Accounting For Business (2e) : 9780733987878

Accounting For Business (2e)

Marley, Stephen & Pedersen, Jeffrey
 
Edition
 
2
ISBN
 
9780733987878
ISBN 10
 
0733987877
Published
 
19/06/2009
Published by
 
Pearson Australia
Pages
 
Format
 
Out of stock
 
Title type
Book
$133.99
 
 
Title type
 
$91.99
 
 
Description

Accounting for Business: An Introduction, second edition, has been thoroughly revised to provide vocational students with an up-to-date, comprehensive overview of key financial principles.

Its business-oriented focus combined with a clear, concise writing style – an approach proven successful in the first edition – helps students gain competency in preliminary accounting concepts and applications in a practical way.

Students will learn the principles that underpin the recording and control of business transactions. They will also learn how to build an accounting system for commercial businesses, ranging from the smallest enterprise to a larger trading business.

To find out about the workbook click here >>

Table of contents
Chapter 1: An Introduction to the study of accounting
1.1 The nature of accounting
1.2 Functions of accounting
1.3 Accounting principles, standards and concepts
1.4 The accounting environment
Review exercises
Summary
Solutions to review exercises
Appendix: APES 110 Code of Ethics for Professional Accountants (Extract)

Chapter 2: The accounting equation
2.1 Accounting information
2.2 Definitions
2.3 Accounting equation
2.4 Financial position
2.5 Ledger accounts
2.6 Trial balance
2.7 Balance sheet
2.8 Determining profit or loss
2.9 General journal
2.10 Interim financial statements
Review exercises
Summary
Solutions to questions
Solutions to review exercises
Appendix: Chart of accounts
Business Scenario 1: Assets, liabilities, owner’s equity, revenues and expenses

Chapter 3: The accounting system and the GST
3.1 Introduction
3.2 The transaction processing system
3.3 The accounting system
3.4 The management information system
3.5 Relationship of the accounting and management information systems
3.6 Design of an accounting system
3.7 Designing a filing system
3.8 Internal control
3.9 Electronic business
3.10 Implementing the design of an accounting system
3.11 Accounting policy and procedures manual
3.12 Goods and services tax (GST)
3.13 Accounting for service entities
Review exercises
Summary
Solutions to questions
Solutions to review exercises

Chapter 4: Recording cash transactions
4.1 Introduction
4.2 Three-journal system for a cash business
4.3 Cash receipts journal
4.4 Cash payments journal
Review exercises
Summary
Solutions to questions

Chapter 5: Control over cash
5.1 Importance of cash control
5.2 Policy and procedures that incorporate internal controls over cash
5.3 Bank reconciliation
5.4 Petty cash payments
Review exercises
Summary
Solutions to questions

Chapter 6: Recording other transactions—the general journal
6.1 Introduction
6.2 Preparing the general journal
6.3 Posting to the ledger from the general journal
6.4 Preparation of interim financial reports
6.5 Overview of the accounting process—service business
Summary
Solutions to questions
Business Scenario 2: Accounting for a service business

Chapter 7: Recording credit transactions
7.1 Credit transactions
7.2 Sales journal
7.3 Sales returns and allowances journal
7.4 Purchases journal
7.5 Purchases returns and allowances journal
7.6 Columnar credit journals
7.7 Comprehensive example–trading business
Review exercises
Summary
Solutions to questions
Solutions to review exercises

Chapter 8: Control of credit transactions
8.1 Policy and procedures that incorporate internal controls over accounts receivable and accounts payable
8.2 Control accounts and subsidiary ledgers
8.3 Other adjustments affecting accounts receivable and accounts payable
8.4 Illustrative example–trading business
Review exercises
Summary
Solutions to questions
Solutions to review exercises

Chapter 9: End–of–period adjustments
9.1 Accounting period convention
9.2 Balance day adjustments
9.3 Closing the ledger—profit-determining accounts: service industries
9.4 Closing the ledger—profit-determining accounts: trading industries
9.5 Reversing entries
9.6 Bad and doubtful debts
9.7 Bills of exchange
9.8 GST clearing entry
9.9 Overview of the accounting process
Review exercises
Summary
Solutions to questions
Solutions to review exercises

