Additional Information
Book Details
Abstract
Accounting for Non Accounting Students is the perfect addition if you need to grasp the fundamentals of financial and management accounting. This book assumes no previous accounting knowledge, and with its clear writing style, combined with real world examples, it offers what you need to help you advance in your studies.
Alongside the book, you can visit the new Accounting for Non-Accounting Students companion website at www.pearsoned.co.uk/dyson to access a comprehensive range of student-learning resources, including additional questions, web links for further reading and a glossary of key terms.
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| Cover | cover | ||
| Half-Title Page | i | ||
| Title Page | iii | ||
| Copyright Page | iv | ||
| Brief contents | v | ||
| Contents | vii | ||
| Preface | xiii | ||
| Guided tour | xvii | ||
| Acknowledgements | xix | ||
| Abbreviations | xxi | ||
| Part 1 INTRODUCTION TO ACCOUNTING | 1 | ||
| 1 Accounting and the business world | 2 | ||
| About this chapter | 3 | ||
| Learning objectives | 3 | ||
| Why accounting is important | 3 | ||
| Nature and purpose | 4 | ||
| Historical development | 5 | ||
| Branches of accounting | 8 | ||
| The accountancy profession | 13 | ||
| Public and private entities | 15 | ||
| Questions you should ask | 19 | ||
| Conclusion | 19 | ||
| Key points | 20 | ||
| Check your learning | 21 | ||
| News story quiz | 22 | ||
| Tutorial questions | 22 | ||
| 2 Accounting rules and regulations | 24 | ||
| About this chapter | 24 | ||
| Learning objectives | 25 | ||
| Why this chapter is important | 25 | ||
| The rules of the game – why have them? | 25 | ||
| Conventional accounting rules | 27 | ||
| Sources of authority | 32 | ||
| The Companies Act 2006 | 33 | ||
| UK Accounting Standards | 35 | ||
| International Accounting Standards | 36 | ||
| An accounting framework | 37 | ||
| Questions you should ask | 40 | ||
| Conclusion | 40 | ||
| Key points | 41 | ||
| Check your learning | 42 | ||
| News story quiz | 42 | ||
| Tutorial questions | 43 | ||
| Part 2 FINANCIAL ACCOUNTING | 47 | ||
| 3 Recording data | 48 | ||
| About this chapter | 49 | ||
| Learning objectives | 49 | ||
| Why this chapter is important | 49 | ||
| The accounting equation | 49 | ||
| Double-entry bookkeeping | 52 | ||
| Working with accounts | 53 | ||
| A ledger account example | 58 | ||
| Balancing the accounts | 59 | ||
| The trial balance | 61 | ||
| Trial balance errors | 64 | ||
| Computerisation | 65 | ||
| Questions you should ask | 65 | ||
| Conclusion | 66 | ||
| Key points | 67 | ||
| Check your learning | 67 | ||
| News story quiz | 68 | ||
| Tutorial questions | 68 | ||
| 4 Sole trader accounts | 77 | ||
| About this chapter | 77 | ||
| Learning objectives | 78 | ||
| Why this chapter is important | 78 | ||
| Preparing basic financial statements | 78 | ||
| Year-end adjustments | 82 | ||
| Inventory | 83 | ||
| Depreciation | 84 | ||
| Accruals and prepayments | 87 | ||
| Bad and doubtful debts | 88 | ||
| A comprehensive example | 91 | ||
| Accounting defects | 94 | ||
| Questions you should ask | 96 | ||
| Conclusion | 96 | ||
| Key points | 97 | ||
| Check your learning | 97 | ||
| News story quiz | 98 | ||
| Tutorial questions | 99 | ||
| 5 Company accounts | 109 | ||
| About this chapter | 110 | ||
| Learning objectives | 110 | ||
| Why this chapter is important | 110 | ||
| Limited liability | 110 | ||
| Structure and operation | 111 | ||
| The statement of profit or loss | 117 | ||
| The statement of changes in equity | 117 | ||
| The statement of retained earnings | 117 | ||
| The statement of financial position | 119 | ||
| A comprehensive example | 121 | ||
| Questions you should ask | 124 | ||
| Conclusion | 124 | ||
| Key points | 125 | ||
| Check your learning | 125 | ||
| News story quiz | 126 | ||
| Tutorial questions | 126 | ||
| 6 Other entity accounts | 133 | ||
