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books for basics

  • 30-07-2008 1:19pm
    #1
    loadabollocks
    Closed Accounts Posts: 127 ✭✭


    HI,
    Does anyone know of any decent books that would help me learn the basics in terms of double-entry etc. I'm currently doing ACCA but i have a background in science and as such i am really struggling with paper F7 (old 2.5, Financial reporting). Applying the FRS's etc. is prinv gto be quite difficult and i think learning the basics more thoroughly would help me greatly.
    Thanks.


Comments

  • #2
    sea blue
    Closed Accounts Posts: 3 ✭sea blue


    I would suggest you get the book for the earlier financial reporting paper (old 1.1) and work through it yourself.


  • #3
    suckslikeafox
    Registered Users, Registered Users 2 Posts: 553 ✭✭✭suckslikeafox


    Cant remember the name of it but the first book we used in college was by Frank Wood, its very basic though, but it was easy to understand. Maybe too basic for your needs though


  • #4
    hivizman
    Registered Users, Registered Users 2 Posts: 1,163 ✭✭✭hivizman


    The book is called Frank Wood's Business Accounting, by Frank Wood and Alan Sangster (Frank Wood died a few years ago and Alan Sangster took over the process of keeping the book up to date). There was a new edition (the 11th) published in April 2008. Volume 1 deals with the basics, including double entry, trial balance, accounting adjustments, and the income statement and balance sheet, as well as a lot of other technique-type topics. Volume 2 goes into company accounting in more detail and covers group accounts. It also has a lot of costing and management accounting. It doesn't go very deeply into financial reporting standards, however.

    Between them, the two volumes run to over 1,600 pages and contain lots of worked examples and practice questions. A lot of students taking professional accountancy examinations have used "Frank Wood", and the fact that it's run through 11 editions speaks volumes (sorry for the pun :D) about its effectiveness for students learning on their own as well as those taking formal courses.


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