The Power of Accounting: What the Numbers Mean and How to Use Them
Managers routinely make decisions on the basis of accounting information. Furthermore, their performance is very likely to be evaluated on the basis of accounting information. (Did they meet their budget? Are overhead costs under control? What was the return on investment?) Understanding what accounting numbers mean, what they don’t mean and how they can be used is oftentimes vital to one’s success.
The Power of Accounting: What the Numbers Mean and How to Use Them explores the role of accounting in business and other organizations. It is not a book on how to ‘do’ accounting. Rather it is about understanding and using the information that accounting systems provide and which you as a manager need in order to be successful.
The book is highly readable and avoids technical language whenever possible. It provides an overview of the accounting process, discusses different concepts of costs and cost-volume-profit analysis, decision- making, planning and control. It also discusses and explores issues involving THE accounting problem – allocation and its very arbitrary nature. The book’s final chapter covers financial statement analysis, that is, how to read and understand the information financial statements provide.
It is written for managers and students with a limited knowledge of accounting who would like to understand how accounting information can be used to prepare budgets, control costs, make informed decisions and direct ongoing operations. In addition to being a clear and concise stand-alone text, The Power of Accounting can also be used in an executive training course or as a supplementary text in university management, operations and policy courses where students need to have an understanding of accounting information.
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What the Numbers Mean and How to Use Them
The Power of Accounting: What the Numbers Mean and How to Use Them provides a highly readable text for non-financial managers. It explores accounting’s uses and limitations in the management process. The text is intended for users of accounting information as opposed to preparers. It focuses on...
Published January 20th 2012 by Routledge