By Arthur Hindmarch
Read Online or Download Accounting: An Introduction PDF
Similar introduction books
Wealthy Dad's advisor to making an investment is a consultant to realizing the true incomes strength of cash by means of studying the various making an investment secrets and techniques of the rich.
A bestselling writer and funding analyst deals confirmed recommendations for traders. Walden has written an easy, succinct, basic advisor to profitable inventory industry making an investment innovations. For this e-book, he has talked with a number of the most sensible funding pros on this planet together with mutual fund managers, analysts, economists, and stockbrokers.
This ebook has been designed as a result author’s instructing studies; scholars within the classes got here from a number of disciplines and it was once very tricky to prescribe an appropriate textbook, no longer simply because there are not any books on those themes, yet simply because they're both too exhaustive or very uncomplicated.
- A power primer : an introduction to the internal combustion engine: automobile, aircraft, diesel
- Tools of Total Quality: An introduction to statistical process control
- An Introduction to the Theory of Numbers, 5th Edition
- Introduction to biocatalysis using enzymes and micro-organisms
Extra resources for Accounting: An Introduction
The accounting concepts on which these statements are prepared were examined in Chapter 2, and this chapter examines some of the procedures for their preparation. I t has been emphasised that due to the accounting concepts used in the accounting framework not all economic events would be reflected in the balance sheet and profit statement. This in turn implies that the preparation of these statements will be based mainly on an analysis of historical data which reflects original costs and the benefits from past transactions.
It might seem that valuation of a company would be incomplete without the inclusion of all assets. Intangible assets such as good customer relations, a product of superior quality to its competitors, an efficient management team, may be what makes a particular company superior to its rivals. Such assets could be included in a valuation only where objective evidence of value can be shown. In most cases this is not possible because in the examples quoted, although these qualities may improve future performance, it is unlikely that they could be bought and sold as with physical assets, and thus there will be no specific original cost.
This makes it easier for those preparing and interpreting the information. It also limits the area of discretion open to the accountant or to the firm to present information in a biased manner. The strength of this last comment depends of course on the sanctions provided against not working within the framework. Perhaps the most important reason for Accounting concepts 19 having a conceptual framework is that it is more likely to establish confidence in accounting information. This is very necessary when it is remembered that the various users of the information both internal and external are expected to use it as the basis, for example, for investment decisions, calculating taxation, or evaluating management performance or as a guide to government policy.