Financial Accounting

Description

The text adopts a questioning attitude to the subject, asking why accounting practices exist and how they work, without lingering on the technicalities. For those who favour the ‘why’ over ‘how to’ approach, Financial Accounting is the ideal introductory core text for first-year financial accounting students.

The text is deliberately and positively accessible for first-time students, with frequent exercises in all chapters, and answers to these supplied straight after the questions. These do not so much test understanding of the subject as develop understanding through self-testing and repetition.

Contents

Preface

1. What is accounting?

2. The statement of financial position

3. The statement of comprehensive income

4. Concepts and characteristics

5. The double entry system

6. Adjustments, including entries in ledger accounts

7. Preparation of statement of comprehensive income and statement of financial position from trial balance and adjustments

8. Accounts of limited companies and other organisations

9. Group Accounting

10. Statement of Cash Flows

11. Regulatory framework, corporate social responsibility and corporate governance

12. Interpretation, including ratio analysis and consideration of additional information required

13. Valuation and performance measurement

14. Control of accounting systems

15. Information technology and accounting

16. The finale

Appendix: Answers to self assessment questions

Glossary

Features

The fifth edition has been fully updated in line with international accounting standards. Key features for this new edition include:

*  a new chapter on group accounting

*  new material on accounting for partnerships

*  new material on incomplete records

*  expanded explanation of accounting for non-current assets

*  expanded and revised material on fair value accounting

*  updated IT chapter;

*  more company case studies and 'real life' examples;