Financial Accounting in Practice: Practical Questions in the Ghanaian Perspective

Abstract

More often that not, our accounting practices at the corporate levels have been very different from what actually goes on in our schools and universities. Many of our graduate students in accounting get into the real world of work and realised that whatever they learnt in the classrooms have not much impact on the practice of accounting in the corporate environment. This book intends to bring some practical (not totally though, but I am sure it would help others to start thinking about the solutions) questions for prospective accounting graduates to test themselves on the realities of accounting jobs. The business or corporate environments, I agreed, differ from one industry to another and also from one particular organisation to the other. However, there are various issues which are very common with any accounting practice, such as taxation and VAT. There is also a generally accepted practices in the Ghanaian business environment (and every other place in the world) which are practicable within every organization.The “Financial Accounting Practices, Question and Answers” is compiled to help aspiring accounting professionals to engage themselves in both theory and practical questions in accounting. Most of the questions in this book are designed to help students understand some practical activities carried out by the account officers in the corporate environments. I hope that it would be of immense help to all those who are currently practicing accounting and still having petty problems on the job by using it as a reference material for their jobs. I also hope that this material would go a long way to help University students in Accounting, Polytechnic students in DBS Accounting and aspiring Professionals in any Accounting Field in their endeavour to helping build a good Corporate Governance for their countries’ business activities and beyond, which would protect the investors’ interest and thereby encouraging more foreign and local investors to invest in the country.