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Accounting Simplified.

by Fortes, Hilary.
Material type: materialTypeLabelBookEdition: 1st ed.Description: 1 online resource (662 pages).ISBN: 9780273734567; .Subject(s): Accounting | Electronic booksOnline resources: Click to View
Contents:
Cover -- Accounting Simplified -- Contents -- Preface -- Acknowledgements -- Chapter 1: Introduction to Accounting -- Objectives -- Introduction -- What Is Accounting? -- Accounting Groups -- Financial and Management Accounting -- The Need for Financial Accounting -- Users of Business Accounts -- Revising the Basics -- Chapter 2: Double Entry -- Objectives -- Double-Entry System -- Source of Transactions -- The Ledger -- A Ledger Account -- Subsidiary Books -- Understanding Ledger Entries -- What the Books Tell Us -- Chapter 3: Ledger Accounts -- Objectives -- Balancing the Ledger Accounts -- Carry Forwards -- Chapter 4: Cash Book -- Objectives -- Introduction -- The 2-Column Cash Book -- Source Documents -- The 3-Column Cash Book -- Balancing the Cash Book -- Chapter 5: Bank Reconciliation -- Objectives -- Introduction -- Definitions -- Bank Reconciliation Statement -- Chapter 6: Petty Cash Book -- Objectives -- Introduction -- Petty Cash Vouchers -- Chapter 7: Value Added Tax -- Objectives -- Introduction -- Adjustments to Vat -- Vat Ledger Account -- Trade Discount -- Cash Discounts -- Chapter 8: Purchases and Returns Day Books -- Objectives -- Books of Original (Prime) Entry -- Purchases Day Book -- Purchases Returns Book -- Chapter 9: Sales and Returns Day Books -- Objectives -- Sales Day Book -- Sales Returns Book -- Chapter 10: Control Accounts -- Objectives -- Introduction -- Advantages of Control Accounts -- Limitations of Control Accounts -- Sales Ledger (Debtors) Control Account -- Purchase Ledger (Creditors) Control Account -- Contra Accounts (Set-Offs) -- Balances on Both Sides -- Chapter 11: Accruals and Prepayments -- Objectives -- Accruals -- Prepayments -- Chapter 12: Depreciation -- Objectives -- Introduction -- Straight Line Depreciation -- Reducing Balance Method -- Revaluation Method -- Sale of Fixed Assets.
Summary of Depreciation -- Appreciation of Fixed Assets -- Chapter 13: Bad Debts -- Objectives -- Introduction -- Provision for Bad Debts -- Recovery of Bad Debts -- Chapter 14: The Journal -- Objectives -- Introduction -- Why Use a Journal? -- Chapter 15: Trial Balance -- Objectives -- Introduction -- Errors Affecting the Trial Balance -- Period-End Adjustments -- From Trial Balance to Financial Statements -- Chapter 16: Errors and Suspense Accounts -- Objectives -- Introduction -- Suspense Account -- Chapter 17: Revision -- Objectives -- Introduction -- Chapter 18: The Valuation of Stock -- Objectives -- Introduction -- Valuation Methods -- Using Different Methods -- Net Realisable Value -- Chapter 19: Trading Account -- Objectives -- Introduction -- Returns and Carriage -- Stock -- Returns -- Treatment of Carriage Charges -- Sales -- Transfer of Balances -- Cost of Sales -- Linking Trading and Profit and Loss -- Chapter 20: Profit and Loss Account -- Objectives -- Introduction -- Format of the Profit and Loss Account -- What Is Profit? -- Classification of Expenditure -- Changes to Net Profit -- Chapter 21: Manufacturing Account -- Objectives -- Introduction -- Direct Costs -- Indirect Costs -- Stock -- Apportioning Expenses -- Chapter 22: Balance Sheet -- Objectives -- Introduction -- Definitions - Assets -- Definitions - Liabilities -- Definitions - Capital -- Additional Definitions -- Balance Sheet Layout -- Balance Sheet Presentation -- Valuation in the Balance Sheet -- Chapter 23: Revision -- Objectives -- Final Accounts -- Net Worth -- Revision Questions -- Summary -- Chapter 24: Incomplete Records -- Objectives -- Introduction -- Preparing Accounting Records -- Calculating the Trading Results -- Financial Statements -- Chapter 25: Accounting Concepts -- Objectives -- Introduction -- Fundamental Concepts -- Other Concepts.
Qualitative Characteristics - a Summing Up -- The Requirements of Accounting Standards -- Chapter 26: Partnerships -- Objectives -- Introduction -- Sole Trader -- Partnership -- Accounting for Partnerships -- Partnership Agreement -- Profit and Loss Appropriation Account -- Changes in the Partnership -- Limited Liability Partnership -- Chapter 27: Non-Profit Making Organisations -- Objectives -- Introduction -- Chapter 28: Limited Liability Companies -- Objectives -- Introduction -- The Nature of Limited Companies -- Private Limited Companies (Ltd) -- Public Limited Companies (Plc) -- Share Capital -- Dividends -- Bonus Shares -- Reserves -- Rights Issue -- Debentures -- Application and Allotment of Shares -- Shares or Debentures? -- Amalgamations -- Chapter 29: Company Financial Reports -- Objectives -- Introduction -- The Content of Financial Statements -- Annual Report -- Reporting on the Internet -- Chapter 30: Revision -- Objectives -- Introduction -- Chapter 31: Cash Flow Statements -- Objectives -- Introduction -- Why Is Cash So Important? -- What Is a Cash Flow Statement? -- The Contents of the Cash Flow Statement -- The Working Capital Cycle -- The Cash Flow Statement -- Advantages of a Cash Flow Statement -- Chapter 32: Analysis of Financial Statements - An Introduction -- Objectives -- Introduction -- Key Factors in Using Ratios -- How Are Ratios Used? -- Limitations of Ratios -- Chapter 33: Introduction to Cost Accounting -- Objectives -- Introduction -- Terminology -- Costing Methods -- Chapter 34: Break-Even Analysis -- Objectives -- Introduction -- Types of Cost -- Margin of Safety -- Chapter 35: Budgeting -- Objectives -- Introduction -- Budget -- The Objectives of Budgeting -- Budget Preparation -- Benefits of a Budget -- Stages in the Budget Process -- Different Types of Budget -- Cash Budget -- Budgets for Control.
Chapter 36: Standard Costing -- Objectives -- Introduction -- Benefits of Standard Costing -- Setting the Standards -- Variance Analysis -- Types of Variance -- Chapter 37: Revision -- Objectives -- Introduction -- Chapter 38: Investment Appraisal -- Objectives -- Introduction -- Financial Management -- Initial Assessment -- Methods of Calculation -- Analysis of Discounted Methods -- Choosing a Method -- Chapter 39: Revision -- Objectives -- Introduction -- Chapter 40: Computerised Accounting -- Objectives -- Introduction -- Buying a System -- Accounting By Computer -- Limitations of Computers -- Chapter 41: International Accounting - the Future -- Objectives -- Introduction -- Accounting Practices -- Financial Statements -- Accounting Standard Setters -- Changes in Terminology -- Changes in Financial Statement Presentation -- International Accounting Standards -- Appendix 1: Self-Test Answers -- Appendix 2: Present Value Table -- Index.
Summary: Accounting Simplified is a step-by-step introduction to financial accounting written in plain simple language. Taking students from the very basics to the elementary principles of management accounting, the text emphasises the real-world application of accounting methods and the importance of practising skills in order to reinforce learning. Drawing on years of experience as a university lecturer marking student exam papers, the author uses plenty of worked examples to set out the details of each topic before providing self-test questions for quick revision.
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Cover -- Accounting Simplified -- Contents -- Preface -- Acknowledgements -- Chapter 1: Introduction to Accounting -- Objectives -- Introduction -- What Is Accounting? -- Accounting Groups -- Financial and Management Accounting -- The Need for Financial Accounting -- Users of Business Accounts -- Revising the Basics -- Chapter 2: Double Entry -- Objectives -- Double-Entry System -- Source of Transactions -- The Ledger -- A Ledger Account -- Subsidiary Books -- Understanding Ledger Entries -- What the Books Tell Us -- Chapter 3: Ledger Accounts -- Objectives -- Balancing the Ledger Accounts -- Carry Forwards -- Chapter 4: Cash Book -- Objectives -- Introduction -- The 2-Column Cash Book -- Source Documents -- The 3-Column Cash Book -- Balancing the Cash Book -- Chapter 5: Bank Reconciliation -- Objectives -- Introduction -- Definitions -- Bank Reconciliation Statement -- Chapter 6: Petty Cash Book -- Objectives -- Introduction -- Petty Cash Vouchers -- Chapter 7: Value Added Tax -- Objectives -- Introduction -- Adjustments to Vat -- Vat Ledger Account -- Trade Discount -- Cash Discounts -- Chapter 8: Purchases and Returns Day Books -- Objectives -- Books of Original (Prime) Entry -- Purchases Day Book -- Purchases Returns Book -- Chapter 9: Sales and Returns Day Books -- Objectives -- Sales Day Book -- Sales Returns Book -- Chapter 10: Control Accounts -- Objectives -- Introduction -- Advantages of Control Accounts -- Limitations of Control Accounts -- Sales Ledger (Debtors) Control Account -- Purchase Ledger (Creditors) Control Account -- Contra Accounts (Set-Offs) -- Balances on Both Sides -- Chapter 11: Accruals and Prepayments -- Objectives -- Accruals -- Prepayments -- Chapter 12: Depreciation -- Objectives -- Introduction -- Straight Line Depreciation -- Reducing Balance Method -- Revaluation Method -- Sale of Fixed Assets.

