book

Accounting, 3rd Edition

by Michael J. Jones

April 2013

Beginner

764 pages

21h 13m

English

Wiley

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IntroductionNature of AccountingImportance of AccountingFinancial Accounting and Management AccountingUsers of AccountsAccounting ContextTypes of AccountancyTypes of AccountantLimitations of AccountingConclusionDiscussion Questions

IntroductionFinancial AccountingLanguage of AccountingStudent ExampleWhy Is Financial Accounting Important?Accounting PrinciplesAccounting ConventionsConclusionDiscussion QuestionsNumerical QuestionsAppendix 2.1: Illustration of a Consolidated Income Statement for Marks & Spencer plc 2010Appendix 2.2: Illustration of a Consolidated Statement of Financial Position for Marks and Spencer plc 2010Appendix 2.3: Illustration of a Consolidated Statement of Cash Flows for Marks and Spencer 2010Appendix 2.4: Illustration of a Consolidated Income Statement for Volkswagen 2009Appendix 2.5: Illustration of a Consolidated Balance Sheet (Statement of Financial Position) for Volkswagen 2009Appendix 2.6: Illustration of a Consolidated Cash Flow Statement (Statement of Cash Flows) for Volkswagen 2009
IntroductionThe Accounting EquationWorked ExampleComputersConclusionDiscussion QuestionsNumerical Questions
IntroductionContextDefinitionsLayoutMain ComponentsProfitListed CompaniesCapital and Revenue ExpenditureLimitationsInterpretationConclusionDiscussion QuestionsNumerical Questions
IntroductionContextDefinitionsLayoutMain ComponentsLimitationsInterpretationListed CompaniesConclusionDiscussion QuestionsNumerical QuestionsAppendix 5.1: Horizontal Format of Statement of Financial Position
IntroductionMain Financial StatementsTrial Balance to the Income Statement (Profit and Loss Account) and the Statement of Financial Position (Balance Sheet)Adjustments to Trial BalanceComprehensive ExampleConclusionDiscussion QuestionsNumerical Questions
IntroductionContextPartnershipsLimited CompaniesDistinctive Accounting Features of Limited CompaniesAccounting Treatment For Limited CompaniesLimited Company Example: Stevens, Turner LtdLimited Companies: Published AccountsConclusionDiscussion QuestionsNumerical QuestionsAppendix 7.1: Example of an Income Statement (Profit and Loss Account) using UK GAAP (Manchester United Ltd)Manchester United LimitedAppendix 7.2: Example of a Statement of Financial Position (Balance Sheet) using UK GAAP (Manchester United Ltd)Manchester United Limited
IntroductionImportance of CashContextCash and the Bank AccountRelationship between Cash and ProfitPreparation of Statement of Cash FlowsConclusionDiscussion QuestionsNumerical QuestionsAppendix 8.1: Main Headings for the Cash Flow Statement (Statement of Cash Flows) for Sole Traders, Partnerships and some Non-Listed Companies under UK GAAPAppendix 8.2: Preparation of a Sole Trader's Cash Flow Statement Using the Direct Method Using UK FormatAppendix 8.3: Preparation of the Cash Flow Statement of Any Company Ltd using the Indirect Method Using UK GAAPAppendix 8.4: Example of Statement of Cash Flow (Cash Flow Statement) Using UK GAAP (Manchester United Ltd)
IntroductionContextOverviewImportance of RatiosCloser Look at Main RatiosWorked ExampleReport FormatHolistic View of RatiosPerformance IndicatorsLimitationsConclusionDiscussion QuestionsNumerical QuestionsAppendix 9.1: John Brown PlcAPPENDIX 9.2: The Cash Flows Ratio using UK GAAP
IntroductionTraditional Corporate Model: Directors, Auditors and ShareholdersRegulatory FrameworkRegulatory Framework in the UKCorporate GovernanceConceptual FrameworkConclusionSelected ReadingDiscussion Questions
IntroductionOverviewMeasurement SystemsDeficiencies of Historical Cost AccountingIllustrative Example of Different Measurement SystemsReal LifeConclusionSelected ReadingDiscussion Questions
IntroductionDefinitionContextMultiple RolesMain Contents of the Annual ReportPresentationGroup AccountsImpression ManagementConclusionSelected ReadingDiscussion Questions
IntroductionDefinitionManagerial MotivationMethods of Creative AccountingExampleReal LifeCase StudiesCreative PresentationControlling Creative AccountingConclusionSelected ReadingDiscussion Questions
IntroductionContextDivergent ForcesClassificationCountry SnapshotsConvergent ForcesConclusionSelected ReadingDiscussion QuestionsAppendix 14.1: List of International Standards
IntroductionContextRelationship with Financial AccountingOverviewCost Minimisation and Revenue MaximisationUse of Computers and Impact of Digital TechnologyArt not a ScienceChanging Nature of Management AccountingConclusionSelected ReadingDiscussion Questions
IntroductionImportance of Cost AccountingTypes of CostTraditional CostingActivity-Based CostingCosting for Inventory ValuationDifferent Costing Methods for Different IndustriesTarget CostingCost-CuttingConclusionDiscussion QuestionsNumerical Questions
IntroductionManagement Accounting Control SystemsNature of BudgetingCash BudgetOther BudgetsManufacturing BudgetsComprehensive Budgeting ExampleBehavioural Aspects of BudgetingResponsibility AccountingConclusionDiscussion QuestionsNumerical Questions
IntroductionNature of Standard CostingStandard Cost VariancesInterpretation of VariancesConclusionDiscussion QuestionsNumerical Questions
IntroductionDecision MakingContribution AnalysisDecisions, DecisionsThroughput AccountingBreak-Even AnalysisContribution GraphConclusionDiscussion QuestionsNumerical Questions
IntroductionNature of Strategic Management AccountingAssessment of Current Position of the BusinessAppraisal of Current Position of the BusinessStrategic Choice of Future DirectionConclusionSelected ReadingDiscussion QuestionsNumerical Questions
IntroductionNature of Capital InvestmentCapital Investment Appraisal TechniquesPayback PeriodAccounting Rate of ReturnNet Present ValueProfitability IndexInternal Rate of Return (IRR)Other FactorsConclusionDiscussion QuestionsNumerical QuestionsAppendix 21.1: Present Value of £1 at Compound Interest Rate (1 + r)
IntroductionNature of Sources of FinanceShort-Term FinancingLong-Term FinancingCost of CapitalConclusionDiscussion QuestionsNumerical Questions

Overview

We asked over 5000 accounting lecturers what would help them teach and students learn?

The results were:

Help with student engagement and varying levels of ability;

Real world examples to be used in class;

Content to break up lectures and engage students.

Accounting 3e has been developed to incorporate these elements and much more!

Accounting 3e provides a very accessible and easy-to-follow introduction and is aimed at students studying accounting for the first time. The book introduces concepts in an engaging and easy-to-follow manner, and examples are tried and tested with many graded questions and answers.

The third edition is updated to reflect IFRS terminologies and format including the reorganisation of the UK standards committee in July 2012. Double entry bookkeeping is included, however, this can be bypassed for students not requiring this.