Accounting for Non-AccountantsDesigned for students and managers who are approaching the subject from a non-finance background, Accounting for Non-Accountants guides readers through the maze of financial terms, theories and techniques surrounding business finance and accounting, doing so in a logical, meaningful and easy-to-follow style. Completely rewritten and updated for 2013, it includes information on the latest accounting standards and taxation issues, and is structured to provide in-depth understanding in three key areas: annual accounts (including profit and loss accounts, balance sheets, cash flow and reporting standards); management accounting (costing, cost-based pricing, marginal costing and budgetary controls); and financial management (including the cost of capital, working capital, takeovers, buy-outs, taxation and international transactions). Widely used as an introductory text for business and management students on a variety of courses, Accounting for Non-Accountants remains essential reading for anyone looking to gain a solid understanding of accounting principles and practice. |
Contents
Financial record keeping | 1 |
Income statements | 21 |
The balance sheet | 33 |
Further adjustments to the income statement | 51 |
Accounting concepts | 73 |
Accounting for other business organizations | 83 |
An introduction to business costing | 107 |
Marginal costing and decision making | 137 |
Working capital management | 207 |
Capital investment appraisal | 223 |
An introduction to limited companies | 245 |
Published accounts of
the limited company | 263 |
Accounting standards | 293 |
Statement of cash flows | 313 |
Accounting ratios | 335 |
| 365 | |
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Common terms and phrases
absorption costing accounting standards actual appear bad debts Balance b/d balance sheet Bank basis book value break-even calculated as follows Cash and cash cash budget cash flow cash inflows cash outflow company’s comprehensive income cost centres cost unit costs incurred current assets Current liabilities customers depreciation direct costs Direct labour discount dividends ended 31 December equity example expenditure expenses figure financial statements firm firm’s fixed costs forecast Gross profit IFRS income statement intangible asset interest investment appraisal issue limited company marginal costing means method non-current assets Non-current liabilities Opening inventory Ordinary share overall paid payback payment production profit margin profit or loss public limited companies Purchases ratio sales revenue selling price share capital Share premium account shareholders sold sole trader statement of cash statement of comprehensive statement of financial suppliers Trade payables trade receivables trial balance UK GAAP variance Wages XXX XXX