Financial Accounting For Managers

Cover
Title
Copyright
Contents
Preface
Acknowledgements
About the Author
Chapter 1 Introduction to Accounting
	1.1 WHAT IS ACCOUNTING?
	1.2 USERS OF FINANCIAL ACCOUNTING INFORMATION
	1.3 FINANCIAL ACCOUNTING VERSUS  MANAGEMENT ACCOUNTING
	1.4 NEED FOR ACCOUNTING PRINCIPLES—GAAP AND ACCOUNTING STANDARDS
	1.5 ACCOUNTING CYCLE
	1.6 FINANCIAL STATEMENTS
	1.7 ACCOUNTING ENVIRONMENT
Chapter 2 Generally Accepted Accounting Principles  and Accounting Standards
	2.1 NATURE OF GENERALLY ACCEPTED ACCOUNTING PRINCIPLES
	2.2 NEED FOR ACCOUNTING STANDARDS
	2.3 ACCOUNTING STANDARDS IN INDIA2
	2.4 GLOBALIZATION OF ACCOUNTING STANDARDS
Chapter 3 Accounting Cycle
	3.1 INTRODUCTION
	3.2 ACCOUNTING PROCESS
	3.3 JOURNAL ENTRY
	3.4 CLASSIFICATION
	3.5 SUMMARIZATION
	3.6 ADJUSTMENT ENTRIES
	3.7 FINANCIAL STATEMENTS
Chapter 4 Financial Statements  of Companies
	4.1 INTRODUCTION
	4.2 FINANCIAL STATEMENTS
	4.3 STATEMENT OF PROFIT AND LOSS
	4.4 BALANCE SHEET
	4.5 STATEMENT OF CHANGE IN EQUITY
	4.6 CASH FLOW STATEMENT
	4.7 NOTES TO ACCOUNTS
Chapter 5 Statement of Profit and Loss
	5.1 INTRODUCTION
	5.2 FORMAT OF STATEMENT OF PROFIT AND LOSS
	5.3 REVENUE
	5.4 EXPENSES
	5.5 EXCEPTIONAL ITEMS
	5.6 TAX EXPENSES
	5.7 PROFIT/LOSS FROM DISCONTINUED OPERATIONS
	5.8 PROFIT/LOSS FOR THE PERIOD
	5.9 OTHER COMPREHENSIVE INCOME (OCI)
	5.10 EARNINGS PER SHARE
	5.11 VARIOUS MEASURES OF PROFIT
	5.12 APPROPRIATION OF PROFIT
Chapter 6 Balance Sheet
	6.1 INTRODUCTION
	6.2 FORMAT OF BALANCE SHEET
	6.3 ASSETS
	6.4 NON-CURRENT ASSETS
	6.5 CURRENT ASSETS
	6.6 CURRENT TAX ASSETS (NET)
	6.7 OTHER CURRENT ASSETS
	6.8 EQUITY AND LIABILITIES
	6.9 EQUITY
	6.10 STATEMENT OF CHANGE IN EQUITY
	6.11 LIABILITIES
	6.12 NON-CURRENT LIABILITIES
	6.13 CURRENT LIABILITIES
	6.14 CONTINGENT LIABILITIES AND COMMITMENTS
Chapter 7 Accounting for Revenue
	7.1 REVENUE
	7.2 QUANTUM OF REVENUE
	7.3 TIMING OF REVENUE RECOGNITION
	7.4 IMPACT OF UNCERTAINTY
	7.5 DISCLOSURES
	7.6 ACCOUNTING FOR RECEIVABLES
Chapter 8 Accounting and Valuation of Inventory
	8.1 MEANING OF INVENTORY
	8.2 INVENTORIES AND THE FINANCIAL STATEMENTS
	8.3 METHODS OF INVENTORY ACCOUNTING
	8.4 VALUATION OF INVENTORY
	8.5 COSTING METHODS
	8.6 DISCLOSURES
Chapter 9 Accounting for Fixed Assets and Depreciation
	9.1 INTRODUCTION
	9.2 PROPERTY, PLANT AND EQUIPMENT
	9.3 INVESTMENT PROPERTY
	9.4 INTANGIBLE ASSETS
	9.5 IMPAIRMENT OF ASSET
Chapter 10 Accounting for Investments
	10.1 INTRODUCTION
	10.2 CLASSIFICATION OF INVESTMENTS
	10.3 MEASUREMENT
	10.4  INVESTMENT IN SUBSIDIARIES, ASSOCIATES AND  JOINT VENTURE
Chapter 11 Cash Flow Statement
	11.1 INTRODUCTION
	11.2 CASH FLOW STATEMENT
	11.3 CASH FLOW FROM OPERATING ACTIVITIES
	11.4 CASH FLOW FROM INVESTING ACTIVITIES
	11.5 CASH FLOWS FROM FINANCING ACTIVITIES
	11.6 SPECIAL POINTS
	11.7 CASH FLOWS AT DIFFERENT STAGES OF LIFE CYCLE
Chapter 12 Consolidated Financial Statements
	12.1 INTRODUCTION
	12.2 CONCEPT OF CONTROL
	12.3 CONSOLIDATED FINANCIAL STATEMENTS
	12.4 CONSOLIDATED STATEMENT OF PROFIT AND LOSS
	12.5 CONSOLIDATED BALANCE SHEET
	12.6 INVESTMENTS IN ASSOCIATES AND JOINT VENTURES
Chapter 13 Disclosures in Annual Reports
	13.1 INTRODUCTION
	13.2 DISCLOSURES UNDER THE COMPANIES ACT, 2013
	13.3 DISCLOSURES UNDER LISTING AGREEMENT
	13.4 DISCLOSURES UNDER ACCOUNTING STANDARDS
	13.5 VOLUNTARY DISCLOSURES
Chapter 14 Analysis of Financial Statements
	14.1 INTRODUCTION
	14.2 COMMON SIZE STATEMENTS
	14.3 INDEXED FINANCIAL STATEMENTS
	14.4 RATIO ANALYSIS
	14.5 RATIOS TO PREDICT FINANCIAL INSOLVENCY
Chapter 15 Financial Shenanigans
	15.1 INTRODUCTION
	15.2 FINANCIAL SHENANIGANS
	15.3 MOTIVATIONS FOR FINANCIAL SHENANIGANS
	15.4 OPPORTUNITIES FOR FINANCIAL SHENANIGANS
	15.5 FINANCIAL SHENANIGANS TECHNIQUES
	15.6 REGULATORY REACTIONS
	15.7 HOW TO DETECT FINANCIAL SHENANIGANS?
	15.8 PREVENTION OF FINANCIAL SHENANIGANS