Financial Accounting for Decision Makers
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| 12 Governing a company
443 Introduction 443 Learning outcomes 444 Corporate governance 444 The board of directors 445 The UK Corporate Governance Code 446 Tasks of the board 449 Chairing the board 451 The role of non-executive directors 454 The audit process 458 Remunerating directors 469 Performance measures 475 Assessing board performance 479 The rise of shareholder activism 481 Self-assessment question 489 Summary 490 Key terms 492 References 492 A01 Atrill's Financial Accounting For Decis 51257.indd 12 19/03/2019 06:55 CONTENTS xiii Further reading 493 Critical review questions 493 Exercises 494 Appendix A Recording financial transactions 495 Introduction 495 Learning outcomes 495 The basics of double-entry bookkeeping 495 Recording trading transactions 498 Balancing accounts and the trial balance 501 Preparing the financial statements (final accounts) 505 The ledger and its division 509 Summary 509 Key terms 510 Further reading 510 Exercises 511 Appendix B Glossary of key terms 514 Appendix C Solutions to self-assessment questions 525 Appendix D Solutions to critical review questions 536 Appendix E Solutions to selected exercises 545 Index 580 A01 Atrill's Financial Accounting For Decis 51257.indd 13 19/03/2019 06:55 A01 Atrill's Financial Accounting For Decis 51257.indd 14 19/03/2019 06:55 PREFACE xv This text provides a comprehensive introduction to financial accounting. It is aimed at students who are not majoring in accounting as well as those who are. Those studying introductory-level financial accounting as part of their course in business, economics, hospitality management, tourism, engineering, or some other area, should find that the text provides complete coverage of the material at the level required. Students who are majoring in accounting should find the text a useful introduction to the main principles, which can serve as a foundation for further study. The main focus of the text is on the ways in which financial statements and financial informa- tion can improve the quality of decision making. To ensure that readers understand the practi- cal implications of the subject, there are, throughout the text, numerous illustrative extracts using commentary from company reports, survey data and other sources. Although some technical issues are dealt with in the text, the main emphasis throughout is on basic principles and underlying concepts. In this ninth edition, we have taken the opportunity to make improvements, including those suggested by students and lecturers who used the previous edition. We have rewritten some material to make it more understandable to readers. We have updated and expanded the number of examples from real life. We have also incorporated developments to International Financial Reporting Standards, including the recently-published version of the Conceptual Framework for Financial Reporting. Recent developments in the area of corporate gover- nance are discussed and explained. Finally, the discussion of the role of the auditor has been expanded. The text is written in an ‘open-learning’ style. This means that there are numerous integrated activities, worked examples and questions throughout the text to help you to understand the subject fully. In framing these questions and tasks, we have tried to encourage critical thinking by requiring analysis and evaluation of various concepts and techniques. You are encouraged to interact with the material and to check your progress continually. Irrespective of whether you are using the text as part of a taught course or for personal study, we have found that this approach is more ‘user-friendly’ and makes it easier for you to learn. Preface A01 Atrill's Financial Accounting For Decis 51257.indd 15 19/03/2019 06:55 xvi PREFACE We recognise that most of you will not have studied financial accounting before and, there- fore, we have tried to write in a concise and accessible style, minimising the use of technical jargon. We have also tried to introduce topics gradually, explaining everything as we go. Where technical terminology is unavoidable we try to provide clear explanations. You will find all of the key terms highlighted in the text, and then listed at the end of each chapter with a page reference. All of these key terms are also listed alphabetically, with a concise definition, in the glossary given in Appendix B. This should provide a convenient point of reference from which to revise. A further important consideration in helping you to understand and absorb the topics cov- ered is the design of the text itself. The page layout and colour scheme have been carefully considered to allow for the easy navigation and digestion of material. The layout features a large page format, an open design, and clear signposting of the various features and assess- ment material. We hope that you will find the text both readable and helpful. Peter Atrill Eddie McLaney A01 Atrill's Financial Accounting For Decis 51257.indd 16 19/03/2019 06:55 HOW TO USE THIS BOOK xvii How to use this book We have organised the chapters to reflect what we consider to be a logical sequence and, for this reason, we suggest that you work through the text in the order in which it is presented. We have tried to ensure that earlier chapters do not refer to concepts or terms that are not explained until a later chapter. If you work through the chapters in the ‘wrong’ order, you will probably encounter concepts and terms that were explained previously. Irrespective of whether you are using the book as part of a lecture/tutorial-based course or as the basis for a more independent mode of study, we advocate following broadly the same approach. Yüklə 6,24 Mb. Dostları ilə paylaş:
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