Chapter 10: Preparation of end-of-period reports
10.1 Introduction—end-of-period reports
10.2 Income statement and balance sheet for a service business
10.3 Review of end-of-period procedures
10.4 Classification of revenue and expenses
10.5 Presentation and classification of the income statement
10.6 Presentation and classification of the balance sheet
10.7 The worksheet
Review exercises
Summary
Solutions to questions
Solutions to review exercises

Chapter 11: The complete accounting process
11.1 Introduction
11.2 Comprehensive example
Review exercises
Solutions to review exercises
Business Scenario 3: The complete accounting process

Chapter 12: Recording and control of property, plant and equipment
12.1 Property, plant and equipment
12.2 Policy and procedures that incorporate internal controls over property, plant and equipment
12.3 Depreciation
12.4 Disposal of property, plant and equipment
12.5 Property, plant and equipment register
12.6 Tax depreciation for small business entities
Review exercises
Summary
Solutions to questions
Solutions to review exercises

Chapter 13: Recording and control of payroll
13.1 Introduction
13.2 Determining rate of pay and conditions
13.3 Taxation legislation
13.4 Payroll preparation
13.5 Accounting for payroll
13.6 Role of computer technology
Review exercises
Summary
Solutions to questions
Solutions to review exercises

Chapter 14: Recording and control on inventories
14.1 Inventories
14.2 Policy and procedures that incorporate internal controls over inventories
14.3 Stocktaking (physical stocktake or inventory)
14.4 Measurement of inventories
14.5 Effect of GST on accounting for inventories
14.6 Systems used to account for inventories:
– periodic inventory system
– perpetual inventory system
14.7 Accounting records and procedures under the perpetual inventory system
14.8 Comparison between periodic and perpetual inventory systems
14.9 Errors in stocktaking
14.10 Retail businesses
14.11 Role of computer technology
Review exercises
Summary
Solutions to questions
Solutions to review exercises

Glossary
Index
Features & benefits
Accounting for Business: An Introduction includes:
  • A list of relevant Competencies and Chapter Elements at the beginning of each chapter that provide students with a clear learning roadmap
  • A new chapter on the Recording and Control of Inventories to cover FNSACCT406A Maintain asset and inventory records 
  • Highlighted Key terms that students should know 
  • Relevant concepts applied to computerised accounting to reflect today’s computer-based accounting practices 
  • Thorough Review Exercises and Underpinning Knowledge questions to help students consolidate their knowledge, while Application Case Study questions help them build real understanding of key concepts 
  • Solutions to some Assessment, Underpinning and Application questions that help students assess their own progress. Additional solutions are to be found in the accompanying Workbook 
  • Business Scenarios to illustrate important accounting principles through realistic examples 
  • A Glossary of key terms.
Author biography
Stephen Marley and Jeffrey Pedersen are accounting teachers with many years’ teaching experience in vocational education. In addition, Stephen Marley is a practicing Chartered Accountant specialising in assisting small business for more than 30 years and Jeffrey Pedersen, a Certified Practising Accountant, is experienced in small business management, accounting and auditing for business.

They are both experienced authors, having written numerous accounting titles for vocational education students.
Target audience

FNS04 Financial Services Training Package units
FNSICACC301B Administer Accounts Payable
FNSICACC302B Administer Financial Accounts
FNSICACC303B Prepare, match and process receipts
FNSICACC304B Prepare and Bank Receipts
FNSICACC305B Process Payment Documentation
FNSICACC306B Process Journal Entries
FNSICACC307B Reconcile and Monitor Accounts Receivable
FNSICGEN305B Maintain Daily Financial /Business Records
FNSICORG302B Prepare Reports for Management
FNSACCT406B Maintain asset and inventory records

BSB07 Business Services Training Package units
BSBFIA301A Maintain Financial Records
BSBFIA302A Process payroll
BSBFIA303A Process Accounts Payable and Receivable
BSBFIA304A Maintain a General Ledger
BSBFIA401A Prepare Financial Reports

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