About the Author.
About the Book.
Second Edition.
Acknowledgements.
Dedication.
1 Introduction to Accounting.
Introduction.
Nature of Accounting.
Importance of Accounting.
Financial Accounting and Management Accounting.
Users of Accounts.
Accounting Context.
Types of Accountancy.
Types of Accountant.
Limitations of Accounting.
Conclusion.
Discussion Questions.
Management Accounting.
2 Introduction to Management Accounting.
Introduction.
Context.
Relationship with Financial Accounting.
Overview.
Cost Minimisation and Revenue Maximisation.
Use of Computers.
Conclusion.
Selected Reading.
Discussion Questions.
3 Costing.
Introduction.
Importance of Cost Accounting.
Types of Cost.
Traditional Costing.
Activity-Based Costing.
Costing for Stock Valuation.
Different Costing Methods for Different Industries.
Target Costing.
Cost-Cutting.
Conclusion.
Discussion Questions.
Numerical Questions.
4 Planning, Control and Performance: Budgeting.
Introduction.
Management Accounting Control Systems.
Nature of Budgeting.
Cash Budget.
Other Budgets.
Manufacturing Budgets.
Comprehensive Budgeting Example.
Behavioural Aspects of Budgeting.
Responsibility Accounting.
Conclusion.
Discussion Questions.
Numerical Questions.
5 Planning, Control and Performance: Standard Costing.
Introduction.
Nature of Standard Costing.
Standard Cost Variances.
Interpretation of Variances.
Conclusion.
Discussion Questions.
Numerical Questions.
6 Short-Term Decision Making.
Introduction.
Decision Making.
Contribution Analysis.
Decisions, Decisions.
Throughput Accounting.
Break-Even Analysis.
Contribution Graph.
Conclusion.
Discussion Questions.
Numerical Questions.
7 Strategic Management Accounting.
Introduction.
Nature of Strategic Management Accounting.
Assessment of Current Position of the Business.
Appraisal of Current Position of the Business.
Strategic Choice of Future Direction.
Conclusion.
Selected Reading.
Discussion Questions.
Numerical Questions.
8 Long-Term Decision Making: Capital Investment Appraisal.
Introduction.
Nature of Capital Investment.
Capital Investment Appraisal Techniques.
Other Factors.
Conclusion.
Discussion Questions.
Numerical Questions.
Appendix 21.1 Present Value of £1 at Compound Interest Rate (1 + r).
9 The Management of Working Capital and Sources of Finance.
Introduction.
Nature of Sources of Finance.
Short-Term Financing.
Long-Term Financing.
Cost of Capital.
Conclusion.
Discussion Questions.
Numerical Questions.
Further Reading.
Glossary of Key Accounting Terms.
Appendix: Answers.
Index.
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.
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