Download Accounting in a Nutshell, Second Edition: Accounting for the by Janet Walker PDF

By Janet Walker

This ebook is designed essentially for center and junior managers who care for monetary info with out quite realizing the content material and for college kids who're learning accounting as a non-specialist topic, for instance on a company reports or engineering path. The ebook will function a uncomplicated connection with be used through the path. it's going to even be really necessary in offering the fundamental grounding that's required earlier than relocating directly to the extra technical and in-depth research of the topic which may be required on a few classes. scholars who're embarking on a process learn to turn into a qualified accountant will locate this publication of significant profit. The booklet covers the elemental ideas and strategies of either monetary and administration accounting, assuming that the reader has no past wisdom of the subjexts. Written in a transparent and concise kind the ebook explains accounting ideas and terminiology with out using technical jargon. there are many possibilities for readers to check their growth with commonplace evaluation and self-test questions. the second one version contains new fabric all through and the variety of useful workouts and real-life examples has been elevated. This version additionally displays the requirement for all european indexed businesses to conform with foreign Finacial Reporting criteria. Janet Walker is a traveling Lecturer within the school of Finance at Cass company university. She additionally offers monetary information classes for CIMA and for different agencies and offers monetary expertise seminars in condominium for a whide varitey of businesses. * transparent and straightforward to learn * doesn't use jargon * specializes in the foundations and use of accounting details, instead of the technical aspect * offers fabric for self-testing with overview questions all through to evaluate development at every one level * Many totally labored routines and examples

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Extra resources for Accounting in a Nutshell, Second Edition: Accounting for the non-specialist (CIMA Exam Support Books)

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The date on which these criteria are all fulfilled is 2 April. In this exercise the revenue was recognised in the income statement before the cash was actually received from the customer. Sometimes the issue of revenue recognition works the other way round. The revenue might have been already received from the customer but it cannot yet be recognised in the income statement. For example the annual report of the Vodafone Group plc, the mobile communications company, for the year ended 31 March 2005 contains the following statement.

The annual depreciation charge would then be £4,000 [(£22,000 Ϫ £2,000)/5] and the net book value at the end of Year 1 would be £18,000 (£22,000 less £4,000 depreciation). The same asset, in the same business, is apparently ‘worth’ £1,000 more and the profit for the year is £1,000 more. 4 Page 52 Amortisation ‘Amortisation’ is similar to depreciation but the term is usually used to describe the ‘depreciation’ of intangible non-current assets. For example, J Sainsbury plc, a leading UK food retailer, includes in its accounting policy statement for 2005 the following in the section headed ‘Intangible fixed assets’.

Now it is time to deliver the pots to the garden centre to sell them. The cash from the sale can then be used to buy more raw materials, convert this into work in progress, etc. round the cycle again. Unfortunately it is not that simple! Most businesses work on credit. The customer (in this case the garden centre) will usually expect to be given time to pay. This means that the current asset of finished goods, once sold, is converted into a different form of current asset: debtors or trade receivables.

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