Product description
Chapter 1 The Business of Accounting 9
Who Uses Accounting Information? 10
Accounting is More than Numbers 15
Generally Accepted Accounting Principles 36
Tracking and Measuring Success 43
How Accountants Can Help You 47
Chapter 2 Who's Who in Accounting 54
Bookkeeping Versus Accounting 65
Entertainment Accountants 69
Anti-Money Laundering Specialists 78
CFOS Steer Corporations 82
Environmental Accountants 91
Choosing the Right Professional 94
Chapter 3 Setting the Framework 99
Accounting Starts with Accounts 100
How the Accounts Connect 103
What Counts as a Transaction 112
Accounting and Organization 124
Chapter 4 Assets, Liabilities, and Equity 129
The Accounting Equation 130
Breaking Down Asset Categories 137
A Closer Look at Current Assets 143
The Importance of Cash 149
A Closer Look at Fixed Assets 152
Long-Term Liabilities 162
Chapter 5 Revenues, Costs, and Expenses 169
The Cost-Inventory Connection 179
Earning Profits, But Out of Cash 203
Chapter 6 Financial Statements 206
The Statement of Profit and Loss 207
The Statement of Cash Flows 216
What Financial Statements Tell You 220
Financial Statements Flow into Tax Returns 227
How These Statements Interconnect 230
Chapter 7 Accounting Moves Forward 234
The Big Accounting Firms 235
Scandals in the Accounting World 238
Big Changes in the Industry 242
Accounting in the Cloud 260
Tomorrow's Accounting 263
"Learn the Basics of Accounting" offers a quick and easy guide to essential business skills. From negotiation and leadership to expense monitoring, this bestselling series packs hundreds of entertaining tidbits and concepts into an easy-to-digest format. Whether you're a new business owner, manager, or entry-level employee, these guides provide must-have knowledge to conduct business more efficiently—no MBA required! With insights on hiring, firing, strategizing, and calculating revenues, you'll gain the confidence and skills needed to succeed in today's competitive business world.