Solutions Manual - An Introduction Eleventh Edition Eddie McLaney ...

Solution’s Manual Accounting and Finance An Introduction Eleventh Edition Eddie McLaney Peter Atrill All Chapters Solutions Manual Supplement files download link at the end of this file. 1 / 4

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Contents ChaptersPages

Section A: Authors’ note to tutors 6

Section B: Solutions to exercises 9

Tutorial/seminar questions 81 Outline solutions to tutorial/seminar questions 99 Supplementary questions 118 Solutions 143

Progress Test 1: Financial Accounting – Chapters 1 to 7 174

Progress Test 2: Management Accounting – Chapters 8 to 13 186

Progress Test 3: Financial Management – Chapters 14 to 16 202 2 / 4

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SECTION A

Authors’ note to tutors Using the text This text is designed to provide readers with a sound introduction to accounting and finance.It assumes no previous knowledge of these subjects and recognises that students using it may come from a wide variety of backgrounds. The text, therefore, tries to avoid technical jargon and does not assume that students have a high level of numerical ability. It has been extensively class tested by students on various courses, and we have modified and refined the material to take account of their comments. We have also taken account of the comments made by lecturers who used the first ten editions.The text aims to encourage an active approach to learning by providing activities and self- assessment questions at appropriate points in the chapters. This is designed to stimulate thought concerning particular issues and to give readers the opportunity to test their understanding of the principles covered. The text is supplemented by a password-controlled lecturers’ website and a student website available to all readers.Teaching structure The structure of the text allows the tutor to deliver the subject in a number of ways. It can be used as recommended reading for a traditional course, based on lectures and tutorials. There are critical review questions and exercises at the end of each chapter that can be used as the basis for tutorials.There are also supplementary questions and tutorial question in this Instructors’ Manual. The text could, alternatively, provide the basis for a distance learning approach for part-time or off-campus students. For these students, where access to a tutor is restricted, the interactive nature of the text may be extremely useful. It can also be used as the basis for an open-learning approach for full-time campus-based students. We successfully used it in this way at the Plymouth University Business School. Accounting ‘drop-in surgeries’ were provided to give students the opportunity for one-to- one help with any problems they faced.The text is appropriate for modules that are designed to be covered in 250 to 300 hours of study. For full-time students, this will often be covered in one academic year (two semesters). For students who are only studying a one-semester course in accounting and finance, it will be necessary to adopt a selective approach to the chapters to be studied. The first chapter sets the scene. The next six deal with the nature and role of financial accounting and give a good grounding in the major financial statements. This will, however, take up much of the time available. It should, nevertheless, be possible to select further chapters for study from those remaining. 3 / 4

McLaney & Atrill, Accounting and Finance: An Introduction, 11e, Instructor’s Manual 7 © 2023 Pearson Education Limited. All Rights Reserved.

PowerPoint slides The diagrams in the text, along with other diagrams and materials (including the new ‘bullet point’ chapter summaries), are available as PowerPoint slides. These should help in delivering lectures and tutorials. They can be downloaded from the lecturers’ website.Practice/assessment material The ‘Activities’ in the text, which have solutions immediately follow them, and self-assessment questions, which have solutions are at the end of the text (Appendix C), form an integral part of it.In addition, there are various other practice/assessment materials. At the end of each chapter, except Chapter 1, there is a ‘Self-assessment question’, which attempts to bring the subject matter of the relevant chapter together. The solutions to these are at the end of the text (Appendix C). Also at the end of each chapter are four ‘Critical Review Questions’. These are short, narrative questions involving explanation and brief discussion. The solutions to these are at the end of the text (Appendix D). At the end of all chapters, except Chapter 1, there are seven ‘Exercises’. These are questions, many involving calculations, which are similar in nature to exam-style questions. The solutions to four of these are given at the end of the text (Appendix E) and are, therefore, accessible to students. Solutions to the other three are in the following pages of this manual and are not accessible to students.

On the instructors’ website, there are:

• PowerPoint slides, as mentioned above.• Supplementary questions, with solutions. These questions are similar to the end-of-chapter Exercises, as mentioned above.• Three progress tests, with solutions. Each of these contains ten multiple choice questions, ten missing word questions and either two or three Exercise-style questions, as mentioned above.• Four seminar/discussion question, for each chapter, with outline solutions, as mentioned above.• A set of case studies with solutions.None of the material on the instructors’ website is accessible to students Ordering of material The order in which topics are dealt with is clearly a matter of opinion. Our broad approach is to try to build up students’ knowledge and understanding and to try to avoid situations where reference needs to be made to material appearing later in the text. We have taken the view that financial accounting is a good place to start, partly because students probably know of this aspect of accounting and finance from their background. It tends to be discussed in the news media, etc. Also we feel that this aspect is easier to deal with without knowledge of management accounting and finance. Within financial accounting, we have dealt with the statement of financial position and income statement, then with

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