Accounting for Managers: Interpreting accounting information for decision-making
ACCOUNTING AND ITS RELATIONSHIP TO SHAREHOLDER VALUE 17 The seven value drivers determine the cash flow from operations, the lev ...
18 ACCOUNTING FOR MANAGERS Strategy Shareholder value Financial accounting (stewardship) Marketing operations Human resources Fi ...
ACCOUNTING AND ITS RELATIONSHIP TO SHAREHOLDER VALUE 19 An economic perspective is added by Grant (1998), who saw the value crea ...
20 ACCOUNTING FOR MANAGERS Marketing Operations Human Resources Accounting Chief Executive Figure 2.4 Functional organization ch ...
ACCOUNTING AND ITS RELATIONSHIP TO SHAREHOLDER VALUE 21 Management within divisions will carry out a significant function in ana ...
22 ACCOUNTING FOR MANAGERS the power of stakeholders, with their competing interests, is managed by the organization in terms of ...
ACCOUNTING AND ITS RELATIONSHIP TO SHAREHOLDER VALUE 23 Conclusion While Chapter 1 provided an introduction to accounting, its h ...
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3 Recording Financial Transactions and the Limitations of Accounting In order to understand the scorekeeping process, we need to ...
26 ACCOUNTING FOR MANAGERS system.Accountscan be considered as ‘buckets’ within the accounting system containing similar transac ...
RECORDING FINANCIAL TRANSACTIONS 27 The double entry: recording transactions Businesses use a system of accounting calleddouble ...
Table 3.1 Business transactions and the double entry Business event Transaction Source document Accountsaffected Type ofaccount ...
RECORDING FINANCIAL TRANSACTIONS 29 Table 3.2 Summarizing business transactions in a ledger Account transaction Asset equipment ...
30 ACCOUNTING FOR MANAGERS Table 3.4 Balance Sheet Assets Liabilities Equipment 25,000 Creditors 6,000 Inventory 11,000 Capital ...
RECORDING FINANCIAL TRANSACTIONS 31 2 Profit is not the same as cash flow. Although there has been a profit of £1,000, the bank ...
32 ACCOUNTING FOR MANAGERS year at the end of a calendar or national fiscal year. The business cycle is more important than the ...
RECORDING FINANCIAL TRANSACTIONS 33 such as Microsoft, which have enormous goodwill and intellectual property but a low asset ba ...
34 ACCOUNTING FOR MANAGERS managers is cost, which forms the basis for most of the following chapters. The calculation of cost i ...
RECORDING FINANCIAL TRANSACTIONS 35 (a valuable resource), whereas anopportunity costis the lost opportunity of not doing someth ...
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