By Graham Mott
This up to date version of the best-selling guide ''Accounting for Non-Accountants'' offers the suitable advent to the fundamentals of accounting and company finance. It takes you thru accounting and monetary strategies and phrases in an easy-to-follow type. absolutely revised to incorporate info at the most recent accounting criteria and alterations in taxation legislations, it introduces suggestions in a fashion meant to help non-financial scholars, in addition to managers from enterprises of all sizes. it truly is divided into 3 major sections: annual debts, administration accounting and monetary administration, and comprises examples and inquiries to try out your knowing. ''Accounting for Non-Accountants'' is already conventional as an introductory textual content for company and administration scholars on quite a few classes, and it is still crucial analyzing for someone wishing to actually comprehend accounting rules and perform.
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Additional info for Accounting for Non-Accountants: A Manual for Managers and Students
This is because a fixed percentage is applied to the falling value each year. On this basis we never get an asset value down to zero until it is scrapped. 2. If the remaining value varies on the two methods, so must the yearly depreciation charge. Let us apply the two methods to an example, now bringing in a residual value of the asset at the end of its life. 2 Asset values under different depreciation methods 34 The annual accounts Example A machine costs £11,000 and has an estimated value of £1,000 at the end of its five-year life.
Descriptions of headings We now examine exactly what is contained under each of the headings in turn, running through all of the items. 1 Summarized cash flow statement 1. Operating activities shows cash generated or paid out from transactions relating to trading activities with customers, and includes operating profit, depreciation and changes in stocks, debtors and creditors during the period. A prime source of cash for any company should be the sale of goods and services for more than their cost, thus leading to a cash inflow from profit.
What are the two main groups of assets called? 3. What are the main two sources of long-term capital for a company? 4. Why is the goodwill of a company, built up over many years, not shown as an asset in its balance sheet? 5. Distinguish between operating leases and finance leases. 6. Name the three main types of stocks. 7. Why will there be a difference between the total value of customers’ invoices outstanding and the amount shown as debtors in a company’s balance sheet? 8. Differentiate between ordinary shares and preference shares.