Full Description
Solicitors' Accounts provides a user-friendly guide to a subject that often poses serious problems for students unfamiliar with the principles and practice of accounting. It provides comprehensive, up-to-date coverage of all areas required by the Solicitors' Regulation Authority for business accounts and solicitors' accounts on the Legal Practice Course, including full coverage of double-entry book-keeping and final accounts of sole owners, partnerships and companies. It also deals with the Solicitors' Accounts Rules and the practical application of these in solicitors' accounts, including property and probate transactions.
Each chapter starts with an overview of the areas to be covered and also states the learning objectives the student should aim to achieve. Contextual examples are used throughout the chapters demonstrating how the principles of accounting should be applied to situations in practice. At the end of each chapter there is a checklist of the key areas students must be able to understand, followed by graded self-test questions which suggest to the student how long they should spend completing them and what they should move onto next.
Written by experienced former LPC tutors, the guide is essential reading for students and a useful reference source for practitioners.
Online Resource Centre
Solicitors' Accounts is accompanied by an Online Resource Centre designed to encourage students to apply their knowledge of accounts. Interactive exercises are provided for students and a test bank of questions enables lecturers to assess their students' understanding of accounts.
Contents
1. Introduction to solicitors' accounts and basic bookkeeping ; 2. The Trial Balance ; 3. Final accounts ; 4. Adjustments to final accounts ; 5. Further adjustments to final accounts ; 6. Partnership accounts ; 7. Basic accounting concepts and trading accounts ; 8. Company accounts ; 9. Group companies and consolidated accounts ; 10. Interpretation of accounts and accounting ratios ; 11. Basic solicitors' accounts ; 12. Transfers and mixed money ; 13. Value added tax ; 14. Financial statements and property transactions ; 15. Deposit interest and interest payable to clients ; 16. Probate transactions ; 17. Further transactions ; 18. Short answer questions and revision questions on solicitors' accounts
