COVID-19 Update: We are currently shipping orders daily. However, due to transit disruptions in some geographies, deliveries may be delayed. To provide all customers with timely access to content, we are offering 50% off Science and Technology Print & eBook bundle options. Terms & conditions.
Business Statistics and Accounting - 1st Edition - ISBN: 9780491023092, 9781483135670

Business Statistics and Accounting

1st Edition

Made Simple

Authors: Ken Hoyle Geoffrey Whitehead
eBook ISBN: 9781483135670
Imprint: Made Simple
Published Date: 1st January 1979
Page Count: 362
Sales tax will be calculated at check-out Price includes VAT/GST
Price includes VAT/GST

Institutional Subscription

Secure Checkout

Personal information is secured with SSL technology.

Free Shipping

Free global shipping
No minimum order.


Business Statistics and Accounting: Made Simple focuses on the principles, approaches, and operations involved in business statistics and accounting, including book-keeping, value added tax, cash and credit, and trial balance.

The book first takes a look at basic numerical knowledge, introduction to business statistics, and classification and tabulation. Discussions focus on frequency distributions, discrete and continuous variables, approximation and error, simple mathematical symbols, importance of business calculations, calculating percentages of quantities, and powers and roots. The text then elaborates on time series, pictorial representation of statistical data, graphs, and mean, median, and mode.

The manuscript examines the nature and purpose of accounting, double-entry book-keeping to the trial balance level, books of original entry, value added tax, and accounting to the trial balance, with books of original entry. Topics include original entries for petty cash, original entries for the payment of money, double entries for cash and credit transactions, and extracting a trial balance.

The publication is a dependable reference for students and researchers interested in business statistics and accounting.