| About this chapter | 134 | ||
| Learning objectives | 134 | ||
| Why this chapter is important | 134 | ||
| Manufacturing accounts | 135 | ||
| Service entity accounts | 139 | ||
| Not-for-profit entity accounts | 142 | ||
| Government accounts | 145 | ||
| Questions you should ask | 146 | ||
| Conclusion | 146 | ||
| Key points | 147 | ||
| Check your learning | 148 | ||
| News story quiz | 148 | ||
| Tutorial questions | 149 | ||
| 7 Statement of cash flows | 151 | ||
| About this chapter | 152 | ||
| Learning objectives | 152 | ||
| Why this chapter is important | 152 | ||
| What is cash? | 153 | ||
| Nature and purpose of the statement of cash flows (SCF) | 153 | ||
| Preparation | 155 | ||
| FRS 102 (Section 7) presentation | 161 | ||
| IAS 7 format | 165 | ||
| Questions you should ask | 168 | ||
| Conclusion | 168 | ||
| Key points | 169 | ||
| Check your learning | 169 | ||
| News story quiz | 170 | ||
| Tutorial questions | 170 | ||
| Preparation of financial statements | 179 | ||
| Accounting policies | 181 | ||
| Statement of cash flows | 184 | ||
| Part 3 FINANCIAL REPORTING | 187 | ||
| 8 The annual report | 188 | ||
| About this chapter | 188 | ||
| Learning objectives | 189 | ||
| Why this chapter is important | 189 | ||
| Overview | 190 | ||
| Introductory material | 191 | ||
| Corporate reporting | 196 | ||
| Shareholder information | 203 | ||
| Questions you should ask | 204 | ||
| Conclusion | 204 | ||
| Key points | 205 | ||
| Check your learning | 205 | ||
| News story quiz | 206 | ||
| Tutorial questions | 206 | ||
| 9 The annual accounts | 207 | ||
| About this chapter | 208 | ||
| Learning objectives | 208 | ||
| Why this chapter is important | 208 | ||
| Setting the scene | 209 | ||
| Consolidated statement of profit or loss and other comprehensive income | 211 | ||
| Statement of changes in equity | 212 | ||
| Consolidated statement of financial position | 214 | ||
| Consolidated statement of cash flows | 216 | ||
| Notes to the financial statements | 218 | ||
| Independent auditor’s report | 218 | ||
| Periodic summary | 219 | ||
| Questions you should ask | 222 | ||
| Conclusion | 223 | ||
| Key points | 223 | ||
| Check your learning | 224 | ||
| News story quiz | 224 | ||
| Tutorial questions | 225 | ||
| 10 Interpretation of accounts | 226 | ||
| About this chapter | 227 | ||
| Learning objectives | 227 | ||
| Why this chapter is important | 227 | ||
| Nature and purpose | 228 | ||
| Procedure | 230 | ||
| Ratio analysis | 234 | ||
| Illustrative examples | 236 | ||
| Questions you should ask | 246 | ||
| Conclusion | 246 | ||
| Key points | 247 | ||
| Check your learning | 248 | ||
| News story quiz | 248 | ||
| Tutorial questions | 249 | ||
| 11 Contemporary issues | 259 | ||
| About this chapter | 259 | ||
| Learning objectives | 260 | ||
| Why this chapter is important | 260 | ||
| Overview | 260 | ||
| Fraud | 261 | ||
| Audit rotation | 263 | ||
| Changing standards | 265 | ||
| IASB projects | 266 | ||
| FRC projects | 267 | ||
| Questions you should ask | 269 | ||
| Conclusion | 269 | ||
| Key points | 269 | ||
| Check your learning | 270 | ||
| News story quiz | 270 | ||
| Tutorial questions | 270 | ||
| CASE STUDIES | 272 | ||
| The communication of financial information | 272 | ||
| Interpretation of accounts | 275 | ||
| Part 4 Management Accounting | 277 | ||
| 12 Foundations | 278 | ||
| About this chapter | 278 | ||
| Learning objectives | 279 | ||
| Why this chapter is important | 279 | ||
| Nature and purpose | 279 | ||
| Historical review | 281 | ||
| Main functions | 282 | ||
| Behavioural considerations | 285 | ||
| Questions you should ask | 287 | ||
| Conclusion | 287 | ||
| Key points | 288 | ||
| Check your learning | 289 | ||
| News story quiz | 289 | ||
| Tutorial questions | 289 | ||
| 13 Direct costs | 291 | ||
| About this chapter | 291 | ||
| Learning objectives | 292 | ||
| Why this chapter is important | 292 | ||
| Responsibility accounting | 293 | ||
