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• Cover
• Accounting for Non-Accountants
• Titlepage
• Dedication
• Contents
• List of Figures
• List of Tables
• Introduction
• 1 Financial record keeping
• Introduction
• Single-entry bookkeeping
• Double-entry bookkeeping
• Balancing accounts
• The trial balance
• Daybooks and ledgers
• Accounting software
• Benefits of accounting software
• Review questions
• 2 Income statements
• Introduction
• Calculating profit
• The income statement
• Classification of expenditure
• Review questions
• 3 The balance sheet
• Introduction
• Content of the balance sheet
• Format of the balance sheet
• Review questions
• 4 Further adjustments to the income statement
• Introduction
• Accruals concept
• Accruals and prepayments
• Depreciation
• Irrecoverable debts
• Allowance for doubtful debts
• Discounts
• Review questions
• 5 Checking the double-entry system
• Introduction
• Correction of errors
• Bank reconciliation statements
• Control accounts
• Sales ledger control accounts
• Purchases ledger control accounts
• Reconciliation of control account totals
• Review questions
• 6 Accounting concepts
• Introduction
• Accounting concepts
• From accounting concepts to accounting standards
• Review questions
• 7 Accounting for other business organizations
• Introduction
• Manufacturing organizations
• Partnerships
• Not-for-profit organizations
• Incomplete records
• Review questions
• 8 An introduction to business costing
• Introduction
• Cost centres and cost units
• Cost behaviour
• Principles and methods of costing
• Costing principles
• Absorption costing
• Costing methods
• Review questions
• 9 Marginal costing and decision making
• Introduction
• Contribution
• Uses of marginal costing
• Break-even analysis
• Optimum production plans
• Make-or-buy decisions
• Special order decisions
• Closing down an unprofitable business segment
• Marginal and absorption costing compared
• Review questions
• 10 Standard costing
• Introduction
• Standard costs
• Variance analysis
• Types of variance
• Sub-variances
• Materials variances
• Labour variances
• Flexible budgets
• Sales variances
• Overhead variances
• Interpretation of variances
• Interrelationships of variances
• Review questions
• 11 Budgeting
• Introduction
• Purpose of budgets
• Types of budget
• Budgeting example
• Budgeting techniques
• Review questions
• 12 Working capital management
• Introduction
• The working capital cycle
• Inventory
• Trade receivables
• Management of trade payables
• Managing cash
• Review questions
• 13 Capital investment appraisal
• Introduction
• Capital investment
• Relevant costs and benefits
• Net cash flow and the investment appraisal
• Methods of investment appraisal
• Payback
• Accounting rate of return (ARR)
• Discounted cash flow
• Net present value (NPV)
• Internal rate of return (IRR)
• Discounted payback
• Investment appraisal evaluated
• Review questions
• 14 An introduction to limited companies
• Introduction
• Limited liability
• Setting up a limited company
• Types of limited company
• Share capital and dividends
• Financial statements of the limited company
• Rights issues
• Bonus issues
• Review questions
• 15 Published accounts of the limited company
• Introduction
• Annual return
• Contents of the annual report
• Auditor’s report
• Directors’ report
• Published financial statements – IAS 1
• Revenue
• Statement of changes in equity
• Notes to the financial statements
• Review question
• 16 Accounting standards
• Introduction
• UK GAAP
• International accounting standards
• IASB conceptual framework
• Recent progress towards a single set of accounting standards
• Financial reporting standards (FRSs) used in the UK
• Earnings management
• Review questions
• 17 Statement of cash flows
• Introduction
• The differences between cash and profit
• The statement of cash flows
• Review questions
• 18 Accounting ratios
• Introduction
• Types of accounting ratio
• Profitability ratios
• Efficiency ratios
• Liquidity ratios
• Gearing ratios
• Investor ratios
• Limitations of ratio analysis
• Review questions
• 19 The economic environment
• Economic objectives
• Economic policy
• Review questions
• Index
• Copyright