Basics of Accounting

Carsten Berkau

doi:10.24053/9783739881836-0

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Copyright year: 2021
ISBN-Print: 978-3-7398-3183-1
ISBN-Online: 978-3-7398-8183-6
Publisher: uvk, Konstanz/München
Language: English
Pages: 620
Product type: Book Titles

Titelei/Inhaltsverzeichnis No access Pages 1 - 18
II Introduction No access Pages 19 - 20
1. 1.1 Accounting Periods No access
2. 1.2 Accounting Technical Terms No access
3. 1.3 Account Names No access
4. 1.4 Alphabetic Order No access
5. 1.5 Basics No access
6. 1.6 Bookkeeping Entries No access
7. 1.7 Bookkeeping Entry Format No access
8. 1.8 Calculations No access
9. 1.9 Case Studies (C/S) No access
10. 1.10 Case Study Text No access
11. 1.11 Cash Flow Separation No access
12. 1.12 Companies No access
13. 1.13 Cost-Expense-Congruence No access
14. 1.14 Country No access
15. 1.15 Currency Unit No access
16. 1.16 Data Format in Tables No access
17. 1.17 Prepayments of Income Taxes No access
18. 1.18 How it is Done No access
19. 1.19 Income Taxes No access
20. 1.20 Financial Statements for Taxation No access
21. 1.21 Names No access
22. 1.22 Language No access
23. 1.23 Learning Objectives and Summaries No access
24. 1.24 Legal Forms of a Business No access
25. 1.25 Length of a Month/Year No access
26. 1.26 Level of Precision No access
27. 1.27 Literature No access
28. 1.28 Non-existing Items No access
29. 1.29 Online Materials No access
30. 1.30 Payment Terms No access
31. 1.31 Presentation of Accounts No access
32. 1.32 Proportional Calculation of Depreciation and Interest No access
33. 1.33 Question Bank No access
34. 1.34 Quotation of Law Texts/Standards No access
35. 1.35 Sequence of Bookkeeping Entries No access
36. 1.36 Tax on Capital Returns (Dividend Tax) No access
37. 1.37 Transaction Costs No access
38. 1.38 Value Added Tax, Goods and Service Tax No access
39. 1.39 VAT Reduction No access
40. 1.40 Working Definition(s) No access
41. 1.41 Work-in-Process Account No access
42. 1.42 Writing Management Terms No access
43. 1.43 WWW No access
44. 1.44 Youtube Videos No access
45. 1.45 10-20-30 Rule No access
1. 2.1 What is in the Chapter? No access
2. 2.2 Learning Objective No access
3. 2.3 Statement of Financial Position No access
4. 2.4 Our first Balance Sheet No access
5. 2.5 Accounting Equation No access
6. 2.6 Income Statement No access
7. 2.7 Reading Financial Statements No access
8. 2.8 C/S NEWINGTON Ltd No access
9. 2.9 What is on the Balance Sheet’s Asset side? No access
10. 2.10 What is on the Capital and Liabilities Side of the Balance Sheet? No access
11. 2.11 What is on the Income Statement? No access
12. 2.12 What is on the Statement of Cash Flows? No access
13. 2.13 What is on the Statement of Changes in Equity? No access
14. 2.14 C/S KENSINGTON No access
15. 2.15 Summary No access
16. 2.16 Working Definitions No access
17. 2.17 Question Bank No access
18. 2.18 Solutions No access
1. 3.1 What is in the Chapter? No access
2. 3.2 Learning Objective No access
3. 3.3 McDonald's Corp No access
4. 3.4 Summary No access
5. 3.5 Working Definition No access
6. 3.6 Question Bank No access
7. 3.7 Solutions No access
1. 4.1 What is in the Chapter? No access
2. 4.2 Learning Objectives No access
3. 4.3 Who prepares Financial Statements? No access
4. 4.4 How to Establish a German Limited Company No access
5. 4.5 Necessity to Prepare Financial Statements No access
6. 4.6 Scope of IFRSs No access
7. 4.7 What are the Standards? No access
8. 4.8 Difference between HGB and IFRSs No access
