By Paul M. Collier
Accounting for Managers explains how accounting details is utilized by non-financial managers. The ebook emphasizes the translation, instead of the development, of accounting info and encourages a severe, instead of unthinking recognition, of the underlying assumptions at the back of accounting. It hyperlinks conception with useful examples and case reports drawn from actual existence company occasions in provider, retail and production industries.
Paul M. Collier applies a managerial method of convey how one can: comprehend the connection among process, enterprise occasions and monetary info. Use accounting details in making plans, decision-making and regulate. determine the options that underlie the development of accounting studies and the restrictions of accounting numbers. The publication has been written for MBA and different postgraduate scholars, undergraduate scholars who're project classes in accounting that don't result in expert accreditation, and non-financial managers who want a larger figuring out of the function of accounting of their organisations.
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Extra info for Accounting For Managers Interpreting Accounting Information For Decision Making
Accountants deﬁne costs in monetary terms, and while we will focus on monetary costs, readers should recognize that there are not only non-ﬁnancial measures of performance but also human, social and environmental costs. For example, making employees redundant causes family problems (a human cost) and transfers to society the obligation to pay social security beneﬁts (a social cost). Pollution causes long-term environmental costs that are also transferred to society. These are as important as (and perhaps more important than) ﬁnancial costs, but they are not recorded by accounting systems (see Chapter 7 for a further discussion).
Developments such as total quality management, just-in-time inventory, computer-integrated manufacturing, shorter product life cycles (see Chapter 9) and the decline of manufacturing and rise of service industries have led to the need for ‘accurate knowledge of product costs, excellent cost control, and coherent performance measurement’ (p. 220). 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.
1996). From discipline to dialogue: Individualizing and socializing forms of accountability. In R. Munro and J. Mouritsen (eds), Accountability: Power, Ethos and the Technologies of Managing, International Thomson Business Press. Stone, W. E. (1969). Antecedents of the accounting profession. The Accounting Review, April, 284–91. Vatter, W. J. (1950). Managerial Accounting. New York, NY: Prentice Hall. 2 Accounting and its Relationship to Shareholder Value and Business Structure This chapter develops the two themes that were identiﬁed in Chapter 1 as being important to the content of this book: the separation of ownership from control and the divisionalized form of business.
Accounting For Managers Interpreting Accounting Information For Decision Making by Paul M. Collier