Lýsing:
Introduction to Financial Accounting is a marketleading textbook that offers comprehensive coverage of all the fundamental accounting techniques and practices required by the major accountancy bodies, and explains the reasons why transactions are accounted for in a particular manner. The authors provide stimulating discussion that enables students to think strategically about the influence that accounting has on economic decisionmaking and its impact on wider society.
For students undertaking a degree in accounting or business studies, this ninth edition has been fully revised and updated to the latest accounting standards. It provides a contemporary approach whilst retaining its highly valued concise, studentfriendly chapters and practical content. This essential resource is packed with real world examples, worked examples and exercises to keep students engaged and to aid understanding of complex accounting theory.
Annað
- Höfundar: Andrew Thomas, Anne Marie Ward
- Útgáfa:9
- Útgáfudagur: 2019-02-28
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- Format:ePub
- ISBN 13: 9781526847072
- Print ISBN: 9781526803009
- ISBN 10: 1526847078
Efnisyfirlit
- Cover
- Halftitle
- Title
- Copyright
- Dedication
- Brief Table of Contents
- Detailed Table of Contents
- About the Authors
- Preface to Ninth Edition
- Acknowledgements
- Guided Tour
- Connect
- Online Learning Centre
- PART 1: The framework of accounting
- 1 Entities and financial reporting statements (including the nature and objectives of financial accounting)
- Learning Objectives:
- 1.1 Introduction and history of accounting
- 1.2 The nature and functions of financial accounting
- 1.3 The objectives of an appropriate accounting system
- 1.4 Accounting language
- 1.5 Annual report and financial statements
- 1.6 Types of entity
- 1.7 The regulatory framework of accounting
- Summary
- Key terms and concepts
- Review questions
- Exercises
- References
- 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 Working Groups: Transition Resource Groups
- 2.10 The standard-setting process
- 2.11 UK Accounting Regulation (and the ROI)
- 2.12 Harmonization
- 2.13 International Financial Reporting Standards (IFRSs)
- 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 IFRS 15 – Revenue from Contracts with Customers
- 2.21 IAS 37 – Provisions, Contingent Liabilities and Contingent Assets
- 2.22 IAS 38 – Intangible Assets
- 2.23 IFRS 3 – Business Combinations
- 2.24 IFRS 5 – Non-current Assets Held for Sale and Discontinuing Operations
- 2.25 Current issues
- Summary
- Key terms and concepts
- Review questions
- Websites
- References
- 3 The Conceptual Framework 1: objective of financial statements, stakeholders and other reports
- Learning Objectives:
- 3.1 Introduction
- 3.2 The conceptual framework of accounting
- 3.3 The objectives of general purpose financial reporting
- 3.4 The limitations of financial statements
- 3.5 The reporting entity
- 3.6 Key users of annual reports and their information needs
- 3.7 Public accountability
- 3.8 Other users of annual reports and their information needs
- 3.9 Corporate social responsibility (CSR)
- 3.10 Environmental accounting (social accounting)
- 3.11 The conceptual framework debate, standardization and choice
- Summary
- Key terms and concepts
- Review questions
- Websites
- References
- 4 The Conceptual Framework 2: concepts, principles and policies
- Learning Objectives:
- 4.1 Introduction
- 4.2 Key accounting concept under the Conceptual Framework
- 4.3 Other concepts
- 4.4 Recognition
- 4.5 Measurement bases
- 4.6 Capital maintenance
- 4.7 Accounting policies
- 4.8 Selecting accounting policies
- 4.9 Changing accounting policies
- 4.10 The disclosure of accounting policies and estimation techniques
- Summary
- Key terms and concepts
- Review questions
- Exercises
- References
- 5 The Conceptual Framework 3: the qualitative characteristics of financial information
- Learning Objectives:
- 5.1 The qualitative characteristics of financial information
- 5.2 Relevance
- 5.3 Faithful representation
- 5.4 Enhancing qualitative characteristics
- 5.5 Constraints on the qualitative characteristics
- Summary
- Key terms and concepts
- Review questions
- References
- 6 Auditing, corporate governance and ethics
- Learning Objectives:
- 6.1 Auditing
- 6.2 Corporate governance
- 6.3 Ethics
- Summary
- Key terms and concepts
- Review questions
- Exercises
- References
- 1 Entities and financial reporting statements (including the nature and objectives of financial accounting)
- 7 The accounting equation and its components
- 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
- 7.6 Strengths and limitations of historical cost in accounting measurement
- Summary
- Key terms and concepts
- Review questions
- Exercises
- References
- 8 Basic documentation and books of account
- Learning Objectives:
- 8.1 Introduction
- 8.2 Basic documentation for cash and credit transactions
- 8.3 Computerized accounting systems
- Summary
- Key terms and concepts
- Review questions
- Exercises
- 9 Double entry and the general ledger
- Learning Objectives:
- 9.1 The principles of double-entry bookkeeping
- 9.2 Cash and bank transactions
- 9.3 Ledger entries for credit transactions
- 9.4 Adjustments for drawings and capital introduced
- 9.5 Adjustments for goods on sale or return
- 9.6 Ledger account balances
- Summary
- Key terms and concepts
- Exercises
- 10 The balancing of accounts and the trial balance
- Learning Objectives:
- 10.1 The balancing of accounts
- 10.2 The purposes and preparation of a trial balance
- Summary
- Key terms and concepts
- Review questions
- Exercises
- 11 Day books and the journal
- Learning Objectives:
- 11.1 The contents of the day books and the journal
- 11.2 Opening entries/takeovers and the journal
- Summary
- Key terms and concepts