9. 4.9 Summary No access
10. 4.10 Working Definitions No access
11. 4.11 Question Bank No access
12. 4.12 Solutions No access
1. 5.1 What is in the Chapter? No access
2. 5.2 Learning Objectives No access
3. 5.3 Accounting Software No access
4. 5.4 Accounting with MS-Excel No access
5. 5.5 Acc (Accounts) No access
6. 5.6 JL (Journal) No access
7. 5.7 TB (Trial Balance) No access
8. 5.8 BS (Statement of Financial Position) No access
9. 5.9 Ger BS (German Balance Sheet) No access
10. 5.10 IS (Statement of Comprehensive Income) No access
11. 5.11 Ger-IS (German Income Statement) No access
12. 5.12 CFS (Statement of Cash Flows) No access
13. 5.13 SCE (Statement of Changes in Equity) No access
14. 5.14 RoA (Register of non-current Assets) No access
15. 5.15 Int&Pay-off (Interest and Pay-off Schedule) No access
16. 5.16 PCB (Petty Cash Book) No access
17. 5.17 CB (Cash Book) No access
18. 5.18 BankST (Bank statement) No access
19. 5.19 Cons (Consolidation) No access
20. 5.20 BP (Business Plan) No access
21. 5.21 Summary No access
1. 6.1 What is in the Chapter? No access
2. 6.2 Learning Objectives No access
3. 6.3 Approach to Accounting No access
4. 6.4 Asset Side of the Balance Sheet No access
5. 6.5 Capital and Liability Side of the Balance Sheet No access
6. 6.6 Income Statement No access
7. 6.7 Summary No access
8. 6.8 Working Definitions No access
9. 6.9 Question Bank No access
10. 6.10 Solutions No access
1. 7.1 What is in the Chapter? No access
2. 7.2 Learning Objectives No access
3. 7.3 Asset Exchanges No access
4. 7.4 C/S ROHRBACH Ltd No access
5. 7.5 Activity 1: Purchase on Cash No access
6. 7.6 Activity 2: Acquisition of Equipment on Cash No access
7. 7.7 Activity 3: Cash Sale No access
8. 7.8 Activity 4: Disposal of non-current assets No access
9. 7.9 Summary No access
10. 7.10 Working Definitions No access
11. 7.11 Question Bank No access
12. 7.12 Solutions No access
1. 8.1 What is in the Chapter? No access
2. 8.2 Learning Objectives No access
3. 8.3 Activities Changing Balance Sheet Items No access
4. 8.4 C/S EDENVALE AG No access
5. 8.5 Activity 1: Establishment of the Business No access
6. 8.6 Activity 2: Purchase of Goods No access
7. 8.7 Activity 3: Borrowing Money from the Bank No access
8. 8.8 Activity 4: Acquisition of non-current Assets No access
9. 8.9 Activity 5: Payment of Debts No access
10. 8.10 Activity 6: Selling Goods No access
11. 8.11 Activity 7: Receipts from Customers No access
12. 8.12 Activity 8: Payment for Debts No access
13. 8.13 Effects of the Activities No access
14. 8.14 Summary No access
15. 8.15 Working Definitions No access
16. 8.16 Question Bank No access
17. 8.17 Solutions No access
1. 9.1 What is in the Chapter? No access
2. 9.2 Learning Objectives No access
3. 9.3 Profit Calculation No access
4. 9.4 C/S RIVERGATE (Pty) Ltd No access
5. 9.5 Taxable Profit No access
6. 9.6 Retained Earnings No access
7. 9.7 C/S PELZERHAGEN (Pty) Ltd No access
8. 9.8 Activity 1: Payment for Rent No access
9. 9.9 Activity 2: Payment for Labour No access
10. 9.10 Activity 3: Acquisition on Credit Followed by Depreciation No access
11. 9.11 Activity 4: Rendering Service and Cash Receipt No access
12. 9.12 Income Tax Calculation No access
13. 9.13 Summary No access
14. 9.14 Working Definitions No access
15. 9.15 Question Bank No access
16. 9.16 Solutions No access
1. 10.1 What is in the Chapter? No access
2. 10.2 Learning Objectives No access
3. 10.3 Overview No access
4. 10.4 T-Accounts No access
5. 10.5 Balancing-off No access
6. 10.6 Real and Nominal Accounts No access
