Previous ed.: 1999.

Includes bibliographical references and index.

I: The basic framework -- The nature and objectives of financial accounting -- The accounting equation and its components -- II: Double-entry bookkeeping -- Basic documentation and books of account -- The general ledger -- The balancing of accounts and the trial balance -- Day books and the journal -- The cash book -- The petty cash book -- III: Preparing final accounts -- The final accounts of sole traders -- Accounting principles, concepts and policies -- Depreciation and fixed assets -- Bad debts and provisions for bad debts -- Accruals and prepayments -- The preparation of final accounts from the trial balance -- Manufacturing accounts and the valuation of stocks -- IV: Internal control and check -- The bank reconciliation statement -- Control accounts -- Errors and suspense accounts -- V: Special items, cases and entities -- Single entry and incomplete records -- The final accounts of clubs -- Accounting for hire purchase transactions -- Investment accounts -- Departmental and branch accounts -- VI: Partnership -- The final accounts of partnerships -- Changes in partnerships -- VII: Companies -- The nature of limited companies and their capital -- The final accounts of limited companies -- Changes in share capital -- Cash and funds flow statements -- The appraisal of company accounts using ratios -- VIII: Special topics -- Value added tax, columnar books of prime entry and the payroll -- The use of companies in accounting -- Accounting for changing price levels -- The conceptual framework of accounting -- An introduction to consolidated accounts.

This is an introductory level text for students undertaking accounting or business studies that offers a foundation to financial accounting. An interactive approach has been adopted to integrate the theory with practical situations.