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Provides an introduction to accounting for foundation level students. This book begins with a comprehensive stage-by-stage introduction to double entry book-keeping and accounting. It is suitable for the wide range of introductory courses in accounting and business studies at Colleges of Further Education.
List of contents
1. Introduction to the Double Entry System of Book-Keeping.
2. Ledger Accounts or ‘T Accounts.
3. Trading.
4. Final Accounts.
5. Depreciation.
6. Division of the Ledger; Books of Original Entry.
7. Value Added Tax (VAT).
8. Bad Debts; Discounts on Debtors.
9. Control Accounts.
10. Bank Reconciliation.
11. Partnership.
12. Goodwill, with Particular Reference to Partnership; Revaluation of Assets.
13. Partnership Dissolution.
14. Incomplete Records.
15. Income and Expenditure Accounts.
16. Manufacturing Accounts.
17. Limited Companies.
18. Suspense Accounts and the Correction of Errors.
19. Issue and Forfeit of Shares.
20. Redemption of Shares and Purchase by a Company of its Own Shares.
21. The Issue and Redemption of Debentures.
22. Stock Valuation.
23. Cash Flow Statements.
24. Cash Budgeting.
25. Interpretation of Accounts: An Introduction.
26. Bills of Exchange.
27. Royalties.
28. Departmental Accounts.
29. Joint Ventures.
Summary
A Practical Foundation in Accounting provides a lucid and comprehensive introduction to accounting for foundation level students. It combines easy-to-follow and modern presentation with detailed and practical coverage, supported by over two hundred carefully selected questions chosen to test students’ progress and degree of comprehension. This fifth edition includes full answers to approximately half of the questions for the use of the students. Retaining its practical approach and ‘user-friendly’ format, this edition has been fully revised and updated. The book begins with a clear and comprehensive stage-by-stage introduction to double entry book-keeping and accounting. Subsequent early chapters cover depreciation, books of original entry, bad debts, control accounts, bank reconciliation, etc., in a similarly thorough manner. More specialised applications and an introduction to cash flow and interpretative aspects of accounting are dealt with in later chapters. This comprehensive introduction is suitable for the wide range of introductory courses in accounting and business studies at Colleges of Further Education.
