CIMA Exam Practice Kit: Financial Accounting Fundamentals (CIMA Exam Practice Kit)

254 Pages·2005·3.44 MB·English

by  Dak Patel

CIMA Exam Practice Kit
Financial Accounting
Fundamentals
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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
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First published 2005
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Contents
About the Author vii
Introduction ix
Syllabus Guidance, Learning Objectives and Verbs xi
Examination Techniques 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 93
10 Manufacturing Accounts 111
11 The Accounts of Limited Companies 117
12 Format of the Cash-Flow Statement 129
13 Interpretation of Accounts 137
14 Mock Examination 147
15 Mock Assessment 201
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About the Author
Dak Patel, FCCAFIPFM is the Principal of London School of Accountancy and Management.
In 1991 he refurbished a major Accountancy college in Central London and started lecturing
there on Accountancy, Taxation and Management courses. In the late 1990s he became a
cofounder for an Accountancy college where he was the Managing Director. In January 2004,
he founded London School of Accountancy and Management (LondonSAM). The college has
enrolled over 500 students studying full time, evening and on weekends. By 2007 he plans
to have set up centres overseas notably China, Mauritius, India, Pakistan and Ghana where
currently he has sole agencies in place. He has also lectured at Cambridge on the MBAand
DMS programmes and trained staff members of the Essex Police and Fire Brigade.
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Introduction
Welcome to the new CIMAExam Practice Kit which has been launched to coincide with a
major change in the syllabus where new examinations will take place from May 2005.
This Kit has been designed with the needs of home study and distance education candidates
in mind. It is also ideal for fully taught courses or for students resitting papers from the old
syllabus.
These hints, questions and answers have been produced by some of the best-known freelance
tutors in the United Kingdom who have specialised in their respective papers. The questions
and topics selected are relevant for the May 2005 and November 2005 examinations.
The exam practice kits will complement CIMA’s existing study manuals with the Q & As
from May 2005 examination published in the next edition of the CIMAstudy manual and
the Q & As from November 2005 examination published in the 2006 edition of the CIMA
Exam Practice Kit.
Good luck with your studies.
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