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| Acknowledgments | |
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| Introduction | |
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| Introducing Accounting and Financial Statements | |
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| What Is Accounting? | |
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| Who Uses Accounting Information? | |
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| Financial Statements | |
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| How Different Business Entities Present Accounting Information | |
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| Generally Accepted Accounting Principles | |
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| Who Are the SEC, AICPA, FASB, and IASB? (or What Is This, Alphabet Soup?) | |
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| What Are Generally Accepted Accounting Principles (GAAP)? | |
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| What Are the Differences Between U.S. Accounting Standards and International Standards? | |
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| The Balance Sheet and Its Components | |
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| Understanding the Balance Sheet | |
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| The Accounting Equation | |
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| Components of the Balance Sheet | |
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| Transactions behind the Balance Sheet | |
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| The Income Statement | |
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| Understanding the Income Statement | |
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| The Income Statement Illustrated | |
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| Transactions That Affect the Income Statement | |
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| Business Transactions | |
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| Preparing and Using a Statement of Cash Flows | |
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| What Is a Statement of Cash Flows? | |
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| Cash and Cash Equivalents | |
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| The Statement of Cash Flows Illustrated | |
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| The Corporation | |
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| The Corporation Defined | |
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| What Is Capital Stock? | |
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| Cash Dividends, Stock Dividends, and Stock Splits | |
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| Incorporating Solana Beach Bicycle Company | |
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| What Is Treasury Stock? | |
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| Double-Entry Accounting | |
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| The General Journal | |
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| The General Ledger | |
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| Trial Balance | |
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| Adjusting Journal Entries | |
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| Closing Journal Entries | |
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| Using Financial Statements for Short-Term Analysis | |
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| Using Short-Term Ratios | |
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| Current and Quick Ratios | |
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| Working Capital | |
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| Composition of Assets | |
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| Inventory Turnover Ratio | |
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| Average Collection Period | |
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| Using Financial Statements for Long-Term Analysis | |
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| Quality of Earnings | |
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| Rate of Return on Investment | |
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| Sales-Based Ratios or Percentages | |
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| Earnings Data | |
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| Long-Term Debt Position | |
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| Dividend Data | |
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| Footnotes | |
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| Budgeting for Your Business | |
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| What Is a Budget? | |
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| Planning and Control | |
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| Advantages of Budgeting | |
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| Master Budget | |
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| Sales Budget | |
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| Capital Budget | |
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| Budgeted Income Statement | |
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| Cash Budget | |
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| Audits and Auditors | |
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| What Is an Audit? | |
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| Types of Auditors | |
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| The Standard Audit Opinion Illustrated | |
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| Parts of the Report | |
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| Other Types of Audit Reports | |
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| Why Audits Are Useful to You | |
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| Other Services Provided by Auditors | |
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| Fraud and Ethics | |
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| Fraud Defined | |
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| What Causes Fraud | |
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| How Fraud Is Committed | |
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| Why Do Employees Steal? | |
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| What Can You Do to Prevent Fraud in Your Organization? | |
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| What If My Business Is Too Small to Hire Additional Employees or Consultants? | |
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| Ethics | |
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| Internet for Accountants | |
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| What Resources Are Available for Accountants? | |
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| Frequently Asked Questions | |
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| Financial Statements: The Coca-Cola Company | |
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| Index | |
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| A Note to My Readers | |
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| About the Author | |