Table of Contents



Section 1: Introduction

1 An Introduction to Business Statistics and Accounting

1.1 The Subject-matter of this Book

1.2 Simple Business Calculations

1.3 Business Statistics

1.4 Accounting to the Trial Balance Level

1.5 Accounting to Final Accounts Level

1.6 Conclusion

Section 2: Business Calculations

2 Basic Numerical Knowledge

2.1 The Importance of Business Calculations

2.2 Electronic Calculators and Business Calculations

2.3 Calculating Percentages of Quantities

2.4 Exercises: Calculating Percentages of a Quantity

2.5 Calculating Quantities as Percentages of Other Quantities

2.6 Exercises: Calculating Quantities as Percentages of Other Quantities

2.7 Simple Ratios

2.8 Exercises: Simple Ratios

2.9 The Unitary Method

2.10 Exercises: the Unitary Method

2.11 Powers and Roots

2.12 Exercises: Raising Numbers to a Power

2.13 Exercises: Square Roots of Numbers

2.14 Exercises: the Laws of Indices

2.15 Simple Equations

2.16 Exercises: Simple Equations

Section 3: Business Statistics

3 An Introduction to Business Statistics

3.1 The Meaning of 'Statistics'

3.2 Criticisms of Statistics

3.3 Discrete and Continuous Variables

3.4 Collection of Data

3.5 Types of Sample

3.6 Approximation and Error

3.7 Simple Mathematical Symbols

3.8 Exercises: Introductory Statistical Concepts

4 Classification and Tabulation

4.1 Introduction

4.2 The Classification of Data

4.3 The Tabulation of Data

4.4 Simple Tables

4.5 Exercises: Simple Tabulation

4.6 Frequency Distributions

4.7 Cumulative Frequency Distributions

4.8 Exercises: Frequency Distributions

5 Time Series

5.1 Introduction

5.2 The Trend

5.3 Seasonal Variation

5.4 Random Variations and the De-Seasonalising of Data

5.5 The Uses of Time Series

5.6 Exercises: Time Series

6 Pictorial Representation of Statistical Data

6.1 Introduction

6.2 Pictograms

6.3 Bar Charts

6.4 Histograms

6.5 Gantt Charts

6.6 Pie Charts

6.7 Exercises: Diagrammatic Representation

7 Graphs

7.1 Introduction

7.2 Constructing a Graph

7.3 Simple Graphs

7.4 The Z Chart

7.5 Exercises: Simple Graphs

7.6 Straight-line Graphs

7.7 Exercises: Graphs of Simple Functions

7.8 The Frequency Polygon

7.9 Scatter Diagrams

7.10 The Lorenz Curve

7.11 Semi-Logarithmic Graphs

7.12 Exercises: More Graphs and Diagrams

8 Measures of Position—The Mean, Median and Mode

8.1 The Reasons for Measuring Position

8.2 The Arithmetic Mean

8.3 Exercises: Arithmetic Means of Simple Series

8.4 The Arithmetic Mean from a Frequency Distribution

8.5 Exercises: The Arithmetic Mean from a Frequency Distribution

8.6 The Arithmetic Mean from Grouped Data

8.7 Exercises: The Arithmetic Mean from Grouped Data

8.8 The Arithmetic Mean, Calculated from an Assumed Mean

8.9 Exercises: The Arithmetic Mean from an Assumed Mean

8.10 The Weighted Arithmetic Mean

8.11 Exercises: Weighted Arithmetic Means

8.12 The Median

8.13 Exercises: The Median

8.14 Calculating the Median from Grouped Data

8.15 Exercises: Medians from Grouped Data

8.16 Calculating the Median from a Cumulative Frequency Curve (Ogive)

8.17 Exercises: Calculating the Median from Ogives

8.18 The Mode

8.19 Exercises: The Mode

8.20 Comparison of the Averages

8.21 Exercises: Comparison of Averages

9 Index Numbers

9.1 What are Index Numbers?

9.2 A Simple Index or Price Relative

9.3 Exercises: Simple Index Numbers

9.4 Weighted Index Numbers

9.5 Exercises: Weighted Index Numbers

9.6 Chain Index Numbers

9.7 Exercises: Chain Index Numbers

9.8 Some Difficulties with Index Numbers

9.9 The General Index of Retail Prices

9.10 Exercises: Index Numbers

10 Official Sources of Statistics

10.1 The Range of Official Sources of Statistics

10.2 Regular Sources of Statistics

10.3 Occasional Sources of Statistics

10.4 Exercises: Official Statistics

Section 4: Accounting to Trial Balance Level

11 The Nature and Purpose of Accounting

11.1 What is Accounting?

11.2 The Development of Accounting: Introduction

11.3 Early Double-Entry Book-keeping

11.4 Modern Double-Entry Book-keeping

11.5 How the Double-Entry System Works

11.6 The Computerisation of Double-Entry Book-keeping

11.7 The Pattern of Accounting Activities

11.8 Exercises: The Nature and Purpose of Accounting

12 Double-Entry Book-Keeping to the Trial Balance Level

12.1 Double Entries for Cash and Credit Transactions

12.2 Types of Double Entry

12.3 A Model Exercise in Direct Double Entry

12.4 Tidying Up Accounts for a Trial Balance

12.5 Extracting a Trial Balance

12.6 What to do if a Trial Balance does not Agree

12.7 Exercises: Direct Double Entry

13 Books of Original Entry

13.1 Principles of Original Entry

13.2 Original Entries for the Sale of Goods—the Sales Day Book

13.3 Exercises: The Sales Day Book

13.4 Original Entries for Purchases—The Purchases Day Book

13.5 Exercises: The Purchases Day Book

