Mastering Financial Accounting Essentials The Critical Nuts and Bolts

Name: Mastering Financial Accounting Essentials The Critical Nuts and Bolts
Price: 8.81 USD
Availability: InStock
ISBN: 9780470393321

ISBN-10: 0470393327

ISBN-13: 9780470393321

Edition: 2010

Authors: Stuart A. McCrary

List price: $47.50

This item qualifies for FREE shipping.

30 day, 100% satisfaction guarantee!

Buy new: $35.07

Marketplace

2 new & used from $8.81

what's this?

Rush Rewards U
Members Receive:

You have reached 400 XP and carrot coins. That is the daily max!

Description:

The essential guide to financial accountingIn todayâ€²s financial world, you must know how to read and interpret financial reports/statements in order to effectively serve investors, creditors, and tax authorities. This is especially true in light of recent accounting scandals.Mastering Accounting Essentials is an important guide for those who need to understand the language and law of this discipline in order to talk to accountants and clients in an intellectual manner. Part One of the book uses an extended scenario to present the basics of financial accounting. Along the way, youâ€²ll become familiar with inventory valuation methods as well as the timing of erosion of productive assets.…

Book details

List price: $47.50
Copyright year: 2010
Publisher: John Wiley & Sons, Limited
Publication date: 10/29/2009
Binding: Hardcover
Pages: 176
Size: 6.44" wide x 9.13" long x 0.75" tall
Weight: 0.748
Language: English



Preface


Acknowledgments



Creating Ledger Accounting


Count Everything


The Beginnings of Double-Entry Accounting


Double-Entry Recording of Business Transactions


Handling Debits and Credits


Keeping Track of Data


A Mathematical Description of Double-Entry Conventions


Handling Income Items


Determining Profit in the Simple Accounting Model


Permanent Accounts Overview


Temporary Accounts Overview


Conclusion


Questions



Accounting Conventions


Reasons Accountants Develop Conventions


Accounting Cycle


Classification


Comparability


Conservatism


Double-Entry


Full Disclosure


Focus on Addition


Generally Accepted Accounting Principles (GAAP)


Going-Concern Value


Journal Entry


Matching


Materiality


Recognition


Understandability


Usefulness


Valuation


Verifiability


Conclusion


Questions



Balance Sheet


Balance Sheet Contains Permanent Accounts


Time Line of Cash Flows


Types of Balance Sheet Accounts


Presenting the Classified Balance Sheet


Conclusion


Question



Adding an Income Statement


Temporary Accounts


Using Temporary Accounts


Types of Transactions Involving Temporary Accounts


Income Accounts


Single-Step Income Statement


Multistep Income Statement


Conclusion


Questions



Timing and Accrual Accounting


Journaling Accounting Transactions


Cash Basis Accounting


Accrual Basis Accounting


Conclusion


Questions



The Statement of Cash Flows


Importance of Cash


An Intuitive Way to Track Cash


Standard Accounting Categories on the Statement of Cash Flows


Using the Indirect Method to Document Changes in the Cash Position


Using the Direct Method to Document Changes in the Cash Position


Producing a Statement of Cash Flows Using the Indirect Method


Producing a Statement of Cash Flows Using the Direct Method


Conclusion


Questions



Ensuring Integrity


Internal Controls and Procedures


Independent Auditing


The Role of the User of Financial Statements


Conclusion


Questions



Financial Statement Analysis


Restating Accounting Results


Ratio Analysis


Trend Analysis


Industry Analysis


Conclusion


Questions


Collected Questions


Answers


About the Author


Index