By Paul M. Collier
Accounting for Managers explains how accounting info is utilized by non-financial managers. The booklet emphasizes the translation, instead of the development, of accounting info and encourages a serious, instead of unthinking reputation, of the underlying assumptions at the back of accounting. It hyperlinks idea with useful examples and case stories drawn from actual existence enterprise occasions in provider, retail and production industries.
Paul M. Collier applies a managerial method of convey how one can:
- Understand the connection among technique, company occasions and monetary info.
- Use accounting info in making plans, decision-making and keep watch over.
- Identify the options that underlie the development of accounting reviews and the constraints of accounting numbers.
The e-book has been written for MBA and different postgraduate scholars, undergraduate scholars who're venture classes in accounting that don't bring about specialist accreditation, and non-financial managers who desire a larger realizing of the function of accounting of their firms.
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Additional info for Accounting for Managers: Interpreting Accounting Information for Decision-Making
P. 59) This is a more critical perspective than that associated with the traditional notion of accounting as a report to shareholders and managers, which is a result of the historical development of capitalism in the West. Conclusion While this book is designed to help non-ﬁnancial managers understand the tools and techniques of accounting, it is also intended to make readers think critically about the role of accounting and the limitations of accounting, some of which have been historically deﬁned.
45). While the rich accumulated proﬁts, labour was exploited with wages at subsistence levels. Labour had to learn how to work, unlike agriculture or craft industries, in a manner suited to industry, and the result was a draconian master/servant relationship. In the 1840s a depression led to unemployment and high food prices and 1848 saw the rise of the labouring poor in European cities, who threatened both the weak and obsolete regimes and the rich. This resulted in a clash between the political (French) and industrial (British) revolutions, the ‘triumph of bourgeois-liberal capitalism’ and the domination of the globe by a few western regimes, especially the British in the mid-nineteenth century, which became a ‘world hegemony’ (Hobsbawm, 1962).
Conservatism Accounting is a prudent practice, in which the sometimes over-optimistic opinions of non-ﬁnancial managers are discounted. A conservative approach tends to recognize the downside of events rather than the upside. However, as mentioned above, the pressure on listed companies from analysts to meet stock market expectations of proﬁtability has resulted from time to time in ‘creative’ accounting practices (discussed in Chapter 7), such as those that led to problems at Enron and WorldCom.