Accounting: AS Level and A Level

[Pages:10]Accounting: AS Level and A Level

AS Level and A Level

Accounting

Harold Randall

PUBLISHED BY THE PRESS SYNDICATE OF THE UNIVERSITY OF CAMBRIDGE

The Pitt Building, Trumpington Street, Cambridge, United Kingdom

CAMBRIDGE UNIVERSITY PRESS

The Edinburgh Building, Cambridge CB2 2RU, UK 40 West 20th Street, New York, NY 10011-4211, USA 477 Williamstown Road, Port Melbourne, VIC 3207, Australia Ruiz de Alarc?n 13, 28014 Madrid, Spain Dock House, The Waterfront, Cape Town 8001, South Africa

? Cambridge University Press 2005

This book is in copyright. Subject to statutory exception and to the provisions of relevant collective licensing agreements, no reproduction of any part may take place without the written permission of Cambridge University Press.

First published 2005

Printed in the United Kingdom at the University Press, Cambridge

A catalogue record for this book is available from the British Library

ISBN 0 521 53993 5 paperback

ACKNOWLEDGMENTS

Cover image ? Philip James Corwin/CORBIS

Past examination questions are reproduced by permission of the University of Cambridge Local Examinations Syndicate.

Contents

Preface Topics grid I The accounting system 1 Double-entry bookkeeping: cash transactions 2 Double-entry bookkeeping: credit transactions 3 Books of prime (or original) entry 4 Balancing accounts 5 The classification of accounts and division of the ledger 6 The trial balance II Financial accounting 7 Trading and Profit and Loss Accounts for sole traders 8 Balance Sheets for sole traders 9 Accounting principles or concepts 10 Accruals and prepayments (the matching concept) 11 Provisions for the depreciation of fixed assets 12 Bad and doubtful debts 13 Bank reconciliation statements 14 Control accounts 15 Suspense accounts 16 Incomplete records 17 Non-profit-making organisations (clubs and societies) 18 Departmental accounts 19 Manufacturing Accounts 20 Valuation of stock

vii ix 1 2 7 12 19 21 23 27 28 36 39 43 48 56 62 66 76 84 94 103 110 117 Contents v

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