The Institute of Chartered Accountants in England and Wales, for exams in 2020. Accounting.

Accounting 2020 Study ManualThe study manual covers the following topics (as examinable in the ICAEW syllabus for each module): Introduction to accounting - The purpose of accounting information, The regulation of accounting, The main financial statements, Capital and revenue items, Qualitative characteristics of useful accounting information, Accounting concepts and conventions and, Ethical considerations. The accounting equation - Assets, liabilities and the business entity concept, The accounting equation, Credit transactions, The statement of financial position, Preparing the statement of financial position and The statement of profit or loss. Recording financial transactions – Computerised accounting systems, Source documents for recording financial transactions, Recording bank transactions, Petty cash book and The payrollLedger accounting and double entry - Ledgers, The nominal ledger, Double entry bookkeeping, Journal entries, Double entry for petty cash, The receivables and payables ledgers, Accounting for discounts and Accounting for VATPreparing basic financial statements – The trial balance, Balancing off ledger accounts, Preparing the statement of profit or loss, Preparing the statement of financial position and Preparing basic financial statementsErrors and corrections to accounting records and financial statements – Reconciling to external documents, Bank reconciliations, Types of error in accounting, Correcting errors and Adjusting the initial trial balance for errorsCost of sales and inventories - IAS 2 Inventories (FRS 102 s13), Cost of sales, Accounting for opening and closing inventories, Adjusting the trial balance, Counting inventories, Valuing inventories, Using mark-up/margin percentages to establish cost and Inventory drawingsIrrecoverable debts and allowances for receivables - Irrecoverable debts, Allowances for receivables, Accounting for irrecoverable debts and allowance for receivables and, Adjusting the trial balance for irrecoverable debts and allowance for receivablesAccruals and prepayments – The Principles behind accruals and prepayments, Accruals, Prepayments, Accounting for accruals and prepayments, The accrual principle and income and Accruals, prepayments, advances and arrears on the trial balanceNon-current assets and depreciation – Tangible non-current assets and depreciation (IAS 16) (FRS 102 s17), The objective of depreciation, Calculating depreciation, Accounting for depreciation, Non-current asset disposals, The asset register, Intangible non-current assets and The non-current assets note to the statement of financial position Company financial statements - The nature of a limited company, Equity: share capital, Equity: retained earnings and other reserves, Dividends, Rights issues and bonus issues of shares, Non-current liabilities, Provisions (IAS 37 (FRS 102 s21), Tax, Revenue (IFRS 15) (FRS 102 s23) and The regulatory framework for company financial statements Company financial statements under IFRS – The statement of profit or loss (IAS 1), The statement of financial position (IAS 1), The statement of changes in equity (IAS 1) and Applying the IAS 1 formats Statement of cash flows – Statement of cash flows (IAS 7) (FRS 102 s7), Format of the statement of cash flows and Preparing a statement of cash flowsCompany financial statements under UK GAAP - What is UK GAAP, Published accounts and UK GAAP terminology and formatsSole trader and partnership financial statements under UK GAAP - Sole trader financial statements, Partnerships, Preparing partnership accounts and Accounting for changes in partnership structure