By Paul M. Collier
Accounting for Managers explains how accounting details is utilized by non-financial managers. The publication emphasizes the translation, instead of the development, of accounting info and encourages a serious, instead of unthinking attractiveness, of the underlying assumptions at the back of accounting. It hyperlinks idea with functional examples and case reviews drawn from actual existence company events in carrier, retail and production industries.
Paul M. Collier applies a managerial method of express the right way to: comprehend the connection among approach, company occasions and fiscal info. Use accounting info in making plans, decision-making and keep watch over. establish the options that underlie the development of accounting experiences and the constraints of accounting numbers. The publication has been written for MBA and different postgraduate scholars, undergraduate scholars who're venture classes in accounting that don't result in specialist accreditation, and non-financial managers who desire a higher realizing of the position of accounting of their businesses.
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Extra resources for Accounting For Managers - Interpreting Accounting Information For Decision-making
Roberts and Scapens concluded: The image of an organization which is given through Accounts will be from a particular point of view, at a particular point in time and will be selective in its focus. Events, actions, etc. which are signiﬁcant for the organization may be out of focus, or not in the picture at all . . the image conveyed by the Accounts may misrepresent the actual ﬂow of events and practices that it is intended to record. (p. 454) The separation of management from control, the creation of decentralized business units and the pursuit of shareholder value imply a particular goal-oriented, economic and rational theory of management behaviour and organizational action.
433) Roberts (1996) suggested that organizational accounting embodies the separation of instrumental and moral consequences, which is questionable. He argued: The mystiﬁcation of accounting information helps to ﬁx, elevate and then impose upon others its own particular instrumental interests, without regard to the wider social and environmental consequences of the pursuit of such interests. Accounting thus serves as a vehicle whereby others are called to account, while the interests it embodies escape such accountability.
Shareholders’ interests dominate business and accountants occupy a privileged position as those who establish the rules and report business performance. This can be seen as a historical development. Stakeholder theory looks beyond shareholders to those groups who inﬂuence, or are inﬂuenced by, the organization. Shareholders are not representative of society and stakes are held in the organization by employees, customers, suppliers, government and the community. Stakeholder theory is concerned with how 22 ACCOUNTING FOR MANAGERS the power of stakeholders, with their competing interests, is managed by the organization in terms of its broader accountability.
Accounting For Managers - Interpreting Accounting Information For Decision-making by Paul M. Collier