Financial Accounting For Dummies 2nd edition by Maire Loughran – Ebook PDF Instant Download/Delivery: 1119758122, 978-1119758129
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ISBN 10: 1119758122
ISBN 13: 978-1119758129
Author: Maire Loughran
Learn to speak fluent finance―and ace your exams!
Warren Buffett said that “accounting is the language of business.” And for many accounting and business students, the obscure terminology of accounting makes fluency hard to achieve. Financial Accounting For Dummies can help to demystify abstract concepts in a straightforward, friendly way. With step-by-step examples and real-world scenarios practice, it helps you grasp the fundamentals of accounting until you’re ready to interpret, analyze, and evaluate corporate financial statements like you’ve been doing it all your life.
Packed with easy-to-understand examples, this book takes you from the big three financial statements all the way through to income taxes. Or join the anti-fraud squad by discovering how to spot the ten most common accounting shenanigans.
- Grasp introductory financial accounting course material
- Explore common concepts financial professionals use to compile reports
- Understand leases, free cash flow, and statement analysis
- Learn accounting for small businesses
Whether you’re studying for your bachelor’s, MBA, or MAcc, you’ll find everything you need to speak the language of finance like a native―and use it to get to wherever you want to go!
Financial Accounting For Dummies 2nd Table of contents:
Introduction
About This Book
Foolish Assumptions
Icons Used in This Book
Beyond the Book
Where to Go from Here
Part 1: Getting a Financial Accounting Initiation
Chapter 1: Seeing the Big Picture of Financial Accounting
Knowing the Purposes of Financial Accounting
Getting to Know Financial Accounting Users
Respecting the Key Characteristics of Financial Accounting Information
Accepting Financial Accounting Constraints
Considering Your Ethical Responsibilities
Introducing the Conceptual Framework of Financial Accounting
Chapter 2: Introducing the Big Three Financial Statements
Gauging the Health of a Business through Its Financials
Reporting Assets and Claims: The Balance Sheet
Posting Profit or Loss: The Income Statement
Showing the Money: The Statement of Cash Flows
Chapter 3: Running the Numbers for Success
Identifying Accounting Issues and Solutions
Selecting a Business Entity
Reporting for Small Businesses
Managing Cash
Chapter 4: Acronym Alert! Setting the Standards for Financial Accounting
Walking through the Origins of Number Crunching
Knowing the Role of the American Institute of Certified Public Accountants (AICPA)
Following Regulatory Issues
Getting to Know the Financial Accounting Standards Board (FASB)
Part 2: Reviewing Some Accounting Basics
Chapter 5: Booking It: The Process Behind Financial Accounting
Shedding Some Light on Bookkeeping
Analyzing the Effect of Business Transactions
Defining Journals
Bringing It All Together in the Ledger
Chapter 6: Focusing on Accounting Methods and Concepts
Distinguishing between Key Accounting Methods
Sorting through Standards for Other Types of Accounting
Considering the Conceptual Framework of Financial Accounting
Part 3: Spending Quality Time with the Balance Sheet
Chapter 7: Assessing the Balance Sheet’s Asset Section
Homing in on Historic Cost
Learning What Makes an Asset Current
Keeping Track of Noncurrent (Long-Term) Assets
Studying the Asset Section of the Balance Sheet
Chapter 8: Digging for Debt in the Liabilities Section
Seeing How Businesses Account for Liabilities
Keeping Current Liabilities under Control
Planning for Long-Term Obligations
Accounting for Bond Issuances
Chapter 9: Letting Owners Know Where They Stand: The Equity Section
Distinguishing Different Types of Business Entities
Defining Paid-in Capital
Recording Retained Earnings
Spotting Reductions to Stockholders’ Equity
Learning about Stock Splits
Accounting for Accumulated Other Comprehensive Income
Seeing a Sample Equity Section of the Balance Sheet
Part 4: Investigating Income and Cash Flow
Chapter 10: Searching for Profit or Loss on the Income Statement
Presenting the Income Statement in One of Two Ways
Defining Different Types of Businesses
Examining Income Statement Sections
Watching Out for Unusual Income Statement Items
Arriving at the Final Product
Chapter 11: Following the Money by Studying Cash Flow
Understanding the Difference between Cash and Profit
Realizing the Purpose of the Statement of Cash Flows
Walking through the Cash Flow Sections
Recognizing Methods for Preparing the Statement of Cash Flows
Interpreting the Statement of Cash Flows
Looking at Two Sample Statements of Cash Flows
Chapter 12: Examining Depreciation Cost Flow Assumptions
Discovering How Depreciation Affects All Financial Statements
Mastering Costs
Distinguishing among Depreciation Methods
Preparing a Depreciation Schedule
Chapter 13: Learning about Inventory Cost Flow Assumptions
Discovering How Inventory Valuation Affects the Financial Statements
Do Service Companies Have Inventory?
Classifying Inventory Types
Getting to Know Inventory Valuation Methods
Preparing an Inventory Worksheet
Part 5: Analyzing the Financial Statements
Chapter 14: Using Ratios and Other Tools
Learning about Liquidity Measurements
Measuring Profitability
Exploring Activity Measures
Analyzing Financial Statements
Using Common Size Financial Statements
Chapter 15: Got Your Dictionary Ready? Reading Explanatory Notes and Disclosures
Realizing How Corporations Should Govern Themselves
Identifying Corporate Characteristics
Reviewing Common Explanatory Notes
Putting the Onus on the Preparer
Chapter 16: Studying the Report to the Shareholders
Why Private and Public Companies Treat Annual Reports Differently
Fulfilling Three Purposes
Reading the Annual Report to Shareholders
Walking through the Form 10-K
Part 6: Feeling Brave? Tackling More Advanced Financial Accounting Topics
Chapter 17: Accounting for Emerging Issues
Reviewing Different Technological Effects on Financial Accounting
Introducing the Pharmaceutical Industry
Crediting Research and Development Costs
Recognizing Losses
Chapter 18: Accounting for Income Taxes
Identifying Financial Income versus Taxable Income
Taking Advantage of Net Operating Losses
Presenting a Side-by-Side Comparison of Book and Tax Calculations
Taking Deferred Tax Liabilities or Assets to the Balance Sheet
Chapter 19: Accounting for Leases
Reviewing Lease Basics
Accounting for the Lessee
Accounting for the Lessor
Chapter 20: Reporting Changes in Methods and the Correction of Errors
Coping with Accounting Changes
Dealing with Errors
Part 7: The Part of Tens
Chapter 21: Ten Financial Accounting Shenanigans
Reporting Revenue in the Wrong Period
Reporting Fictitious Income
Increasing Income with Misleading Events
Shifting Expenses Between Periods
Misclassifying Cash
Failing to Record Liabilities
Reporting Liabilities in the Wrong Period
Not Disclosing Related-Party Transactions
Capitalizing Normal Operating Expenses
Deleting Transactions
Chapter 22: Ten Accounting Career Opportunities
Certified Public Accountant
Consultant
Corporate Accountant
Forensic Accountant
Government Accountant
Information Technology Auditor
Income Tax Accountant
International Accountant
Non-Accounting Accountant
Not-for-Profit Accountant
Index
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