- Review questions
- Exercises
- 12 The cash book and petty cash book
- Learning Objectives:
- 12.1 Introduction
- 12.2 The cash book
- 12.3 The two-column cash book
- 12.4 The three-column cash book
- 12.5 Petty cash book
- 12.6 The columnar petty cash book
- 12.7 The imprest system
- Summary
- Key terms and concepts
- Review questions
- Exercises
- 13 The final financial statements of sole traders (introductory)
- Learning Objectives:
- 13.1 Introduction
- 13.2 The purpose and structure of statements of profit or loss
- 13.3 Gross profit: inventory and the cost of sales
- 13.4 The purpose and structure of a statement of financial position
- 13.5 Preparing financial statements from the trial balance
- Summary
- Key terms and concepts
- Review questions
- Exercises
- 14 Adjustments to financial statements: depreciation and non-current assets
- Learning Objectives:
- 14.1 The nature and types of non-current assets
- 14.2 The recognition and valuation of non-current assets
- 14.3 The nature of depreciation
- 14.4 Methods of depreciation
- 14.5 Accounting policy for depreciation
- 14.6 Accounting for depreciation
- 14.7 Profits and losses on the disposal of non-current assets
- 14.8 The depreciation charge on an asset in the years of acquisition and disposal: partial year depreciation
- 14.9 Creative accounting and depreciation
- Summary
- Key terms and concepts
- Review questions
- Exercises
- References
- 15 Adjustments to financial statements: irrecoverable debts and allowance for irrecoverable debts
- Learning Objectives:
- 15.1 The nature of, and ledger entries for, irrecoverable debts
- 15.2 The nature of, and ledger entries for, allowances for irrecoverable debts
- Summary
- Key terms and concepts
- Review questions
- Exercises
- References
- 16 Adjustments to financial statements: accruals and prepayments
- Learning Objectives:
- 16.1 The nature of, and ledger entries for, accrued expenses
- 16.2 The nature of, and ledger entries for, prepaid expenses
- 16.3 Accruals and prepayments and the preparation of final financial statements from the trial balance
- 16.4 Further year-end adjustment (inventories of tools, stationery and fuels)
- 16.5 Further year-end adjustment (company taxation)
- Summary
- Key terms and concepts
- Review questions
- Exercises
- 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
- 17.4 The valuation of finished goods and work-in-progress
- 17.5 FIFO and LIFO compared
- Summary
- Key terms and concepts
- Review questions
- Exercises
- References
- 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
- 19 The bank reconciliation statement
- Learning Objectives:
- 19.1 The purpose and preparation of bank reconciliations
- Summary
- Key terms and concepts
- Review questions
- Exercises
- 20 Control accounts
- Learning Objectives:
- 20.1 The nature and preparation of control accounts
- 20.2 The purpose of control accounts
- 20.3 Alternative systems
- Summary
- Key terms and concepts
- Review questions
- Exercises
- 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
- 22 Single entry and incomplete records
- Learning Objectives:
- 22.1 Introduction
- 22.2 Incomplete records of revenue income and expenditure
- 22.3 Single entry
- 22.4 Record-keeping for tax purposes
- Summary
- Key terms and concepts
- Review questions
- Exercises
- 23 The final financial statements of 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
- 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
- 24.10 Incoming and outgoing partners and goodwill
- 24.11 Changes in partners’ profit- sharing ratio
- Summary
- Key terms and concepts
- Review questions
- Exercises
- References
- 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
- Reference
- 26 The nature of limited companies and their capital
- 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
- 26.6 The issue of shares and debentures
- 26.7 Interim and final dividends
- 26.8 The books of account and published financial statements
- 26.9 The auditors’ report
- 26.10 Statutory books
- 26.11 The annual general meeting
- Summary
- Key terms and concepts
- Review questions
- Exercises
- Reference
- 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
- 27.5 Accounting for share issues (limited companies)
- 27.6 Accounting for share issues (public limited companies)
- 27.7 Other items in the statement of financial position
- 27.8 Statement of changes in equity
- 27.9 Notes to the financial statements
- 27.10 Reporting financial performance
- 27.11 Non-current assets held for sale and discontinued operations
- 27.12 Material/exceptional items
- 27.13 Prior period adjustments
- 27.14 Events after the reporting period
- 27.15 Provisions and contingencies
- 27.16 Accounting for debt
- Summary
- Key terms and concepts
- Review questions
- Exercises
- References
- 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 comprehensive income and the statement of financial position
- 28.3 Statements of cash flows – IAS 7
- 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 Purposes and uses of statements of cash flows revisited
- 28.9 Advantages and limitations of statements of cash flows
- 28.10 The purpose, uses and advantages of classified statements of cash flows
- Summary
- Key terms and concepts
- Review questions
- Exercises
- Reference
- 29 The appraisal of company financial statements using ratio analysis
- Learning Objectives:
- 29.1 Introduction
- 29.2 Measures of a company’s performance
- 29.3 Measures of solvency and liquidity
- 29.4 The appraisal of working capital
- 29.5 Measures of return on investment and risk
- 29.6 Interaction between ratios
- 29.7 The limitations of ratio analysis
- Summary
- Key terms and concepts
- Review questions
- Exercises
- References
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- Gerð : 208
- Höfundur : 15129
- Útgáfuár : 2019
- Leyfi : 379