Frank Wood's Business Accounting Volume 1 (14^th Ed.)

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 14^th 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.

 

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 www.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

 

 

 

MyLab Accounting

 

MyLab Accounting not included. Students, if MyLab Accounting is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyLab Accounting should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

 

Join over 10 million students benefiting from Pearson MyLabs.

 

This title can be supported by MyLab Accounting, an online homework and tutorial system designed to test and build your understanding. MyLab Accounting provides a personalised approach, with instant feedback and numerous additional resources to support your learning.

 

·  A personalised study plan

·  Usable either following chapter-by-chapter structure or by learning objective

·  Worked solutions showing you how to solve difficult problems

·  Limitless opportunities to practise

 

Use the power of MyLab Accounting to accelerate your learning. You need both an access card and a course ID to access MyLab Accounting: 

 

·  Is your lecturer using MyLab Accounting? Ask your lecturer for your course ID.

·  Has an access card been included with the book? Check the inside back cover of the book.

·  If you have a course ID but no access card, go to http://www.pearson.com/mylab/accounting to buy access.

 

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.

Notes for teachers and lecturers viii
Notes for students xi
The Last Lecture xxi
Publisher’s acknowledgements xxii
Part 1 Introduction to financial accounting
1 The background and the main features of financial accounting 3
2 Recording transactions 21
3 Inventory 44
4 The effect of profit or loss on capital and the double entry system
for expenses and revenues 55
5 Balancing-off accounts 68
6 The trial balance 77
7 Accounting concepts and assumptions 90
Part 2 Books and transactions
8 Books of original entry and ledgers 107
9 Cash books 113
10 The analytical petty cash book and the imprest system 127
11 Accounting for sales, purchases, and returns 135
12 The journal 160
13 Value added tax (VAT) 171
Part 3 Financial statements
14 Income statements 187
15 Balance sheets 199
16 Income statements and balance sheets: further considerations 207
17 Capital expenditure and revenue expenditure 224
18 Inventory valuation 233
Part 4 Accounting today
19 Accounting today 251
Part 5 Adjustments for financial statements
20 Bad debts, allowances for doubtful debts, and provisions for discounts on
accounts receivable 271
21 Depreciation 286
22 Accruals and prepayments 318
Part 6 Checks and errors
23 Control accounts 345
24 Bank reconciliations 361
25 Statements of cash flows 375
26 Errors not affecting the balancing of the trial balance 393
27 Suspense accounts and errors 401
Part 7 Special accounting procedures
28 Receipts and payments accounts and income and expenditure accounts 427
29 Manufacturing accounts 441
30 Departmental accounts 459
31 Joint ventures 468
Part 8 Partnership accounts and company accounts
32 Partnerships 481
33 Goodwill for sole proprietors and partnerships 500
34 Revaluation of partnership assets 516
35 Partnership dissolution 524
36 Company accounts 545
37 Purchase of existing partnership and sole proprietor businesses 575
Part 9 An introduction to financial analysis
38 Maths for accounting 591
39 Accounting ratios 606
40 Single entry and incomplete records 618
41 Analysis and interpretation of financial statements 638
Part 10 An introduction to management accounting
42 An introduction to management accounting 673
Appendices
1 Answers to review questions 683
2 Answers to multiple choice questions 763
3 Glossary 764
Index 774