Practical Accounts & Bookkeeping in easy steps, 2nd Edition by Alex Byrne

Practical Accounts & Bookkeeping in easy steps, 2nd Edition by Alex Byrne is a guide to accounts and bookkeeping. This second edition has been updated to reflect the latest UK legislation.

Key details

• Second edition updated for current UK legislation
• Covers recording day-to-day transactions and how they appear in nominals, trial balance, profit & loss and the balance sheet
• Explains why accounts matter and the legal documents used when preparing accounts
• Includes guidance on submission deadlines and when accounts must be sent to authorities
• Includes examples to practise plus a questions and answers section for self-testing

Synopsis

Starting with core bookkeeping basics, this book explains how everyday transactions are recorded and presented across key accounting outputs, including nominals, the trial balance, profit & loss and the balance sheet. It goes on to cover topics such as building a balance sheet using sales, purchase and nominal ledgers, VAT registering, charging and reclaiming, and annual adjustments including prepayments and accruals.

Further sections address calculating profit for tax and capital accounts, alongside key accounting principles such as double entry, direct and indirect costs, fixed and current assets, depreciation and capital allowance. The book also outlines how computer software is designed to simplify accounting processes, and includes practice examples and a questions and answers section to help you check your understanding.