconciliation
  • 21 Errors and suspense accounts
  • 21.6 Correcting errors
  • 21.10 Journals to correct errors
  • 21.14 Correction of errors
  • a The journal
  • b Workings
  • 22 Single entry and incomplete records
  • 22.5 Preparation of financial statements
  • 22.7 Preparation of financial statements
  • 23 The final financial statements of partnerships
  • 23.2 Main characteristics of a partnership
  • 23.7 Appropriation account and partnership financial statements
  • 23.12 Appropriation account and partnership financial statements
  • 23.14 Workings – vehicles in partnership financial statements
  • 24 Changes in partnerships
  • 24.1 Goodwill
  • 24.7 Workings and entries for goodwill
  • 24.8 Workings and entries for goodwill
  • 25 Partnership dissolution and conversion to a limited company
  • 25.1 Reasons for dissolving a partnership
  • 25.3 Entries on dissolution of a partnership
  • 26 The nature of limited companies and their capital
  • 26.1 Characteristics of companies limited by shares
  • 26.13Share types
  • 26.14 Categorizing preference shares as debt or equity instruments
  • 27 The final financial statements of limited companies
  • 27.18 Preparation of financial statements
  • 27.19 Preparation of financial statements
  • 27.20 Preparation of financial statements
  • 28 Statement of cash flows
  • 28.15 Preparation of statement of cash flows
  • 28.17 Workings and preparation of statement of cash flows
  • 28.18 Workings and preparation of statement of cash flows
  • 29 The appraisal of company financial statements using ratio analysis
  • 29.10Calculating ratios
  • 29.12 Calculating ratios
  • 29.13 The following are points that should be included in a report:
  • 29.14 The following are points that should be included in a report:
  • Glossary
  • Glossary
  • Index
  • Index
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  • Text Alternative Figure 1-2 (Chapter 1)
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  • Text Alternative Figure 2-10 (Chapter 2)
  • Figure 3.1 Text Alternative (Chapter 3)
  • Figure 3.2 Text Alternative (Chapter 3)
  • Figure 3.3 Text Alternative (Chapter 3)
  • Figure 3.4 Text Alternative (Chapter 3)
  • Figure 3.5 Text Alternative (Chapter 3)
  • Figure 4.2 Text Alternative (Chapter 4)
  • Figure 4.3 Text Alternative (Chapter 4)
  • Figure 4.4 Text Alternative (Chapter 4)
  • Figure 4.5 Text Alternative (Chapter 4)
  • Figure 4.6 Text Alternative (Chapter 4)
  • Figure 5.1 Text Alternative (Chapter 5)
  • Figure 5.2 Text Alternative (Chapter 5)
  • Figure 5.3 Text Alternative (Chapter 5)
  • Figure 5.4 Text Alternative (Chapter 5)
  • Figure 6.1 Text Alternative (Chapter 6)
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  • Figure 6.3 Text Alternative (Chapter 6)
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  • Figure 6.5 Text Alternative (Chapter 6)
  • Figure 7.1 Text Alternative (Chapter 7)
  • Figure 8.1 Text Alternative (Chapter 8)
  • Figure 8.2 Text Alternative (Chapter 8)
  • Figure 8.4 Text Alternative (Chapter 8)
  • Figure 8.6 Text Alternative (Chapter 8)
  • Figure 8.7 Text Alternative (Chapter 8)
  • Figure 10.1 Text Alternative (Chapter 10)
  • Figure 10.2 Text Alternative (Chapter 10)
  • Figure 12.1 Text Alternative (Chapter 12)
  • Figure 13.1 Text Alternative (Chapter 13)
  • Figure 14.1 Text Alternative (Chapter 14)
  • Figure 14.2 Text Alternative (Chapter 14)
  • Figure 14.3 Text Alternative (Chapter 14)
  • Figure 14.4 Text Alternative (Chapter 14)
  • Figure 14.5 Text Alternative (Chapter 14)
  • Figure 14.6 Text Alternative (Chapter 14)
  • Text Alternative Figure 17-1 (Chapter 17)
  • Text Alternative Figure 17-2 (Chapter 17)
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  • Text Alternative Figure 17-4 (Chapter 17)
  • Text Alternative Figure 18-1 (Chapter 18)
  • Text Alternative Figure 19-1 (Chapter 19)
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  • Text Alternative Figure 20-1 (Chapter 20)
  • Text Alternative Figure 21-1 (Chapter 21)
  • Text Alternative Figure 21-2 (Chapter 22)
  • Figure 23.1 Text Alternative (Chapter 23)
  • Figure 23.2 Text Alternative (Chapter 23)
  • Figure 24.1 Text Alternative (Chapter 24)
  • Figure 24.2 Text Alternative (Chapter 24)
  • Figure 24.3 Text Alternative (Chapter 24)
  • Figure 25.1 Text Alternative (Chapter 25)
  • Figure 25.2 Text Alternative (Chapter 25)
  • Figure 26.2 Text Alternative (Chapter 26)
  • Figure 26.3 Text Alternative (Chapter 26)
  • Figure 26.4 Text Alternative (Chapter 26)
  • Figure 26.7 Text Alternative(Chapter 26)
  • Figure 26.8 Text Alternative(Chapter 26)
  • Figure 26.9 Text Alternative(Chapter 26)
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  • Figure 27.5 Text Alternative (Chapter 27)
  • Figure 27.7 Text Alternative (Chapter 27)
  • Figure 28.7 Text Alternative (Chapter 28)
  • Figure 28-8 Text Alternative (Chapter 28)
  • Figure 29.1 Text Alternative (Chapter 29)
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  • Text Alternative Figure 30-1 (Chapter 30)
  • Text Alternative Figure 30-2 (Chapter 30)
  • Text Alternative Figure 30-3 (Chapter 30)
  • Text Alternative Figure 33-1 (Chapter 33)
  • The Institutional Framework for Setting FRS Text Alternative (Appendix 2)