Introducing the principles and practical skills of book keeping, this guide argues that it is neither dull nor mysterious - its rules are logical and straightforward and are readily mastered with practice. It explains the purpose and use of books of original entry as the basis of the double-entry system and describes the processes of recording purchases, sales and cash transactions. It goes on to show the reader how these records are used to prepare final accounts - the manufacturing, trading and profit and loss accounts and the balance sheet - to provide accurate financial statements. There is also coverage of petty cash, depreciation, partnership, company law, business documents and the effect of changes in IT, and complete exam papers with worked examples help to put the theory into practice.
Table of Contents
What is bookkeeping?; business documents; business transactions, purchases and sales; purchases, sales and the ledger; cash transactions; the bank reconciliation; petty cash; the (general) journal; writing up the books; the trial balance; what is profit or loss?; the revenue account, trading, profit and loss and appropriation account; the balance sheet; adjustments in the final accounts; depreciation; club, society and charity book keeping; information technology; partnership; limited companies; analysis and interpretation of accounts; exam papers and sample answers.
ANDREW PIPER is an Honorary Research Fellow at the University of Birmingham, UK, where ANDREW LYMER is a lecturer in Financial Accounting, Computing and Taxation.