Accounting All-in-One For Dummies

A one–stop accounting reference Packed with vital information culled from the extensive For Dummies accounting, bookkeeping, and auditing libraries, Accounting All–in–One For Dummies is a powerful, one–stop reference. Accounting All–in–One For Dummies is a comprehensive resource on a variety of accounting concepts. You&rsquo,ll get up to speed on: setting up your accounting system, recording accounting transactions, adjusting and closing entries, preparing income statements and balance sheets, planning and budgeting for your business, handling cash and making purchase decisions, and more. Ways to report on your financial statements How to make savvy business decisions Auditing and detecting financial fraud Accounting All–in–One For Dummies is a one–stop reference for students studying the application of accounting theories and a valuable desk reference for accounting professionals in the workforce.

Introduction 1 Book I: Setting Up Your Accounting System 5 Chapter 1: Grasping Bookkeeping and Accounting Basics 7 Chapter 2: Outlining Your Financial Road Map with a Chart of Accounts 17 Chapter 3: Using Journal Entries and Ledgers 27 Chapter 4: Choosing an Accounting Method 43 Book II: Recording Accounting Transactions 53 Chapter 1: Keeping the Books 55 Chapter 2: Tracking Purchases 67 Chapter 3: Counting Your Sales 79 Chapter 4: Processing Employee Payroll and Benefits 91 Chapter 5: Computing and Reporting Payroll Taxes 111 Book III: Adjusting and Closing Entries 123 Chapter 1: Depreciating Your Assets 125 Chapter 2: Paying and Collecting Interest 137 Chapter 3: Proving Out the Cash 147 Chapter 4: Reconciling Accounts and Closing Journal Entries 157 Chapter 5: Checking Your Accuracy 175 Chapter 6: Adjusting the Books 185 Book IV: Preparing Income Statements and Balance Sheets 195 Chapter 1: Brushing Up on Accounting Standards 197 Chapter 2: Preparing an Income Statement and Considering Profit 207 Chapter 3: Assessing the Balance Sheet′s Asset Section 223 Chapter 4: Digging for Debt in the Balance Sheet&rsquo,s Liabilities Section 239 Chapter 5: Explaining Ownership in the Equit y Section of the Balance Sheet 253 Chapter 6: Coupling the Income Statement and Balance Sheet 265 Book V: Reporting on Your Financial Statements 279 Chapter 1: Presenting Financial Condition and Business Valuation 281 Chapter 2: Laying Out Cash Flows and Changes in Equity 291 Chapter 3: Analyzing Financial Statements 305 Chapter 4: Reading Explanatory Notes and Disclosures 321 Chapter 5: Studying the Repor t to the Shareholders 335 Book VI: Planning and Budgeting for Your Business 347 Chapter 1: Incorporating Your Business 349 Chapter 2: Choosing a Legal Structure for a Business 361 Chapter 3: Drawing Up a Business Plan to Secure Cash 371 Chapter 4: Budgeting for a Better Bottom Line 383 Chapter 5: Mastering and Flexing Your Budgeting 395 Chapter 6: Planning for Long–Term Obligations 407 Book VII: Making Savvy Business Decisions 419 Chapter 1: Estimating Costs with Job Costing 421 Chapter 2: Performing Activity–Based Costing 437 Chapter 3: Examining Contribution Margin 453 Chapter 4: Accounting for Change with Variance Analysis 469 Chapter 5: Making Smart Pricing Decisions 487 Book VIII: Handling Cash and Making Purchase Decisions 497 Chapter 1: Identifying Costs and Matching Costs with Revenue 499 Chapter 2: Exploring Inventory Cost Flow Assumptions 507 Chapter 3: Answering the Question: Should I Buy That? 519 Chapter 4: Knowing When to Use Debt to Finance Your Business 533 Chapter 5: Interpreting Your Financial Results as a Manager 547 Book IX: Auditing and Detecting Financial Fraud 555 Chapter 1: Mulling Over Sarbanes–Oxley Regulation 557 Chapter 2: Preventing Cash Losses from Embezzlement and Fraud 571 Chapter 3: Assessing Audit Risk 585 Chapter 4: Collecting and Documenting Audit Evidence 607 Chapter 5: Auditing a Client&rsquo,s Internal Controls 625 Chapter 6: Getting to Know the Most Common Fraud Schemes 647 Chapter 7: Cooked Books: Finding Financial Statement Fraud 663 Index 673