Get Accounting for Non-Accountants, 3E: The Fast and Easy Way to PDF

By Wayne Label

ISBN-10: 1402273045

ISBN-13: 9781402273049

A quickly, Compact, and Easy-to-Understand source for Non-Accountants

Accounting for Non-Accountants is the must-have advisor for we all who've by no means taken an accounting classification, are mystified through accounting jargon, and feature no clue approximately stability sheets, source of revenue statements, or statements of money flows.

Whether you personal a enterprise, plan on beginning one, or simply are looking to regulate your individual resources, you will discover every thing you must know:

•How to arrange and use monetary statements
•How to regulate funds flows
•How to control budgets
•How to exploit accounting ratios to
•How to house audits and auditors interpret monetary statements

Let this booklet assist you love it helped those readers:

"Dr. Labels motives are uncomplicated and simple. "
"This can assist me much as I organize my very own enterprise. "
"I have labored in accounting for over twenty-five years, and this can be the simplest publication i've got noticeable to assist individuals with the fundamentals of accounting."

For marketers or a person who must brush up on accounting speedy, this e-book could have you up and operating in no time.

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Additional info for Accounting for Non-Accountants, 3E: The Fast and Easy Way to Learn the Basics

Example text

The need for reliable information has caused the federal government to pass laws requiring public companies to have their records and financial statements examined (audited) by independent auditors who will make sure that what companies report is accurate. This will be the topic of chapter 11. Verifiable Information The need for verifiable information does not preclude the use of estimates and approximation. If you were to eliminate all estimates from accounting, the resulting statements would not be useful primarily because the statements would not provide sufficient information.

Where practicable, the company must explain how its financial statements would have been different if the company had used Generally Accepted Accounting Principles. What Are Generally Accepted Accounting Principles (GAAP)? Generally Accepted Accounting Principles begin with the three basic assumptions made about each business. First, it is assumed that the business is separate from its owners or other businesses. Revenue and expenses should be kept separate from personal expenses. Second, it is assumed that the business will be in operation indefinitely.

Quantifiable Information Information is easier to understand and use if it is quantified. Most information that accountants and users of financial information use is represented by numbers. The information that is presented in the financial statements is presented in a numerical form; however, where that is impossible, the information (if it is relevant, reliable, understandable, and practicably obtainable) will be presented in narrative form, usually in a footnote to the statements. Accountants include narrative information along with quantifiable information because of the need for adequate or full disclosure; statement users must have sufficient information about a firm.

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Accounting for Non-Accountants, 3E: The Fast and Easy Way to Learn the Basics by Wayne Label


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