By Alan Sangster
Have been you trying to find the booklet with entry to MyAccountingLab? This product is the publication by myself and doesn't include entry to MyAccountingLab. purchase Frank Wood's company Accounting quantity 1, thirteenth version with MyAccountingLab entry card (ISBN 9781292088549) if you want entry to MyAccountingLab besides, and save cash in this source. additionally, you will desire a direction identification out of your teacher to entry MyAccountingLab. 'An first-class publication, good written with every one bankruptcy construction logically at the final, permitting scholars to construct their wisdom in viable steps.' Stephen McNamee, college of Ulster The world's best-selling textbook on book-keeping and accounting, enterprise Accounting quantity 1 maintains to supply an imperative advent for college kids and pros around the globe. it truly is popular for its readability, with easy-to-understand language and a plethora of examples to assist your knowing. within the thirteenth version, that's absolutely compliant with foreign monetary Reporting criteria (IFRS), all themes were totally up to date, together with components reminiscent of computerised accounting, banking, and accounting recommendations and assumptions. With a new bankruptcy 2 on double access, and greater than a hundred new evaluate questions and actions, this variation includes all you must comprehend and consolidate the major innovations in accounting. MyAccountingLab subscribe to over eleven million scholars profiting from Pearson MyLabs. This identify may be supported via MyAccountingLab, an internet homework and instructional process designed to check and construct your realizing. do you want to exploit the ability of MyAccountingLab to speed up your studying? you wish either an entry card and a path identity to entry MyAccountingLab. those are the stairs you must take: 1. ensure that your lecturer is already utilizing the approach Ask your lecturer earlier than procuring a MyLab product as you'll want a direction identity from them prior to you could achieve entry to the procedure. 2. fee even if an entry card has been integrated with the booklet at a discounted rate If it has, will probably be at the inside of again conceal of the booklet. three. when you have a path identity yet no entry code, you could reap the benefits of MyAccountingLab at a discounted fee by means of paying for a pack containing a duplicate of the publication and an entry code for MyAccountingLab (ISBN:9781292088549) four. in the event that your lecturer is utilizing the MyLab and also you wish to buy the product...Go to www.myaccountinglab.com to shop for entry to this interactive examine programme. For educator entry, touch your Pearson consultant. to determine who your Pearson consultant is, stopover at www.pearsoned.co.uk/replocator
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Additional resources for Frank Wood’s Business Accounting
Without looking back, write down the commonly used form of the accounting equation. The statement of financial position shows the financial position of an organisation at a point in time. In other words, it presents a snapshot of the organisation at the date for which it was prepared. The statement of financial position is not the first accounting report to be prepared, nor the first that you will learn how to do, but it is a convenient place to start to consider accounting. Let's now look at how a series of transactions affects the statement of financial position.
4 Sale of an asset on time On 10 May 2015, goods that cost £600 were sold on time to J. Brown for the same amount. 'On time' means that Brown will pay for them later. e. inventory, and the creation of a new asset. A person who owes the business money is a debtor, and is described in the statement of financial position as an account receivable. The statement of financial position is now: B. Blake Statement of financial position as at 10 May 2015 Assets Shop Inventory Account receivable Cash at bank Less: Account payable Capital 12 £ 32,000 6,400 600 28,000 67,000 (7,000) 60,000 60,000 Chapter 1 • The background and the main features of financial accounting 5 Sale of an asset for immediate payment On 13 May 2015, goods that cost £400 were sold to D.
They want to know whether or not to invest their money in the business. • Creditors. They want to know if there is any risk of not being paid what they are due. 8 Chapter 1 • The background and the main features of financial accounting There are many other users of financial accounting information - suppliers and employees, for example. It is obvious that without properly recorded accounting data a business would have many difficulties providing the information these various users (often referred to as 'stakeholders') require.