Complete Accounting for Cambridge O Level and IGCSERG

Paperback | March 20, 2014

byBrian Titley, Iain Ward-Campbell

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This rigorous and challenging textbook supports achievement in the latest Cambridge IGCSE and O Level syllabuses, and includes enrichment material to set students up for further study in Accounting. Written by an author well-known for his comprehensive and rigorous yet accessible style, thebook expertly covers each element of the latest specifications and more. It is recommended by Cambridge, so you can be confident it is mapped to the latest syllabus.With a real-world focus and challenging extension material, this text helps students to look beyond the course and paves the way for high achievement in further accountancy studies. Worked examples and integrated case studies ensure that the material is always engaging, whilst questions fromCambridge O Level and IGCSE papers develop exam skills, building confidence and support strong performance in the exam.

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From the Publisher

This rigorous and challenging textbook supports achievement in the latest Cambridge IGCSE and O Level syllabuses, and includes enrichment material to set students up for further study in Accounting. Written by an author well-known for his comprehensive and rigorous yet accessible style, thebook expertly covers each element of the lates...

Brian Titley has significant experience of teaching business studies and economics and of management in education, business and government. He is a respected author, writing for students learning at the secondary level.

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Format:PaperbackDimensions:512 pages, 10.83 × 8.7 × 0.93 inPublished:March 20, 2014Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199138109

ISBN - 13:9780199138104

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Extra Content

Table of Contents

IntroductionBasic accounting principles1. 1.1 The role of accounting1.1.1 The difference between book-keeping and accounting1.1.2 Information for monitoring progress and decision-making1.1.3 The benefits of Information and Communications Technology in book-keeping and accounting1.2 The double entry system of book-keeping1.2.1 The meaning of assets, liabilities and owner's equity (capital)1.2.2 The accounting equation and the effect of business transactions1.2.3 The double entry system of book-keeping1.2.4 The sales ledger, the purchase ledger and the general ledger1.3 Documentary records1.3.1 The use of business documents as sources of information1.3.2 Invoices, credit notes, debit notes, cheques, receipts and statements of account1.4 Books of prime entry1.4.1 The cash book, the sales journal, the purchases journal, the sales returns journal, the purchases returns journal and the general journal1.4.2 Posting ledger account entries from the books of prime entry1.4.3 Trade discounts1.5 The cash book1.5.1 The dual function of the cash book1.5.2 Bank transactions and the cash book1.5.3 Cash discounts1.5.4 Reconciling the cash book with the bank statement1.6 The general journal1.6.1 The use of the journal1.6.2 Entering journal transactions1.7 The ledger1.7.1 Preparing ledger accounts1.7.2 Posting transactions in the ledger accounts1.7.3 Balancing ledger accounts1.7.4 Interpreting ledger accounts (in both formats)1.8 The trial balance1.8.1 The importance of the trial balance1.8.2 Extracting a trial balance from account balances1.8.3 The uses and limitations of the trial balance1.8.4 Errors which do not affect the trial balance1.9 Adjustments to ledger accounts1.9.1 Other payables and receivables1.9.2 Bad debts and provisions for doubtful debtsAccounting procedures2. 2.1 Capital and revenue expenditure and revenue2.1.1 Capital expenditure and revenue expenditure2.1.2 Capital and revenue receipts2.1.3 The importance of accounting for capital and revenue correctly2.2 Accounting for deprecation2.2.1 What is depreciation?2.2.2 Methods of calculating depreciation2.2.3 Accounting for depreciation2.2.4 Disposing of non-current assets2.3 Correcting errors2.3.1 Correcting errors with the journal2.3.2 Using suspense accounts2.4 Control accounts2.4.1 The use of control accounts2.4.2 Control accounts and the books of prime entryEntering items into control accountsFinal accounts3. 3.1 Income statements3.1.1 Calculating gross and net profits or losses3.1.2 The importance of net profit or loss3.1.3 Preparing Trading Accounts3.1.4 Statements of revised profits3.2 Balance sheets3.2.1 Assets and liabilities3.2.2 The accounting equation3.2.3 Working capital, equity and capital employed3.2.4 The valuation of assets3.2.5 Revising balance sheetsPreparing final accounts4. 4.1 Sole traders4.1.1 Trading businesses and service businesses4.1.2 Income statements and balance sheets for trading businesses4.1.3 Income statements and balance sheets for service businesses4.1.4 Depreciation4.1.5 Bad and doubtful debts4.1.6 Other payables and other receivables4.1.7 Goods taken by the owner for own use4.2 Partnerships4.2.1 The advantages and disadvantages of forming a partnership4.2.2 The partnership agreement4.2.3 The appropriation account4.2.4 Income statements, appropriation accounts and balance sheets for partnerships4.2.5 Equity (capital) and current accounts4.2.6 Interest on capital, partners' salaries, interest on partners' loans and drawings4.2.7 Forming a partnership4.2.8 Depreciation, bad and doubtful debts, other payables and other receivables, and goods taken by the partners for own use4.3 Clubs and societies4.3.1 Receipts and payments accounts vs. Income and expenditure accounts4.3.2 The accumulated funds4.3.3 Preparing income and expenditure accounts4.3.4 Preparing balance sheets4.3.5 Depreciation, bad and doubtful debts, other payables and other receivables, and goods taken by members for own use4.4 Incomplete records4.4.1 The impact of incomplete records4.4.2 Preparing opening and closing statements of affairs4.4.3 Calculating net profit/loss4.4.4 Computing sales and purchases figures and gross profit4.4.5 Deriving the missing figures4.5 Limited liability companies4.5.1 Appropriation accounts4.5.2 Capital structure4.5.3 Share capital and loan capital4.6 Manufacturing accounts4.6.1 Direct and indirect costs4.6.2 Cost accounting: direct material, direct labour, prime cost and factory (production) overheads4.6.3 Work-in-progress4.6.4 Factory cost of production4.6.5 Manufacturing accounts4.6.6 Income statements4.6.7 The balance sheetPayroll accounting5. 5.1 Payroll records5.1.1 Calculating pay5.1.2 Calculating overtime5.1.3 Statutory deductions5.1.4 Voluntary deductions5.1.5 Gross and net pay5.2 Book-keeping entries for payroll5.2.1 Journal entries5.2.2 Ledger entriesAdvanced principles6. 6.1 Financial relationships (ratio analysis)6.1.1 Rate of turnover of inventory6.1.2 Gross profit/sales6.1.3 Net profit/sales6.1.4 Net profit/capital employed6.1.5 Working capital ratio (current ratio)6.1.6 Quick ratio (acid test ratio)6.1.7 Improving profitability6.1.8 The importance of inventory6.2 Accounting principles6.2.1 The application of accounting principles6.2.2 The influence of international accounting standards6.2.3 Professional ethics in accounting

Editorial Reviews

"I am very excited to receive the printed copy of Complete Accounting for Cambridge O Level and IGCSE. I appreciate your support in helping our students in this part of the world to be well equipped with the latest syllabuses, for the first examinations in 2015. I will look forward eagerly tosharing this with my other staff members and the students. I am sure the students who are passionate about Accounting will equally look forward to this copy being shared with them." --Frank R Fernandes, Head of Post 16 and Senior Teacher of Accounting, Cambridge International School- Gems Group, Dubai - UAE