7. 10.7 Basics-Chart of Accounts No access
8. 10.8 Applying T-Accounts for ROHRBACH Ltd No access
9. 10.9 Applying T-Accounts for EDENVALE AG No access
10. 10.10 Summary No access
11. 10.11 Working Definitions No access
12. 10.12 Question Bank No access
13. 10.13 Solutions No access
1. 11.1 What is in the Chapter? No access
2. 11.2 Learning Objectives No access
3. 11.3 Applying Nominal Accounts No access
4. 11.4 Closing-off Accounts No access
5. 11.5 C/S PELZERHAGEN (Pty) Ltd No access
6. 11.6 Calculation of Income Tax No access
7. 11.7 Transfer of Profit or Loss to Equity No access
8. 11.8 Summary No access
9. 11.9 Working Definition No access
10. 11.10 Question Bank No access
11. 11.11 Solutions No access
1. 12.1 What is in the Chapter? No access
2. 12.2 Learning Objectives No access
3. 12.3 Formal Description of Bookkeeping Entries No access
4. 12.4 Double Entry System No access
5. 12.5 Common Regulations for Bookkeeping No access
6. 12.6 Bookkeeping Entries at ROHRBACH Ltd No access
7. 12.7 Bookkeeping Entries at EDENVALE AG No access
8. 12.8 Bookkeeping Entries at PELZERHAGEN (Pty) Ltd No access
9. 12.9 Summary No access
10. 12.10 Working Definitions No access
11. 12.11 Question Bank No access
12. 12.12 Solutions No access
1. 13.1 What is in this Chapter? No access
2. 13.2 Learning Objectives No access
3. 13.3 Asset Recognition No access
4. 13.4 Non-current Assets No access
5. 13.5 Current Assets No access
6. 13.6 Summary No access
7. 13.7 Working Definitions No access
8. 13.8 Question Bank No access
9. 13.9 Solutions No access
1. 14.1 What is in the Chapter? No access
2. 14.2 Learning Objectives No access
3. 14.3 Equity Section on the Balance Sheet No access
4. 14.4 Issued Capital No access
5. 14.5 Reserves No access
6. 14.6 Retained Earnings No access
7. 14.7 Summary No access
8. 14.8 Working Definitions No access
9. 14.9 Question Bank No access
10. 14.10 Solutions No access
1. 15.1 What is in the Chapter? No access
2. 15.2 Learning Objectives No access
3. 15.3 Liabilities No access
4. 15.4 Effective Interest Calculation No access
5. 15.5 Disclosure of Liabilities No access
6. 15.6 Annuities ..................................................................................................... 15 No access
7. 15.7 Bank Loans with constant Pay-offs No access
8. 15.8 Leases No access
9. 15.9 Bonds No access
10. 15.10 Down Payments and Partial Payments No access
11. 15.11 Provisions No access
12. 15.12 Income tax liabilities .................................................................................. 15 No access
13. 15.13 Summary No access
14. 15.14 Working Definitions No access
15. 15.15 Question Bank No access
16. 15.16 Solutions No access
1. 16.1 What is in the Chapter? No access
2. 16.2 Learning Objectives No access
3. 16.3 Account Structure No access
4. 16.4 Asset Management No access
5. 16.5 Reconciliation Account No access
6. 16.6 C/S DAGBREEK Ltd. (Asset Management) No access
7. 16.7 C/S RETIEF (Pty) Ltd No access
8. 16.8 Purchase and Sales Ledger No access
9. 16.9 C/S DESPATCH Ltd No access
10. 16.10 C/S SCHECKTER Ltd No access
11. 16.11 Summary No access
12. 16.12 Working Definitions No access
13. 16.13 Question Bank No access
14. 16.14 Solutions No access
1. 17.1 What is in this Chapter? No access
2. 17.2 Learning objectives No access
3. 17.3 Regulations for Depreciation No access
4. 17.4 Depreciation Parameters No access
5. 17.5 Straight-line Method No access
6. 17.6 Recording Depreciation No access
7. 17.7 Register of Non-Current Assets No access