13.6 Invoices for Services—The Expenses Journal or Day Book

13.7 The Return of Goods—Credit Notes

13.8 Entering Credit Notes—The Sales Returns Book

13.9 Exercises: The Sales Returns Book

13.10 Entering Credit Notes—The Purchase Returns Book

13.11 Exercises: The Purchases Returns Book

13.12 Original Entries for the Payment of Money—Documents

13.13 The Three-Column Cash Book

13.14 Contra Entries in the Cash Book

13.15 Posting the Three-Column Cash Book to the Ledger

13.16 Exercises: The Three-Column Cash Book

13.17 Original Entries for Petty Cash

13.18 The Petty Cash Book

13.19 Exercises: The Petty Cash Book

13.20 Journal Entries: Original Entries for All Other Items

13.21 Exercises: Journal Entries

14 Accounting to the Trial Balance, with Books of Original Entry

14.1 Introduction

14.2 What is Involved in Accounting to the Trial Balance?

14.3 A Specimen Exercise to the Trial Balance

14.4 Exercises: Accounting to the Trial Balance

15 Value Added Tax

15.1 What is Value Added Tax?

15.2 Office Activities Made Necessary by Value Added Tax

15.3 Output Records

15.4 Input Records

15.5 The VAT Account

15.6 Special Retailers' Schemes

15.7 The Tax Return (Form VAT 100)

15.8 Exercises: Value Added Tax

Section 5: Accounting to Final Accounts Level

16 Fundamental Accounting Concepts

16.1 Theory and Practice in Accounting

16.2 The Four Fundamental Concepts

16.3 Accounting Bases

16.4 Inflation Accounting

16.5 Accounting Policies

16.6 Exercises fundamental Concepts

17 Accounting to Simple Final Accounts Level

17.1 What are Final Accounts?

17.2 The Trial Balance from Which Final Accounts are Prepared

17.3 Exercises: Preparation of a Trial Balance

17.4 Final Accounts—The Trading Account

17.5 Exercises: Trading Accounts

17.6 The Profit and Loss Account

17.7 Exercises: Profit and Loss Accounts

17.8 The Appropriation of Profits

17.9 The Residue of the Trial Balance

17.10 History Makes a Mess of Things—The Balance Sheet Reversed

17.11 The Order of Permanence and the Order of Liquidity

17.12 Exercises: Simple Final Accounts

18 Adjustments in Final Accounts

18.1 The Nature of Adjustments

18.2 Adjustments No. 1—Payments in Advance by the Firm

18.3 Adjustments No. 2—Payments in Advance to the Firm

18.4 Exercises: Payments in Advance

18.5 Adjustments No. 3—Accrued Expenses Owed by the Firm

18.6 Adjustments No. A—Accrued Receipts Due to the Firm

18.7 Exercises: Accured Expenses and Accrued Receipts

18.8 Exercises: Final Accounts Exercises Including Payments in Advance and Accrued Expenses

18.9 Adjustments No. 5—Bad Debts

18.10 Adjustments No. 6—Provision for Bad Debts

18.11 What Happens to the Provision for Bad Debts in the Next Year

18.12 Exercises: Bad Debts and Provision for Bad Debts

18.13 Adjustment No, 7—Provision for Discounts on Debtors

18.14 Adjustments No. 8—Depreciation of Assets

18.15 Adjustments No. 9—Goodwill, and Writing off Goodwill

18.16 Exercises: Depreciation

18.17 Specimen Exercise to Final Accounts, with Adjustments

18.18 Exercises: Final Accounts with Adjustments

19 Final Accounts for Various Types of Business Units

19.1 Types of Business Unit

19.2 Partnership Accounts

19.3 Exercises: The Final Accounts of Partnerships

19.4 The Final Accounts of Limited Companies

19.5 The Appropriation Account of a Limited Company

19.6 The Balance Sheet of a Limited Company

19.7 The Published Accounts of Limited Companies

19.8 Exercises: The Final Accounts of Companies

19.9 Club Accounts (the Accounts of Non-Profit-Making Organisations)

19.10 Exercises: The Final Accounts of Clubs

19.11 Local Government Accounts

19.12 The Accounts of Central Government

19.13 The Increased Net Worth Method of Finding Profits

19.14 Exercises: Finding Profits by the Increased Net Worth Method

20 Accounting Ratios

20.1 What are Accounting Ratios?

20.2 The Gross Profit Percentage

20.3 The Net Profit Percentage and Expense Ratios

20.4 Exercises: Gross Profit and Net Profit Percentages

20.5 Turnover, Rate of Turnover or Rate of Stockturn

20.6 Exercises: Rate of Stock Turnover

20.7 Vocabulary for the Balance Sheet Ratios

20.8 The Working Capital Ratio (or Current Ratio)

20.9 The Acid-Test Ratio or 'Quick Ratio'

20.10 Return on Capital Employed (or Return on Capital

20.11 Exercises: Balance Sheet Vocabulary and Ratios



No. of pages:
© Made Simple 1979
1st January 1979
Made Simple
eBook ISBN:

About the Authors

Ken Hoyle

Geoffrey Whitehead

Geoff Whitehead is one of the original Made Simple authors and has sold over 2 million Made Simple books. Before writing full-time he was Head of Professional Studies at Thurrock College, and he now runs a small business consultancy for one of the main publishers of account books. With day-to-day advice at a grass roots level he is still 'keeping it simple' for 350,000 book-keepers using the system each year.

Affiliations and Expertise


Ratings and Reviews