Accounting in a Nutshell
Accounting for the non-specialist
- Janet Walker, Independent lecturer and consultant
Designed primarily for middle and junior management who deal with financial information without really understanding the content; students who are studying accounting as a non-specialist subject, for example on a business studies or engineering course. The book serves as a basic reference to be used throughout the course. It will also be particularly helpful in providing the basic grounding that is required before moving on to the more technical and in-depth study of the subject that may be required on some courses. Students who are embarking on a course of study to become a professional accountant will also find this book of major benefit.In addition to revisions through out, a new new chapter 'Making long-term investment decisions' covering capital investment decisions, extends and rounds out the final part of the book: using Financial Information to Manage a Business. The chapter deals with the investment appraisal process and covers the main investment appraisal techniques from the point of view of a non-specialist: payback periods, accounting rate of return and discounted cash flow methods are just some of the new topics covered.The focus will be on the level of understanding that a non-specialist requires in the work place as such, in keeping with the rest of the book, the chapter includes practical examples and exercises to enhance the reader's understanding.
Middle and Junior Managers who are new to accounting and/or do not have a financial background and who do not want to delve into the minutiae of IFRS / IAS accounting standards, but need a book which explains in easy language what accounts are all about, who uses them and why, what each of the vital elements (P&L, balance sheet, cashflow statement) of the annual report and accounts is needed for, and what information is contained therein, and what is not!For those with some financial background (may have studied Financial Reporting as part of an MBA module for example) this book takes you back to basics and so ensures that you fully understand the accounting function. Especially useful if you are moving from one specialised accounting function (eg credit analysis) but need to fully understand the wider "general principles" involved in understanding all of the finance department functions.