ACCOUNTING TESTBANK
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© ICAEW 2019ICAEW 2019 Contents iii
Contents
Title
Page
Questions Answers
1 Introduction to accounting 3 131
2 The accounting equation 5 132
3 Recording financial transactions 8 133
4 Ledger accounting and double entry 11 134
5 Preparing basic financial statements 16 136
6 Errors and corrections to accounting records and financial
statements 19 137
7 Cost of sales and inventories 26 140
8 Irrecoverable debts and allowance for receivables 34 144
9 Accruals and prepayments 38 146
10 Non-current assets and depreciation 44 148
11 Company financial statements 54 152
12 Company financial statements under IFRS 59 154
13 Statement of cash flows 84 187
14 Company financial statements under UK GAAP 99 201
15 Sole trader and partnership financial statements under
UK GAAP 103 203
16 Additional question practice 111 207
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