Accounting and Financial Fundamentals for

"Finance and accounting are the backbone of any organization. Yet plenty of executives and businesspeople are befuddled and intimidated by number crunching. Now there's a complete, concise, non-technical guide to grasping all the essentials of accounting -- and directly applying financial data. Readers will learn how to: * pinpoint the most profitable products or sales regions * figure the rate of return from a capital investment * make internal management reports more useful * understand and prepare a statement of cash flows Its straightforward approach will appeal to all managers and executives who need a practical, comprehensible lesson in using financial analysis to set key business goals, measure results, and make smart decisions."

"ROBERT RACHLIN (Plainview, NY) is president of Robert Rachlin Associates and serves as Assistant Dean for Business Studies at Hofstra University. He wrote The Handbook of Business Budgeting, along with many other books.

ALLEN SWEENEY (Miami, FL) is a former senior vice president and CFO of Del Monte Foods."

Preface

ix

The Dual Aspect Principle

1

(12)

The Accrual Concept

13

(10)

Other Basic Concepts

23

(7)

The Money Measurement Principle.

The Business Entity Principle.

The Going Concern Principle.

The Cost Concept.

The Realization Principle.

Accounting Conventions

30

(4)

The Convention of Consistency.

The Convention of Conservatism.

The Convention of Materiality.

Financial Photography: Balance Sheets and Income Statements

34

(12)

The Balance Sheet.

The Income Statement.

Sales.

Special Accounting Problems

46

(18)

Fixed Assets.

Inventory Accounting.

Accounts Receivable.

The Basic Accounting Process

64

(23)

Basic Rules of the Accounting Process.

Filing Systems.

Steps of the Accounting Process.

Manufacturing and Merchandising Cost Essentials

87

(18)

Merchandising vs. Manufacturing.

Manufacturing Cost Systems.

Other Basic Cost Concepts and Their Applications

105

(14)

Types of Costs.

Other Cost Concepts.

The Contribution Concept.

Other Applications of the Contribution Concept.

Fundamentals of Investment Analysis: Evaluating New Investments---Some Basic Considerations

119

(16)

The Payback Method.

The Accounting Method.

Fundamentals of Investment Analysis: Evaluating New Investments---Present Value ROI Analysis

135

(22)

Future Value vs. Present Value.

The Cash Investment.

The Cash Savings.

The Present Value Method.

Discounted Cash Flow---Internal Rate of Return.

Excess Present Value Index.

Fundamentals of Investment Analysis: Evaluating New Investments

157

(6)

The Payback Method.

The Accounting Method.

Present Value Methods.

Choosing the Best Method.

Setting the Rate of Return

163

(6)

Fundamentals of Investment Analysis: Measuring Overall Business Performance Using ROI

169

(21)

Return on Shareholders' Equity.

Return on Total Investment.

Return on Total Assets.

Some General Considerations.

Other ROI Applications.

Analysis of ROI by Product.

Fundamentals of Financial Analysis: Balance Sheets and Income Statements

190

(15)

Assessing Financial Condition.

Financial Analysis: Some Disclaimers.

Understanding Cash Flows

205

(14)

Defining Cash Flows.

Decisions That Impact Cash Balances.

Statement of Cash Flows.

Preparing the Statement of Cash Flows.

Benefits of Understanding the Statement of Cash Flows.

Appendix A: Compound Interest Tables

219

(4)

Appendix B: Present Value Tables

223

(8)

Index

231

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Accounting and Financial Fundamentals for Nonfinancial Executives

Summary

Author Biography

Table of Contents

Supplemental Materials