Managing Finance

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ISBN: 9780750661010 | 0750661011
Cover: Nonspecific Binding
Copyright: 10/1/2004

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Managing Finance is developed from tried and tested materials that are easy to read and work is written from a managerial perspective for general managers on executive or MBA courses. The text focuses on accounting from the viewpoint of the needs of managers for financial information and understanding. Scenarios and examples are included that demonstrate a socially responsible approach. Business Scenarios are presented at the opening of each chapter and this is then used to explore the topics covered given at the start of the chapter. This approach is very appealing to people with business experience There is supplementary material with this text for the website with additional exercises, cases, multiple choice questions, Powerpoint presentations, and tutorial material. This will be kept up-to-date and provide links to other resources.

Preface

About the Author

xiii

1 Introduction to Accounting

(20)

The role of a business manager

(2)

The development of accounting

(1)

The need for accounting information

(1)

Different types of accounting

(2)

The objectives of a business

(2)

The principles of financial accounting

(2)

The development of management accounting

(1)

The nature of management accounting

(1)

Accounting information systems

(1)

The tasks of a manager

(2)

Performance evaluation

(1)

Communication

(1)

The importance of performance measurement

(1)

Managers and business ethics

(1)

Organisation of the book

(1)

Note

(1)

References

(1)

Additional questions

(1)

2 Reporting Financial Performance

(24)

Introduction

(2)

Cash flow statements

(1)

Cash flow forecasts

(4)

The profit and loss account and the balance sheet

(7)

Statutory accounts

(7)

Note

(1)

References

(1)

Additional questions

(3)

3 Analysing and Interpreting Company Accounts

(20)

Introduction

(1)

Analysing financial performance

(2)

The financial ratio toolkit

(12)

Applications of financial analysis

(1)

Analysing socially responsible performance

(2)

Conclusions

(1)

Additional questions

(2)

4 Value Based Management

(18)

Introduction

(1)

Creating value for shareholders

(1)

Measuring value added for shareholders

(1)

Value based management

(4)

Management for stakeholders

(2)

Creating value

(2)

Traditional measures of value created

(1)

The basic technique of VBM

(2)

The different techniques in use

(1)

VBM and social responsibility

(1)

Conclusions

(1)

Notes

(1)

References

(1)

Further reading

(1)

Additional questions

(1)

5 Introduction to Management Accounting

(23)

Introduction

(1)

Management accounting as management support

(1)

Corporate governance

(2)

The classification of costs

(7)

The objectives of cost classification

(8)

Other methods of cost classification

102

(2)

Additional questions

104

(2)

6 Cost-Volume-Profit (Break Even) Analysis

106

(22)

Introduction

106

(2)

Break even analysis

108

(1)

The use of C-V-P analysis

109

(13)

Advantages and shortcomings of using the concept of C-V-P analysis

122

(1)

Problems with C-V-P analysis

123

(1)

Comparison of economic theory and the accounting approach

124

(1)

Conclusion

125

(1)

Additional questions

125

(3)

7 Allocation and Apportionment of Costs

128

(31)

Introduction

128

(2)

The value of product costing

130

(1)

The components of the cost of production

131

(4)

The apportionment of expenditure

135

(2)

Relating departmental costs to production

137

(2)

Calculating overhead recovery rates

139

(2)

Capacity measurement

141

(1)

Calculation of the cost of a product

141

(1)

Socially responsible cost allocation

142

(3)

Different costing systems

145

(7)

The treatment of joint products

152

(1)

The treatment of by-products

153

(1)

Costing in a service environment

154

(1)

An appraisal of product costing

154

(2)

Conclusions

156

(1)

Further reading

156

(1)

Additional questions

156

(3)

8 Costing

159

(36)

Introduction

159

(1)

The absorption of overheads

160

(2)

Absorption costing

162

(6)

Costing a product

168

(2)

The philosophy of activity-based costing

170

(1)

The steps in activity-based costing

170

(2)

The calculation of product costs using ABC

172

(3)

Activity-based costing in service organisations

175

(1)

The variable-fixed cost dichotomy

176

(1)

