View a sample chapter - Pearson Education
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FOUNDATIONS Part 1 Part 1 comprises 1 Cost behaviour 2 The difference between profit and cash Part 1 covers the basic information that will help readers understand the rest of the book. An understanding of the different ways in which costs can behave when the volume of activity changes is of fundamental importance to managers. Cost control will always be an important managerial activity. Just as important is the need for managers to have a clear understanding of the difference between profit and cash. Many companies that go into liquidation are profitable! They cease to trade because they have run out of cash. Cash is the life-blood of organizations. Without it, they cannot function and pursue their objectives. The information in the rest of this book will be of little use to you if your business fails to survive. Understanding the difference between profit and cash is fundamentally important. Proofs: File not for distribution without prior permission from Pearson Education
Transcript of View a sample chapter - Pearson Education
