Accounting: Financial, Cost, Managerial

Abstract

This book is intended for use in undergraduate and graduate levels, and it addresses accounting majors, business people and accounting practitioners. Definitely, a knowledge of book-keeping and accounting will prove to be beneficial for anyone considering a career in business. In this regard, it is also known that financial accounting, cost accounting and managerial accounting are very important in all aspects of management and thus an appreciation of its uses and limitations is indispensable to all business majors. Thus, our book aims to assist readers concerning these issues. It is not intended to show the details of bookkeeping process but plans on enabling the students, accounting majors, business people and accounting practitioners to understand the basic concepts and principles of financial accounting in addition to using this knowledge in various areas of business administration.

Furthermore, the book covers both International Accounting Standards (IAS) and Turkish Accounting Standards (TMS) because of the convergence between the two. Although the main purpose of this book is to provide the readers with basic concepts and fundamentals of accounting, this work also supplies the users with necessary insight to read, understand and analyze the financial statements through special emphasis on the required statements in Turkey. Additionally, it aids the users to obtain some knowledge about decision making in the business world. Then, as you know, the official currency in Turkey for now is New Turkish Lira (YTL) for a transitory period, until the country’s official currency will again be Turkish Lira (TL) in the coming years. That is why we have always used YTL throughout this book.

After that, the book is organized in four parts as financial accounting, cost accounting, managerial accounting and problems. Chapter 1 contains some topics such as book-keeping, dual-entry and accounts, financial statements, end of the period transactions, manufacturing account, financial statement analysis, accounting ratios and the cash flow statement. Moreover, Chapter 1 introduces the generally accepted accounting principles and their applications in recording and reporting economic transactions. Current Assets, Inventories and Long-Lived Assets are also covered in this book. Besides, Inventories and Fixed Assets reflect the current developments in IAS and TMS. Next, Chapters 2 is about Cost Accounting, which involves cost classification, absorption costing, job and batch costing systems, and process costing systems. After that, Chapter 3 focuses on managerial accounting, that explains cost-volume-profit analysis, budgeting, standard costing systems and activity based costing systems. Following that, in chapter 4, some problems are provided on cost accounting and managerial accounting for self practices. Definitely, some problems are also presented through chapters with their solutions in order to explain the subjects.

Overall, we believe that this book will be beneficial to all readers including students, professionals, accounting majors, business people and accounting practitioners.

Keywords: Accounting, Financial Accounting, Cost Accounting, Managerial Accounting (Muhasebe, Finansal Muhasebe, Maliyet Muhasebesi, Yönetim Muhasebesi)