8. 17.8 C/S FAIRBRIDGE Ltd No access
9. 17.9 Declining Method for Depreciation No access
10. 17.10 C/S KROLLER Ltd No access
11. 17.11 Depreciation Following Asset Deployment No access
12. 17.12 C/S FLYSCHER Ltd No access
13. 17.13 Summary No access
14. 17.14 Working Definitions No access
15. 17.15 Question Bank No access
16. 17.16 Solutions No access
1. 18.1 What is in the Chapter? No access
2. 18.2 Learning Objectives No access
3. 18.3 Prepaid Expenses No access
4. 18.4 C/S SIMONI Ltd No access
5. 18.5 Summary No access
6. 18.6 Question Bank No access
7. 18.7 Solutions No access
1. 19.1 What is in the Chapter? No access
2. 19.2 Learning Objectives No access
3. 19.3 Pay-days No access
4. 19.4 Components of Labour No access
5. 19.5 Net Salary No access
6. 19.6 Gross Salary No access
7. 19.7 Assumptions No access
8. 19.8 Case study SUIDERLAND Ltd No access
9. 19.9 Piecework Labour No access
10. 19.10 C/S CLARITON Ltd No access
11. 19.11 Accruals for Piecework Labour No access
12. 19.12 Summary No access
13. 19.13 Working Definitions No access
14. 19.14 Question Bank No access
15. 19.15 Solutions No access
1. 20.1 What is in the Chapter? No access
2. 20.2 Learning Objectives No access
3. 20.3 Bookkeeping Entries for Trading Business No access
4. 20.4 C/S APPLEDENE (Pty) Ltd No access
5. 20.5 Accounting for Returns Outwards No access
6. 20.6 C/S KLIPFONTAIN Ltd No access
7. 20.7 Summary No access
8. 20.8 Working Definitions No access
9. 20.9 Question Bank No access
10. 20.10 Solutions No access
1. 21.1 What is in the Chapter? No access
2. 21.2 Learning Objectives No access
3. 21.3 Value Added Tax VAT No access
4. 21.4 How to Calculate input-VAT No access
5. 21.5 C/S APPLEDENE (Pty) Ltd No access
6. 21.6 VAT Consideration for Returns Outwards No access
7. 21.7 C/S KLIPFONTEIN Ltd No access
8. 21.8 Summary No access
9. 21.9 Working Definitions No access
10. 21.10 Question Bank No access
11. 21.11 Solutions No access
1. 22.1 What is in the Chapter? No access
2. 22.2 Learning Objectives No access
3. 22.3 Revenue Recognition No access
4. 22.4 Trading Account No access
5. 22.5 C/S APENDORP (Pty) Ltd No access
6. 22.6 C/S DURANT (Pty) Ltd No access
7. 22.7 Summary No access
8. 22.8 Working Definitions No access
9. 22.9 Question Bank No access
10. 22.10 Solutions No access
1. 23.1 What is in the Chapter? No access
2. 23.2 Learning Objectives No access
3. 23.3 How to Record Output-VAT No access
4. 23.4 C/S APENDORP (Pty) Ltd No access
5. 23.5 C/S DURANT (Pty) Ltd No access
6. 23.6 Summary No access
7. 23.7 Question Bank No access
8. 23.8 Solutions No access
1. 24.1 What is in the Chapter? No access
2. 24.2 Learning Objectives No access
3. 24.3 Why running a Private Business? No access
4. 24.4 Drawings No access
5. 24.5 Balance Sheet for a privately-owned Company No access
6. 24.6 How to Record a Drawing No access
7. 24.7 C/S T.L. vanGuard No access
8. 24.8 C/S PAROW HOUTBANK No access
9. 24.9 Summary No access
10. 24.10 Working Definitions No access
11. 24.11 Question Bank No access
12. 24.12 Solutions No access
1. 25.1 What is in the Chapter? No access
2. 25.2 Learning Objectives No access
3. 25.3 Inventory Valuation and Recording No access
4. 25.4 C/S REGENT BIKE (Pty) Ltd No access
5. 25.5 Summary No access
6. 25.6 Working Definitions No access
7. 25.7 Question Bank No access
8. 25.8 Solutions No access
1. 26.1 What is in the Chapter? No access
2. 26.2 Learning Objectives No access
3. 26.3 Recall of the Periodic Inventory System No access
4. 26.4 Perpetual Inventory System No access
