Accounting for Managers by Rama Gopal, CA. C

By Rama Gopal, CA. C

Scholars from different backgrounds like Engineering, Pharmacy, Arts and organic Sciences subscribe to a multidisciplinary direction like MBA. Many such scholars don't have 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, comprehend the basics of accounting and begins with the practise of economic statements. such a lot scholars retain suffering from accounting, hoping to move one way or the other. Many scholars percentage their perspectives, even after passing, as their innovations aren't transparent, and fear for the subsequent semester, as they're to stand the complex topic ``Financial Management`` within the subsequent semester.

This ebook begins with basics. Emphasis is to transparent recommendations in basic language. the purpose is additionally to satisfy the aspirations of non-commerce scholars to boot to people who couldn't examine in English medium, previous. This booklet will profit the weakest of the susceptible and might 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 beneficial properties 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 beneficial properties as according to New development of Exams-True or fake, choose up correct selection.

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Sample text

Scope and Meaning of Accounting 11 Profit and loss statement is useful for the management, lenders, investors, the proprietor or the partners or the shareholders, tax authorities and workers, etc. For example, from its study, one can decide upon the possible courses of action, such as increasing the scale of production, introducing a new product, a revision in the selling price or the advertising policy, etc. Lenders can know, from a study of it, how their amounts have been utilised. Investors may decide on its basis whether or not they should keep their money invested in the firm.

They are invisible, in value, and play a significant role in the success or failure of the company. Unless such factors are kept in mind, it would be very difficult to assess the future of the firm. (iv) Accounting statements may be drawn up differently Due to different methods being employed say for valuing closing stock; it is possible to arrive at different figures of profits and give different financial picture. There are different methods for providing depreciation, which is treated as expenditure in arriving at the profits of the company.

However, profit is recognised on the completed work, certified by the proper agency, year after year, for the purpose of accounting. 6 ACCOUNTING CONVENTIONS By Accounting Conventions, we mean usages and customs of accounting. Customs or usage is a practice, which is in vogue, since long. We mostly use these conventions in preparing the final accounts, as they are useful for better understanding. Accounting conventions are the customs and traditions, which guide us in preparing accounting statements.

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