The world of finance and accountancy can seem one of impenetrable mystery but it is one that many managers have to face in their day to day lives. With its comprehensive coverage of the subject, this book allows you not only to ask pertinent questions but also to understand the answers. Chapter by chapter, the workings of finance are mapped out and laid bare - the formal reports, the methods used to prepare the numbers and what accountants actually do every day. This edition is fully updated to reflect current allowances, rates and regulations and further information. It also includes even more questions (with comprehensive answers) to challenge the reader's understanding. Chapter 1: The purpose of accounting Chapter 2: Basic terminology Chapter 3: Accounting concepts and principles Chapter 4: The profit and loss account Chapter 5: The balance sheet Chapter 6: The cash flow statement Chapter 7: Ratio analysis Chapter 8: Users of financial information Chapter 9: The general ledger Chapter 10: Costing Chapter 11: Standard costing Chapter 12: Variance analysis Chapter 13: Two more things on costing Chapter 14: The audit of annual accounts Chapter 15: Tricks of the trade Chapter 16: Financial information for managers Chapter 17: Capital investment appraisal: experts only! Chapter 18: Activities of an Accounts department Chapter 19: Cash flow management Chapter 20: Corporate financial planning Chapter 21: Personal finance: income tax and national insurance Chapter 22: Personal finance: investment Chapter 23: Personal finance: capital gains tax and others . One, five and ten-minute introductions to key principles to get you started. Lots of instant help with common problems and quick tips for success, based on the author's many years of experience. Tests in the book and online to keep track of your progress. Extra online articles to give you a richer understanding of the subject. Quick refreshers to help you remember the key facts. Innovative exercises illustrate what you've learnt and how to use it.