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Financial Accounting for Managers, 3e

Book Description

Financial Accounting for Managers, 3e seeks to provide a comprehensive coverage of the basic principles of financial accounting, incorporating the latest accounting norms and standards. This book is primarily meant to be used in postgraduate programmes of various universities and institutions and can be used as an introductory course on accounting. This edition would also be helpful to practicing managers – both in finance and non-finance areas, so that they can sharpen their skills in understanding and analysing financial and accounting information.

Table of Contents

  1. Cover
  2. About Pearson
  3. Title Page
  4. Contents
  5. Preface
  6. Acknowledgements
  7. About the Author
  8. 1 INTRODUCTION TO ACCOUNTING
    1. 1.1 What is Accounting?
    2. 1.2 Users of Financial Accounting Information
    3. 1.3 Financial Accounting Versus Management Accounting
    4. 1.4 Need for Accounting Principles—GAAP and Accounting Standards
    5. 1.5 Accounting Cycle
    6. 1.6 Financial Statements
    7. 1.7 Accounting Environment
  9. 2 GENERALLY ACCEPTED ACCOUNTING PRINCIPLES AND ACCOUNTING STANDARDS
    1. 2.1 Nature of Generally Accepted Accounting Principles
    2. 2.2 Need for Accounting Standards
    3. 2.3 Accounting Standards in India
    4. 2.4 Globalization of Accounting Standards
  10. 3 ACCOUNTING CYCLE
    1. 3.1 Introduction
    2. 3.2 Accounting Process
    3. 3.3 Journal Entry
    4. 3.4 Classification
    5. 3.5 Summarization
    6. 3.6 Adjustment Entries
    7. 3.7 Financial Statements
  11. 4 FINANCIAL STATEMENTS OF COMPANIES
    1. 4.1 Introduction
    2. 4.2 Financial Statements
    3. 4.3 Statement of Profit and Loss
    4. 4.4 Balance Sheet
    5. 4.5 Statement of Change in Equity
    6. 4.6 Cash Flow Statement
    7. 4.7 Notes to Accounts
  12. 5 STATEMENT OF PROFIT AND LOSS
    1. 5.1 Introduction
    2. 5.2 Format of Statement of Profit and Loss
    3. 5.3 Revenue
    4. 5.4 Expenses
    5. 5.5 Exceptional Items
    6. 5.6 Tax Expenses
    7. 5.7 Profit/Loss From Discontinued Operations
    8. 5.8 Profit/Loss for the Period
    9. 5.9 Other Comprehensive Income (OCI)
    10. 5.10 Earnings Per Share
    11. 5.11 Various Measures of Profit
    12. 5.12 Appropriation of Profit
  13. 6 BALANCE SHEET
    1. 6.1 Introduction
    2. 6.2 Format of Balance Sheet
    3. 6.3 Assets
    4. 6.4 Non-Current Assets
    5. 6.5 Current Assets
    6. 6.6 Current Tax Assets (NET)
    7. 6.7 Other Current Assets
    8. 6.8 Equity and Liabilities
    9. 6.9 Equity
    10. 6.10 Statement of Change in Equity
    11. 6.11 Liabilities
    12. 6.12 Non-Current Liabilities
    13. 6.13 Current Liabilities
    14. 6.14 Contingent Liabilities and Commitments
  14. 7 ACCOUNTING FOR REVENUE
    1. 7.1 Revenue
    2. 7.2 Quantum of Revenue
    3. 7.3 Timing of Revenue Recognition
    4. 7.4 Impact of Uncertainty
    5. 7.5 Disclosures
    6. 7.6 Accounting for Receivables
  15. 8 ACCOUNTING AND VALUATION OF INVENTORY
    1. 8.1 Meaning of Inventory
    2. 8.2 Inventories and the Financial Statements
    3. 8.3 Methods of Inventory Accounting
    4. 8.4 Valuation of Inventory
    5. 8.5 Costing Methods
    6. 8.6 Disclosures
  16. 9 ACCOUNTING FOR FIXED ASSETS AND DEPRECIATION
    1. 9.1 Introduction
    2. 9.2 Property, Plant and Equipment
    3. 9.3 Investment Property
    4. 9.4 Intangible Assets
    5. 9.5 Impairment of Asset
  17. 10 ACCOUNTING FOR INVESTMENTS
    1. 10.1 Introduction
    2. 10.2 Classification of Investments
    3. 10.3 Measurement
    4. 10.4 Investment in Subsidiaries, Associates and Joint Venture
  18. 11 CASH FLOW STATEMENT
    1. 11.1 Introduction
    2. 11.2 Cash Flow Statement
    3. 11.3 Cash Flow from Operating Activities
    4. 11.4 Cash Flow from Investing Activities
    5. 11.5 Cash Flows from Financing Activities
    6. 11.6 Special Points
    7. 11.7 Cash Flows at Different Stages of Life cycle
  19. 12 CONSOLIDATED FINANCIAL STATEMENTS
    1. 12.1 Introduction
    2. 12.2 Concept of Control
    3. 12.3 Consolidated Financial Statements
    4. 12.4 Consolidated Statement of Profit and Loss
    5. 12.5 Consolidated Balance Sheet
    6. 12.6 Investments in Associates and Joint Ventures
  20. 13 DISCLOSURES IN ANNUAL REPORTS
    1. 13.1 Introduction
    2. 13.2 Disclosures under the Companies Act, 2013
    3. 13.3 Disclosures under Listing Agreement
    4. 13.4 Disclosures under Accounting Standards
    5. 13.5 Voluntary Disclosures
  21. 14 ANALYSIS OF FINANCIAL STATEMENTS
    1. 14.1 Introduction
    2. 14.2 Common Size Statements
    3. 14.3 Indexed Financial Statements
    4. 14.4 Ratio Analysis
    5. 14.5 Ratios to Predict Financial Insolvency
  22. 15 FINANCIAL SHENANIGANS
    1. 15.1 Introduction
    2. 15.2 Financial Shenanigans
    3. 15.3 Motivations for Financial Shenanigans
    4. 15.4 Opportunities for Financial Shenanigans
    5. 15.5 Financial Shenanigans Techniques
    6. 15.6 Regulatory Reactions
    7. 15.7 How to Detect Financial Shenanigans?
    8. 15.8 Prevention of Financial Shenanigans
  23. Copyright