Management accounting for financial decisions:
Saved in:
| Main Authors: | , , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Oxford
Butterworth-Heinemann
1991
|
| Edition: | 1. publ. |
| Series: | Contemporary business series
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | IX, 321 S. graph. Darst. |
| ISBN: | 0750600675 |
Staff View
MARC
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| 245 | 1 | 0 | |a Management accounting for financial decisions |c Keith Ward, Sri Srikanthan and Richard Neal |
| 250 | |a 1. publ. | ||
| 264 | 1 | |a Oxford |b Butterworth-Heinemann |c 1991 | |
| 300 | |a IX, 321 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
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| 700 | 1 | |a Neal, Richard |e Verfasser |4 aut | |
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Record in the Search Index
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| adam_text | Contents
Preface xj
Part One Introduction and Overview
1 Introduction and overview 3
Defining the subject 3
The integrated nature of management accounting 5
Providing information not data 10
Types of decision ] 2
Management versus financial accounting 16
Future improvements in management accounting 19
Summary 21
Questions 21
Part Two Analysis
2 Review of financial statements 25
Overview 25
Introduction 25
Financial accounting and reporting 26
Accounting concepts 27
The profit and loss account 30
Accounting for inflation 34
Depreciation 36
Statement of source and application of funds 39
Profit versus cash 42
The balance sheet 43
Directors report 46
Auditors report 47
Stock Exchange requirements: admission of securities to Listing 47
Measuring historical performance of the business: return on
investment (ROI) 48
Different levels of calculating ROI relevant to different types of
analysis 50
Analysing investment returns 52
Other areas for financial analysis 52
Statement of value added 55
Information requirements for making decisions 55
Appendix: ratio analysis 57
vj Contents
3 Practical techniques used in the financial analysis process 60
Overview 60
Committed and discretionary costs 61
Opportunity cost 63
Classifying costs into fixed and variable 63
Cost volume profit analysis 64
The assumptions of CVP analysis 65
What information do the charts show? 66
Contribution analysis 67
Standard costing 72
Types of variances 75
Criticisms of standard costing variance analysis 77
Questions 78
Appendix: variance formulae 79
4 Analysis for management planning 80
Overview 80
Direct versus indirect costs 81
Product versus period costs 88
Profit versus cash flow 90
Marginal costing 92
Differential versus average costs 94
Marginal cost and contribution 95
Analysing the budget 96
Economic decision versus assessment of managerial performance 98
Zero base budgeting 99
Questions 100
5 Selecting the right analytical techniques for the right decision 103
Overview 103
Marginal versus absorption costing 103
Impact on profit 104
Analysing the impact on profit 107
Impact of sales fluctuations 108
Arguments in support of marginal costing 108
Arguments in support of absorption costing 109
Stock valuation: a problem area for analysis? 110
Stock management 114
Determining the economic order quantity 115
Japanese management accounting 118
Stock valuation and pricing 119
Questions 120
Appendix: mathematical derivation of EOQ formula 122
Contents vii
Part Three Planning
6 Relevant costs for decision making 125
Overview 125
Introduction 125
Decisions 126
Financial accounts and cost accounts 130
Committed costs and sunk costs 133
The importance of cash flows to decision making 135
Decision making example 136
Relevant costs 141
Differential costs 142
Avoidable costs 143
Opportunity costs 143
Summary 144
Consumer Products Ltd: out sourcing 144
Questions 147
Appendix: solution to Consumer Products Ltd 148
7 Techniques for capital investment appraisal 150
Overview 150
Introduction 150
Timing of returns 151
Initial investment 152
Life of the project 155
Certainty of returns risk 155
Strategic importance to company 157
Basic methods of capital project evaluation 159
Peter Piper is puzzled 170
Summary 174
Questions 174
Appendix 1: discount factors present value tables 176
Appendix 2: cumulative discount factors annuity tables 178
8 Long term decision making 180
Overview 180
Introduction 180
Capital budgeting process 182
Conflict of short term and long term 184
The planning cycle 188
