This book is designed to be an introductory accounting text and is applicable to accounting, office administration and business courses.
It is also useful for training office staff new to accounting; in particular, those involved in computer accounting. A full explanation of the manual accounting procedures, which facilitates an understanding of the computer accounting environment, is contained in Chapters 1 to 9. Chapter 10 provides a manual demonstration of the effect of posting transactions direct to computer package ledger accounts.
The text is divided into two parts: Part One explores accounting up to the Trial Balance stage and Part Two extends this information to the preparation of financial statements and associated end of financial year functions.
Chapter 1 refers to Accounting Standards and the introduction of International Accounting Standards for the financial year ended 30 June 2006. Full coverage of the goods and services tax (GST) is given in Chapter 5. Other chapters cover petty cash, bank reconciliations and preparation of a manual payroll system, with a strong emphasis on accounting activities and internal controls.
The newer terms for financial statements --- Statement of Financial Performance (Accounting Standard AASB 1018) and Statement of Financial Position (Accounting Standard AASB 1040) --- are incorporated into the text.
The text is supported by a Workbook in which students can answer Multiple choice and Topic review questions, Activities and Competency checks. Solutions to Multiple choice and Topic review questions are available at the back of the Workbook.
Activities are designed as 'homework' questions for students to complete outside of class. The solutions to Activities are available to lecturers and teachers on the following website: www.mhhe.com/au/willis2e Answers to In practice questions, which are found throughout each chapter, are available to students and teachers on the website.
2004
McGraw-Hill Australia