Frank Wood's Business Accounting Volume 1



PAPERBACK by Sangster, Alan; Wood, Frank


808 pages


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. 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.


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 Part 2 Books and transactions 8 Books of original entry and ledgers 9 Cash books 10 The analytical petty cash book and the imprest system 11 Accounting for sales, purchases, and returns 12 The journal 13 Value added tax (VAT) Part 3 Financial statements 14 Income statements 15 Balance sheets 16 Income statements and balance sheets: further considerations 17 Capital expenditure and revenue expenditure 18 Inventory valuation Part 4 Accounting today 19 Accounting today Part 5 Adjustments for financial statements 20 Bad debts, allowances for doubtful debts, and provisions for discounts on accounts receivable 21 Depreciation 22 Accruals and prepayments Part 6 Checks and errors 23 Control accounts 24 Bank reconciliations 25 Statements of cash flows 26 Errors not affecting the balancing of the trial balance 27 Suspense accounts and errors Part 7 Special accounting procedures 28 Receipts and payments accounts and income and expenditure accounts 29 Manufacturing accounts 30 Departmental accounts 31 Joint ventures Part 8 Partnership accounts and company accounts 32 Partnerships 33 Goodwill for sole proprietors and partnerships 34 Revaluation of partnership assets 35 Partnership dissolution 36 Company accounts 37 Purchase of existing partnership and sole proprietor businesses Part 9 An introduction to financial analysis 38 Maths for accounting 39 Accounting ratios 40 Single entry and incomplete records 41 Analysis and interpretation of financial statements Part 10 An introduction to management accounting 42 An introduction to management accounting Appendices 1 Answers to review questions 2 Answers to multiple choice questions 3 Glossary Index