Risk and return 191
Business risk and financial risk 194
Cost of capital 195
Allowing for risk in project evaluation 197
Questions 198
viij Contents
9 Short term decision making 199
Overview 199
Introduction 199
Difference between the short and long term 200
Position of budgets within the long term planning process 201
Benefits of budgeting 204
The budgeting process 207
Rolling forecasts and flexible budgeting 217
Zero base budgeting 220
Financing the plan 221
Questions 223
10 Information requirements of strategic decisions 224
Overview 224
Introduction 225
Strategic management 225
Problems of traditional management accounting systems 229
Case study 232
Marketing investment decisions 236
Other types of strategic decision 238
Questions 241
Part Four Control
11 The requirements of financial control systems 245
Overview 246
Introduction 246
Communication and motivation 249
Efficiency versus effectiveness measures 255
Responsibility centres 259
Investment centres 262
Profit and contribution centres 267
Revenue centres 270
Cost (or expense) centres 271
Impact of computers 272
Questions 275
12 Financial control systems in practice 276
Overview 276
Introduction 277
The right managers 280
The right information 281
Sales variances 285
Raw material variances 286
Labour variances 287
The right time 291
Questions 293
Contents ix
Part Five The Way Ahead
13 Evolution of the new management accounting 297
Overview 297
Introduction 297
Information technology 299
Use of time as a competitive variable 304
Link of management accounting to business strategy 307
Brands versus products 309
Globalization of brands and markets 311
New manufacturing systems 312
Communication gaps 313
Questions 314
Recommended further reading 315
Index 317
|
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| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
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| id | DE-604.BV005534083 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T16:31:15Z |
| institution | BVB |
| isbn | 0750600675 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-003469209 |
| oclc_num | 24632606 |
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| owner | DE-384 DE-739 DE-20 |
| owner_facet | DE-384 DE-739 DE-20 |
| physical | IX, 321 S. graph. Darst. |
| publishDate | 1991 |
| publishDateSearch | 1991 |
| publishDateSort | 1991 |
| publisher | Butterworth-Heinemann |
| record_format | marc |
| series2 | Contemporary business series |
| spelling | Ward, Keith 1949- Verfasser (DE-588)137837135 aut Management accounting for financial decisions Keith Ward, Sri Srikanthan and Richard Neal 1. publ. Oxford Butterworth-Heinemann 1991 IX, 321 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Contemporary business series Industrial management Decision making Managerial accounting Finanzmanagement (DE-588)4139075-1 gnd rswk-swf Management Accounting (DE-588)4125415-6 gnd rswk-swf Management Accounting (DE-588)4125415-6 s Finanzmanagement (DE-588)4139075-1 s DE-604 Srikanthan, Sri Verfasser aut Neal, Richard Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=003469209&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Ward, Keith 1949- Srikanthan, Sri Neal, Richard Management accounting for financial decisions Industrial management Decision making Managerial accounting Finanzmanagement (DE-588)4139075-1 gnd Management Accounting (DE-588)4125415-6 gnd |
| subject_GND | (DE-588)4139075-1 (DE-588)4125415-6 |
| title | Management accounting for financial decisions |
| title_auth | Management accounting for financial decisions |
| title_exact_search | Management accounting for financial decisions |
| title_full | Management accounting for financial decisions Keith Ward, Sri Srikanthan and Richard Neal |
| title_fullStr | Management accounting for financial decisions Keith Ward, Sri Srikanthan and Richard Neal |
| title_full_unstemmed | Management accounting for financial decisions Keith Ward, Sri Srikanthan and Richard Neal |
| title_short | Management accounting for financial decisions |
| title_sort | management accounting for financial decisions |
| topic | Industrial management Decision making Managerial accounting Finanzmanagement (DE-588)4139075-1 gnd Management Accounting (DE-588)4125415-6 gnd |
| topic_facet | Industrial management Decision making Managerial accounting Finanzmanagement Management Accounting |
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