Accounting for Managers Interpreting Accounting Information for Decision-Making

ISBN-10: 1119979676

ISBN-13: 9781119979678

Edition: 4th 2012

Authors: Paul M. Collier

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Description:

This updated and revised fourth edition of Accounting for Managers builds on the international success of the previous editions in explaining how accounting is used by non–financial managers.Emphasizing the interpretation rather than the construction of accounting information, Accounting for Managers encourages a critical, rather than an unthinking acceptance of accounting techniques. Whilst immensely valuable for planning, decision–making and control, users of accounting information need to recognize the assumptions behind, and the limitations of particular accounting techniques.As in the previous editions, Accounting for Managers links theory with practical examples and case studies drawn from real business situations across a wide range of manufacturing, retail and service industries.
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Book details

List price: $44.99
Edition: 4th
Copyright year: 2012
Publisher: John Wiley & Sons, Limited
Publication date: 2/3/2012
Binding: Paperback
Pages: 580
Size: 7.50" wide x 9.25" long x 1.50" tall
Weight: 0.220
Language: English

Preface to the Fourth Edition
About the Author
Acknowledgements
Context of Accounting
Introduction to Accounting
Accounting, accountability and the account
Introducing the functions of accounting
A short history of accounting
The role of financial accounting
The role of management accounting
Recent developments in accounting
The relationship between financial accounting and management accounting
A critical perspective
Conclusion
References
Questions
Accounting and its Relationship to Shareholder Value and Corporate Governance
Capital and product markets
Shareholder value-based management
Shareholder value, strategy and accounting
Company regulation and corporate governance
The regulation of companies
Corporate governance
Principles of corporate governance
Responsibility of directors
Audit
Audit committees
Stock Exchange Listing Rules
Risk management, internal control and accounting
A critical perspective
Conclusion
References
Websites
Questions
Recording Financial Transactions and the Principles of Accounting
Business events, transactions and the accounting system
The double entry: recording transactions
Extracting financial information from the accounting system
Basic principles of accounting
Accounting entity
Accounting period
Matching principle
Monetary measurement
Historic cost
Going concern
Conservatism
Consistency
Cost terms and concepts: the limitations of financial accounting
Conclusion
References
Questions
Management Control, Accounting and its Rational-Economic Assumptions
Management control systems
Planning and control in organizations
Non-financial performance measurement
A theoretical framework for accounting
Conclusion
References
Websites
Interpretive and Critical Perspectives on Accounting and Decision Making
Research and theory in management control and accounting
Alternative paradigms
The interpretive paradigm and the social construction perspective
Culture, control and accounting
The radical paradigm and critical accounting
Power and accounting
Case study 5.1: easyJet
Ethics and accounting
Case study 5.2: Enron
Case study 5.3: WorldCom
Conclusion
References
The Use of Financial Statements for Decision Making
Constructing Financial Statements: IFRS and the Framework of Accounting
International Financial Reporting Standards (IFRS)
Framework for the Preparation and Presentation of Financial Statements
Objectives of financial statements
Qualitative characteristics of financial statements
Elements of financial statements
Concepts of capital maintenance
True and fair view
Reporting profitability: the Statement of Comprehensive Income
Reporting financial position: the Statement of Financial Position
Accruals accounting
Depreciation
Specific IFRS accounting treatments
Accounting for sales taxes
Accounting for goodwill and impairment testing
Accounting for research and development expenditure
Accounting for leases
Reporting cash flow: the Statement of Cash Flows
Differences between the financial statements
Illustration
A theoretical perspective on financial statements
Agency theory
A critical perspective on financial statements and accounting standards
Conclusion
Reference
Websites
Appendix: IFRS as at 1 January 2011
Questions
Interpreting Financial Statements
Annual Reports
The context of financial statements
Ratio analysis
Profitability
Return on (shareholders�) investment (ROI)
Return on capital employed (ROCE)
Operating margin (or operating profit/sales)
Gross margin (or gross profit/sales)
Overheads/sales
Sales growth
Liquidity
Working capital
Acid test (or quick ratio)
Gearing
Gearing ratio
Interest cover
Activity/efficiency
Asset turnover
Working capital
Managing receivables
Managing inventory
Managing payables
Managing working capital
Shareholder return
Dividend per share
Dividend payout ratio
Dividend yield
Earnings per share (EPS)
Price/earnings (P/E) ratio
The relationship between financial ratios
Interpreting financial statements using ratios
Profitability
Liquidity
Gearing
Activity/efficiency
Shareholder return
Using the Statement of Cash Flows
Case study 7.1: HMV Group � interpreting financial statements
Using Accounting Information for Decision Making, Planning and Control
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