Aat Study Text: Final Paper 9 - Financial Accounting (7/90): (AAT Study Texts)

One of a series of regularly updated Study Texts providing coverage of the examinations of the Association of Accounting Technicians, this workbook covers the entire syllabus and includes numerous questions from past examinations with full suggested solutions. Key sections deal with practical accounting (including incomplete records, branch accounts, hire purchase accounts and accounting for the issue and redemption of shares), statements of standard accounting practice, the published accounts of limited companies, group accounts and the analysis and evaluation of financial statements.

Table of Contents:
Part 1 Practical accounting: incomplete records; partnership - general principles; partnership - amalgamation; partnership - dissolution and conversion to a limited company; joint venture accounts; consignment accounts; royalty accounts; container accounts; branch accounts - records in head office books; branch accounts - separate entity; hire purchase and leasing; issue of shares and debentures; redemption of shares and debentures. Part 2 Company accounts: introduction to the accounts of limited companies - accounting principles and SSAP2; fixed assets - tangible assets - SSAP12 accounting for depreciation, disclosure requirements of SSAP12, SSAP19 accounting for investment properties, SSAP4 the accounting treatment of government grants, IAS 23 capitalisation of borrowing costs; fixed assets - intangible assets and investments - the requirements of CA 1985, SSAP13 accounting for research and development, SSAP22 accounting for goodwill; stocks and work in progress - FIFO and LIFO; taxation in company accounts - advance corporation tax (ACT), surplus ACT; accounting for value added tax; accounting for post balance sheet events; accounting for contingencies; miscellaneous balance sheet disclosures; the profit and loss account; modified accounts; the directors' report; an approach to published accounts questions. Part 3 Group accounts; constitution of a group; the balance sheet - basic principles; the balance sheet - acquisition of subsidiaries; the balance sheet - inter-company profits; the consolidated profit and loss account. Part 4 Analysis and evaluation of financial statements: budgets - cash flow, profit and loss account and balance sheet; statements of source and application of funds; interpretation of accounts - ratio analysis; the operating cycle and working capital ratios; limitations of historical cost accounts.