| Description |
1 online resource (xx, 742 pages) |
| Contents |
1. The Accounting Scene -- 2. The Framework of Financial Statements -- 3. The Accounting System in Action -- 4. Summarising the Ledger Accounts -- 5. Further Aspects of Ledger Accounting -- 6. Accounting for Non-current Assets -- 7. Preparation of Financial Statements with Adjustments -- 8. Organising the Bookkeeping System -- 9. Controlling the Bookkeeping System -- 10. The Regulatory Framework of Accounting -- 11. Incomplete Records; Income and Expenditure Statements -- 12. The Manufacturing Account -- 13. The Financial Statements of Limited Companies and the Statement of Cash Flows -- 14. The Interpretation of Financial Statements |
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The CIMA Learning System -- How to use your CIMA Learning System -- Guide to the Icons used within this text -- Study technique -- Planning -- Tips for effective studying -- Computer-Based Assessments -- The Fundamentals of Financial Accounting Syllabus -- CIMA Certificate in Business Accounting -- Syllabus Outline -- Learning Aims -- Assessment Strategy -- 1. The Accounting Scene -- Learning Outcomes -- 1.1. Introduction -- 1.2. What is accounting? -- 1.2.1. The objectives of accounting -- 1.3. Who uses financial statements? -- 1.4. The qualitative characteristics of financial statements -- 1.5. Terminology -- 1.5.1. Bookkeeping -- 1.5.2. Financial accounting -- 1.5.3. Management accounting -- 1.6. The differences between external and internal information -- 1.7. What is a business organisation? -- 1.7.1. Profit-making organisations -- 1.7.2. Non-profit-making organisations -- 1.8. Summary -- Revision Questions -- Solutions to Revision Questions -- 2. The Framework of Financial Statements -- Learning Outcomes -- 2.1. Introduction -- 2.2. The separate entity convention -- 2.3. The accounting equation -- 2.3.1. The accounting equation in action -- 2.4. The accounting equation and the statement of financial position -- 2.4.1. The contents of a statement of financial position -- 2.4.2. Vertical presentation of a statement of financial position -- 2.5. The income statement -- 2.5.1. The cost of goods sold -- 2.6. Profit and cash -- 2.7. Capital and revenue -- 2.7.1. Capital transactions -- 2.7.2. Revenue transactions -- 2.8. Summary -- Revision Questions -- Solutions to Revision Questions -- 3. The Accounting System in Action -- Learning Outcomes -- 3.1. Introduction -- 3.2. What is a ledger account? -- 3.3. What is double-entry bookkeeping? -- 3.4. Bookkeeping entries for expenses and revenue -- 3.4.1. Bookkeeping entries for purchases and sales -- 3.4.2. Nominal ledger accounts -- 3.5. Balancing the accounts -- 3.5.1. Calculating the balance on the account -- 3.6. Summary -- Revision Questions -- Solutions to Revision Questions -- 4. Summarising the Ledger Accounts -- Learning Outcomes -- 4.1. Introduction -- 4.2. Preparing the trial balance -- 4.2.1. Does the trial balance prove the accuracy of the ledger accounts? -- 4.3. Preparing a statement of profit -- 4.3.1. The trading account -- 4.3.2. The income statement -- 4.3.3. The balance on the income statement -- 4.3.4. Dealing with drawings -- 4.4. Preparing the statement of financial position -- 4.5. Balancing off the ledger accounts -- 4.6. Columnar ledger accounts -- 4.7. Summary -- Revision Questions -- Solutions to Revision Questions |
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5. Further Aspects of Ledger Accounting -- Learning Outcomes -- 5.1. Introduction -- 5.2. Accounting for specialised transactions -- 5.2.1. Carriage costs -- 5.2.2. Discounts -- 5.3. Accounting for sales tax -- 5.3.1. Sales tax on non-current assets and expenses -- 5.3.2. Sales tax in separate ledger accounts -- 5.3.3. Non-registered businesses -- 5.3.4. Zero-rated and exempt supplies -- 5.4. Accounting for wages and salaries -- 5.4.1. Gross pay and net pay -- 5.4.2. Other deductions -- 5.4.3. Pension contributions -- 5.5. Accruals and prepayments -- 5.5.1. Recording accruals and prepayments in the ledger accounts -- 5.6. Bad debts and allowance for receivables -- 5.6.1. Accounting for bad debts -- 5.6.2. Bad debts recovered -- 5.6.3. Allowance for receivables -- 5.7. The exchange of goods -- 5.8. Summary -- Revision Questions -- Solutions to Revision Questions -- 6. Accounting for Non-current Assets -- Learning Outcomes -- 6.1. Introduction -- 6.2. Capital and revenue expenditure -- 6.3. Depreciation -- 6.4. Calculating depreciation -- 6.4.1. The straight-line method -- 6.4.2. The reducing-balance method -- 6.4.3. The machine-hour method/units of production method -- 6.4.4. The revaluation method -- 6.4.5. Depreciation in the year of acquisition and disposal -- 6.5. Accounting for the disposal of a non-current asset -- 6.6. A comprehensive example -- 6.7. Controlling tangible non-current assets -- 6.8. Accounting for intangible non-current assets -- 6.8.1. What is goodwill? -- 6.9. Summary -- Revision Questions -- Solutions to Revision Questions -- 7. Preparation of Financial Statements with Adjustments -- Learning Outcome -- 7.1. Introduction -- 7.2. The trial balance -- 7.3. The adjustments -- 7.4. Step 1: Labelling the trial balance -- 7.5. Step 2: Preparing workings -- 7.6. Step 3: Preparing the financial statements -- 7.7. Summary -- Revision Questions -- Solutions to Revision Questions -- 8. Organising the Bookkeeping System -- Learning Outcomes -- 8.1. Introduction -- 8.2. Organising the ledger accounts -- 8.2.1. Advantages of dividing the ledger -- 8.3. Supporting books and records -- 8.3.1. Source documents -- 8.4. Sales, purchases and returns daybooks -- 8.4.1. Recording transactions in the daybooks -- 8.4.2. Making the ledger entries -- 8.4.3. Extending the use of daybooks -- 8.5. The cash books -- 8.5.1. The banking system -- 8.5.2. The cash book -- 8.5.3. The petty cash book -- 8.6. The journal -- 8.6.1. The layout of the journal -- 8.6.2. Using the journal for miscellaneous transactions -- 8.6.3. Using the journal for end-of-year transactions -- 8.7. Inventory records and methods of inventory measurement -- 8.7.1. The process of inventories measurement -- 8.7.2. Application of methods of inventory measurement (also known as cost formulas) -- 8.7.3. Issues and receipts -- 8.8. Summary -- Revision Questions -- Solutions to Revision Questions |
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9. Controlling the Bookkeeping System -- Learning Outcomes -- 9.1. Introduction -- 9.2. Preventing errors -- 9.2.1. Authorisation procedures -- 9.2.2. Documentation -- 9.2.3. Organisation of staff -- 9.2.4. Safeguarding assets -- 9.3. Detecting errors -- 9.3.1. Spot checks -- 9.3.2. Comparison with external evidence -- 9.3.3. Reconciliations -- 9.3.4. Carrying out an audit -- 9.4. Bank reconciliation statements -- 9.5. Reconciliation of suppliers' statements -- 9.6. Control accounts -- 9.6.1. The status of the control account -- 9.6.2. Contra entries -- 9.6.3. Credit balances in the sales ledger; debit balances in the purchase ledger -- 9.6.4. The control account and allowance for receivables -- 9.6.5. Advantages of control accounts -- 9.6.6. Reconciling control accounts and ledger accounts -- 9.7. Suspense accounts and the correction of errors -- 9.8. Computers in accounting -- 9.8.1. Aspects of computerised accounting systems -- 9.9. Accounting coding systems -- 9.10. Summary -- Revision Questions -- Solutions to Revision Questions -- 10. The Regulatory Framework of Accounting -- Learning Outcomes -- 10.1. Introduction -- 10.2. Accounting conventions -- 10.2.1. The business entity convention -- 10.2.2. The money measurement convention -- 10.2.3. The historical cost convention -- 10.2.4. The objectivity convention -- 10.2.5. The dual aspect convention -- 10.2.6. The realisation convention -- 10.2.7. The periodicity convention -- 10.2.8. The accruals and matching conventions -- 10.2.9. The materiality convention -- 10.2.10. The stable monetary unit convention -- 10.2.11. The going concern convention -- 10.2.12. The consistency convention -- 10.2.13. The prudence convention -- 10.3. Accounting policies and estimation techniques -- 10.4. The historical cost convention and its alternatives -- 10.4.1. The theory of capital maintenance -- 10.4.2. Current purchasing power (CPP) accounting -- 10.4.3. Current cost accounting -- 10.4.4. Fair value -- 10.4.5. Value to the business (or deprival value) -- 10.4.6. The valuation of intangible assets -- 10.5. Regulations in accounting -- 10.5.1. Company law -- 10.5.2. The accountancy profession -- 10.5.3. International accounting standards -- 10.5.4. The IASB Framework for the Preparation and Presentation of Financial Statements (the 'Framework') -- 10.6. The role of the auditor -- 10.6.1. Fair presentation or true and fair -- 10.6.2. The role of the external auditor -- 10.6.3. The role of the internal auditor -- 10.6.4. The value-for-money audit -- 10.7. The role of management -- 10.8. Summary -- Revision Questions -- Solutions to Revision Questions -- 11. Incomplete Records; Income and Expenditure Statements -- Learning Outcomes -- 11.1. Introduction -- 11.2. Calculating 'missing figures' -- 11.2.1. Sales figures -- 11.2.2. Purchases figures -- 11.2.3. Expenses figures -- 11.2.4. Opening capital -- 11.2.5. Cash and bank summaries -- 11.3. Financial statements of non-profit-making bodies -- 11.3.1. Accounting terminology for non-profit-making bodies -- 11.3.2. Accounting for membership fees and subscriptions -- 11.3.3. The financial statements of non-trading organisations -- 11.4. Summary -- Revision Questions -- Solutions to Revision Questions |
