Frank Wood’s Business Accounting 2, 13th Edition

“This is an ideal technical accounting textbook, broken into short chapters that focus on specific areas” Elayne Taylor, University of Dundee “Comprehensive text for studying business accounting from elementary to intermediate levels” Stephen Hick, University of Keele Every year, thousands of students rely on Frank Wood’s best-selling books to help them pass their accountancy exams. Now in its 13th edition, Business Accounting Volume 2 continues to offer an essential guide for any accounting student. Its accessible approach makes the book suitable for a wide variety of courses in accounting and business, both at secondary and tertiary level and for those studying for professional qualifications. Key concepts from financial accounting, financial analysis, financial reporting, and management accounting are all covered in this comprehensive and practical text. New to this edition: Coverage of Integrated Reporting New chapter on theories of accounting choice Over 120 new questions to test your understanding Updated to be fully compliant with International Financial Reporting Standards (IFRS). Key Features: Over 350 review questions, including past examination board questions Easy-to-follow explanations of contemporary accounting practice Activities designed to reinforce the understanding of key concepts Clear and logical progression through topics

Table of Contents

Part 1: Special accounts
Chapter 1: Accounting for branches
Chapter 2:Purchases by instalments
Chapter 3: Contract accounts

Part 2: Companies
Chapter 4: Limited companies: general background
Chapter 5: The issue of shares and loan notes
Chapter 6: Companies purchasing and redeeming their own shares and loan notes
Chapter 7: Limited companies taking over other businesses
Chapter 8: Taxation in company financial statements
Chapter 9: Provisions, reserves and liabilities
Chapter 10: The increase and reduction of the share capital of limited companies
Chapter 11: Accounting standards, related documents and accounting ethics
Chapter 12: The financial statements of limited companies: statements of profit or loss, related statements and notes
Chapter 13: The financial statements of limited companies: statements of financial position
Chapter 14: Published financial statements of limited companies: accompanying notes
Chapter 15: Statements of cash flows

Part 3: Groups
Chapter 16: Group financial statements: an introduction
Chapter 17: Consolidation of statements of financial position: basic mechanics (I)
Chapter 18: Consolidation of statements of financial position: basic mechanics (II)
Chapter 19: Intercompany dealings: indebtedness and unrealised profit in inventory
Chapter 20: Consolidated financial statements: acquisition of shares in subsidiaries at different dates
Chapter 21: Intra-group dividends
Chapter 22: Consolidated statements of financial position: sundry matters
Chapter 23: Consolidation of the financial statements of a group of companies
Chapter 24: Consolidated statements of profit or loss and statements of comprehensive income
Chapter 25: Business combinations: purchase method accounting
Chapter 26: Standards covering subsidiaries, associates and joint arrangements

Part 4: Financial calculations and analysis
Chapter 27: Interest, annuities and leasing
Chapter 28: Accounting ratios
Chapter 29: Interpretation of financial information

Part 5: Issues in financial reporting
Chapter 30: Theories of accounting-related choice
Chapter 31: Theories of accounting practice
Chapter 32: Current cost accounting
Chapter 33: Social and environmental reporting and integrated reporting
Chapter 34: Corporate governance
Chapter 35: Public sector accounting
Chapter 36: Accounting for management control

Part 6: The emerging business environment of accounting
Chapter 37: The supply chain and enterprise resource planning systems
Chapter 38: E-commerce and accounting
Chapter 39: Forensic accounting

Part 7: Costing
Chapter 40: Elements of costing
Chapter 41: Absorption and marginal costing
Chapter 42: Job, batch and process costing

Part 8: Budgets
Chapter 43: Budgeting and budgetary control
Chapter 44: Cash budgets
Chapter 45: Co-ordination of budgets

Part 9: Standard costing and variance analysis
Chapter 46: Standard costing
Chapter 47: Materials and labour variances
Chapter 48: Overhead and sales variances

Part 10: Planning, control and decision-making
Chapter 49: Breakeven analysis
Chapter 50: Capital expenditure appraisal
Chapter 51: The balanced scorecard

Appendix 1: Interest tables
Appendix 2: Answers to review questions
Appendix 3: Glossary