Financial Accounting for Managers

Cover
Table of Contents
Preface
Acknowledgements
About the
Author
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
2 Generally Accepted 
Accounting Principlesand Accounting Standards
	2.1 Nature of Generally Accepted Accounting Principles
	2.2 Need for Accounting Standards
	2.3 Globalization of Accounting Standards
3
Accounting Cycle
	3.1 Accounting Process
	3.2 Journal Entry
	3.3 Classification
	3.4 Summarization
	3.5 Financial Statements
4 Statement of Profit & Loss
	4.1 GAAP Revisited
	4.2 Format of statement of Profit and Loss
	4.3 Various Measures of Profit
	4.4 Appropriation of Profit
	4.5 Abnormal Items
	4.6 Earnings per Share
	4.7 Key Differences between Existing AS and Converged Ind AS
5 Balance Sheet
	5.1 GAAP revisited
	5.2 Format of Balance Sheet
	5.3 Shareholders’ Funds
	5.4 Government Grants
	5.5 Liabilities
	5.6 Assets
	5.7 Contingent Liabilities and Commitments
	5.8 Key Differences between Existing AS and Converged Ind AS
6 Accounting For Revenue And Account Receivables
	6.1 Revenue
	6.2 Timing of Revenue Recognition
	6.3 Key Differences between Existing AS and Converged Ind AS
7 Accounting And Valuation of Inventory
	7.1 Meaning of Inventory
	7.2 Inventories and the Financial Statements
	7.3 Key Differences between Existing AS and Converged Ind AS
8 Accounting For Fixed Assets And Depreciation
	8.1 Operating Expenses versus Capital Expenses
	8.2 Key Differences between Existing AS and Converged Ind AS
9 Cash Flow Statement
	9.1 Need for Cash Flow Statement
	9.2 What is Cash?
	9.3 Cash Flow Statement
	9.4 Cash Flow from Operating Activities
	9.5 Cash Flow from Investing Activities
	9.6 Cash Flows from Financing Activities
	9.7 Special Points
	9.8 Cash Flows at Different Stages of Life cycle
	9.9 Key differences between existing AS and converged Ind AS
10 Consolidated Financial Statements
	10.1 Scope of Consolidation
	10.2 Consolidated Financial Statements
	10.3 Key Differences between Existing AS and Converged Ind AS
11 Disclosures In Annual Reports
	11.1 Disclosures Under the Companies Act, 2013 333
	11.2 Disclosures under Listing Agreement
	11.3 Disclosures under Accounting Standards
	11.4 Voluntary Disclosures
	11.5 Key differences between existing AS and converged Ind AS
12 Analysis Of Financial Statements
	12.1 Common Size Statements
	12.2 Indexed Financial Statements
	12.3 Ratio Analysis
13 Financial Shenanigans
	13.1 Financial Shenanigans
	13.2 Motivations for Financial Shenanigans
	13.3 Opportunities for Financial Shenanigans
	13.4 Financial Shenanigans Techniques
	13.5 Regulatory Reactions
	13.6 How to Detect Financial Shenanigans?
	13.7 Prevention of Financial Shenanigans