Accounting For Dummies, 5th Edition

Author: John A. Tracy
Publisher: John Wiley & Sons
ISBN: 9781118482223
Published In: March 2013
Format: Paperback , 408 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Learn the basics of practical accounting

Featuring the latest information on accounting methods and standards, this guide shows you how to avoid accounting fraud, minimize confusion, maximize profits, and make sense of accounting basics. You'll quickly understand how to manage inventory, report income and expenses for public or private companies, evaluate profit margins, analyze business strengths and weaknesses, and manage budgets for a better bottom line.

With 25 percent new content including updated information on small and large business reporting standards, international accounting standards, and preventing financial reporting fraud, Accounting For Dummies continues to be an excellent resource for those studying accounting.

The separate accounting and financial reporting standards for private/small businesses versus public/large businesses (Little GAAP vs. Big GAAP)
The internationalization of accounting standards
The rise in restatements of previously issued financial reports by public corporations, and how revisions of previously reported earnings impact investors
The increasing focus on preventing financial reporting fraud and the expanded role and responsibility of the CPA auditor
Accounting problems with stock options
The "unaccounted for" cost of employee pensions and retirement health care costs, in both the private and public sectors
Expanded coverage of small business accounting
Updated resources and websites

The information in Accounting For Dummies is valuable for anyone studying or working in the fields of accounting or finance.

Introduction 1

Part I: Opening the Books on Accounting 11

Chapter 1: Accounting: The Language of Business, Investing, Finance, and Taxes 13

Chapter 2: Financial Statements and Accounting Standards 33

Chapter 3: Keeping the Books 57

Part II: Exploring Financial Statements 81

Chapter 4: Reporting Profit 83

Chapter 5: Reporting Financial Condition 107

Chapter 6: Reporting Cash Flows and Changes in Stockholders’ Equity 131

Chapter 7: Accounting Alternatives 151

Part III: Accounting in Managing a Business 173

Chapter 8: Deciding the Legal Structure for a Business 175

Chapter 9: Accounting in Managing Profit 199

Chapter 10: Budgeting 221

Chapter 11: Cost Accounting 241

Part IV: Preparing and Using Financial Reports 263

Chapter 12: Getting a Financial Report Ready 265

Chapter 13: How Lenders and Investors Read a Financial Report 291

Chapter 14: Filling Out the Financial Statements for Business Managers 319

Part V: The Part of Tens 337

Chapter 15: Ten Accounting Tips for Managers 339

Chapter 16: Ten Tips for Reading a Financial Report 349

Appendix: Glossary: Slashing Through the Accounting Jargon Jungle 359

Index 373

John A. Tracy, CPA, is Professor of Accounting, Emeritus, at the University of Colorado in Boulder. A former staff accountant at Ernst & Young, Tracy has authored numerous books on accounting.