Financial Accounting for Managers, 4th Edition

✍ Scribed by Sanjay Dhamija

• Publisher: Pearson India Education Services Pvt. Ltd
• Year: 2023
• Tongue: English
• Leaves: 532
• Edition: 4
• Category: Library

✦ Synopsis

velopments in the field of financial accounting. The text continues to address important concepts in corporate financial reporting practices, and the discussions in the book capture the dynamic nature of the concepts, principles, and methods of financial accounting.

Features –

Discussion about Ind AS115 (Accounting for Revenue from Contracts with Customers),
Conceptual Framework of Reporting and newly introduced disclosure requirements as per Schedule III of the Companies Act, 2013.
Developments in Indian a
Financial Accounting for Managers, 4e is an updated edition with revised content as per the latest developments in the field of financial accounting. The text continues to address important concepts in corporate financial reporting practices, and the discussions in the book capture the dynamic nature of the concepts, principles, and methods of financial accounting.

Features –

Discussion about Ind AS115 (Accounting for Revenue from Contracts with Customers),
Conceptual Framework of Reporting and newly introduced disclosure requirements as per Schedule III of the Companies Act, 2013.
Developments in Indian accounting standards with IFRS, accounting and reporting
Chapter on Financial Shenanigans for understanding financial gimmicks
Case studies based on information in the annual reports and real-life situations.
Unsolved problems for self-assessment and learning.
ccounting standards with IFRS, accounting and reporting
Chapter on Financial Shenanigans for understanding financial gimmicks
Case studies based on information in the annual reports and real-life situations.
Unsolved problems for self-assessment and learning.

✦ Table of Contents

Cover
About Pearson
Title Page
Dedication
Contents
Preface
Acknowledgement
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 PRINCIPLES AND ACCOUNTING STANDARDS
2.1 Nature of Generally Accepted Accounting Principles
2.2 Need for Accounting Standards
2.3 Accounting Standards in India
2.4 Globalization of Accounting Standards
2.5 Conceptual Framework of Financial Reporting
3 ACCOUNTING CYCLE
3.1 Introduction
3.2 Accounting Process
3.3 Journal Entry
3.4 Classification
3.5 Summarization
3.6 Adjustment Entries
3.7 Financial Statements
4 FINANCIAL STATEMENTS OF COMPANIES
4.1 Introduction
4.2 Financial Statements
4.3 Statement of Profit and Loss
4.4 Balance Sheet
4.5 Statement of Change in Equity
4.6 Cash Flow Statement
4.7 Notes to Accounts
5 STATEMENT OF PROFIT AND LOSS
5.1 Introduction
5.2 Format of Statement of Profit and Loss
5.3 Revenue
5.4 Expenses
5.5 Exceptional Items
5.6 Tax Expenses
5.7 Profit/Loss From Discontinued Operations
5.8 Profit/Loss for the Period
5.9 Other Comprehensive Income (OCI)
5.10 Earnings Per Share
5.11 Various Measures of Profit
5.12 Appropriation of Profit
6 BALANCE SHEET
6.1 Introduction
6.2 Format of Balance Sheet
6.3 Assets
6.4 Non-Current Assets
6.5 Current Assets
6.6 Current Tax Assets (NET)
6.7 Other Current Assets
6.8 Equity and Liabilities
6.9 Equity
6.10 Statement of Change in Equity
6.11 Liabilities
6.12 Non-Current Liabilities
6.13 Current Liabilities
6.14 Contingent Liabilities and Commitments
7 ACCOUNTING FOR REVENUE FROM CONTRACTS WITH CUSTOMERS
7.1 Revenue
7.2 Identify Contract with A Customer
7.3 Identify Performance Obligations
7.4 Determine the Transaction Price
7.5 Allocate Transaction Price to the Performance Obligations
7.6 Recognise Revenue when Performance Obligations Satisfied
7.7 Special Situations
7.8 Contract Assets and Contract Liabilities
8 ACCOUNTING AND VALUATION OF INVENTORY
8.1 Meaning of Inventory
8.2 Inventories and the Financial Statements
8.3 Methods of Inventory Accounting
8.4 Valuation of Inventory
8.5 Costing Methods
8.6 Disclosures
9 ACCOUNTING FOR FIXED ASSETS AND DEPRECIATION
9.1 Introduction
9.2 Property, Plant and Equipment
9.3 Investment Property
9.4 Intangible Assets
9.5 Impairment of Asset
10 ACCOUNTING FOR INVESTMENTS
10.1 Introduction
10.2 Classification of Investments
10.3 Measurement
10.4 Investment in Subsidiaries, Associates and Joint Venture
11 CASH FLOW STATEMENT
11.1 Introduction
11.2 Cash Flow Statement
11.3 Cash Flow from Operating Activities
11.4 Cash Flow from Investing Activities
11.5 Cash Flows from Financing Activities
11.6 Special Points
11.7 Cash Flows at Different Stages of Life cycle
12 CONSOLIDATED FINANCIAL STATEMENTS
12.1 Introduction
12.2 Concept of Control
12.3 Consolidated Financial Statements
12.4 Consolidated Statement of Profit and Loss
12.5 Consolidated Balance Sheet
12.6 Investments in Associates and Joint Ventures
13 DISCLOSURES IN ANNUAL REPORTS
13.1 Introduction
13.2 Disclosures under the Companies Act, 2013
13.3 Disclosures under Listing Agreement
13.4 Disclosures under Accounting Standards
13.5 Voluntary Disclosures
13.6 Integrated Reporting
13.7 Disclosures on Company’s Website
14 ANALYSIS OF FINANCIAL STATEMENTS
14.1 Introduction
14.2 Common Size Statements
14.3 Indexed Financial Statements
14.4 Ratio Analysis
14.5 Ratios to Predict Financial Insolvency
14.6 Mandatory Disclosure of Ratios
15 FINANCIAL SHENANIGANS
15.1 Introduction
15.2 Financial Shenanigans
15.3 Motivations for Financial Shenanigans
15.4 Opportunities for Financial Shenaniganss
15.5 Financial Shenanigans Techniques
15.6 Regulatory Reactions
15.7 How to Detect Financial Shenanigans?
15.8 Prevention of Financial Shenanigans
Index
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