Frank Wood's Business Accounting, 16th edition

Published by Pearson (April 25, 2025) © 2025

  • Alan Sangster University of Aberdeen
  • Lewis Gordon University of Liverpool

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£29.99
Instant access

In this eTextbook — More ways to learn

  • More flexible. Start learning right away, on any device.
  • More supportive. Get AI explanations and practice questions (select titles).
  • More interactive. Bring learning to life with audio, videos, and diagrams.
  • More memorable. Make concepts stick with highlights, search, notes, and flashcards.
  • More understandable. Translate text into 100+ languages with one tap.

Title overview

The market-leading textbook about the most essential accounting techniques, now in a practical, digital eTextbook format.

One of the world's best-selling textbooks in financial accounting, Frank Wood's Business Accounting has been used by generations of students and professionals across the globe.

Providing a thorough and up-to-date introduction to the subject, this all-in-one eTextbook offers leading textbook content and a range of digital tools, with integrated resources designed to support your learning.

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Pair this text with MyLab® Accounting.

Table of contents

  • Contents
  • Notes for teachers and lecturers
  • Notes for students
  • Publisher’s acknowledgements

Part 1 Introducing financial accounting and the double entry system

  1. Introducing financial accounting and the balance sheet
  2. The double entry system for assets, liabilities and capital
  3. The double entry system for income and expenses
  4. Double entry for purchases and sales of inventory
  5. Balancing off ledger accounts
  6. The trial balance

Multiple-choice questions: Set 1

Part 2 The financial statements of sole traders

  1. Income statements
  2. Balance sheets
  3. Income statements and balance sheets: further considerations
  4. Accounting concepts and the Conceptual Framework

Part 3 Adjustments before preparing financial statements

  1. The valuation of inventory
  2. Bad debts and allowances for doubtful debts
  3. Capital expenditure and revenue expenditure
  4. Non-current assets: depreciation and disposals
  5. Accruals and prepayments

Multiple-choice questions: Set 2

Part 4 Books of original entry

  1. Books of original entry, source documents, and ledger systems
  2. A system for recording sales and purchases made on credit terms
  3. The cash book and the petty cash book
  4. The journal and the payroll
  5. Value added tax (VAT)

Multiple-choice questions: Set 3

Part 5 Controls, checks and errors

  1. Bank reconciliations
  2. Control accounts for trade receivables and trade payables
  3. Errors not affecting trial balance agreement
  4. Suspense accounts and errors
  5. Single entry and incomplete records

Scenario questions

Part 6 Further financial accounting procedures

  1. Introduction to the statement of cash flows
  2. Receipts & payments accounts and income & expenditure accounts

Multiple-choice questions: Set 4

Part 7 Accounting for partnerships

  1. Introduction to accounting for partnerships
  2. Goodwill for sole traders and partnerships
  3. Revaluation of partnership assets
  4. Partnership dissolution

Part 8 Accounting for companies

  1. Introduction to accounting for companies
  2. The published financial statements of companies
  3. The statement of cash flows for companies

Part 9 An introduction to interpreting financial statements

  1. Ratio analysis and the interpretation of financial statements

Multiple-choice questions: Set 5

Appendices

  1. Answers to review questions
  2. Answers to multiple-choice questions
  3. Glossary
  • Index

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