Financial Accounting: Concepts and Applications

This book takes a contemporary business school approach to the subject of accounting. Non-commerce students, in particular, have found this framework to be helpful as they engage with the subject. It begins by introducing assets, liabilities, and the concept of a balancesheet. This foundation then helps explain debits and credits, and how to prepare a trial balance. It also covers key applied concepts such as ratio analysis and cash flow statements in a straightforward manner. Feedback from B-School recruiters has indicated that, in practice, these two facets of Accounting are among the most widely used applications from the standpoint of business graduates entering the job market. Both ratio analysis and cash flow statement preparation are applications of accounting-related information. The role of various stakeholders in a business is examined, illustrating how they process accounting information to generate value-added information. A lively, conversational style is used, with an emphasis on practical learning rather than theory. Mini-caselets are woven throughout to make the concepts easy to grasp. Accounting information is widely used by finance managers, and key areas such as cost-volume-profit analysis, annual budgeting, and issues pertaining to working capital management are examined. This book will serve as a reliable resource for students learning accounting at the undergraduate or graduate level. It will also benefit executive education participants who need a sound foundation in accounting and finance.

Interested readers may write to us at mup@manipal.edu about purchasing the book.