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Accounting for Managers Part 4

Part II Using Accounting Information for Decision-Making, Planning and Control. Part II shows the reader how accounting information is used in decision-making, planning and control. The accounting tools and techniques are explained and illustrated by straightforward examples. | Part II Using Accounting Information for Decision-Making Planning and Control Part II shows the reader how accounting information is used in decision-making planning and control. The accounting tools and techniques are explained and illustrated by straightforward examples. Case studies drawn mainly from real business examples help draw out the concepts. Theory is integrated with the tools and techniques and the use of quotations from the original sources should encourage readers to access the accounting academic literature that they may find of interest. Chapter 7 helps the reader to interpret the main financial statements. Chapters 8 9 and 10 consider the accounting techniques that are of value in marketing operations and human resource decisions respectively. Chapters 8 9 and 10 do not take an approach to accounting that is common to other books. These chapters provide a practitioner- rather than an accounting-centred approach demonstrating techniques that do not require any prior management accounting knowledge. The more traditional accounting focus is left to Chapter 11 by which time the reader should have little difficulty in understanding the more complex concepts. Chapter 12 focuses on strategic decisions such as capital investment and Chapter 13 on divisional performance measurement. Chapter 14 covers the subject of budgeting and Chapter 15 discusses budgetary control. 7 Interpreting Financial Statements and Alternative Theoretical Perspectives This chapter introduces the content of a company s Annual Report and shows how ratio analysis can be used to interpret financial statements. This interpretation covers profitability liquidity cash flow gearing borrowings activity efficiency and shareholder return. A case study demonstrates how the use of ratios can look behind the numbers contained in an Annual Report. The chapter concludes with several alternative theoretical frameworks on financial reporting. Interpreting financial statements Financial statements .