Accounting An Introduction 6th Edition Atrill Solutions Manual

1. 1.1 Definition of accounting
2. 1.2 First: A bit of history
3. 1.2.1 The first accounting records
4. 1.2.2 Who was responsible for the creation of the double entry system?
5. 1.2.3 What is this book about?
6. 1.3 Demystifying the jargon
7. 1.4 The environment of accounting
8. 1.4.1 The purpose of an economic system
9. 1.4.2 Money as a unit of exchange
10. 1.4.3 The financial system
11. 1.5 Business organisations
12. 1.5.1 Classification of business by activity
13. 1.5.2 Setting up a business
14. 1.5.3 Operating a business
15. 1.6 The purpose of accounting
16. 1.6.1 Why is it necessary to create a record of transactions in a business?
17. 1.6.2 Who are the economic decision-makers, and what decisions do they need to make?
18. 1.6.3 What information will assist people in making economic decisions?
19. 1.6.4 How is financial information communicated?
20. What have we learnt in this chapter?
21. What’s next?
22. 2 The purpose of accounting
23. Learning objectives
24. 2.1 Key financial decisions
25. 2.1.1 Financing decisions
26. 2.1.2 Investing decisions
27. 2.1.3 Operating decisions
28. 2.1.4 Distribution decisions
29. 2.2 Understanding the statement of financial position
30. 2.2.1 Understanding more about assets
31. 2.2.2 Understanding more about liabilities
32. 2.2.3 Understanding more about equity
33. 2.3 Understanding profit or loss and comprehensive income
34. 2.3.1 Income and expenses
35. 2.3.2 Understanding accrual
36. 2.3.3 Understanding profit
37. 2.4 An introduction to statement of changes in equity
38. 2.5 Understand the statement of cash flows
39. What have we learnt in this chapter?
40. What’s next?
41. Questions
42. 3 The practice of accounting
43. Learning objectives
44. 3.1 The accounting equation in more detail
45. 3.2 The double entry principle
46. 3.3 What are source documents?
47. 3.3.1 Deposit slip
48. 3.3.2 Loan application
49. 3.3.3 Cheques
50. 3.3.4 Internet banking
51. 3.3.5 Cash receipt
52. 3.3.6 Credit sales/credit purchases invoice
53. 3.4 Journal entry
54. 3.5 Recording information in the general ledger
55. 3.5.1 What is the general ledger?
56. 3.6 Extracting a trial balance
57. 3.7 Closing entries
58. 3.8 Reviewing the accounting cycle
59. 3.8.1 Source documents
60. 3.8.2 Journal entries
61. 3.8.3 General ledger
62. 3.8.4 Trial balance
63. 3.8.5 Financial statements
64. 3.9 How do specialised journals form part of the accounting cycle?
65. 3.9.1 Cash Receipts journal
66. 3.9.2 Cash Payments journal
67. 3.9.3 Purchases journal
68. 3.9.4 Sales journal
69. 3.10 Pulling it all together
70. What have we learnt in this chapter?
71. What’s next?
72. Questions
73. 4 The conceptual framework
74. Learning objectives
75. 4.1 Generally accepted accounting practice
76. 4.2 The objective of financial reporting
77. 4.2.1 Who are the primary users of financial statements?
78. 4.2.2 Who else would be interested in the financial statements?
79. 4.2.2.1 Customers
80. 4.2.2.2 South African Revenue Services (SARS)
81. 4.2.2.3 Employees
82. 4.3 The going concern assumption
83. 4.4 Qualitative characteristics of useful financial information
84. 4.4.1 Fundamental qualitative characteristics
85. 4.4.1.1 Relevance
86. 4.4.1.2 Faithful representation
87. 4.4.2 Enhancing qualitative characteristics
88. 4.4.2.1 Comparability
89. 4.4.2.2 Timeliness
90. 4.4.2.3 Verifiability
91. 4.4.2.4 Understandability
92. 4.4.3 Will financial information always have all of the enhancing qualitative characteristics?
