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An informative, easy-to-use guide to accounting fundamentals and concepts
Everyone needs to budget money and manage costs, whether for groceries and everyday purchases, rent or mortgage, education, retirement, or even a business. Like it or not, accounting infuses most everything in life. From credits, debits, and basic bookkeeping to getting the most out of tax deductions and from reading or creating a business’ financial statement to better understanding accounting lingo, The Handy Accounting Answer Book can help anyone acquire the skills to start or run a business, plan for retirement, set money aside for a big purchase, establish everyday budgets, and improve their money management.
Find out about the concepts and assumptions behind the Generally Accepted Accounting Principles. Understand tax returns and maximize write-off. Manage retirement account statements and find ways to improve their results. Learn how to create a business plan. Learn about a business’ financial ratios, cost of goods, depreciation, tax planning, recognizing revenue and expenses, financial audits, year-end closing the books, and other terms and rules. Maximize profits and improve personal or business bottom lines.
Covering accounting fundamentals, concepts, and jargon, The Handy Accounting Answer Book is for everyone who wants to understand the language of money and business. It uses basic terms and simple examples to illustrate complex accounting topics and can help you make better decisions about your business or personal finances. This handy primer answers nearly 800 questions and offers fun facts covering the basics of accounting, including …
For anyone planning for a business, retirement, college, or life in general, this informative book also includes a glossary of commonly used terms to cut through the jargon, a helpful bibliography, appendices providing examples of accountancy practices, and an extensive index, adding to its usefulness. It will help anyone’s financial intelligence!
“… accessible guide … for anyone baffled by the subject. … Anyone interested in learning more about personal or corporate accounting will find useful information here.” – Library Journal
“… concise overview of financial and managerial accounting … well written and easy to understand … useful to a reader with little to no accounting knowledge, making it a good choice …” – Booklist
“Accounting professor Amber Gray's "The Handy Accounting Answer Book" is a good gift for accountants to give their … clients.” – Accounting Today
“… addresses topics found in introductory accounting textbooks, as well as information for non-accountants …” – Book News
Preface and Acknowledgments
Introduction
1. What is Accounting?
2. Financial Accounting Standards Board’s (FASB) Conceptual Framework
3. Elements of Financial Statements
4. Four Basic Financial Statements
5. Financial Statement Analysis
6. Bookkeeping and the Accounting Cycle
7. Specific Accounting Issues
8. Cost Accounting Basics
9. Budgeting, Planning and Controlling
10. Managerial Accounting Basics
11. Starting a Small Business
12. Accountants and the Future of Accounting
Appendix 1: Journal Entries examples for most basic transactions
Appendix 2: Partnership Accounting
Appendix 3: Service Company, Merchandiser, and Manufacturer Financial Statements
Appendix 4: Public Company Annual Report Form 10-K : Vera Bradley, Inc.
Glossary of Terms
Further Reading
Index