Accounting for Non Accounting Students

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inggLecturer’s Guide
Accounting for Non-accounting Students
Sixth edition

J R Dyson

ISBN 0 273 68301 2
© Pearson Education Limited 2004

Lecturers adopting the main text are permitted to download the manual as required.

Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies around the world Visit us on the World Wide Web at: www.pearsoned.co.uk First published in Great Britain under the Pitman Publishing imprint in 1997 Second edition published in 2001 Third edition published 2004 © Pearson Professional Limited 1997 © Pearson Education Limited 2001, 2004 The right of John R Dyson and John Wyett to be identified as authors of this Work has been asserted by them in accordance with the Copyright, Designs and Patents Act 1988. ISBN 0 273 68301 2 All rights reserved. Permission is hereby given for the material in this publication to be reproduced for OHP transparencies and student handouts, without express permission of the Publishers, for educational purposes only. In all other cases, no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without either the prior written permission of the Publishers or a licence permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd, 90 Tottenham Court Road, London W1T 4LP. This book may not be lent, resold, hired out or otherwise disposed of by way of trade in any form of binding or cover other than that in which it is published, without the prior consent of the publishers.

© Pearson Education Limited 2004

Dyson: Accounting for Non-accounting Students, Lecturer’s Guide, 6th edition

Contents
Preface Notes for lecturers iv v

PART 1 ANSWERS TO QUESTIONS 1 The accounting world 2 Accounting rules 3 Recording data 4 Sole trader accounts 5 Last minute adjustments 6 Company accounts 7 Other entity accounts 8 Cash flow statements Case studies: Preparation of financial statements Accounting policies Cash flow statements 9 Information disclosure 10 The annual report 11 The annual accounts

1 2 4 7 18 22 30 36 38 42 44 45 47 49 50 51 56 58 59 61 64 66 70 75 80 82 88 93 95 96 97

12 Interpretation of accounts 13 Contemporary issues Case studies: The communication of financial information Interpretation of accounts 14 Foundations 15 Direct costs 16 Indirect costs 17 Budgeting 18 Standard costing 19 Contribution analysis 20 Specific decisions 21 Capital investment 22 Emerging issues Case studies: Fixed and flexible budgets Standard cost operating statements Pricing

PART 2 MULTIPLE CHOICE QUESTIONS AND ANSWERS Multiple choice questions Answers to multiple choice questions

99 100 131

iii
© Pearson Education Limited 2004

Dyson: Accounting for Non-accounting Students, Lecturer’s Guide, 6th edition

Preface
At the time that the first edition of Accounting for Non-Accounting Students was published, it was believed that the answers to all questions should be included in the same volume. This decision was made for two main reasons: (1) to avoid lecturers having to waste time preparing answers; and (2) to help those students who were using the book as part of a distance learning programme. When preparing later editions, I have been requested to include a number of questions without answers. Most of the questions and answers included in the first five editions of the book have been retained within the sixth edition. The majority of the solutions to those questions are contained within this Lecturer’s Guide. While lecturers would prefer a book to contain a great many questions, I hope that the questions contained in this one will provide sufficient material for use on most modular courses designed especially for non-accounting students. However, additional questions and solutions are available on the web site and it is anticipated that they will be updated and...
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