Get to Grips with Book Keeping (Teach Yourself)

A substantial yet easy to follow guide that demystifies the art of bookkeeping and gives readers the confidence needed to tackle their books Bookkeeping is neither dull nor mysterious—its rules are logical, straightforward, and readily mastered by practice. This introduction covers the principles of bookkeeping and the practical skills of recording transactions, posting the ledgers, and preparing final accounts. It explains the purpose and use of books of original entry as the basis of the double-entry system and describes the processes of recording purchases, sales, and cash transactions. Next it shows how these records are used to prepare the final accounts—the manufacturing, trading accounts and profit and loss accounts, and the balance sheet—to provide accurate financial statements. It also explores petty cash, depreciation, partnership, company law, business documents, and the effect of changes in IT. Worked examples throughout allow readers to put the theory into practice, while there is also a wide range of carefully graded questions and exercises with sample answers.