Frank Wood's Business Accounting, 16th edition

Published by Pearson (25 April 2025) © 2025

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

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  • A print edition
Products list
£61.99
Free delivery

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  • A print edition

Title overview

Prepare for your exams and learn essential accounting techniques with this bestselling introduction to financial accounting

Used by generations of students and professionals across the globe, Frank Wood's Business Accounting, 16th edition is one of the world’s best-selling textbooks in financial accounting, known for its straightforward style that is easy to digest whether you are new to accounting or not.

Introducing the all-important basic terminology and techniques and key elements of financial statements, this comprehensive guide to the subject is clear and easy to follow.

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

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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