By Graham Mott
This absolutely revised and up-to-date version of the best-selling handbook presents the right advent to the fundamentals of accounting and company finance. It takes the reader via accounting and monetary thoughts, innovations and phrases in an easy-to-follow, approachable type. brand new with the most recent adjustments in taxation legislations, it introduces strategies in a manner meant to help non-financial scholars in addition to managers from enterprises of all sizes. The publication is equipped into 3 major sections: Annual debts, administration accounting and monetary administration. through the publication there are feedback for additional analyzing and inquiries to attempt the reader's knowing of every bankruptcy. "Accounting for Non-Accountants" is already known as an introductory textual content for enterprise and administration scholars on various classes, and it continues to be crucial analyzing for someone wishing to actually comprehend accounting ideas and perform.
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Additional info for Accounting for Non-accountants: A Manual for Managers and Students
Other European countries have similar broad structures, but these may differ in the detailed analysis. For example, Belgium, France and Spain use the same seven broad classes: Class 1 Class 2 Class 3 Class 4 Class 5 Class 6 Class 7 Equity, provisions and long-term loans. Fixed assets. Stocks, work-in-progress and long-term contracts. Debtors and creditors. Investments and cash. Purchases and expenses. Revenues. Each of these classes is broken down into more detail by a further digit for each sub-class.
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 33 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.
Investments and cash. Purchases and expenses. Revenues. Each of these classes is broken down into more detail by a further digit for each sub-class. For example, Class 3 in Belgium accords 30 to raw materials stocks, 32 to work-in-progress, etc, but these code numbers do not necessarily have the same meaning in the other two countries. These European charts tend to have statutory backing and are geared up to producing financial accounting statements in the stipulated form. These differ from the UK also in that we analyse costs objectively by function (eg distribution costs, administrative costs, etc) whilst they analyse costs subjectively by source (eg wages, salaries, materials, depreciation, etc).
Accounting for Non-accountants: A Manual for Managers and Students by Graham Mott