Accounting: Building Business Skills
Users and uses of financial information.
Interrelationships of statements.
The financial reporting environment.
Concepts, principles and qualitative characteristics.
Analysing financial statements.
Chapter 2: The Accounting Information System.
The Accounting Information System.
Accounting Transactions and Events.
Steps in the Recording Process.
The Recording Process Illustrated.
The Trial Balance.
Chapter 3: Accrual Accounting Concepts.
The Basics of Adjusting Entries.
The Adjusted Trial Balance and Financial Statements.
Closing the Books.
Summary of the Accounting Cycle.
Appendix: Adjusting Entries – Using a Work Sheet.
Chapter 4: Inventories.
Recording Purchases of Inventories.
Recording Sales of Inventories.
Income Statement Presentation.
Overview of the GST Process.
Accounting for the Goods and Services Tax.
Chapter 5: Reporting and Analysing Inventory.
Periodic Inventory System.
Inventory Cost Flow Methods – Periodic system.
Valuing Inventory at the Lower of Cost and Net Realisable Value.
Analysis of Inventory.
Appendix 5A: Inventory Cost Flow Methods – Perpetual system.
First-in, First-out (FIFO).
Last-in, First-out (LIFO).
Appendix 5B: Inventory Errors.
Effects on profit.
Effects on assets and equity.
Appendix 5C: Closing entries for merchandising firms.
Chapter 6: Accounting Sub-Systems.
Basic Concepts of Accounting Information Systems.
Control Accounts and Subsidiary Ledgers.
Computerised Accounting Information Systems.
Chapter 7: Internal control, Cash & Receivables.
Assessing Cash Adequacy.
Appendix A – Operation of the petty cash fund.
Chapter 8: Reporting & Analysing Non-current Assets.
Property, Plant and Equipment.
Other Non-current Assets.
Reporting and Analysing Issues.
Chapter 9: Reporting & Analysing Liabilities.
Loans payable by instalment.
Provisions and contingent liabilities.
Financial Statement Analysis.
Chapter 10: Reporting and analysing equity.
The corporate forma of organisation.
Reporting on shareholder’s equity.
Financial statement analysis and decision making.
Debt versus equity financing decisions.
Chapter 11: Statement of Cash Flows.
The Statement of Cash Flows: Purpose and Format.
Preparing the Statement of Cash Flows.
Using Cash Flows to Evaluate a Company.
Chapter 12: Financial Statement Analysis.
Earning Power and Irregular Items.
Limitations of Financial Statement Analysis.
Chapter 13: Introduction to Management Accounting.
Management Accounting Basics.
Management Cost Concepts.
Manufacturing Costs in Financial Statements.
Contemporary Developments in Management Accounting.
Chapter 14: Cost Accounting Systems.
Cost Accounting Systems.
Job Order Costing.
Chapter 15: Cost Volume Profit Relationships.
Cost Behaviour Analysis.
Chapter 16: Budgeting.
Preparing the Operating Budgets.
Preparing the Budgeted Financial Statements.
Budgeting in Non-manufacturing Entities.
The Concept of Responsibility Accounting.
Types of Responsibility Centres.
Chapter 17: Incremental Analysis and Capital Budgeting.
Steps in Management Decision Making.
Types of Incremental Analysis.