Cima Exam Practice Kit: Financial Accounting Fundamentals (cima Exam Practice Kit)

CIMA Exam Practice Kit Financial Accounting Fundamentals This Page is Intentionally Left Blank CIMA Exam Practice Kit Certificate Level Financial Accounting Fundamentals Dak Patel AMSTERDAM • BOSTON • HEIDELBERG • LONDON • NEW YORK • OXFORD PARIS • SAN DIEGO • SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO CIMA Publishing An imprint of Elsevier Linacre House, Jordan Hill, Oxford OX2 8DP 30 Corporate Drive, Burlington, MA 01803 First published 2005 Copyright © 2005, Elsevier Ltd. All rights reserved No part of this publication may be reproduced in any material form (including photocopying or storing in any medium by electronic means and whether or not transiently or incidentally to some other use of this publication) without the written permission of the copyright holder except in accordance with the provisions of the Copyright, Designs and Patents Act 1988 or under the terms of a licence issued by the Copyright Licensing Agency Ltd, 90 Tottenham Court Road, London, England W1T 4LP. Applications for the copyright holder’s written permission to reproduce any part of this publication should be addressed to the publisher Permissions may be sought directly from Elsevier’s Science and Technology Rights Department in Oxford, UK: phone: (44) (0) 1865 843830; fax: (44) (0) 1865 853333; e-mail: [email protected] You may also complete your request on-line via the Elsevier homepage (http://www.elsevier.com), by selecting ‘Customer Support’ and then ‘Obtaining Permissions’ British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloguing in Publication Data A catalogue record for this book is available from the Library of Congress ISBN 0 7506 6583 1 For information on all CIMA Publishing Publications visit our website at www.cimapublishing.com Typeset by Integra Software Services Pvt. Ltd, Pondicherry, India www.integra-india.com Printed and bound in the Netherlands Contents About the Author Introduction Syllabus Guidance, Learning Objectives and Verbs Examination Techniques vii ix xi xix 1 The Accounting Scene 1 2 The Framework of Financial Accounts 11 3 The Accounting System in Action 23 4 Summarising the Ledger Accounts 33 5 Further Aspects of Ledger Accounts 41 6 Accounting for Fixed Assets 53 7 Financial Accounting with Adjustments, Organising and Controlling the Bookkeeping System 71 8 The Regulatory Framework of Accounting 83 9 Incomplete Records and Income and Expenditure Accounts <