By Paul M. Collier
Accounting for Managers explains how accounting details is utilized by non-financial managers. The publication emphasizes the translation, instead of the development, of accounting details and encourages a severe, instead of unthinking reputation, of the underlying assumptions in the back of accounting. It hyperlinks thought with useful examples and case reviews drawn from genuine existence company occasions in provider, retail and production industries.
Paul M. Collier applies a managerial method of convey find out how to:
- Understand the connection among procedure, enterprise occasions and fiscal info.
- Use accounting info in making plans, decision-making and regulate.
- Identify the options that underlie the development of accounting studies and the restrictions of accounting numbers.
The ebook has been written for MBA and different postgraduate scholars, undergraduate scholars who're venture classes in accounting that don't result in expert accreditation, and non-financial managers who want a higher realizing of the position of accounting of their corporations.
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Extra info for Accounting for Managers: Interpreting Accounting Information for Decision-Making
Hoskin, K. ) (1996). The ‘awful idea of accountability’: Inscribing people into the measurement of objects. In R. Munro and J. Mouritsen (eds), Accountability: Power, Ethos and the Technologies of Managing, International Thomson Business Press. Johnson, H. T. and Kaplan, R. S. (1987). Relevance Lost: The Rise and Fall of Management Accounting. Boston, MA: Harvard Business School Press. Otley, D. T. and Berry, A. J. (1994). Case study research in management accounting and control. Management Accounting Research, 5, 45–65.
Conservatism Accounting is a prudent practice, in which the sometimes over-optimistic opinions of non-ﬁnancial managers are discounted. A conservative approach tends to recognize the downside of events rather than the upside. However, as mentioned above, the pressure on listed companies from analysts to meet stock market expectations of proﬁtability has resulted from time to time in ‘creative’ accounting practices (discussed in Chapter 7), such as those that led to problems at Enron and WorldCom.
And ‘the challenge for today’s competitive environment is to develop new and more ﬂexible approaches to INTRODUCTION TO ACCOUNTING 9 the design of effective cost accounting, management control, and performance measurement systems’ (p. 224). Recent developments in management accounting Partly as a result of the stimulus of Relevance Lost but perhaps more so as a consequence of rapidly changing business conditions, management accounting has moved beyond its traditional concern with a narrow range of numbers to incorporate wider issues of performance measurement and management.
Accounting for Managers: Interpreting Accounting Information for Decision-Making by Paul M. Collier