Accounting for Managers. Interpreting Accounting Information by Paul M. Collier

By Paul M. Collier

This revised and up to date 5th version of Accounting for Managers builds at the foreign good fortune of the former versions in explaining how accounting is utilized by non-financial managers.

Emphasizing the translation instead of the development of accounting details, Accounting for Managers encourages a severe, instead of an unthinking attractiveness of accounting techniques.  when immensely beneficial for making plans, decision-making and regulate, clients of accounting info have to realize the assumptions in the back of, and the constraints of specific accounting techniques.  As within the past versions, the publication hyperlinks idea with useful examples and case experiences drawn from genuine company events throughout a variety of production, retail and repair industries. 

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He concluded that accounting controls were installed by accountants as a result of their power base in global capital markets, which was achieved through their role in the allocation of the profit surplus to shareholders. Armstrong argued that mergers led to control problems that were tackled by American management consultants who tended to recommend the multidivisional form of organization . . [which] entirely divorce headquarters management from operations. Functional departments and their managers are subjected to a battery of financial indicators and budgetary controls .

Businesses produce products/services through a variety of organizational forms, but predominantly through either a functional structure or a divisionalized structure. 4. In the functional structure, accounting provides a staff function to the line functions, simplified here as marketing, operations and human resources. 4 Functional organization chart produces, reports and analyses accounting information on behalf of its (internal) customer departments. The functional structure may be suitable for smaller organizations with a narrow geographic spread and a limited product/service range, but it is not generally suitable for larger organizations.

Value-based management is more fully described in Chapter 2, but is in brief a concern with improving the value of the business to its shareholders. Management accounting is implicated in this, as a fundamental role of non-financial managers is to make decisions that contribute to increasing the value of the business. The limitations of accounting information, particularly as a lagging indicator of performance, have led to an increasing emphasis on non-financial performance measures, which are described more fully in Chapter 4.

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