Contents

Chapter 1 Accounting for Branches

1.1 Background
1.2 Accounting Records and Branches
1.3 If Headquarters Maintains All the Accounting Records
1.4 Methods for Checking Inventory and Cash
1.5 Allowances for Deficiencies
1.6 The Double Column System
1.7 The Inventory and Accounts Receivable System
1.8 The Inventory and Accounts Receivable Integrated Method-Further Points
1.9 If Each Branch Maintains Full Accounting Records
1.10 Profit or Loss and Current Accounts
1.11 The Combined Balance Sheet
1.12 Items in Transit
1.13 Items in Transit and the Balance Sheet
1.14 Foreign Branch Accounts
1.15 IAS 21 The Effects of Changes in Foreign Exchange Rates

Chapter 2 Hire Purchase Accounts Management

2.1 Nature of Hire Purchase
2.2 Law of Hire Purchase
2.3 Interest Payable on Hire Purchase
2.4 Accounting for Hire Purchase
2.5 Illustrations of Purchaser’s Accounts
2.6 Depreciation and Assets Bought on Hire Purchase
2.7 Balance Sheets and Assets Bought on Hire Purchase
2.8 A Fully Worked Example
2.9 The Seller’s Books: Apportionment of Profits
2.10 The Seller’s Books: Accounts Needed
2.11 Repossessions
2.12 IAS 17 Leases

Chapter 3 Contract Accounts

3.1 Financial Statements and the Business Cycle
3.2 Contract Accounts
3.3 Certification of Work Done
3.4 Allocation of Overheads
3.5 A Worked Example of A Contract Account
3.6 Profit Estimation
3.7 Anticipated Losses
3.8 Long-Term Contracts and Accounting Standards

Chapter 4 Limited Companies: General Background

4.1 Preliminary Study
4.2 The Companies Acts
4.3 Changes in Company Law
4.4 Other Forms of Company
4.5 Separate Legal Entity
4.6 Memorandum and Articles of Association and Company Registration
4.7 Limited Liability
4.8 Classes of Shares
4.9 Distributable Profits
4.10 A Company’s Constitution
4.11 Public Companies and the Stock Exchange