Michael Jones is Professor of Financial Reporting and Director of the Financial Reporting and Business Communication Unit at Cardiff Business School. He is also author of ‘Accounting’ 2nd edition and ‘Financial Accounting’ both published by John Wiley and Sons Ltd.
About the Author.
About the Book.
1 Introduction to Accounting.
Nature of Accounting.
Importance of Accounting.
Financial Accounting and Management Accounting.
Users of Accounts.
Types of Accountancy.
Types of Accountant.
Limitations of Accounting.
2 Introduction to Management Accounting.
Relationship with Financial Accounting.
Cost Minimisation and Revenue Maximisation.
Use of Computers.
Importance of Cost Accounting.
Types of Cost.
Costing for Stock Valuation.
Different Costing Methods for Different Industries.
4 Planning, Control and Performance: Budgeting.
Management Accounting Control Systems.
Nature of Budgeting.
Comprehensive Budgeting Example.
Behavioural Aspects of Budgeting.
5 Planning, Control and Performance: Standard Costing.
Nature of Standard Costing.
Standard Cost Variances.
Interpretation of Variances.
6 Short-Term Decision Making.
7 Strategic Management Accounting.
Nature of Strategic Management Accounting.
Assessment of Current Position of the Business.
Appraisal of Current Position of the Business.
Strategic Choice of Future Direction.
8 Long-Term Decision Making: Capital Investment Appraisal.
Nature of Capital Investment.
Capital Investment Appraisal Techniques.
Appendix 21.1 Present Value of £1 at Compound Interest Rate (1 + r).
9 The Management of Working Capital and Sources of Finance.
Nature of Sources of Finance.
Cost of Capital.
Glossary of Key Accounting Terms.