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Accounting for Managers: Interpreting Accounting Information for Decision Making, 4th Edition

Name: Accounting for Managers: Interpreting Accounting Information for Decision Making, 4th Edition
Author: Paul M. Collier
ISBN: 9781119979678

by Paul M. Collier

March 2012

Beginner to intermediate

580 pages

18h 25m

English

Wiley

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Cover
Contents
Title
Copyright
Dedication
Preface to the Fourth Edition
About the Author
Acknowledgements
Part I: Context of Accounting
Chapter 1: Introduction to Accounting
Accounting, accountability and the accountIntroducing the functions of accountingA short history of accountingThe role of financial accountingThe role of management accountingRecent developments in accountingThe relationship between financial accounting and management accountingA critical perspectiveConclusionReferencesQuestions

Chapter 2: Accounting and its Relationship to Shareholder Value and Corporate Governance
Capital and product marketsShareholder value-based managementShareholder value, strategy and accountingCompany regulation and corporate governanceRisk management, internal control and accountingA critical perspectiveConclusionReferencesWebsitesQuestions
Chapter 3: Recording Financial Transactions and the Principles of Accounting
Business events, transactions and the accounting systemThe double entry: recording transactionsExtracting financial information from the accounting systemBasic principles of accountingCost terms and concepts: the limitations of financial accountingConclusionReferencesQuestions
Chapter 4: Management Control, Accounting and its Rational-Economic Assumptions
Management control systemsPlanning and control in organizationsNon-financial performance measurementA theoretical framework for accountingConclusionReferencesWebsites
Chapter 5: Interpretive and Critical Perspectives on Accounting and Decision Making
Research and theory in management control and accountingAlternative paradigmsThe interpretive paradigm and the social construction perspectiveCulture, control and accountingThe radical paradigm and critical accountingPower and accountingEthics and accountingConclusionReferences
Part II: The Use of Financial Statements for Decision Making
Chapter 6: Constructing Financial Statements: IFRS and the Framework of Accounting
International Financial Reporting Standards (IFRS)Framework for the Preparation and Presentation of Financial StatementsTrue and fair viewReporting profitability: the Statement of Comprehensive IncomeReporting financial position: the Statement of Financial PositionAccruals accountingDepreciationSpecific IFRS accounting treatmentsReporting cash flow: the Statement of Cash FlowsDifferences between the financial statementsA theoretical perspective on financial statementsA critical perspective on financial statements and accounting standardsConclusionReferenceWebsitesAppendix: IFRS as at 1 January 2011Questions
Chapter 7: Interpreting Financial Statements
Annual ReportsThe context of financial statementsRatio analysisProfitabilityLiquidityGearingActivity/efficiencyWorking capitalManaging receivablesManaging inventoryManaging payablesManaging working capitalShareholder returnThe relationship between financial ratiosInterpreting financial statements using ratiosUsing the Statement of Cash FlowsLimitations of ratio analysisAlternative theoretical perspectives on financial statementsIntellectual capitalInstitutional theoryCorporate social responsibilitySustainability and the ‘triple bottom line’Applying different perspectives to financial statementsConclusionReferencesWebsiteQuestions
Chapter 8: Accounting for Inventory
Introduction to inventoryMethods of costing inventory in manufacturingManagement accounting statementsConclusionQuestions
Part III: Using Accounting Information for Decision Making, Planning and Control
Chapter 9: Accounting and Information Systems
Introduction to accounting and information systemsMethods of data collectionTypes of information systemBusiness processesInternal controls for information systemsDeveloping information systemsConclusionReferences
Chapter 10: Marketing Decisions
Marketing strategyCost behaviourCost–volume–profit analysisAlternative approaches to pricingSegmental profitabilityCustomer profitability analysisConclusionReferencesQuestions
Chapter 11: Operating Decisions
The operations functionManaging operations – manufacturingManaging operations – servicesAccounting for the cost of spare capacityCapacity utilization and product mixTheory of ConstraintsOperating decisions: relevant costsTotal quality management and the cost of qualityEnvironmental cost managementConclusionReferencesQuestions
Chapter 12: Human Resource Decisions
Human resources and accountingThe cost of labourRelevant cost of labourConclusionReferencesQuestions
Chapter 13: Overhead Allocation Decisions
Cost classificationThe overhead allocation problemShifts in management accounting thinkingAlternative methods of overhead allocationActivity-based costingDifferences between absorption and activity-based costingContingency theoryInternational comparisonsBehavioural implications of management accountingConclusionReferencesQuestions
Chapter 14: Strategic Investment Decisions
StrategyCapital expenditure evaluationAccounting rate of returnPaybackDiscounted cash flowComparison of techniquesConclusionReferencesAppendix: Present value factorsQuestions
Chapter 15: Performance Evaluation of Business Units
Structure of business organizationsThe decentralized organization and divisional performance measurementControllabilityTransfer pricingTransaction cost economicsConclusion: a critical perspectiveReferencesQuestions
Chapter 16: Budgeting
What is budgeting?The budgeting processThe profit budgetCash forecastingA behavioural perspective on budgetingA critical perspective: beyond budgeting?ConclusionReferencesQuestions
Chapter 17: Budgetary Control
What is budgetary control?Flexible budgetingVariance analysisReconciling the variancesCriticism of variance analysisCost controlApplying different perspectives to management accountingConclusionReferencesQuestions
Chapter 18: Strategic Management Accounting
Strategic management accountingAccounting techniques to support strategic management accountingBackflush costingLean production and lean accountingConclusionReferencesFurther reading
Part IV: Supporting Information
Introduction to the Readings
Reading AHow Cost Accounting Distorts Product Costs
Reading B
Research in Management Control: An Overview of its Development
Reading C
Managerial Accounting Research: The Contributions of Organizational and Sociological TheoriesReading DAccounting and Organizational Cultures: A Field Study of the Emergence of a New Organizational Reality
Glossary of Accounting Terms
Solutions to Questions
Index

Overview

Updated and revised, the new 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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