tailieunhanh - Ebook Business accounting and finance: Part 2

(BQ) Part 2 book "Business accounting and finance" has contents: The nature of costs; relevant costs, marginal costs, and decision-making; the control budget and variance analysis; financing the business, and the cost of capital; investment appraisal and the capital budget. | Part II FINANCIAL MANAGEMENT Part contents 9 The nature of costs 355 10 Managing costs 383 Case Study III 433 11 Relevant costs, marginal costs and decision-making 439 12 Short-term planning – the operating 477 budget 13 The control budget and variance analysis Case Study IV 515 547 14 Financing the business and the cost of capital 549 15 Investment appraisal and the capital budget 585 Case Study V 16 Working capital management Case Study VI 620 623 668 Outline of Part II Part II is about financial management, which is broadly defined as the management of all the processes associated with the efficient acquisition and deployment of both short- and long-term financial resources. Businesses raise money from shareholders and lenders to invest in assets, which are used to increase the wealth of the business and its owners. The underlying fundamental economic objective of a company is to maximise shareholder wealth. Financial management includes management accounting which is concerned with looking at current issues and the future in terms of providing information to assist managers in decision-making, forecasting, planning and achievement of plans. Chapter 9 provides an introduction to management accounting and the framework in which it operates. It looks at the nature and behaviour of costs and how they change in response to changes in levels of activity. Chapter 10 takes a broad approach to the management of costs, and the relationships between costs, activity volumes and profit. This chapter introduces the topic of break-even analysis, and various approaches to the treatment of costs, and goes on to consider some of the more recently developed techniques of cost management, such as activity based costing (ABC), and includes non-financial performance measurement and the balanced scorecard. Chapter 11 considers how some of the techniques of management accounting may be used in the decision-making process. .

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