Summary of Depreciation -- Appreciation of Fixed Assets -- Chapter 13: Bad Debts -- Objectives -- Introduction -- Provision for Bad Debts -- Recovery of Bad Debts -- Chapter 14: The Journal -- Objectives -- Introduction -- Why Use a Journal? -- Chapter 15: Trial Balance -- Objectives -- Introduction -- Errors Affecting the Trial Balance -- Period-End Adjustments -- From Trial Balance to Financial Statements -- Chapter 16: Errors and Suspense Accounts -- Objectives -- Introduction -- Suspense Account -- Chapter 17: Revision -- Objectives -- Introduction -- Chapter 18: The Valuation of Stock -- Objectives -- Introduction -- Valuation Methods -- Using Different Methods -- Net Realisable Value -- Chapter 19: Trading Account -- Objectives -- Introduction -- Returns and Carriage -- Stock -- Returns -- Treatment of Carriage Charges -- Sales -- Transfer of Balances -- Cost of Sales -- Linking Trading and Profit and Loss -- Chapter 20: Profit and Loss Account -- Objectives -- Introduction -- Format of the Profit and Loss Account -- What Is Profit? -- Classification of Expenditure -- Changes to Net Profit -- Chapter 21: Manufacturing Account -- Objectives -- Introduction -- Direct Costs -- Indirect Costs -- Stock -- Apportioning Expenses -- Chapter 22: Balance Sheet -- Objectives -- Introduction -- Definitions - Assets -- Definitions - Liabilities -- Definitions - Capital -- Additional Definitions -- Balance Sheet Layout -- Balance Sheet Presentation -- Valuation in the Balance Sheet -- Chapter 23: Revision -- Objectives -- Final Accounts -- Net Worth -- Revision Questions -- Summary -- Chapter 24: Incomplete Records -- Objectives -- Introduction -- Preparing Accounting Records -- Calculating the Trading Results -- Financial Statements -- Chapter 25: Accounting Concepts -- Objectives -- Introduction -- Fundamental Concepts -- Other Concepts.

