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- The book provides greater relevance by starting from a new, concrete presentation of the double entry model which is a recognisable picture of real business activity
- The text clearly visualises the double entry through the dynamic and colourful exposition used in diagrams and examples
- The book provides plenty of opportunities for students to practise by using a set of graded drills and exercises that follow each chapter. The drills in particular provide intensive practice of the point at issue and are pedagogically superior to the exam questions often used in accounting textbooks, which are more suited to summative assessment at the end of a course of study
- The book places the development of accounting in the context of the great changes that have taken place in modern economic and financial history.
- It emphasises the importance of accountability, and the role of accounting in making the powerful answerable to those who appoint them
PART 1. INTRODUCTION.
1. Introduction.
2. The Double Entry Model of a Business.
3. Money and Value.
PART 2. RECORDING EVENTS.
4. Analysing Simple Cash Transactions.
5. Credit and the Use of Promises.
6. Bank and Cheque Transactions.
7. Borrowing, Lending and Interest.
8. Involuntary Liabilities and One-Way Transactions.
9. Timing: When to Record a Transaction.
10. Transactions between a Firm and Its Owner.
11. Recording Transactions in Separate Accounts.
12. Corrections and Transfers between Accounts.
13. Debits and Credits; Balancing an Account.
14. Reading Ledger Accounts.
15. The Trial Balance.
16. A Profit & Loss Account with Closing Stock.
17. Profit and the Accounting Equation.
18. A Simple Balance Sheet.
19. Opening Stock and Cost of Sales.
20. Stock and Profit.
21. Elements of the Full Length Profit & Loss Account.
22. The Income Statement and The P&L Account.
23. Three Levels of Profit.
24. The Extended Trial Balance.
PART 3. REPORTING RESULTS.
25. An Introduction to Accounting Principles.
26. The Presentation of the Balance Sheet.
27. Fixed Assets and Depreciation.
28. The Provision for Depreciation Account.
29. Accounting for Fixed Asset Disposals.
30. Fixed Asset Disposals (Quick Method).
31. Estimating Annual Depreciation.
32. Revenue and Capital
33. Depreciation in Context.
34. Profits Losses and Movements of Money.
35. Accruals and Prepayments.
36. Deferred Income and Accrued Income.
37. Accruals, etc, in the Extended Trial Balance.
38. Accruals, etc as Time-Shifts.
39. Accounting Software and Post-Trial Balance Adjustments.
40. Matching: Accruals etc in Context.
41. Provisions and Potential Liabilities.
42. Maintaining, Changing, or Releasing a Provision.
43. Transactions that have been Provided For.
44. Using Provisions For Their Effect on the P& L Account.
45. Rolling Provisions.
46. The Misuse of Provisions.
47 Accounting For Discounts.
48. Bad Debt Write-Off and Recovery.
49. Provision for Doubtful Debts.
50. Specific Provisions and Year-End Accounting for Debtors.
51. Accounting for VAT.
52. Cost of Sales in a Manufacturing Firm.
53. Stock Valuation: Cost & Net Realisable Value.
54. Stock Flow Assumptions: LIFO, FIFO, & AVCO.
55. Production Overheads and Stock.
PART 4. THE LIMITED COMPANY.
56. Insolvency and Its Consequences.
57. Incorporation & The Limited Company.
58. The Issues of Shares in a New Company .
59. Accounting for Profits & Losses.
60.. Accounting for Dividends.
61. Capital Maintenance and Dividend Policy.
62. The Market Value as a Share.
63. Rights Issues.
64. Debentures, Preference Shares and Earnings.
65. Equity, Share, Capital and Reserves.
66. Reserves & Bones Issues.
67. Additional Financial Statements.
PART 5. RATIOS AND READING COMPANY ACCOUNTS.
68. Profitability.
69. Gearing and the Effects of Borrowing.
70. The Gearing Ratio.
71. Working Capital & Liquidity.
72. The Working Capital Cycle.
73. Profit & Sales Ratios.
74. Investment Ratios.
PART 6. CONCLUSION.
75. Next Steps: Accounting Standards.
76. Further Reading.
1. Introduction.
2. The Double Entry Model of a Business.
3. Money and Value.
PART 2. RECORDING EVENTS.
4. Analysing Simple Cash Transactions.
5. Credit and the Use of Promises.
6. Bank and Cheque Transactions.
7. Borrowing, Lending and Interest.
8. Involuntary Liabilities and One-Way Transactions.
9. Timing: When to Record a Transaction.
10. Transactions between a Firm and Its Owner.
11. Recording Transactions in Separate Accounts.
12. Corrections and Transfers between Accounts.
13. Debits and Credits; Balancing an Account.
14. Reading Ledger Accounts.
15. The Trial Balance.
16. A Profit & Loss Account with Closing Stock.
17. Profit and the Accounting Equation.
18. A Simple Balance Sheet.
19. Opening Stock and Cost of Sales.
20. Stock and Profit.
21. Elements of the Full Length Profit & Loss Account.
22. The Income Statement and The P&L Account.
23. Three Levels of Profit.
24. The Extended Trial Balance.
PART 3. REPORTING RESULTS.
25. An Introduction to Accounting Principles.
26. The Presentation of the Balance Sheet.
27. Fixed Assets and Depreciation.
28. The Provision for Depreciation Account.
29. Accounting for Fixed Asset Disposals.
30. Fixed Asset Disposals (Quick Method).
31. Estimating Annual Depreciation.
32. Revenue and Capital
33. Depreciation in Context.
34. Profits Losses and Movements of Money.
35. Accruals and Prepayments.
36. Deferred Income and Accrued Income.
37. Accruals, etc, in the Extended Trial Balance.
38. Accruals, etc as Time-Shifts.
39. Accounting Software and Post-Trial Balance Adjustments.
40. Matching: Accruals etc in Context.
41. Provisions and Potential Liabilities.
42. Maintaining, Changing, or Releasing a Provision.
43. Transactions that have been Provided For.
44. Using Provisions For Their Effect on the P& L Account.
45. Rolling Provisions.
46. The Misuse of Provisions.
47 Accounting For Discounts.
48. Bad Debt Write-Off and Recovery.
49. Provision for Doubtful Debts.
50. Specific Provisions and Year-End Accounting for Debtors.
51. Accounting for VAT.
52. Cost of Sales in a Manufacturing Firm.
53. Stock Valuation: Cost & Net Realisable Value.
54. Stock Flow Assumptions: LIFO, FIFO, & AVCO.
55. Production Overheads and Stock.
PART 4. THE LIMITED COMPANY.
56. Insolvency and Its Consequences.
57. Incorporation & The Limited Company.
58. The Issues of Shares in a New Company .
59. Accounting for Profits & Losses.
60.. Accounting for Dividends.
61. Capital Maintenance and Dividend Policy.
62. The Market Value as a Share.
63. Rights Issues.
64. Debentures, Preference Shares and Earnings.
65. Equity, Share, Capital and Reserves.
66. Reserves & Bones Issues.
67. Additional Financial Statements.
PART 5. RATIOS AND READING COMPANY ACCOUNTS.
68. Profitability.
69. Gearing and the Effects of Borrowing.
70. The Gearing Ratio.
71. Working Capital & Liquidity.
72. The Working Capital Cycle.
73. Profit & Sales Ratios.
74. Investment Ratios.
PART 6. CONCLUSION.
75. Next Steps: Accounting Standards.
76. Further Reading.
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