Practical Accounting

By Augustine Benedict & Barry Elliott
Financial Times / Pearson Education
September 2001
ISBN: 0273646605
912 Pages
$95.00 paper original

Practical Accounting offers a fresh approach to teaching financial accounting at an introductory level, whilst providing students with an extensive selection of practice questions. The content adheres not only to the typical first year accounting course at undergraduate level, but to a wide range of syllabi set by the professional accounting bodies.

Comprehensive coverage of financial accounting, using a combination of conceptual understanding, practical application and interpretation to build up bookkeeping and accounting skills. Covers core topics of management accounting. Knowledge and skills are developed progressively through a wealth of illustrations and interactive questions integrated throughout the text. Detailed solutions to the interactions are included in the text. End-of-chapter progressive questions reinforce learning and encourage students to apply their knowledge to different scenarios. Past examination questions are included at the back of the book with solutions included in the instructor's manual. Text can be tailored to suit a range of courses, whether a student is undertaking a single module, a one-semester or a year-long course.

Section A:The financial accounting process.
Chapter 1: The need to account
Chapter 2: Recording cash receipts and payments
Chapter 3: The double entry bookkeeping
Chapter 4: Obtaining information from the accounting system
Chapter 5: The Trial Balance
Chapter 6: Reporting performance and period-end position
Chapter 7: Period-end adjustments
Chapter 8: Subsidiary books of account
Chapter 9: Supporting accounts
Chapter 10: The Journal
Chapter 11: Finalisation of accounts
Chapter 12: Accounting using spread sheets Section B:Control over bank, debtors and creditors
Chapter 13: Bank account and bank reconciliation
Chapter 14: Control accounts Section C: Concerning non monetary assets
Chapter 15: Accounting for assets
Chapter 16: Depreciation of tangible fixed assets.
Chapter 17: Stock in trade Section D: Further aspects of financial reporting
Chapter 18: Liabilities, Provisions and Contingencies
Chapter 19: Post Balance Sheet events
Chapter 20: Accounting for Value Added Tax
Chapter 21: Interpretation of financial statements Section E: Standardisation of accounting and conceptual framework Chapter 22: The Accounting Standards
Chapter 23: Accounting Concepts
Chapter 24: Conveying accounting information
Chapter 25: Revenue recognition Section F: Accounting in different contexts
Chapter 26: Single entry and incomplete records (1)
Chapter 27: Single entry and incomplete records (2)
Chapter 28: Accounting for non profit making concerns
Chapter 29: Manufacturing accounts Section G: the control function
Chapter 30: Accounting systems and controls
Chapter 31: Fixed assets - appraisal and financing
Chapter 32: Planning and control - budgeting
Chapter 33: Standard Costing and Variance analysis
Chapter 34: Short term decision making - Profit, Volume Cost analysis Section H: Computerised accounting
Chapter 35: Computers in accounting Section I:Partnership accounting
Chapter 36: Partnership Accounts (1) - Appropriations
Chapter 37: Partnership Accounts (2) - Unrecorded assets
Chapter 38: Partnership Accounts (3) - Dissolution and Conversion
Chapter 39: Accounting for joint ventures Section J: Accounting for limited companies
Chapter 40: Companies (1) - An introduction
Chapter 41: Companies (2) - Shares and Debentures
Chapter 42: Companies (3) - Annual accounts for internal use
Chapter 43: Companies (4): Published financial statements Section K: Additional information vehicles
Chapter 44: Cash Flow statements
Chapter 45: More vehicles for communicating information
Chapter 46: Group accounts (1): Fully owned subsidiary
Chapter 47: Group accounts (2) - partly owned subsidiary and associates
Chapter 48: Inflation Accounting Answers to Progressive Questions Exercises from past examination papers Index Partial Contents: the financial accounting process; cash receipts & payments; double entry bookkeeping; obtaining info the accounting system; reporting performance & period-end position; subsidiary books; the journal; spread sheets; bank, debtors, and creditors; bank reconciliation; non-monetary assets; accounting for assets; depreciation; stock in trade; liabilities & contingencies; post balance sheet events; accounting standards; single entry & incomplete records; non-profit accounting; systems; budgeting; profit, volume cost analysis; computers; company reports; inflation accounting; much more.

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