Accounting Workbook For Dummies

Front Cover
John Wiley & Sons, Aug 8, 2011 - Business & Economics - 320 pages

Balance the books, learn important accounting concepts, and master the basics

Accounting Workbook For Dummies is for business bookkeepers and accountants, who need a refresher on the subject, as well as students taking their first accounting class. It’s a comprehensive study guide that can help you improve your accounting skills and lay the foundation for further advancement.

Whether you’re trying to get certified and become an accountant, or own a small business and need a little help balancing your books, this hands-on guide provides the learning and helpful practice you need.

The third edition of Accounting For Dummies contains guidance on incorporating principles to adhere to the Sarbanes-Oxley Act, reading financial reports, generating income statements and balance sheets, and establishing budgets. Accounting Workbook For Dummies provides you with real-world exercises to see these principals in action, although you don’t need to have read Accounting For Dummies.

Accounting Workbook For Dummies focuses on business accounting, explains how business transactions are recorded in the accounts of a business and the financial statements that are prepared for a business to report its profit and loss, financial condition, and cash flows. It also shows you how business managers use accounting information for decision making.

The book’s four parts cover topics like recordkeeping basics, financial statements, accounting for business managers, and investment accounting. You’ll learn to:

  • Record transactions, track costs, and manage accounts

  • Open and close bookkeeping cycles

  • Analyze business performance and profit

  • Choose the right accounting method

  • Master investment accounting fundamentals

  • Understand manufacturing cost accounting

With your own copy of Accounting Workbook For Dummies, you can learn how to do all of that, find out what you need to know about financial statements, get tips for management accounting, and more.

 

Contents

Introduction
1
Elements of Business Accounting
7
Financial Effects of Transactions
27
Getting Started in the Bookkeeping Cycle
47
The Bookkeeping Cycle Adjusting and Closing Entries
75
Preparing Financial Statements
97
The Effects and Reporting of Profit
99
Reporting Financial Condition in the Balance Sheet
119
Reporting Cash Flows and Changes in Owners Equity
159
Choosing Accounting Methods
177
Managerial Manufacturing and Capital Accounting
201
Manufacturing Cost Accounting
229
Figuring Out Interest and Return on Investment
259
The Part of Tens
287
A TenPoint Checklist for Management Accountants
295
Index
301

Coupling the Income Statement and Balance Sheet
143

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About the author (2011)

John A. Tracy is a former accountant and professor of accounting. He is also the author of Accounting For Dummies.

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