Cover -- Accounting an Introduction -- Brief contents -- Detailed contents -- Preface -- How to use this book -- Guided tour of the book -- Guided tour of the Companion Website -- Acknowledgements -- Introduction to accounting and finance -- Objectives -- Introduction -- What are accounting and finance? -- Accounting and user needs -- The conflicting interests of users -- Not-for-profit organisations -- How useful is accounting information? -- Accounting as a service function -- The threshold of materiality -- Costs and benefits of accounting information -- Accounting as an information system -- Management and financial accounting -- Scope of this book -- Has accounting become too interesting? -- The changing nature of accounting -- Why do I need to know anything about accounting and finance? -- Forms of business unit -- Business objectives -- Summary -- Key terms -- Further reading -- Review Questions -- Financial accounting -- Measuring and reporting financial position -- Objectives -- Introduction -- The major financial statements -- an overview -- The balance sheet -- The effect of trading operations on the balance sheet -- The classification of assets -- The classification of claims -- Balance sheet formats -- Self-Assessment Question 2.1 -- The balance sheet as a position at a point in time -- Accounting conventions and the balance sheet -- Accounting for goodwill and product brands -- The basis of valuation of assets on the balance sheet -- Interpreting the balance sheet -- Summary -- Key terms -- Further reading -- Review Questions -- Exercises -- Measuring and reporting financial performance -- Objectives -- Introduction -- The profit and loss account (income statement) -- Relationship between the profit and loss account and the balance sheet -- The format of the profit and loss account -- The profit and loss account -- some further aspects -- Profit measurement and the recognition of revenue -- Profit measurement and the recognition of expenses -- Profit measurement and the calculation of depreciation -- Profit measurement and stock (inventories) costing methods -- Profit measurement and the problem of bad and doubtful debts -- Self-Assessment Question 3.1 -- Interpreting the profit and loss account -- Summary -- Key terms -- Further reading -- Review Questions -- Exercises -- Accounting for limited companies (1) -- Objectives -- Introduction -- Generating wealth through limited companies -- Managing a company -- corporate governance and the role of directors -- Financing limited companies -- Altering the nominal value of shares -- Raising share capital -- Loans and other sources of finance -- Restriction on the right of shareholders to make drawings of capital -- Accounting for limited companies -- Self-Assessment Question 4.1 -- Summary -- Key terms -- Further reading -- Reference -- Review Questions -- Exercises -- Accounting for limited co.