5. 26.5 C/S WITSAND (Pty) Ltd. - Periodic Inventory System No access
6. 26.6 C/S WITSAND (Pty) Ltd. - Perpetual Inventory System No access
7. 26.7 Summary No access
8. 26.8 Working Definitions No access
9. 26.9 Question Bank No access
10. 26.10 Solutions No access
1. 27.1 What is in the Chapter? No access
2. 27.2 Learning Objectives No access
3. 27.3 Cost Formulas No access
4. 27.4 C/S MALGAS (Pty) Ltd No access
5. 27.5 Application of Weighted Average (A) No access
6. 27.6 Application of First-In-First-Out (B) No access
7. 27.7 Application of Last-In-First-Out (C) No access
8. 27.8 Summary No access
9. 27.9 Working Definitions No access
10. 27.10 Question Bank No access
11. 27.11 Solutions No access
1. 28.1 What is in the Chapter? No access
2. 28.2 Learning Objectives No access
3. 28.3 Statement of Profit or Loss and Other Comprehensive Income No access
4. 28.4 Nature of Expense Method No access
5. 28.5 Cost of Sales Format No access
6. 28.6 Similarities/Differences No access
7. 28.7 Application of NoE and COS No access
8. 28.8 C/S ASHTON Ltd No access
9. 28.9 C/S ASHTON Ltd. – Nature of Expense Method (NoE) No access
10. 28.10 C/S ASHTON Ltd. – Cost of Sales Format (COS) No access
11. 28.11 C/S MONTAGU (Pty) Ltd No access
12. 28.12 Summary No access
13. 28.13 Working Definitions No access
14. 28.14 Question Bank No access
15. 28.15 Solutions No access
1. 29.1 What is in the Chapter? No access
2. 29.2 Learning Objectives No access
3. 29.3 How to Prepare a Trial Balance No access
4. 29.4 C/S PENTZ Ltd No access
5. 29.5 Step (A): Making Bookkeeping Entries No access
6. 29.6 Step (B): Preparing the Trial Balance No access
7. 29.7 Step (C): Checking the Trial Balance No access
8. 29.8 Step (D): Making Adjustments No access
9. 29.9 Step (E): Preparing the Adjusted Trial Balance No access
10. 29.10 Step (F): Deriving Financial Statements No access
11. 29.11 Summary No access
12. 29.12 Working Definitions No access
13. 29.13 Question Bank No access
14. 29.14 Solutions No access
1. 30.1 What is in the Chapter? No access
2. 30.2 Learning Objectives No access
3. 30.3 Profit Appropriation No access
4. 30.4 Auditing No access
5. 30.5 C/S RAATS Ltd No access
6. 30.6 Statement of Changes in Equity No access
7. 30.7 Summary No access
8. 30.8 Working Definitions No access
9. 30.9 Question Bank No access
10. 30.10 Solutions No access
1. 31.1 What is in the Chapter? No access
2. 31.2 Learning Objectives No access
3. 31.3 End of Accounting Period Procedures No access
4. 31.4 Beginning of Accounting Period Procedures No access
5. 31.5 Timeline for Financial Statements No access
6. 31.6 C/S GOUSBLOM Ltd. - 20X7 No access
7. 31.7 C/S GOUSBLOM Ltd. – 20X8 No access
8. 31.8 Summary No access
9. 31.9 Question Bank No access
10. 31.10 Solutions No access
1. 32.1 What is in the Chapter? No access
2. 32.2 Learning Objectives No access
3. 32.3 Cash Flow Statement Requirements in Germany No access
4. 32.4 Cash Flow Statement Requirements by IFRSs No access
5. 32.5 Categories of Cash Flows No access
6. 32.6 Cash Flow Statement and Value added Tax No access
7. 32.7 Direct Method No access
8. 32.8 C/S MANSELL Ltd No access
9. 32.9 Reconciliation Method No access
10. 32.10 C/S DEERHURST No access
11. 32.11 Formal Procedure for the Reconciliation No access
12. 32.12 Reconciliation at MANSELL Ltd No access
13. 32.13 C/S SUNLANDS AG No access
14. 32.14 Summary No access
15. 32.15 Working Definitions No access
16. 32.16 Question Bank No access
17. 32.17 Solutions No access
1. 33.1 What is in the Chapter? No access
2. 33.2 Learning Objectives No access