| Classification of costs | 293 | ||
| Direct materials | 295 | ||
| Direct labour | 300 | ||
| Other direct costs | 301 | ||
| Questions you should ask | 301 | ||
| Conclusion | 301 | ||
| Key points | 302 | ||
| Check your learning | 303 | ||
| News story quiz | 303 | ||
| Tutorial questions | 303 | ||
| 14 Indirect costs | 306 | ||
| About this chapter | 306 | ||
| Learning objectives | 307 | ||
| Why this chapter is important | 307 | ||
| Production overhead | 307 | ||
| A comprehensive example | 314 | ||
| Non-production overhead | 317 | ||
| Predetermined absorption rates | 318 | ||
| Activity-based costing | 319 | ||
| Questions you should ask | 322 | ||
| Conclusion | 323 | ||
| Key points | 323 | ||
| Check your learning | 324 | ||
| News story quiz | 325 | ||
| Tutorial questions | 325 | ||
| 15 Budgeting | 330 | ||
| About this chapter | 330 | ||
| Learning objectives | 331 | ||
| Why this chapter is important | 331 | ||
| Budgeting and budgetary control | 331 | ||
| Procedure | 333 | ||
| A comprehensive example | 337 | ||
| Fixed and flexible budgets | 341 | ||
| Behavioural consequences | 343 | ||
| Questions you should ask | 345 | ||
| Conclusion | 345 | ||
| Key points | 346 | ||
| Check your learning | 346 | ||
| News story quiz | 347 | ||
| Tutorial questions | 347 | ||
| 16 Standard costing | 352 | ||
| About this chapter | 352 | ||
| Learning objectives | 353 | ||
| Why this chapter is important | 353 | ||
| Operation | 353 | ||
| Performance measures | 357 | ||
| Cost variances | 359 | ||
| A comprehensive example | 362 | ||
| Sales variances | 366 | ||
| Operating statements | 368 | ||
| Questions you should ask | 369 | ||
| Conclusion | 370 | ||
| Key points | 370 | ||
| Check your learning | 370 | ||
| News story quiz | 371 | ||
| Tutorial questions | 371 | ||
| 17 Contribution analysis | 376 | ||
| About this chapter | 376 | ||
| Learning objectives | 377 | ||
| Why this chapter is important | 377 | ||
| Marginal costing | 377 | ||
| Contribution | 379 | ||
| Assumptions | 380 | ||
| Format | 380 | ||
| Application | 381 | ||
| Charts and graphs | 383 | ||
| Reservations | 388 | ||
| Formulae | 389 | ||
| Limiting factors | 392 | ||
| Questions you should ask | 394 | ||
| Conclusion | 395 | ||
| Key points | 395 | ||
| Check your learning | 395 | ||
| News story quiz | 396 | ||
| Tutorial questions | 396 | ||
| 18 Decision making | 400 | ||
| About this chapter | 400 | ||
| Learning objectives | 401 | ||
| Why this chapter is important | 401 | ||
| Nature and purpose | 401 | ||
| Cost classification | 403 | ||
| Types of decision | 405 | ||
| Questions you should ask | 414 | ||
| Conclusion | 415 | ||
| Key points | 415 | ||
| Check your learning | 416 | ||
| News story quiz | 416 | ||
| Tutorial questions | 417 | ||
| 19 Capital investment | 421 | ||
| About this chapter | 421 | ||
| Learning objectives | 422 | ||
| Why this chapter is important | 422 | ||
| Background | 422 | ||
| Main methods | 423 | ||
| Net cash flow | 434 | ||
| Sources of finance | 436 | ||
| Questions you should ask | 438 | ||
| Conclusion | 439 | ||
| Key points | 439 | ||
| Check your learning | 440 | ||
| News story quiz | 440 | ||
| Tutorial questions | 441 | ||
| 20 Emerging issues | 446 | ||
| About this chapter | 446 | ||
| Learning objectives | 447 | ||
| Why this chapter is important | 447 | ||
| The business environment | 447 | ||
| Management accounting changes | 449 | ||
| Selected techniques | 450 | ||
| Questions you should ask | 466 | ||
| Conclusion | 466 | ||
| Key points | 467 | ||
| Check your learning | 468 | ||
| News story quiz | 468 | ||
| Tutorial questions | 469 | ||
| Case Studies | 470 | ||
| Fixed and flexible budgets | 470 | ||
| Standard cost operating statements | 472 | ||
| Pricing | 474 | ||
| Appendices | 477 | ||
| Further reading | 477 | ||
| Discount table | 479 | ||
| Answers to activities | 480 | ||
| Answers to tutorial questions | 483 | ||
| Index | 512 |