Financial & Management Accounting: An Introduction

by Pauline Weetman

Overview

This revised and fully updated edition continues to provide students with a clear and well-structured introduction to financial and management accounting. The fourth edition retains all of the classic features that have contributed to the book’s success: clarity of expression, the focus on the accounting equation, student activities and real-life commentaries running through each chapter, and the inclusion of the Safe and Sure Annual Report as a real world example of a listed company.

New to the fourth edition:

• Fully in line with IFRS, but provides comparative analysis with UK GAAP where relevant.
• New case study material including extracts from annual reports for companies such as: The Body Shop, Sainsbury's, British Airports Authority, Matalan, Argos, Homebase, Burberry, Ottakers, Carphone Warehouse and BP.
• Experience-driven conversations between two managers appear at intervals throughout the text, providing a valuable insight into the type of interpretative comment which the reader may find more taxing. These discussions allow a more candid examination of issues and problems within the subject.
• Fully redesigned text to aid navigation and understanding for students, including a unique colour-coding system to make technical material more accessible.
• Activity-based costing, strategic management accounting, the balanced scorecard and benchmarking are included in the main management accounting chapters.
• The approach to teaching and learning focuses on subject-specific knowledge outcomes and generic skills outcomes, with end-of-chapter self-evaluation.
• Questions are graded to test student understanding of chapter content, as well as skills in straightforward application of knowledge, and skills of problem solving and evaluation.

Financial and Management Accounting: An Introduction is aimed at first-level undergraduates on business studies degrees taking introductory financial accounting and management accounting classes; first-level specialist accounting undergraduate students; introductory core accounting for MBA and postgraduate specialist Masters students (e.g. finance, actuarial studies), focusing on analysis through the accounting equation and a questioning approach to problem solving; and professional courses where accounting is introduced for the first time.

The book is accompanied by a comprehensive support package for lecturers, arranged on a chapter-by-chapter basis and comprising the following: student lecture notes on a ‘fill the gaps’ basis; matching powerpoint slides; graded questions to supplement those of chapters, including multiple-choice questions; and solutions to questions in the book.

The author

Pauline Weetman BA, BSc (Econ), PhD, CA, FRSE, is Professor of Accounting at the University of Strathclyde, and has extensive experience of teaching at undergraduate and postgraduate level, with previous chairs held at Stirling and Heriot-Watt Universities. She received the Distinguished Academic Award of the British Accounting Association in 2005. She has convened the examining board of the Institute of Chartered Accountants of Scotland and was formerly Director of Research at ICAS.

Product Details

ISBN-13:	9780273789215
Publisher:	Pearson Education
Publication date:	12/26/2013
Edition description:	6th ed.
Pages:	760
Product dimensions:	10.20(w) x 7.60(h) x 1.20(d)

Table of Contents

Part 1 A conceptual framework: setting the scene

Chapter 1 Who needs accounting?

Chapter 2 A systematic approach to financial reporting:
the accounting equation

Chapter 3 Financial statements from the accounting equation

Chapter 4 Ensuring the quality of financial statements

Part 2 Reporting the transactions of a business

Chapter 5 Accounting information for service businesses

Chapter 6 Accounting information for trading businesses

Part 3 Recognition in financial statements

Chapter 7 Published financial statements

Chapter 8 Non-current (fixed) assets

Chapter 9 Current assets

Chapter 10 Current liabilities

Chapter 11 Provisions and non-current (long-term) liabilities

Chapter 12 Ownership interest

Part 4 Analysis and Issues in reporting

Chapter 13 Ratio analysis

Chapter 14 Reporting corporate performance

Chapter 15 Reporting cash flows

Glossary of financial accounting terms

MANAGEMENT ACCOUNTING

Part 5 Setting the scene and defining the basic tools of management accounting

Chapter 16 Functions of management accounting

Chapter 17 Classification of costs

Chapter 18 Product costs: materials, labour and overheads

Part 6 Job costs and stock valuation

Chapter 19 Job costing

Part 7 Decision making

Chapter 20 Breakeven analysis and short-term decision making

Part 8 Planning and control

Chapter 21 Preparing a budget

Chapter 22 Standard costs

Chapter 23 Performance evaluation and feedback reporting

Part 9 Capital investment appraisal and business strategy

Chapter 24 Capital investment appraisal

Chapter 25 Business strategy and management accounting

Financial accounting defined

Management accounting defined

Appendices

I Information extracted from annual report of Safe and Sure plc, used throughout Financial Accounting

II Solutions to numerical and technical questions in Financial Accounting

III Solutions to numerical and technical questions in Management Accounting

Index