Get Accounting For Dummies PDF

By John A. Tracy

ISBN-10: 0470246006

ISBN-13: 9780470246009

Examine the fundamentals of sensible accounting simply and painlessly with Accounting For Dummies, 4th Edition, which positive aspects new info on accounting tools and criteria to maintain you modern. With this advisor, you could steer clear of accounting fraud, reduce confusion, maximize earnings, and make feel of accounting fundamentals with this plain-English advisor in your accountant’s language. know the way to regulate stock, file source of revenue and bills for public or deepest businesses, overview revenue margins, study company strengths and weaknesses, and deal with budgets for a greater final analysis.

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Extra resources for Accounting For Dummies

Example text

Many businesses outsource payroll functions to companies that specialize in this area. ߜ Cash collections: All cash received from sales and from all other sources has to be carefully identified and recorded, not only in the cash account but also in the appropriate account for the source of the cash received. The accounting department makes sure that the cash is deposited in the appropriate checking accounts of the business and that an adequate amount of coin and currency is kept on hand for making change for customers.

Accountants prepare two types of financial flow reports for a business: ߜ The income statement summarizes the inflow from sales revenue and income, which is offset by the outflows for the expense during the period. Deducting expenses from revenue and income leads down to the wellknown bottom line, which is the final net profit or loss for the period and is called net income or net loss (or some variation of these terms). 25 26 Part I: Opening the Books on Accounting Alternative titles for this financial statement are the statement of operations and the statement of earnings.

As I explain in more detail in Chapter 3, at the end of the year the accountant makes a special survey to make sure that all events and developments during the year that should be recorded have been recorded, so that the financial statements and tax returns for the year are complete and correct. Chapter 1: Accounting: The Language of Business, Investing, Finance, and Taxes Employees Who Are Paid Wages and Salaries and Provided Other Benefits Customers Who Buy Products and Services Sold by the Business Government Agencies That Collect Taxes from the Business BUSINESS ENTITY Figure 1-1: Transactions between a business and the parties it deals with.

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Accounting For Dummies by John A. Tracy

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