3. 33.3 C/S SALDANHA (Part 1: Sole Proprietor) No access
4. 33.4 Requirements to Prepare Financial Statements for Small Business No access
5. 33.5 Bookkeeping Records for a Sole Proprietorship (Case Saldanha) No access
6. 33.6 Calculation of Profits in a Sole Proprietorship (Case Saldanha) No access
7. 33.7 Change of Legal Form (Case Saldanha) No access
8. 33.8 Partnerships No access
9. 33.9 C/S SNACKY-TICKY-Shop (Part 2: Partnership) No access
10. 33.10 C/S SNACKY-TICKY-Shop (Part 3: Limited Company) No access
11. 33.11 Business Activities (C/S SNACKY-TICKY Ltd.) No access
12. 33.12 Profit and Loss Calculation (C/S SNACKY-TICKY Ltd.) No access
13. 33.13 Summary No access
14. 33.14 Working Definitions No access
15. 33.15 Question Bank No access
16. 33.16 Solutions No access
1. 34.1 What is in the Chapter? No access
2. 34.2 Learning Objectives No access
3. 34.3 Reasons for Liquidations No access
4. 34.4 Liquidation Procedures No access
5. 34.5 C/S MOSSEL SPORTS No access
6. 34.6 Tax Implication for a Profit on Liquidation No access
7. 34.7 Alternative End for the C/S MOSSEL SPORTS No access
8. 34.8 Liquidation of Partnerships and Limited Companies No access
9. 34.9 Summary No access
10. 34.10 Working Definitions No access
11. 34.11 Question Bank No access
12. 34.12 Solutions No access
1. 35.1 What is in the Chapter? No access
2. 35.2 Learning Objectives No access
3. 35.3 Reasons for Disposals No access
4. 35.4 Bookkeeping Entries for Disposals No access
5. 35.5 C/S: WARDRIF Ltd No access
6. 35.6 Summary No access
7. 35.7 Working Definitions No access
8. 35.8 Question Bank No access
9. 35.9 Solutions No access
1. 36.1 What is in the Chapter? No access
2. 36.2 Learning Objectives No access
3. 36.3 Characteristics of Discounts and Rebates No access
4. 36.4 Recording Discounts and Rebates No access
5. 36.5 Impact of Discounts on Financial Statements No access
6. 36.6 Direct Discounts No access
7. 36.7 C/S MELKBOS Ltd No access
8. 36.8 Deferred Discount No access
9. 36.9 C/S HETKRUIS Ltd. and FIXCARS (Pty) Ltd. - Buyer No access
10. 36.10 C/S HETKRUIS Ltd. and FIXCARS (Pty) Ltd. – Seller No access
11. 36.11 Discounts Received in the Next Accounting Period No access
12. 36.12 C/S BELLICK AG No access
13. 36.13 Summary No access
14. 36.14 Working Definitions No access
15. 36.15 Question Bank No access
16. 36.16 Solutions No access
1. 37.1 What is in the Chapter? No access
2. 37.2 Learning Objectives No access
3. 37.3 Need for Bank Reconciliation No access
4. 37.4 Bank Statements No access
5. 37.5 C/S KRAGGA Consultants Ltd No access
6. 37.6 Reconciliation No access
7. 37.7 Summary No access
8. 37.8 Working Definitions No access
9. 37.9 Question Bank No access
10. 37.10 Solutions No access
1. 38.1 What is in the Chapter? No access
2. 38.2 Learning Objectives No access
3. 38.3 Need for a Petty Cash Book No access
4. 38.4 Bookkeeping Records for Expenditures Paid from Petty Cash No access
5. 38.5 C/S SWARTKLIP Ltd No access
6. 38.6 Summary No access
7. 38.7 Working Definitions No access
8. 38.8 Question Bank No access
9. 38.9 Solutions No access
1. 39.1 What is in the Chapter? No access
2. 39.2 Learning Objectives No access
3. 39.3 Need for Books of Original Entry No access
4. 39.4 Concept of Books of Original Entry No access
5. 39.5 C/S MUIRFIELD (Pty) Ltd No access
6. 39.6 Summary No access
7. 39.7 Working Definitions No access
8. 39.8 Question Bank No access
9. 39.9 Solutions No access
40 Abbreviations No access Pages 607 - 610
41 Table of Figures No access Pages 611 - 620