Summary
Accounting and Finance: An Introduction - McLaney and Atrill (2018) - Chapter 1 (Summary)
- Institution
- Kings College London (KCL)
Book: Accounting and Finance: An Introduction by McLaney and Atrill (2018) Summary: Chapter 1
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
1 review
By: JanOudman • 3 year ago
Content preview
Accounting and Finance – Week 1Chapter 1 – Introduction to accounting and finance
What are accounting and finance?
- Accounting = collecting, analyzing and communicating financial information; aid to
make informed decisions
- Finance (financial management) = the ways in which funds for a business are raised
and invested; help decision makers
- An understanding of finance should help in identifying:
o Main forms of finance available
o Costs, benefits and risks of each form of finance
o Risks associated with each form of finance
o Role of financial markets in supplying finance
Who are the users of accounting information?
- For accounting information to be useful, accountant must be clear for whom the
information is being prepared and for what purpose the information is used
- Main users of financial information relating to a business:
The conflicting interests of users
- Possibility of collision of interests; distribution of business wealth is most likely area
of collision
- Accounting can play an important role in monitoring and reporting how various
groups benefit from the business
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kimkx. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £3.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now