Frank Wood’s Business Accounting Volume 2 (11th IFRS Edition)

Business Accounting is the world’s best-selling textbook on bookkeeping and accounting. Now in its eleventh edition, it has become the standard introductory text for accounting students and professionals alike.

The book is used on a wide variety of courses in accounting and business, both at secondary and tertiary level and for those studying for professional qualifications. It builds on Business Accounting 1 to cover advanced aspects of financial accounting. It also covers introductory aspects of management accounting suitable for use at all levels up to and including professional foundation level courses and first-year degree courses.

Features

• Easy-to-follow explanations of contemporary accounting practice, fully in line with International Accounting Standards
• Clear and logical progression through topics
• Activities designed to reinforce your understanding of key concepts
• Over 300 review questions, including past examination board questions
• Regularly updated Companion Website including further self-test questions and accounting standards updates

New to this Edition

• expanded and updated group accounts material
• IAS fully integrated throughout the text
• inclusion of more real world cases and examples
• reworking of review questions – levels raised so they are more challenging and reflective of the needs of the readership
• a clearer integration of financial and management accounting material, removing any superfluous sections, such as the dated material in cost accounting
• greater coverage of more topical subjects such as ethics, social accounting, financial instruments etc
• more comprehensive explanations of the interpretation of financial statements
• more on financial analysis, especially ratios

Table of Contents

Part One: Special accounts
1. Accounting for branches
2. Hire purchase accounts
3. Contract accounts

Part Two: Companies
4. Limited companies: general background
5. The issue of shares and loan notes
6. Companies purchasing and redeeming their own shares and loan notes
7. Limited companies taking over other businesses
8. Taxation in company financial statements
9. Provisions, reserves and liabilities
10. The increase and reduction of the share capital of limited companies
11. Accounting standards and related documents
12. The financial statements of limited companies: income statements, related statements and notes
13. The financial statements of limited companies: balance sheets
14. Published financial statements of limited companies: accompanying notes
15. Statements of cash flows

Part Three: Groups
16. Group financial statements: an introduction
17. Consolidation of balance sheets: basic mechanics (I)
18. Consolidation of balance sheets: basic mechanics (II)
19. Intercompany dealings: indebtedness and unrealised profit in stocks
20. Consolidated financial statements: acquisition of shares in subsidiaries at different dates
21. Intra-group dividends
22. Consolidated balance sheets: sundry matters
23. Consolidation of the financial statements of a vertical group of companies
24. Consolidated income statements and comprehensive income statements
25. Business combinations – purcahse method accounting
26. Standards covering subsidiary and associates and joint ventures

Part Four: Financial analysis
27. Accounting ratios
28. Interpretation of financial statements

Part Five: Issues in financial reporting
29. Accounting theory
30. Current cost accounting
31. Social accounting
32. Corporate governance
33. Public sector accounting
34. Accounting for management control

Part Six: Costing
35. Elements of costing
36. Absorption and marginal costing
37. Job, batch and process costing

Part Seven: Budgets
38. Budgeting and budgetary control
39. Cash budgets
40. Co-ordination of budgets

Part Eight: Standard costing and variance analysis
41. Standard costing
42. Materials and labour variances
43. Overhead and sales variances

Part Nine: Planning, control and decision making
44. Break-even analysis
45. Interest, annuities and leasing
46. Capital expenditure appraisal
47. The balanced scorecard

Part Ten: The emerging business environment of accounting
48. The supply chain and enterprise resource planning systems
49. E-commerce and accounting

Appendices
1.  Interest tables
2.  Answers to Review Questions
3.  Glossary