93. 4.5 Elements of the financial statements
94. 4.5.1 Assets
95. 4.5.2 Liabilities
96. 4.5.3 Equity
97. 4.5.4 Income and expenses
98. 4.6 Recognition criteria for the elements
99. 4.7 Derecognition of assets and liabilities
100. 4.8 Measurement bases
101. 4.8.1 Historical cost measurement
102. 4.8.2 Current value measurement
103. 4.8.2.1 Fair value
104. 4.8.2.2 Value in use (assets) and fulfillment values (liabilities)
105. 4.8.2.3 Current cost
106. 4.8.3 Deciding which measurement base to use when initially recognising an asset
107. 4.8.4 Subsequent measurement
108. 4.9 The accrual concept
109. What have we learnt in this chapter?
110. What’s next?
111. Questions
112. 5 Adjustments
113. Learning objectives
114. 5.1 Processing adjusting entries
115. 5.1.1 The accounting process
116. 5.2 Closing entries
117. 5.3 Understanding adjusting entries
118. 5.3.1 Accrued expenses
119. 5.3.2 Prepaid expenses
120. 5.3.3 Income accrued
121. 5.3.4 Income received in advance
122. 5.3.5 Depreciation
123. 5.3.6 Bad debts
124. 5.3.7 Allowance for doubtful debts
125. 5.4 Let’s pull it all together
126. 5.5 Reversal of adjusting journal entries
127. 5.5.1 Reversals for prepaid expenses
128. 5.5.2 Reversals for accrued expenses
129. 5.5.3 Reversals for income received in advance and accrued interest
130. What have we learnt in this chapter?
131. What’s next?
132. Questions
133. 6 Inventory
134. Learning objectives
135. 6.1 What is inventory?
136. 6.1.1 Definition of inventory
137. 6.1.2 Why is inventory an asset?
138. 6.1.3 When is inventory recognised as an asset?
139. 6.2 Calculating the cost at initial recognition
140. 6.2.1 Definition of “cost of inventory”
141. 6.2.2 So what is included in the cost of inventory?
142. 6.2.3 The impact of trade discount and settlement discount on the cost of inventory
143. 6.3 Recording inventory in the general ledger
144. 6.3.1 Inventory recording systems: perpetual versus periodic
145. 6.3.2 Recording inventory transactions in the general ledger
146. 6.4 Cost allocation methods − subsequent measurement of inventory
147. 6.4.1 The FIFO cost allocation method
148. 6.4.2 The weighted average cost allocation method
149. 6.4.3 Cost allocation methods − sales returns
150. 6.4.4 Cost allocation methods − purchase returns
151. 6.5 De-recognition of inventory
152. 6.6 Disclosure of inventory in the financial statements
153. 6.7 Selling price and cost price in more detail
154. 6.7.1 Understanding the difference between the stated mark-up and the actual gross profit
155. 6.7.2 Determining the selling price
156. What have we learnt in this chapter?
157. What’s next?
158. Questions
159. 7 Value added tax (VAT)
160. Learning objectives
161. 7.1 What is VAT?
162. 7.1.1 Tax invoice
163. 7.2 When does a business register as a VAT vendor?
164. 7.3 How is VAT calculated?
165. 7.4 How does the VAT system work?
166. 7.5 Is VAT another tax that my business must pay?
167. 7.6 How does VAT affect the records of a business?
168. 7.7 Recording VAT
169. 7.7.1 The general journal
170. 7.7.2 The general ledger
171. 7.7.3 The trial balance
172. 7.7.4 Statement of comprehensive income for the year ended 31 January X1
173. 7.7.5 Statement of financial position as at 31 January X1
174. 7.8 VAT and inventory
175. 7.8.1 VAT and the perpetual system
176. 7.8.2 VAT and the periodic system
177. What have we learnt in this chapter?
178. What’s next?
179. Useful web sites
180. Questions

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