Qualitative Characteristics - a Summing Up -- The Requirements of Accounting Standards -- Chapter 26: Partnerships -- Objectives -- Introduction -- Sole Trader -- Partnership -- Accounting for Partnerships -- Partnership Agreement -- Profit and Loss Appropriation Account -- Changes in the Partnership -- Limited Liability Partnership -- Chapter 27: Non-Profit Making Organisations -- Objectives -- Introduction -- Chapter 28: Limited Liability Companies -- Objectives -- Introduction -- The Nature of Limited Companies -- Private Limited Companies (Ltd) -- Public Limited Companies (Plc) -- Share Capital -- Dividends -- Bonus Shares -- Reserves -- Rights Issue -- Debentures -- Application and Allotment of Shares -- Shares or Debentures? -- Amalgamations -- Chapter 29: Company Financial Reports -- Objectives -- Introduction -- The Content of Financial Statements -- Annual Report -- Reporting on the Internet -- Chapter 30: Revision -- Objectives -- Introduction -- Chapter 31: Cash Flow Statements -- Objectives -- Introduction -- Why Is Cash So Important? -- What Is a Cash Flow Statement? -- The Contents of the Cash Flow Statement -- The Working Capital Cycle -- The Cash Flow Statement -- Advantages of a Cash Flow Statement -- Chapter 32: Analysis of Financial Statements - An Introduction -- Objectives -- Introduction -- Key Factors in Using Ratios -- How Are Ratios Used? -- Limitations of Ratios -- Chapter 33: Introduction to Cost Accounting -- Objectives -- Introduction -- Terminology -- Costing Methods -- Chapter 34: Break-Even Analysis -- Objectives -- Introduction -- Types of Cost -- Margin of Safety -- Chapter 35: Budgeting -- Objectives -- Introduction -- Budget -- The Objectives of Budgeting -- Budget Preparation -- Benefits of a Budget -- Stages in the Budget Process -- Different Types of Budget -- Cash Budget -- Budgets for Control.

Chapter 36: Standard Costing -- Objectives -- Introduction -- Benefits of Standard Costing -- Setting the Standards -- Variance Analysis -- Types of Variance -- Chapter 37: Revision -- Objectives -- Introduction -- Chapter 38: Investment Appraisal -- Objectives -- Introduction -- Financial Management -- Initial Assessment -- Methods of Calculation -- Analysis of Discounted Methods -- Choosing a Method -- Chapter 39: Revision -- Objectives -- Introduction -- Chapter 40: Computerised Accounting -- Objectives -- Introduction -- Buying a System -- Accounting By Computer -- Limitations of Computers -- Chapter 41: International Accounting - the Future -- Objectives -- Introduction -- Accounting Practices -- Financial Statements -- Accounting Standard Setters -- Changes in Terminology -- Changes in Financial Statement Presentation -- International Accounting Standards -- Appendix 1: Self-Test Answers -- Appendix 2: Present Value Table -- Index.

Accounting Simplified is a step-by-step introduction to financial accounting written in plain simple language. Taking students from the very basics to the elementary principles of management accounting, the text emphasises the real-world application of accounting methods and the importance of practising skills in order to reinforce learning. Drawing on years of experience as a university lecturer marking student exam papers, the author uses plenty of worked examples to set out the details of each topic before providing self-test questions for quick revision.

Description based on publisher supplied metadata and other sources.

Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2019. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.

Hong Kong Nang Yan College of Higher Education
Lee Yan Fong Library
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