Frank Wood’s Business Accounting Volume 1 (14th Edition)

Description

Frank Wood’s Business Accounting Volume 1, the world’s bestselling textbook on book-keeping and accounting, continues to provide an indispensable introduction for students and professionals across the globe.

Now celebrating more than 50 years in publication, the 14th edition has retained all the essence of what makes this the go-to textbook for accounting and book-keeping, but has also undergone significant changes and revisions based on reviewer feedback. With the inclusion of brand new chapters such as ‘Maths for Accounting’, combined with the reorganisation of chapters, and revision of end-of-chapter questions, this book will provide all the support you will need for learning key accounting topics.

Key Features

• Interactive digital learning experience
• Includes eText, Apps and study tools
• Instant feedback on assignments
• Help when and where you need it

New to this Edition

• Maths for Accounting chapter
• Part 6 ‘Checks and Errors’
• Incorporation of new end-of-chapter questions
• Accounting Today chapter
• For lecturers, visit pearsoned.co.uk/wood for our suite of resources to accompany this textbook, including:
  • A complete solutions guide
  • PowerPoint slides for each chapter
  • Seven online chapters for further reading

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• A personalised study plan
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• Worked solutions showing you how to solve difficult problems
• Limitless opportunities to practise

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Table of Contents

1. Part 1 Introduction to financial accounting
   1. The background and the main features of financial accounting
   2. Recording transactions
   3. Inventory
   4. The effect of profit or loss on capital and the double entry system for expenses and revenues
   5. Balancing-off accounts
   6. The trial balance
   7. Accounting concepts and assumptions
2. Part 2 Books and transactions
   1. Books of original entry and ledgers
   2. Cash books
   3. The analytical petty cash book and the imprest system
   4. Accounting for sales, purchases, and returns
   5. The journal
   6. Value added tax (VAT)
3. Part 3 Financial statements
   1. Income statements
   2. Balance sheets
   3. Income statements and balance sheets: further considerations
   4. Capital expenditure and revenue expenditure
   5. Inventory valuation
4. Part 4 Accounting today
   1. Accounting today
5. Part 5 Adjustments for financial statements
   1. Bad debts, allowances for doubtful debts, and provisions for discounts on accounts receivable
   2. Depreciation
   3. Accruals and prepayments
6. Part 6 Checks and errors
   1. Control accounts
   2. Bank reconciliations
   3. Statements of cash flows
   4. Errors not affecting the balancing of the trial balance
   5. Suspense accounts and errors
7. Part 7 Special accounting procedures
   1. Receipts and payments accounts and income and expenditure accounts
   2. Manufacturing accounts
   3. Departmental accounts
   4. Joint ventures
8. Part 8 Partnership accounts and company accounts
   1. Partnerships
   2. Goodwill for sole proprietors and partnerships
   3. Revaluation of partnership assets
   4. Partnership dissolution
   5. Company accounts
   6. Purchase of existing partnership and sole proprietor businesses
9. Part 9 An introduction to financial analysis
   1. Maths for accounting
   2. Accounting ratios
   3. Single entry and incomplete records
   4. Analysis and interpretation of financial statements
10. Part 10 An introduction to management accounting
    1. An introduction to management accounting
11. Appendices
    1. Answers to review questions
    2. Answers to multiple choice questions
    3. Glossary
12. Index

Authors Biography

Alan Sangster is Professor of Accounting at the University of Sussex and formerly at other universities in the UK, Brazil, and Australia.

Lewis Gordon is Lecturer in Accounting at the University of Liverpool, and has extensive experience of teaching financial accounting at undergraduate and professional levels.

Frank Wood formerly authored this text and he remains one of the best-selling authors of accounting textbooks.