Financial and Management Accounting: An Introduction

This revised and fully updated edition continues to provide students with a clear and well-structured introduction to financial and management accounting. This edition retains all of the classic features that have contributed to the book’s success particularly its clarity of expression within a sound conceptual framework.  There is a strong emphasis on the ‘why’ rather than simply the ‘what’ and ‘how’.

Features

• Questions are graded to test student understanding of chapter content, as well as skills in straightforward application of knowledge, and skills of problem solving and evaluation.
• The book is accompanied by a comprehensive support package for lecturers, arranged on a chapter-by-chapter basis comprising of: student lecture notes on a ‘fill the gaps’ basis; graded questions to supplement those of chapters; including multiple choice questions; solutions to questions in the book; and ‘Safe & Sure’ annual report for analysis.

New to this Edition

·        Fully in line with IFRS, but provides comparative analysis with UK GAAP where relevant.

·        New case study material including financial statements, Directors’ Reports,and financial forcasts for companies such as: the Body Shop, Sainsburys, British Airports Authority, Matalan, Argos, Homebase, Burberry, Ottakers, Carphone Warehouse, BP

·        Redesigned to aid navigation and understanding for students

Table of Contents

Part 1    A conceptual framework: setting the scene

Chapter 1              Who needs accounting?

Chapter 2              A systematic approach to financial reporting:
the accounting equation

Chapter 3              Financial statements from the accounting equation

Chapter 4              Ensuring the quality of financial statements

Part 2                     Reporting the transactions of a business

Chapter 5              Accounting information for service businesses

Chapter 6              Accounting information for trading businesses

Part 3                     Recognition in financial statements

Chapter 7              Published financial statements

Chapter 8              Non-current (fixed) assets

Chapter 9              Current assets

Chapter 10      Current liabilities

Chapter 11      Provisions and non-current (long-term) liabilities

Chapter 12      Ownership interest

Part 4                Analysis and Issues in reporting

Chapter 13      Ratio analysis                                                                                                                             

Chapter 14      Reporting corporate performance

Chapter 15      Reporting cash flows

Glossary of financial accounting terms

MANAGEMENT ACCOUNTING

Part 5   Setting the scene and defining the basic tools of management accounting

Chapter 16  Functions of management accounting

Chapter 17      Classification of costs

Chapter 18  Product costs: materials, labour and overheads

Part 6  Job costs and stock valuation

Chapter 19  Job costing

Part 7  Decision making

Chapter 20  Breakeven analysis and short-term decision making

Part 8 Planning and control

Chapter 21  Preparing a budget

Chapter 22  Standard costs

Chapter 23  Performance evaluation and feedback reporting

Part 9  Capital investment appraisal and business strategy

Chapter 24  Capital investment appraisal

Chapter 25  Business strategy and management accounting

Financial accounting defined

Management accounting defined

Appendices

I  Information extracted from annual report of Safe and Sure plc, used throughout Financial Accounting

II   Solutions to numerical and technical questions in Financial Accounting                                                                                                 

III  Solutions to numerical and technical questions in Management Accounting

Index