The text has been restructured to conform with syllabuses for first-year students at universities and private tertiary institutions. Two new chapters - 'The accounting framework' and 'Tangible assets and depreciation' - have been added.
The text has been restructured to conform with syllabuses for first-year students at universities and private tertiary institutions. Two new chapters - 'The accounting framework' and 'Tangible assets and depreciation' - have been added. The section on insurance claims has been incorporated into chapter 10, 'Periodic inventory and VAT', and a new section on incomplete records has been included in chapter 25, 'Non-profit organisations and incomplete records'. In addition, VAT and payroll accounting are covered in more detail.
Table of contents
Module A: Introduction; The existing world of accounting; The environment of accounting; Concepts and definitions of accounting; Module B: Basic recording and reporting; Accounting as a system; Fundamentals of the recording process; Expanding the set of accounts; The general journal and general ledger; The accounting framework; Module C: Recording trading inventory; Perpetual inventory and insurance claims and VAT; Periodic inventory and VAT; Module D: Processing large volumes of data; Personal accounts; Cash transactions; Credit transactions; Payroll accounting; Module E: Accounting policies for financial reporting; Tangible assets and depreciation; Accounts receivable and accounts payable; Year-end adjustments and trial balance; Financial statements; Module F: Company accounting; An introduction to companies; Share capital and reserves; Long-term liabilities; Companies Act disclosure requirements; Cash flow statements; Module G: Other accounting entities; Sector accounting; Non-profit organisations and incomplete records; Partnerships; Close corporation; Manufacturing concerns; Module H: Financial analysis and strategy; Analysis and interpretation of financial statements; Planning and budgeting; Glossary.
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