CIMA Study Systems 2006: Financial Accounting Fundamentals

The Accounting Scene: What is accounting?; Who uses accounts?; The characteristics of useful information; Terminology; The differences between external and internal information; What is a business organisation?; Summary; Revision questions; Solutions to revision questions; The Framework of Financial Accounts: The separate entity concept; The accounting equation; The accounting equation and the balance sheet; The profit and loss account; Profit and cash; Capital and revenue; Summary; Revision questions; Solutions to revision questions; The Accounting System in Action: What is a ledger account?; What is double-entry bookkeeping?; Bookkeeping entries for expenses and income; Balancing the accounts; Revision questions; Solutions to revision questions; Summarising the Ledger Accounts: Preparing the trial balance; Preparing a statement of profit; Preparing the balance sheet; Balancing off the accounts; Columnar ledger accounts; Revision questions; Solutions to revision questions; Further Aspects of Ledger Accounting: Accounting for specialised transactions; Accounting for VAT; Accounting for wages and salaries; Accruals and prepayments; Bad debts and provisions for doubtful debts; The exchange of goods; Revision questions; Solutions to revision questions; Accounting for Fixed Assets: Capital and revenue expenditure; The concept of depreciation; Calculating depreciation; Accounting for the disposal of a fixed asset; A comprehensive example; Controlling tangible fixed assets; Accounting for intangible fixed assets; Revision questions; Solutions to revision questions; Final Accounts with Adjustments: The trial balance; The adjustments; Labelling the trial balance; Preparing workings; Preparing the accounts; Revision questions; Solutions to revision questions; Organising the Bookkeeping System: Organising ledger accounts; Supporting books and records; Sales, purchases and return daybooks; The cash books; The journal; Stock records and valuation methods; Revision questions; Solutions to revision questions; Controlling the bookkeeping system: Preventing errors; Detecting errors; Bank reconciliation statements; Reconciliation of suppliers' statements; Control accounts; Suspense accounts; Computers in accounting; Accounting coding systems; Revision questions; Solutions to revision questions; The Regulatory Framework of Accounting: Accounting concepts; Accounting bases and policies; The historical cost convention and its alternatives; Regulations in accounting; The role of auditor; The role of management; Revision questions; Solutions to revision questions; Incomplete Records: Income and Expenditure Accounts Calculating missing figures; Accounts for non-profit making bodies; Revision questions; Solutions to revision questions; The Manufacturing Account: Why is a manufacturing account needed?; Costs to include in the manufacturing account; Layout of a manufacturing account; Trading accounts for manufacturing organisations; Profit and loss accounts for manufacturing organisations; Balance sheets for manufacturing organisations; The accounting system for manufacturing organisations; Revision questions; Solutions to revision questions; The Accounts of Limited Companies: Limited companies; Cash-flow statements; Revision questions; Solutions to revision questions; The Interpretation of Accounts: What is meant by interpretation of accounts?; Calculating ratios; Types of ratios; Profitability ratios; Liquidity ratios; Efficiency ratios; Capital structure ratios; Ratio analysis for sole traders; Revision questions; Solutions to revision questions; Preparing for the Assessment: Mock assessment 1; Mock assessment 2.