Financial accounting for decision makers / created by Peter Atrill and Eddie McLaney.

Includes bibliographical references and index.

Front Cover
Half Title Page
Title Page
Copyright Page
Brief contents
Contents
Preface
How to use this book
Acknowledgements
1 Introduction to accounting
Introduction
Learning outcomes
What is accounting?
Who are the users of accounting information?
The conflicting interests of users
How useful is accounting information?
Providing a service
Weighing up the costs and benefits
Accounting as an information system
Management accounting and financial accounting
Scope of this book
The changing face of accounting Accounting for business
What is the purpose of a business?
What kinds of business ownership exist?
How are businesses organised?
The quest for wealth creation
Meeting the needs of other stakeholders
Balancing risk and return
Reasons to be ethical
Not-for-profit organisations
Summary
Key terms
References
Further reading
Critical review questions
2 Measuring and reporting financial position
Introduction
Learning outcomes
The major financial statements
an overview
The statement of financial position
The effect of trading transactions Classifying assets
Classifying claims
Statement layouts
Capturing a moment in time
The role of accounting conventions
Money measurement
Valuing assets
Meeting user needs
Self-assessment question
Summary
Key terms
Reference
Further reading
Critical review questions
Exercises
3 Measuring and reporting financial performance
Introduction
Learning outcomes
The income statement
Different roles
Income statement layout
Further issues
Recognising revenue
Recognising expenses
Profit, cash and accruals accounting
Depreciation Costing inventories
Trade receivables problems
Uses and usefulness of the income statement
Self-assessment question
Summary
Key terms
Further reading
Critical review questions
Exercises
4 Accounting for limited companies (1)
Introduction
Learning outcomes
The main features of limited companies
Legal safeguards
Public and private companies
Taxation
The role of the Stock Exchange
Capital market efficiency
Managing a company
Financing limited companies
Share capital
Reserves
Bonus shares
Share capital jargon
Borrowings Raising share capital
Withdrawing equity
The main financial statements
Dividends
Self-assessment question
Summary
Key terms
References
Further reading
Critical review questions
Exercises
5 Accounting for limited companies (2)
Introduction
Learning outcomes
The directors' duty to account
The need for accounting rules
Sources of accounting rules
Problems with standards
Accounting rules or accounting choice?
The need for a conceptual framework
The IASB framework
The auditors' role
The framework of annual financial reports

"This text provides a comprehensive introduction to financial accounting. It is aimed at students who are not majoring in accounting as well as those who are. Those studying introductory- level financial accounting as part of their course in business, economics, hospitality management, tourism, engineering, or some other area, should find that the text provides complete coverage of the material at the level required. Students who are majoring in accounting should find the text a useful introduction to the main principles, which can serve as a foundation for further study. The main focus of the text is on the ways in which financial statements and financial information can improve the quality of decision making. To ensure that readers understand the practical implications of the subject, there are, throughout the text, numerous illustrative extracts using commentary from company reports, survey data and other sources. Although some technical issues are dealt with in the text, the main emphasis throughout is on basic principles and underlying concepts. In this tenth edition, we have taken the opportunity to make improvements, including those suggested by students and lecturers who used the previous edition. We have rewritten some material to make it more understandable to readers, and have also increased the number of diagrams. The number of examples from real life have been expanded, as have the number of activities. We have also incorporated developments to International Financial Reporting Standards. Recent developments in auditing are discussed and explained. The text is written in an 'open-learning' style. This means that there are numerous integrated activities, worked examples and questions throughout the text to help you to understand the subject fully. In framing these questions and tasks, we have tried to encourage critical thinking by requiring analysis and evaluation of various concepts and techniques. You are encouraged to interact with the material and to check your progress continually. Irrespective of whether you are using the text as part of a taught course or for personal study, we have found that this approach is more 'user-friendly' and makes it easier for you to learn. We recognise that most of you will not have studied financial accounting before and, therefore, we have tried to write in a concise and accessible style, minimising the use of technical jargon. We have also tried to introduce topics gradually, explaining everything as we go. Where technical terminology is unavoidable we try to provide clear explanations. You will find all of the key terms highlighted in the text, and then listed at the end of each chapter with a page reference. All of these key terms are also listed alphabetically, with a concise definition, in the glossary given in Appendix B. This should provide a convenient point of reference from which to revise. A further important consideration in helping you to understand and absorb the topics covered is the design of the text itself. The page layout and colour scheme have been carefully considered to allow for the easy navigation and digestion of material. The layout features a large page format, an open design, and clear signposting of the various features and assessment material. We hope that you will find the text both readable and helpful"--