Unit 3.4 Chp 1-4

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vi CAMBRIDGE VCE ACCOUNTING UNITS 3&4Chapter 16Balance day adjustments: Revenues 41816.1 The need for balance day adjustments 41916.2 Unearned revenues 42016.3 Unearned sales revenue: sales of inventory involving a deposit 42416.4 Accrued revenue 427Chapter 17Budgeting 43817.1 Budgeting 43917.2 The budgeting process 44117.3 The Budgeted Cash Flow Statement * 44217.4 Calculating cash flows 44717.5 The Budgeted Income Statement 45017.6 The Budgeted Balance Sheet 45317.7 Account reconstruction 45617.8 Variance reports: cash and profit 460Chapter 18Evaluating performance: profitability 47818.1 Analysis and interpretation of profitability 47918.2 Tools for assessing profitability 48118.3 Return on Owner’s Investment (ROI) 48418.4 Debt Ratio 48618.5 Return on Assets (ROA) 48818.6 Earning revenue: Asset Turnover (ATO) 49018.7 Controlling expenses 49218.8 Net Profit Margin (NPM) 49318.9 Gross Profit Margin (GPM) 49518.10 Vertical analysis of the income statement 49718.11 Non-financial information * 49918.12 Strategies to improve profitability 501Chapter 19Evaluating liquidity 50919.1 Assessing liquidity 51019.2 Working Capital Ratio (WCR) 51219.3 Quick Asset Ratio (QAR) 51419.4 Cash Flow Cover (CFC) 51619.5 The speed of liquidity 51719.6 Inventory Turnover (ITO) * 51819.7 Accounts Receivable Turnover (ARTO) * 52019.8 Accounts Payable Turnover (APTO) * 522* includes ethical considerationsGlossary 532Selected answers 539Acknowledgements 541ISBN 978-1-108-46989-0 © Simmons et al. 2019 Cambridge University PressPhotocopying is restricted under law and this material must not be transferred to another party.
viiAbout the authorsAnthony SimmonsAnthony Simmons B.Comm, Dip.Ed, M.Ed (Ed. Management) is Head of MNab Houseat Penleigh and Essendon Grammar School. Having spent over 20 years as a teacher of VCEAccounting, he has made important contributions to the understanding of how students learnthe discipline and think about Accounting, and how that should influence the way in which thesubject is taught. Anthony continues to be involved in all aspects of teaching VCE Accounting,from development of the Curriculum to assessment of student understanding. As evidencedby his involvement in this textbook series, Comview, VCTA professional learning sessions withteachers, student lectures and published articles, Anthony is a leading voice on how Accountingis taught and learned.Richard HardyRichard Hardy B.Ec (Accounting), G Dip.Ed, PG EdAdmin, M.Ed (Admin) is Dean of AcademicAdministration at Clayfield College. He has taught Accounting for over 20 years and has been apresenter at Comview and VCTA professional development sessions. Richard has also been aVCE Accounting examination assessor and part of the examination writing panel. He continues toinstil his passion for Accounting in all of his students.Author acknowledgementsAlthough we have been working on these editions of our textbooks for a year or two, we’ve beendeveloping our understanding – of both Accounting as well as students and how they learn – forthe best part of 50 years between us. And in that time we have had the guidance and support ofa whole host of people who, together, have helped these books come into being.First, we would like to thank our families. Our names might be on the cover but every word hereinonly exists because of your love, patience and support. You have not only shouldered the extraresponsibilities we left every time we sat down to write, but you have given us confidence in ourabilities to understand learning, and solve the many challenges that arose along the way. Yournames appear in various exercises as a small acknowledgement of your love and support, but toyou Kristine and Erin in particular – thank you.We would also like to thank the school leaders and other teachers at Penleigh and EssendonGrammar School (where we both began this venture), at Balcombe Grammar School and atClayfield College. These learning communities informed our understanding of how people learn,and this has been a central focus of writing these texts. In particular, we would like to thankTony Larkin, Matthew Dodd and Kathy Bishop who, as Principals at these schools, provided theleadership that meant we were able to learn from and within great learning communities.In the world of VCE Accounting our colleagues have provided ideas, feedback and inspiration andfor this we thank them all, but especially (in chronological order) Seb Italia, Jacqui Birt, Keith King,Neville Box, Greg Gould, Diana Russo, Sue Lenz, Erin McEwan, Darrell Cruse, Steve Davis, VickiBaron and Celia Mara. We are also indebted to our students for providing us with insights andfeedback (especially when we got it wrong), not to mention inspiration (and not a few names) forthe exercises.Our very special thanks to all the staff at Cambridge University Press: Nick Alexander, LindaKowarzik, Thuong Du, Amy Robson and our editor Karen Jayne for managing us and the wholeproject and its various components. Nick – without your gentle pressure applied relentlessly we’dnever have finished.Finally, thank you for choosing this resource. We hope it helps you to understand Accounting as adiscipline, and that as a result of using it you are able to think a little bit more like an Accountant,so that your decisions are just a little more informed, and help you in making your own soundfinancial decisions.Anthony and RichardISBN 978-1-108-46989-0 © Simmons et al. 2019 Cambridge University PressPhotocopying is restricted under law and this material must not be transferred to another party.
Page 1 and 2: Cambridge VCEAccountingFourth Editi
Page 3 and 4: iiiContentsAbout the authorsAuthor
Page 5: CONTENTSvChapter 10Reporting for pr
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Unit 3.4 Chp 1-4

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