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• Cover
• Title page
• Preface to the Fifth Edition
• About the Author
• Acknowledgements
• PART I Context of Accounting
• 1 Introduction to Accounting
• Accounting, accountability, and the account
• A short history of accounting
• Introducing the functions of accounting
• The role of financial accounting
• The role of management accounting
• Recent developments in accounting
• The relationship between financial accounting and management accounting 12
• A critical perspective
• Conclusion
• References
• Questions
• 2 Accounting and its Relationship to Shareholder Value and Corporate Governance
• Capital and product markets
• Shareholder value-based management
• Shareholder value, strategy, and accounting
• Company regulation and corporate governance
• Risk management, internal control, and accounting
• A critical perspective
• Conclusion
• References
• Questions
• 3 Recording Financial Transactions and the Principles of Accounting
• Business events, transactions, and the accounting system
• The double entry: recording transactions
• Extracting financial information from the accounting system
• Basic principles of accounting
• Cost terms and concepts: the limitations of financial accounting
• Conclusion
• References
• Questions
• 4 Management Control, Accounting, and its Rational-Economic Assumptions
• Management control systems
• Planning and control in organizations
• Non-financial performance measurement
• A theoretical framework for accounting
• Conclusion
• References
• Websites
• Questions
• 5 Interpretive and Critical Perspectives on Accounting and Decision Making
• Research and theory in management control and accounting
• Alternative paradigms
• The interpretive paradigm and the social construction perspective
• Culture, control, and accounting
• The radical paradigm and critical accounting
• Power and accounting
• Creative accounting, ethics, and accounting
• Conclusion
• References
• Questions
• PART II The Use of Financial Statements for Decision Making
• 6 Constructing Financial Statements: IFRS and the Framework of Accounting
• International Financial Reporting Standards (IFRS)
• Framework for the Preparation and Presentation of Financial Statements
• True and fair view
• Reporting profitability: the Income Statement and Statement of Comprehensive Income
• Reporting financial position: the Balance Sheet or Statement of Financial Position
• The matching principle and accruals accounting
• Depreciation
• Specific IFRS accounting treatments
• Reporting cash flow: the Statement of Cash Flows
• Differences between the financial statements
• A theoretical perspective on financial statements
• A critical perspective on financial statements and accounting standards
• Conclusion
• Reference
• Websites
• Appendix to Chapter 6: List of IFRS and FRS
• Questions
• 7 Interpreting Financial Statements
• Annual Reports
• The context of financial statements
• Ratio analysis
• Profitability
• Liquidity
• Gearing
• Activity/efficiency
• Working capital
• Managing receivables
• Managing inventory
• Managing payables
• Managing working capital
• Shareholder return
• The relationship between financial ratios
• Interpreting financial statements using ratios
• Using the Statement of Cash Flows
• Limitations of ratio analysis
• A wider view on corporate reporting
• Intellectual capital
• Institutional theory
• Corporate social and environmental responsibility
• Applying different perspectives to financial statements
• Conclusion
• References
• Questions
• 8 Accounting for Inventory
• Introduction to inventory
• Methods of costing inventory in manufacturing
• Management accounting statements
• Conclusion
• Questions
• PART III Using Accounting Information for Decision Making, Planning, and Control
• 9 Accounting and Information Systems
• Introduction to accounting and information systems
• Methods of data collection
• Big data
• Types of information system
• Business processes
• Information systems design and controls
• Conclusion
• References
• Questions
• 10 Marketing Decisions
• Marketing strategy
• Cost behaviour
• Cost–volume–profit analysis
• Alternative approaches to pricing
• Segmental profitability
• Customer profitability analysis
• Conclusion
• References
• Questions
• 11 Operating Decisions
• The operations function
• Managing operations – manufacturing
• Managing operations – services
• Accounting for the cost of spare capacity
• Capacity utilization and product mix
• Theory of Constraints
• Operating decisions: relevant costs
• Supply chain management, total cost of ownership, and supplier cost analysis
• The cost of quality
• Environmental cost management
• Conclusion
• References
• Questions
• 12 Human Resource Decisions
• Human resources and accounting
• The cost of labour
• Relevant cost of labour
• Conclusion
• References
• Questions
• 13 Overhead Allocation Decisions
• Cost classification
• The overhead allocation problem
• Shifts in management accounting thinking
• Alternative methods of overhead allocation
• Differences between absorption and activity-based costing
• Contingency theory
• International comparisons
• Behavioural implications of management accounting
• Conclusion
• References
• Questions
• 14 Strategic Investment Decisions
• Strategy
• Capital expenditure evaluation
• Accounting rate of return
• Payback
• Discounted cash flow
• Comparison of techniques
• Conclusion
• References
• Appendix to Chapter 14: Present value factors
• Questions
• 15 Performance Evaluation of Business Units
• Structure of business organizations
• The decentralized organization and divisional performance measurement
• Controllability
• Comparison of methods
• Transfer pricing
• Transaction cost economics
• Conclusion: a critical perspective
• References
• Questions
• 16 Budgeting
• What is budgeting?
• The budgeting process
• The profit budget
• Cash forecasting
• A behavioural perspective on budgeting
• A critical perspective: beyond budgeting?
• Conclusion
• References
• Questions
• 17 Budgetary Control
• What is budgetary control?
• Variance analysis
• Flexible budgets and sales variances
• Flexible budgets and cost variances
• Interpreting variances
• Criticism of variance analysis
• Applying different perspectives to management accounting
• Conclusion
• References
• Questions
• 18 Strategic Management Accounting
• Trends in management accounting
• Strategic management accounting
• Accounting techniques to support strategic management accounting
• Lean production, lean accounting, and backflush costing
• Conclusion
• References
• Further reading
• Questions
• PART IV Supporting Information
• Readings
• Reading 1 Cooper and Kaplan (1988). How cost accounting distorts product costs
• Reading 2 Dent (1991). Accounting and organizational cultures: a field study of the emergence of a new organizational reality
• Glossary of Accounting Terms
• Solutions to Questions
• Index
• End user license Agreement