Includes Index

Part I. The Basic Framework. 1. The Nature and Objectives of Financial Accounting. 2. The Accounting Equation and its Components. Part II. Double Entry Bookkeeping. 3. Basic Documentation and Books of Account. 4. The General Ledger. 5. The Balancing of Accounts and the Trial Balance. 6. Day Books and the Journal. 7. The Cash Book. 8. The Petty Cash Book. Part III. Preparing Final Accounts. 9. The Final Accounts of Solc Traders. 10. Accounting Principles, Concepts and Policies. 11. Depreciation and Fixed Assets. 12. Bad Debts and Provisions for Bad Debts. 13. Accruals and Prepayments. 14. The Preparation of Final Accounts from the Trial Balance. 15. Manufacturing Accounts and the Valuation of Stocks. Part IV. Internal Control and Check. 16. The Bank Reconciliation Statement. 17. Control Accounts. 18. Errors and Suspense Accounts. Part V. Special Items, Cases and Entities. 19. Single Entry and Incomplete Records. 20. The Final Accounts of Clubs. 21. Accounting for Hire Purchase transactions. 22. Investment Accounts. 23. Departmental and Branch Accounts. Part VI. Partnerships. 24. The Final Accounts of Partnerships. 25. Changes in Partnerships. Part VII. Companies. 26. The Nature of Limited Companies and Their capital. 27. The Final accounts of Limited Companies. 28. Changes in Share Capital. 29. Cash and Funds Flow Statements. 30. The Appraisal of Company Accounts Using Ratios. Part VIII. Special Topics. 31. Value Added Tax, Columnar Books of Prime Entry, and the Payroll. 32. The Use of Computers in Accounting. 33. Accounting for Changing Price Levels. 34. The Conceptual Framework of Accounting. 35. An Introduction to Consolidated Accounts. Appendix: Solutions to Selected Chapter-End Exercises.

This is an introductory level text for students undertaking accounting or business studies that offers a foundation to financial accounting. An interactive approach has been adopted to integrate the theory with practical situations.