© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 1.1 Introduction to accounting and finance.

Slides:



Advertisements
Similar presentations
Accounting and finance Introduction to accounting.
Advertisements

Chapter 1 Introduction to Management Accounting
Managerial Accounting Wild and Shaw Third Edition Wild and Shaw Third Edition McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All.
© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 10.1 Making capital investment decisions.
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 16.1 Chapter 16 Returns day books.
Managing Finance and Budgets Seminar 9. Follow-Up to Lecture Nine - Activities  Preparation: read Chapter 12  Describe key concepts: Budget definitions.
Introduction to Management Accounting Dr.Meenakshi.A.singh.
Essentials of Accounting Systems Finance for Non-Financial Entrepreneurs and Managers.
Understanding & Managing Finance Presentation 6 Cash Flow Statements.
INTRODUCTION TO ACCOUNTING INFORMATION SYSTEMS. Accounting — An Information Process Accounting — An Information Process Identification of Users.
Understanding & Managing Finance Seminar 1. Some Questions  What are accounts for?  Who are the key stakeholders in an organisation and what financial.
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 10.1 Chapter 10 Accounting concepts.
The Role of Accounting in Business Chapter 1
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 11.1 Chapter 11 Books of original.
Analysing and interpreting financial statements
BOOKKEEPINGBOOKKEEPING and ACCOUNTS. *** ????? !!!!!!!!
Chapter 2 The Control Process
Managing working capital
1 Financial Statements by Binam Ghimire. Learning Objectives 1.Understand various types of finance to raise 2.Deciding which assets to buy 3.Recognition.
Atrill, McLaney, Harvey, Jenner: Accounting 4e © 2008 Pearson Education Australia ACCOUNTING FOR MANAGEMENT DECISIONS WEEK 7 ANALYSIS AND INTERPRETATIION.
© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 8.1 Full costing OBJECTIVES You should be.
Prepared By Md. Masukujjaman Lecturer Northern University Bangladesh
© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 9.1 Budgeting OBJECTIVES You should be able.
Introduction to Management Accounting
INTERPRETING FINANCIAL STATEMENTS
© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 3.1 Measuring and reporting financial performance.
Chapter 11 FINANCING A BUSINESS.
MEASURING AND REPORTING FINANCIAL PERFORMANCE
Version: 2.0 © University of Tasmania All rights reserved. CRICOS Provider Code: 00586B Accounting & Financial Decision Making BFA103BFA103.
Chapter 8 The role of accouting Qiang Jiang School of Business Sichuan University, China
Prepared by: Jan Hájek Accounting Lecture no 1 WHAT IS ACCOUNTING System based on collecting and analyzing financial information System providing information.
Atrill, McLaney, Harvey, Jenner: Accounting 4e © 2008 Pearson Education Australia ACCOUNTING FOR MANAGEMENT DECISIONS WEEK 1 INTRODUCTION TO ACCOUNTING.
MEASURING AND REPORTING FINANCIAL POSITION
INTRODUCTION TO BOOK-KEEPING AND ACCOUNTANCY Samir K Mahajan.
Cost-volume-profit analysis
Slide 10.1 Atrill and McLaney, Accounting and Finance for Non-Specialists PowerPoints on the Web, 9 th edition © Pearson Education Limited 2015 Part Three.
Entrepreneurship and Small Business Management Introduction to Business Chapter 6.
Chapter 12 MANAGING WORKING CAPITAL.
1. The efficient management of finance is important to the success of an organisation. 2.
© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 2.1 Measuring and reporting financial position.
DEFINITION. The American Accounting Association defines Accounting as follows:
© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 4.1 Accounting for limited companies OBJECTIVES.
Revise Lecture 2 1. Revise Lecture The regulatory system 2.2. A conceptual framework 2.
1 Copyright © 2013 McGraw-Hill Ryerson Limited Learning Objectives LO4Explain the three categories of cash flow reported in the cash flow statement and.
© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 12.1 Financing a business OBJECTIVES You.
Session 3 Case studies and Solutions Nursery Management Understanding and Managing Finance.
Atrill, McLaney, Harvey, Jenner: Accounting 4e © 2008 Pearson Education Australia 1 Accounting for Management Decisions WEEK 6 MEASURING AND REPORTING.
2.4 Key Management Roles KEY CONCEPT
© The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin BASIC FINANCIAL STATEMENTS Chapter 2.
O BJECTIVES ( STATEMENT OF CASH FLOW ) : B USINESS A CTIVITIES AND C ASH F LOWS Classifying Cash Flows.
 Describes what your business:  will produce,  how you will produce it, and  who will buy your product or service.
The Accounting function Understand the accounting function within an organisation.
The Role of Accounting. © Hodder Education 2008 What is accounting? Accounting is about accountability. It is a process that involves recording, classifying.
Function of Financial Accounting. Financial Accounting Accounting can be defined as “the process of identifying, measuring and communicating economic.
MANAGING A SMALL BUSINESS Describe the characteristics of small-business owners. Identify key steps small-business owners follow to start their businesses.
Unit 3 Accounts & Finance Financial Accounts. Learning Objectives To be able to explain the purpose of accounts To evaluate the importance of final accounts.
P5: Advanced Performance Management. Section A: Strategic Planning and Control A1. Introduction to strategic management accounting A2. Performance management.
Peter Atrill, Financial Management for Decision Makers, 6 th Edition, © Pearson Education Limited 2012 Slide 3.1 Chapter 3 Analysing and interpreting financial.
1 THE ROLE OF ACCOUNTING IN BUSINESS Decision making and information Introduction to business and business enterprises The nature of accounting Accounting.
Sustainability Plan MMTK Project Unit developed by Karma Tshering and Ian Pringle for UNESCO.
7.1 Van Horne and Wachowicz, Fundamentals of Financial Management, 13th edition. © Pearson Education Limited Created by Gregory Kuhlemeyer. Chapter.
Financial Management Financial Planning
Chapter 1 Introduction to management accounting
Framework of Accounting
The Role of Accountants and Accounting Information
Unit 5 Management Accounting Aim The overall aim of this unit is to introduce the fundamentals of management accounting which apply to the wider business.
Use with Business Accounting and Finance
INTRODUCTION TO BOOK-KEEPING AND ACCOUNTANCY
Finance for Non-Financial Managers
Conceptual framework for financial reporting IASB.
Presentation transcript:

© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 1.1 Introduction to accounting and finance OBJECTIVES You should be able to: Identify the main users of financial information and discuss their needs Explain the nature and roles of accounting and finance Explain why an understanding of accounting and finance is likely to be relevant to your needs Distinguish between financial and management accounting

© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 1.2 Business organisation Competitors Lenders Managers Owners Customers Suppliers Investment analysts Community representatives Government Employees and their representatives Main users of financial information relating to a business organisation

© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 1.3 The characteristics that influence the usefulness of accounting information Characteristics that make financial information useful Understandability Comparability ReliabilityRelevance Limitation to the application of the qualitative characteristics Cost/Benefit Necessary for including information in the financial statements Materiality

© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 1.4 Information analysis Information identification Information reporting Information recording The accounting information system

© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 1.5 The planning and control process Step 1 Step 2 Step 3 Step 4 Step 5 Step 6 Step 7 Identify business objectives Consider options Prepare a long-term plan based on the most appropriate option(s) Prepare short-term plans (budgets) Perform and collect information on actual performance Respond to divergences between plans and actuals, and exercise control Revise plans (and budgets) if necessary

© Pearson Education Limited 2003 Atrill, McLaney: Accounting and Finance for Non-Specialists, 4th edition OHT 1.6 Financial and management accounting Nature of the reports produced Level of detail The existence of regulations Reporting interval Time horizon Range and quality of information The major differences concern: