Accounting for Business StudiesAccounting for Business Studies explains the role of accounting in modern business and management and shows you how to confidently evaluate ideas using profit and loss accounts, spreadsheets and cash flow forecasts etc. It illustrates financial models and concepts enabling you to write professional reports and prepare presentations on complex business problems. It gives you sufficient breadth of vision and commercial awareness to make recommendations on operational and strategic issues. The approach adopted is particularly relevant to undergraduate business students and the text will also serve as an introduction to MBA studies as well as professional accounting and management courses. No prior knowledge of accounting is assumed. Developing students' understanding of how complex businesses work in the global context is a difficult task. Accounting for Modern Business helps lecturers focus on modern commercial issues and integrates accounting into business and management studies This book includes: * A business perspective rather than an accounting perspective * Tight pedagogic structure * e-business, including case studies * Globalisation, including case studies * Business skills, interpretation, analysis and communication * IT integrated into specific business situations * Risk factors and risk reduction * Includes models such as Porter's Five Forces, Supply Chain, Product Life Cycle Aneirin Sion Owen is a Chartered Accountant and Senior Lecturer in accounting at Manchester Metropolitan University |
Contents
1 Introducing accounting | 1 |
2 The language of accounting | 15 |
3 The accounting framework | 27 |
4 Year end adjustments | 50 |
5 Trading and profit and loss account and balance sheet ... | 69 |
6 Cash flow forecasting | 102 |
7 Bad debt discounts and adjustments | 118 |
8 Budgeting | 142 |
12 Financial management | 251 |
13 Breakeven and margin of safety | 277 |
14 Costing | 301 |
15 Activitybased costing | 325 |
16 International business | 349 |
17 eBusiness | 373 |
18 Investment appraisal | 395 |
19 Accounting in the business environment | 421 |
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Common terms and phrases
account and balance accounting framework Assets Liabilities average balance sheet bank book value breakeven budget buying calculated cash flow forecast cash sales chapter Closing capital closing stock Contribution per unit cost driver rates cost of sales Credit purchases credit sales Creditor days Current assets Stock Current liabilities Current liabilities Creditors Current ratio customers debtor days DEBUG depreciation Direct labour Discount factor dividend e—business earned equipment exchange rate figures Fixed assets fixed costs follows Gross profit impact Income Expenditure increase interest rates Internet investment labour hours loan Loss Account Margin of safety Mei Lin million month Opening stock overdraft overheads P&L account paid payments PE ratio Porter's Five Forces production departments Profit and Loss reduce result return on capital risk selling price service departments share shareholders sold stock market stock turnover subsidiaries suppliers Total net assets Trading and Profit trial balance variable costs variance zero