Core Principles of Accounting: An Introduction

Product Details:
Author(s):
Marimuthu, F ,
Ngiba, B ,
Rafube, T ,
Mbalati, L ,
Ramsarghey, A ,
Ramolobe, M ,
Bentswana, L ,
Robinson, A and
Wanjau, D
Year Published:
2022
Edition
1st Edition
Type:
Print | Soft Cover
Language:
English
About this publication
Core Principles of Accounting – an Introduction aims to provide southern African students with a decolonised teaching and learning experience. While the science behind the discipline of accountancy is complex to decolonise, especially because many countries have adopted the International Financial Reporting Standards (IFRS), an effort has been made by the authors of Core Principles of Accounting – an Introduction to contextualise the study of accounting to a more relatable world view. This is achieved by demystifying the accounting principles thus ensuring that most students can relate to the transactions and the application of the IFRS standard.
Core Principles of Accounting – an Introduction discusses the recent developments in accounting in Africa. The textbook includes the latest definitions in accounting as per the Revised Conceptual Framework of the IASB (2018b). The names and types of businesses, as well as examples and scenarios provided will resonate with South
African students from various backgrounds as they are familiar to the South African environment.
Accounting principles have been simplified to be understandable even to students who did English as a second language. Each chapter begins with a preamble that introduces the concepts or principles discussed in the chapter. The textbook is accompanied by separate suggested solutions to the chapter exercises, extra multiple choice questions to support the students learning process, as well as power point slides to support lecturers.
Support material is made available to lecturers at prescribing institutions.
 
Content
The basic principles of accounting
Recording of transactions
Different journals and posting to the ledger
Trial balance, adjustments and closing transfers
Cash and Cash equivalents
Credit transactions
Inventories-  Inventory methods and stock cards (FIFO, Weighted average, Specific identification)
Financial statements of Sole Traders
Financial statements of Partnerships
Financial statements of Close Corporations
Financial statements of Companies
Manufacturing entities
Non-profit Organisations
Branches
Incomplete records
 
Interest / Benefit to
Undergraduate students