By Paul M. Collier

This revised and up-to-date 5th version of Accounting for Managers builds at the overseas good fortune of the former variants 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 popularity of accounting techniques.  when immensely useful for making plans, decision-making and keep an eye on, clients of accounting details have to realize the assumptions at the back of, and the restrictions of specific accounting techniques.  As within the earlier versions, the publication hyperlinks thought with useful examples and case stories drawn from actual company events throughout a variety of production, retail and repair industries. 

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P. 107) A critical stance can also be applied to the divisionalized form of organization. Roberts and Scapens (1985) argued that in a divisionalized company there is distance between the division and the head office, such that ‘the context within which accounting information is gathered will typically be quite different from the context in which it is interpreted’ (p. 452). This may result in manipulating the appearance of accounting reports. Roberts and Scapens concluded: The image of an organization which is given through Accounts will be from a particular point of view, at a particular point in time and will be selective in its focus.

In this way, the profit is the difference between the price at which the goods were sold (1 above) and the purchase cost of the same goods (2 above). Importantly, the purchase of goods into inventory does not affect profit until the goods are sold. To record transactions, we need to decide: ž ž what type of account is affected (asset, liability, income or expense); and whether the transaction increases or decreases that account. 1. The accounts are all contained within a ledger, which is simply a collection of all the different accounts for the business.

A critical perspective Although the concepts and assumptions underlying accounting are yet to be introduced, having begun this book with an introduction to accounting history it is worthwhile considering a contrasting viewpoint. While this viewpoint is one that may not be accepted by many practising managers, it is worth knowing, because it does lie at the very basis of the capitalist economic system in which we live, and in which accounting plays such an important role. The Marxist historian Hobsbawm (1962) argued that colonialism had been created by the cotton industry that dominated the UK economy, and this resulted in a shift from domestic production to factory production.

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Accounting for Managers. Interpreting Accounting Information for Decision-Making by Paul M. Collier


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