December 03, 2004

Accounting For Business Studies

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I wrote this book so naturally I think its brilliant. Not just because it has e-business and globalisation in it, its just a cool book. I have been teaching introductory accounting at Manchester Metropolitan Uni. for ten years so I know the subject.

I graduated Warwick in 1984 with a degree in economics. I am back doing a part time phd in accounting.

I think Warwick is a much more friendly place now which is great.


- 2 comments by 0 or more people Not publicly viewable

  1. steve

    It's pretty key to include e–business these days, I think the majority of company accountants will have to manage e–transactions etc in the very near future (that's if they don't already!)

    21 Aug 2006, 14:50

  2. Duncan Williamson

    I see this book was published four years or so ago but had not seen it until now. The comments that follow are based purely on what I have seen from the Search Inside facility on www.amazon.co.uk.

    I find the style very bookish: page 3, Step 2 of the Circuit of Capital (a term I’ve not heard before). The author trots out that new businesses normally pay cash for everything. Normally true; but why not mention why there are exceptions as this could be vital. Then the author says that rented assets are not owned … they’re not assets then; and what about leases? Finance leases are vital and DO appear on the balance sheet.

    Page 4: Step 4 profit is not earned until the product is sold. Again, this is too simplistic and it deserves more of an explanation, especially for the enquiring and keen student.

    Also page 4, a very glib it’s better to invest £10 and earn £1 profit than invest £100 million and earn £1 million. Again this needs explanation and, to be frank, I might disagree,especially if we ar talking about a short term situation.

    Page 4: language is a problem for me here, the author says that business can be classified into sole traders, partnerships OR limited companies … s/he means AND limited companies … there are severl more business forms too, let me add. Then s/he says that profit is shared AMONG when s/he means that profit is shared BETWEEN.

    Page 5 a major error here: the author is working us through the bookkeeping/accounting aspects of a good, step by step example of the starting of a business but then tells us that Capital is a Liability … it is NOT a liability. Moreover, the athor rightly points out that total assets = total liabilities but fails to explain why that is the case.

    08 Jul 2007, 09:46


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