By Rama Gopal, CA. C
Scholars from diversified backgrounds like Engineering, Pharmacy, Arts and organic Sciences subscribe to a multidisciplinary path like MBA. Many such scholars haven't any prior publicity to fundamentals of Accounting and hesitate to learn the initial books in studying the basics. current syllabus of many universities presupposes that the scholars, already, understand the basics of accounting and begins with the education of economic statements. so much scholars preserve suffering from accounting, hoping to move in some way. Many scholars percentage their perspectives, even after passing, as their techniques aren't transparent, and fear for the subsequent semester, as they're to stand the complex topic ``Financial Management`` within the subsequent semester.
This booklet begins with basics. Emphasis is to transparent innovations in basic language. the purpose can be to fulfill the aspirations of non-commerce scholars to boot to people who couldn't examine in English medium, previous. This ebook will gain the weakest of the vulnerable and may even be a excitement for all scholars, who additionally desire to arrange for the interviews, as `Interviews questions about Finance` is a tailpiece on the finish of every chapter.
Unique gains of this Book
Starting from Fundamentals.
Targeted for Non-Commerce scholars and Graduates in Engineering, Arts, arithmetic, Pharmacy and Sciences.
Interview questions about Finance.
Single Book-Suggested solutions and Textbook-Covering overall UGC Syllabus.
Added gains as in step with New development of Exams-True or fake, choose up correct selection.
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Additional resources for Accounting for Managers
There are different methods for providing depreciation, which is treated as expenditure in arriving at the profits of the company. Accounting for Managers 14 Different methods of treatment give different amounts of profit, even if the other factors are the same between two firms. If one firm adopts straight-line method while the other adopts written down method for providing depreciation, the operational results of both the firms would be different, even though other factors are same. Also, in spite of the various principles, there have been attempts in the past to show a false financial position.
7. Trade discount is allowed only on cash sales and not on credit sales. Accounting for Managers 20 8. Cash discount and trade discount are not allowed, simultaneously, in one transaction. 9. Total assets minus capital is equal to liabilities. 10. An increase in assets is necessarily due to profits. 11. ‘Drawings’ reduces capital. 12. Liabilities are decreased by losses and increased by profit. Answers 1. True 2. False 3. False 4. True 5. False 6. True 7. False 8. False 9. True 10. False 11. True 12.
Hence, every one tries to find out the cost and revenue during a particular accounting period and compare the financial results with preceding year to find out whether the business is progressing or going down. Unless the costs are associated Generally Accepted Accounting Principles 31 properly with the revenues of the corresponding period, misleading results would appear. It is necessary to match the revenues with the costs of that particular period to know the profit or loss during that period.
Accounting for Managers by Rama Gopal, CA. C