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12. The Manufacturing Account -- Learning Outcomes -- 12.1. Introduction -- 12.2. Why is a manufacturing account needed? -- 12.2.1. Inventories in manufacturing organisations -- 12.3. Costs to include in the manufacturing account -- 12.3.1. Other direct costs -- 12.3.2. Prime cost -- 12.3.3. Indirect costs -- 12.3.4. Factory cost of production -- 12.3.5. Work in progress -- 12.3.6. Factory cost of goods completed -- 12.4. Layout of manufacturing and trading accounts -- 12.5. Income statement for manufacturing organisations -- 12.6. Statements of financial position for manufacturing organisations -- 12.7. The accounting system for manufacturing organisations -- 12.8. Summary -- Revision Questions -- Solutions to Revision Questions -- 13. The Financial Statements of Limited Companies and the Statement of Cash Flows -- Learning Outcomes -- 13.1. Introduction -- 13.2. Limited companies -- 13.2.1. The financial statements of companies -- 13.2.2. Presentation of company income statements -- 13.2.3. Taxation in company financial statements -- 13.2.4. Directors of limited companies -- 13.2.5. Sources of finance for a limited company -- 13.2.6. Dividends -- 13.2.7. Reserves -- 13.2.8. Statement of comprehensive income -- 13.2.9. Statement of changes in equity -- 13.3. Statement of cash flows -- 13.3.1. What is a statement of cash flows? -- 13.3.2. Why does the profit earned not equal the change in bank and cash balances? -- 13.3.3. Cash flows from operating activities -- cash generated from operations -- 13.3.4. Cash flows from operating activities -- net cash from operating activities -- 13.3.5. Cash flows from investing activities -- 13.3.6. Cash flows from financing activities -- 13.3.7. Statement of cash flows for sole traders -- 13.4. Summary -- Revision Questions -- Solutions to Revision Questions -- 14. The Interpretation of Financial Statements -- Learning Outcomes -- 14.1. Introduction -- 14.2. What is meant by 'interpretation of financial statements'? -- 14.3. Calculating ratios -- 14.3.1. Using the ratios -- 14.4. Types of ratios -- 14.5. Profitability ratios -- 14.5.1. Gross profit margin -- 14.5.2. Gross profit mark-up -- 14.5.3. Operating profit margin -- 14.5.4. Return on capital ratios -- 14.6. Liquidity ratios -- 14.6.1. The current ratio -- 14.6.2. The quick ratio -- 14.7. Efficiency ratios -- 14.7.1. Asset turnover ratios -- 14.7.2. Inventories days -- 14.7.3. Receivables days -- 14.7.4. Payable days -- 14.7.5. Total working capital ratio -- 14.8. Capital structure ratios -- 14.8.1. The gearing ratio (or leverage ratio) -- 14.8.2. Interest cover -- 14.9. Ratio analysis for sole traders -- 14.10. Summary -- Revision Questions -- Solutions to Revision Questions -- Preparing for the Computer-Based Assessments (CBAs) -- Revision technique -- Planning -- Getting down to work -- Tips for the final revision phase -- Format of the Assessment -- Structure of the assessment -- Weighting of subjects -- Revision Questions -- Solutions to Revision Questions -- Mock Assessment 1 -- Mock Assessment 2 |
| Summary |
CIMA Official Learning Systems are the only coursebooks recommended by CIMA. Written by a team of experts that include past and present CIMA examiners and markers, they contain everything you need to know. Each book maps to the syllabus chapter by chapter to help you learn effectively and reinforce learning with features including: - comprehensive coverage of the whole syllabus - step by step coverage directly linked to CIMA's Learning Outcomes - up to date examples and case studies - practice questions to test knowledge and understanding - integrated readings to increase under |
| Notes |
"Revised edition relevant for computer -based assessments." |
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Includes index |
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Print version record |
| Subject |
Chartered Institute of Management Accountants -- Examinations -- Study guides
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| SUBJECT |
Chartered Institute of Management Accountants fast |
| Subject |
Accounting -- Examinations -- Study guides
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Accounting -- Examinations, questions, etc.
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BUSINESS & ECONOMICS -- Accounting -- Financial.
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Accounting
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Accounting -- Examinations
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Examinations
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| Genre/Form |
examination study guides.
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Examinations
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Study guides
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Study guides.
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Examinations.
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Guides de l'étudiant.
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| Form |
Electronic book
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| Author |
Chartered Institute of Management Accountants.
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| ISBN |
9780080962689 |
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0080962688 |
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