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Frank Wood's Business Accounting, 15th edition

Published by Pearson (June 25, 2021) © 2021

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

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ISBN-13: 9781292365497
Frank Wood's Business Accounting
Published 2021

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ISBN-13: 9781292365435
Frank Wood's Business Accounting
Published 2021

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Familiarise yourself with the essential accounting techniques in this market-leading textbook.

Frank Wood's Business Accounting, 15th edition is the best-selling textbook in bookkeeping and accounting, ideal for those who are new to the field as well as more experienced students and professionals.

This comprehensive guide is clear and easy to follow and will introduce you to the principles of business accounting, from the all-important terminology and techniques to the key financial statements.

With updated, enhanced features and review questions, this edition will broaden your understanding of the methods around the subject and create a solid foundation for your knowledge in accounting.

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

Multiple-choice questions: Set 1

Part 2 The financial statements of sole proprietors

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

Part 3 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)

Multiple-choice questions: Set 2

Part 4 Adjustments to financial statements

  1. Maths for accounting
  2. Inventory valuation
  3. Bad debts, allowances for doubtful debts, and allowances for prompt payment discounts
  4. Capital expenditure and revenue expenditure
  5. Depreciation
  6. Accruals and prepayments

Multiple-choice questions: Set 3

Part 5 Controls, checks and errors

  1. Control accounts
  2. Bank reconciliations
  3. Errors not affecting the balancing of the trial balance
  4. Suspense accounts and errors
  5. Single entry and incomplete records

Scenario questions

Part 6 Further accounting procedures

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

Multiple-choice questions: Set 4

Part 7 Accounting for partnerships

  1. Partnerships
  2. Goodwill for sole proprietors 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 financial analysis

  1. Accounting ratios
  2. Analysis and interpretation of financial statements

Part 10 Accounting today

  1. Accounting today

Multiple-choice questions: Set 5

Appendices

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

Index

Credits

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