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Transcript of marketing managenment
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Financial Accounting:A Managerial Perspective
25 June 2011 PHI Learning Private Limited New Delhi 1
Fourth Edition
Prepared by
R. NarayanaswamyIndian Institute of Management Bangalore
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Chapter 1
25 June 2011 PHI Learning Private Limited New Delhi 2
Accounting and Economic Decisions
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Understanding Business Organizations
Merchandising organizations Manufacturing organizations
25 June 2011 PHI Learning Private Limited New Delhi 3
Business organizations as cash
dispensing machines
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What is Accounting
Accounting is the language ofbusiness
25 June 2011 PHI Learning Private Limited New Delhi 4
Why accounting in MBA?
The MBA Oath and financial
reportingAccounting information and
economic decisions
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Users of Accounting Information
Investors Lenders
Analysts
25 June 2011 PHI Learning Private Limited New Delhi 5
Managers Employees and trade unions
Suppliers and trade financiers
Customers Government and regulatory authorities
The public
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Financial Accountingand Management Accounting
Financial accounting Management accounting
25 June 2011 PHI Learning Private Limited New Delhi 6
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Accounting Measurement Assumptions
Reporting entity Going concern
25 June 2011 PHI Learning Private Limited New Delhi 7
Periodicity
Money measurement
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Generally Accepted Accounting
Principles and the AccountingEnvironment, continued
Institutions that influence IndianGAAP Ministry of Corporate Affairs
25 June 2011 PHI Learning Private Limited New Delhi 8
Securities and Exchange of India Institute of Chartered Accountants of India
Income Tax Department
Reserve Bank of India Insurance Regulatory and DevelopmentAuthority
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Generally Accepted Accounting
Principles and the AccountingEnvironment, continued
Institutions that influence IndianGAAP, continued Comptroller and Auditor-General of India
25 June 2011 PHI Learning Private Limited New Delhi 9
International Accounting StandardsBoard
International Federation of Accountants
International Organization of SecuritiesCommissions
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Generally Accepted Accounting
Principles and the AccountingEnvironment
Accounting standards and policies Accounting standards
Accounting standard-setting arrangements
25 June 2011 PHI Learning Private Limited New Delhi 10
Accounting po icies Converging IGAAP with IFRS
IGAAP
IFRS Ind AS
Principles or rules?
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Forms of Business Organization
Sole proprietorship Partnership
25 June 2011 PHI Learning Private Limited New Delhi 11
Listed
Public
Private
Limited liability partnership Legal formalities for a limited
company
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The Corporate Organization
Shareholders Board of directors
25 June 2011 PHI Learning Private Limited New Delhi 12
Independent directors
Chief executive officer
Chief financial officer Controller
Treasurer
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Accounting, Capital Market andCorporate Governance
Raising capital The lemons principle and the problem
of adverse selection
25 June 2011 PHI Learning Private Limited New Delhi 13
Signalling quality Moral hazard
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The Accounting Equation
Economic resources = ClaimsAssets = Liabilities + Equity
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Liabilities: owe
Equity: residual interest
Analyzing the effect of transactions
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Financial Statements
Profit and loss account Statement of retained earnings
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Cash flow statement
Interrelationship among the financial
statements
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Fields of Accounting Activity
Public accounting Auditing
Forensic accounting
Tax services
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anagemen a v sory serv ces
Bankruptcy
Small business services
Private accounting Management accounting
Internal auditing
Information systems
Government accounting
Not-for-profit accounting
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Accounting as an Academic Discipline
Academic research areas inaccounting: e.g.Accounting and stock prices
25 June 2011 PHI Learning Private Limited New Delhi 17
Benefits of disclosure Usefulness of accrual and cash
Selection of accounting methods and
disclosure levels Predicting future profits from past profits
Disclosure and managerial behaviour
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Fraud and Ethical Issues in Accounting
What leads to fraud and unethicalaccounting?
Fraud-hit com anies: e. .
25 June 2011 PHI Learning Private Limited New Delhi 18
Satyam Enron
World Com
The Satyam case
Resolving ethical dilemmas