FINANCIAL ACCOUNTING. PART 1 A conceptual framework: setting the scene. Who needs accounting? A systematic approach to financial reporting: the accounting equation. Financial statements from the accounting equation. Ensuring the quality of financial statements. PART 2 Reporting the transactions of a business. Accounting information for service businesses. Accounting information for trading businesses. Publishing financial statements. PART 3 Recognition and measurement. Fixed assets. Current assets. Liabilities due within one year. Provisions and long-term liabilities. PART 4 The reporting entity and its owners. Ownership interest. Group accounts and segmental reporting. PART 5 Performance analysis and current developments in financial reporting. Analysis of corporate performance. Developing issues in financial reporting. MANAGEMENT ACCOUNTING. PART 6 Setting the scene and defining the basic tools of management accounting. Functions of management accounting. Classification of costs. Accounting for materials, labour and overheads. PART 7 Applying the basic tools of management accounting. Job costing and contract costing. Process costing. PART 8 Planning and controlling. Preparing a budget. Standard costs. Performance evaluation and feedback reporting. PART 9 Profit, performance and current developments. Profit measurement and short-term decision making. Capital budgeting. The frontiers of management accounting. APPENDICES. Glossary. Appendix 1 Information extracted from annual report of Safe and Sure plc, used throughout Financial Accounting Appendix 2 Solutions to numerical questions in Financial Accounting Appendix 3 Solutions to numerical questions in Management Accounting.

This new edition of a popular textprovides an introduction toboth financial accounting and cost and management accounting for students. The text is conceptually based and allows students to develop a practical knowledge of accounting based on sound theory. This new edition has been brought up to date with changes in accounting regulations. Many more questions have been supplied for both the financial and management accounting parts of the book, and have been included in an expanded Lecturer's Guide. Further material on accounts preparation is also provided in the Manual. A running case study approach, based on a fictitious user and preparer of accounting information, and a management accounting consultant, brings issues to life for students and allows for a real-life perspective on accounting. Throughout the text, examples, questions and problems allow students to practise the application of theory and techniques. This text combines in a single volume, the two single-subject texts by the same author, providing an economic, high-value alternative for the student to purchase. *Examples, questions and problems allow students to practise. *Application of theory and techniques.