Accounting for Non-Accountants : The Fast and

Guide to accounting for anyone who has never taken an accoutning class, and has no idea what a balance sheet is. This covers it all. Easy to understand style. Get your accounting system up and running and your business needs satisfied.

Acknowledgments

ix

Introduction

1

(2)

Introducing Accounting and Financial Statements

3

(10)

What Is Accounting?

Who Uses Accounting Information?

Financial Statements

How Different Business Entities Present Accounting Information

Generally Accepted Accounting Principles

13

(12)

Who Are the SEC, AICPA, and the FASB?

Generally Accepted Accounting Principles (GAAP)

The Balance Sheet and Its Components

25

(20)

Understanding the Balance Sheet

The Accounting Equation

The Components of the Balance Sheet

The Transactions Behind the Balance Sheet

The Income Statement

45

(20)

Understanding the Income Statement

The Income Statement Illustrated

Transactions That Affect the Income Statement

Preparing and Using a Statement of Cash Flows

65

(10)

What Is a Statement of Cash Flows?

Cash and Cash Equivalents

The Statement of Cash Flows Illustrated

Double-Entry Accounting

75

(26)

The General Journal

The General Ledger

Adjusting Journal Entries

Closing Journal Entries

The Corporation

101

(24)

The Corporation Defined

What Is Capital Stock?

Dividends and Splits

Incorporating Solana Beach Bicycle Company

What Is Treasury Stock?

Using Financial Statements for Short-Term Analysis

125

(12)

Using Short-Term Ratios

Current and Quick Ratios

Working Capital

Composition of Assets

Using Financial Statements for Long-Term Analysis

137

(12)

Quality of Earnings

Rate of Return on Investment

Sales-Based Ratios or Percentages

Earnings Data

Long-Term Debt Position

Dividend Data

Footnotes

Budgeting for Your Business

149

(10)

What Is a Budget?

Planning and Control

Advantages of Budgeting

The Master Budget

Sales Budget

Capital Budget

Budgeted Income Statement

The Cash Budget

Audits and Auditors

159

(12)

What Is an Audit?

Types of Auditors

The Standard Audit Opinion Illustrated

The Parts of the Report

Other Types of Audit Reports

Why Audits Are Useful to You

Appendix A: Internet for Accountants

171

(4)

Appendix B: Financial Statements--Station Casinos, Inc.

175

(46)

Index

221

(6)

About the Author

227

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Accounting for Non-Accountants : The Fast and Easy Way to Learn the Basics

Summary

Table of Contents

Supplemental Materials

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Accounting for Non-Accountants : The Fast and Easy Way to Learn the Basics

Summary

Table of Contents

Supplemental Materials

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