The advantages of activity-based costing

177

(1)

The disadvantages of activity-based costing

178

(1)

An alternative form of costing

179

(9)

Product costing for Franklin Technology Ltd

188

(2)

The relative merits of absorption and marginal costing

190

(1)

Social responsibility and costing

190

(1)

Further reading

191

(1)

Additional questions

191

(4)

9 Budgeting

195

(19)

The function of management accounting

195

(1)

The budget planning process

196

(2)

Influencing managerial behaviour

198

(2)

The essential nature of budgeting

200

(2)

Preparing budgets

202

(1)

Co-ordination and responsibility

203

(1)

Working capital budgeting

204

(3)

Relating cash budgets to profit

207

(1)

Approaches to budgeting

208

(1)

Budgetary control

209

(1)

Benefits and problems associated with budgeting

210

(1)

Conclusions

211

(1)

References

211

(1)

Further reading

212

(1)

Additional questions

212

(2)

10 The Management of Performance

214

(30)

Introduction

214

(3)

Stakeholder perspectives on performance

217

(3)

The balanced scorecard

220

(4)

The measurement of performance

224

(2)

The reporting of performance

226

(2)

The evaluation of performance

228

(1)

Accounting and other measurements

229

(1)

The role of performance measurement

230

(3)

Multi-dimensional performance management

233

(1)

Agency theory

234

(5)

The implications of agency theory for management accounting

239

(1)

Conclusions

240

(1)

References

241

(1)

Additional questions

242

(2)

11 Investment Appraisal

244

(27)

Introduction

244

(2)

Capital investment decision-making

246

(1)

Cost of capital and capital investment decisions

247

(1)

Capital structure and the cost of capital

248

(2)

Capital budgeting

250

(1)

Life cycle costing

251

(1)

Allocating scarce resources between capital investment proposals

252

(1)

Methods of depreciation

253

(1)

Quantitative accounting methods of investment appraisal

254

(11)

Choosing the method of evaluation

265

(1)

Making investment decisions

266

(1)

The socially responsible evaluation of investment alternatives

267

(1)

Further evaluation of investment appraisal

268

(1)

Further reading

268

(1)

Additional questions

269

(2)

12 Responsibilities towards Stakeholders

271

(36)

Introduction

271

(1)

The development of accounting

272

(2)

Stakeholder influences on accounting

274

(2)

Social issues and their effects and implications

276

(1)

Environmental issues and their effects and implications

277

(2)

Regulation and its implications

279

(1)

The development of social accounting

280

(3)

The measurement and reporting of performance

283

(1)

Accountability and social activity

283

(1)

The principles of social accounting

284

(1)

Environmental accounting

285

(1)

The measurement of environmental impact

286

(2)

The environmental audit

288

(2)

The framework of accounting

290

(1)

The principles of environmental accounting

291

(2)

Principles of environmental reporting

293

(1)

Identifying social and environmental costs

294

(4)

The classification of environmental costs

298

(1)

The implementation of environmental accounting

299

(1)

The objectives of environmental accounting

300

(2)

The drivers of environmental accounting

302

(2)

Financial reporting and management accounting

304

(1)

Notes

305

(1)

References

305

(1)

Further reading

306

(1)

Additional questions

306

(1)

13 Accounting in a Business Context

307

(27)

Introduction

307

(1)

Strategic planning

308

(2)

Corporate planning

310

(1)

Planned and emergent strategy

311

(1)

Accounting and organisational design

312

(2)

The impact of IT upon business management

314

(1)

Ensuring the numbers make sense

314

(1)

The causes of the crisis in modern management accounting

315

(1)

The changing environment of accounting

316

(4)

Traditional cost systems fail to provide accurate product costs

320

(4)

A re-evaluation of product costing

324

(1)

The problems of performance measurement

325

(5)

Social responsibility and accounting

330

(1)

Conclusions

331

(1)

References

331

(2)

Further reading

333

(1)

Additional questions

333

(1)

Appendix 1

334

(21)

Appendix 2

355

(5)

Index

360

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Managing Finance

Summary

Table of Contents

Supplemental Materials

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Managing Finance

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