Audra Ong – författare

Sales managers, production managers, HR managers, amongst others, are recipients of financial information which they are expected to understand. They need to appreciate the impact of their decisions on costs, selling prices, investment decisions and profit. They must be able to analyse, communicate and act on financial information to be a valuable member of the management team.

This text explains in simple language the methods and techniques of cost analysis that can be applied strategically at any level in an organization. The busy manager will find that the cost information provided will help them plan and control the activities for which they are responsible and also make strategic decisions in the most effective way. Whether you are in a manufacturing or service organisation, the book will help you to answer the four questions: What did it cost? What should it have cost? How can we improve? What is our next strategic move? No prior knowledge of accounting or statistics is required. The book defines all key terms and emphasizes the essential knowledge of analyzing cost in a strategic context.

Business has become more international and more complex. Whether you are a manager, a student, or someone generally interested in corporate financial information, you want information and you want to understand that information. Companies in all countries are required to generate financial information, if for no other reason than to settle their tax obligations.

If you are interested in the larger companies, such as those listed on a stock exchange, they must make financial information public, and the nature and type of that information is strictly regulated. Companies must comply with accounting standards. Many countries use the International Accounting Standards issued by the IFRS Foundation. This is a not-for-profit international organization that has developed a single set of high-quality global accounting standards. These standards can be complex, but this book explains clearly the main requirements.

As an owner of a business or a manager, you will deal with numbers of various types. This book is written for those who may be responsible for, or are generally interested in, the activities of organizations but do not have the knowledge to interpret the financial information that is available.

The book identifies the types of organizations that generate financial information and explains how you can use it for your benefit. The early chapters focus on the information that is publicly available for large companies and demonstrate how to select and analyze the figures for decision making. The later chapters concentrate on the detailed management accounting information that is available internally for managers so that they can make decisions, investigate problems, and set performance targets. The final chapter, explores emerging and very pertinent issues such as “Can the organization obtain the basic resources to stay in business?” and “Are its activities harmful to the environment?”