Accounting Demystified

Front Cover
AMACOM Div American Mgmt Assn, Nov 24, 2003 - Business & Economics - 192 pages
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Accounting is truly the language of business. Success or failure is measured in dollars, but in order to make good decisions, you need to understand how finances drive business realities and become fluent in the essential elements of the accounting process. ACCOUNTING DEMYSTIFIED tells you all you need to know about the numbers that drive business. The book uses examples of typical business situations to demonstrate basic financial concepts, including: * The accounting process * Financial statements * Making entries * Accounts payable and accounts receivable * Cashflow statements * Fixed and intangible assets * Inventory * Liabilities * Adjusting and closing entries * Prepaid expenses *Preparing a bank reconciliation * Accounting information systems * Stockholders equity * Ratio analysis ACCOUNTING DEMYSTIFIED transforms a complex and potentially intimidating subject into something anyone can easily comprehend. This useful resource helps you understand the basics of accounting and gives you access to an essential part of any business equation. For new students of accounting, entry-level accounting professionals, and business professionals whose own work relates directly to the numbers on the ledger, a basic understanding of core accounting functions and documents is critical. Accounting Demystified provides a simple and straightforward description of universal elements of the accounting process, plus accessible tutorials in creating, interpreting, and using financial statements. Haber’s clear language will let readers: * understand accounting basics * find errors quickly * prepare accurate financial statements * analyze financial documents * determine the financial health of a business * prepare a financial prospectus for potential investors and lenders From the classroom to the back room to the board room, Accounting Demystified serves as a valuable primer on the basics of accounting and the purposes they serve.
 

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Contents

Chapter 1 Introduction
1
Chapter 2 Financial Statements
4
Chapter 3 The Accounting Process
13
Chapter 4 Making the Entries
25
Chapter 5 Assets
30
Chapter 6 Cash
32
Chapter 7 Accounts Receivable
41
Chapter 8 Inventory
52
Chapter 13 Liabilities
89
Chapter 14 Accounts Payable
92
Chapter 15 Other Payables
95
Chapter 16 Stockholders Equity
99
Chapter 17 Merchandising Companies
107
Chapter 18 Adjusting and Closing Entries
118
Chapter 19 Specialized Journals
129
Chapter 20 Statement of Cash Flows
136

Chapter 9 Prepaid Expenses
66
Chapter 10 Other Receivables
68
Chapter 11 Fixed Assets
72
Chapter 12 Intangible Assets
85
Chapter 21 Ratio Analysis
143
Glossary
151
Index
167
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