The Practical Guide to Finance and Accounting

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ISBN: 9780130270061 | 0130270067
Cover: Hardcover
Copyright: 5/1/2001

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In non-technical explanations, Drake & Dingier provide all the finance and accounting concepts, terms, and procedures essential to senior managers, small business owners, and executive secretaries, who are now taking on tasks once handled exclusively by financial professionals. Included is a CD-ROM featuring Excel templates of frequently used spreadsheets -- including corporate financial statements, cash flow/financial analysis, and budgets -- all easily adaptable and ready to go to work. Also included is a glossary of key terms and a list of truly useful Web sites.

Preface

xxi

Introduction

ACCOUNTING AND FINANCE: A SYSTEMATIC APPROACH TO MANAGEMENT

A Way of Keeping Score

(1)

A Barometer of Outcomes

(1)

What Is Accounting?

(1)

What Is Finance?

(1)

Four Underlying Principles of Accounting and Finance

(1)

Who Uses Accounting and Finance Information?

(3)

What Is Accounting?

Accounting Records Information

(1)

Public and Private Accounting

(1)

Career Paths For Accounting Professionals

(1)

Specialized Fields in Accounting

(3)

Certifications

(2)

The Rules Of Accounting

Who Governs Accounting?

(1)

How Accounting Rules Originated

(1)

Creating Consistency

(1)

The Accounting Principles Board (APB)

(1)

Weaknesses of the System

(1)

The Birth of FASB

(6)

Accounting Tools

Tools of Accounting

(1)

Accounting Formats

(2)

The Basic Accounting Model

(1)

Debits and Credits

(3)

Double-Entry Bookkeeping

(1)

Accounts

(3)

Recording Accounting Transactions

(2)

T-Accounts

(1)

Basic Financial Statements: The Key to Understanding a Company's Position

(5)

The Annual Report

(1)

Some Key Terms

(3)

Assets

Tangible and Intangible Assets

(1)

Liquid Assets

(1)

Current Assets

(1)

Cash and Cash Equivalents

(7)

Short-Term Investments

(1)

Accounts Receivable

(8)

Inventories

Classifications of Inventory

(1)

What to Include in Inventory

(1)

Capitalizing Costs

(1)

Putting Inventory Costs on the P&L

(3)

How to Determine Inventory

(2)

Accounting for Inventory

(1)

Inventory Methods

(3)

Lower of Cost or Market (LCM)

(2)

Net Realizable Value

(2)

Long-Term Assets

Property, Plant, and Equipment (PPE)

(1)

Depreciable and Nondepreciable Assets

(3)

Gifts and Bartering

(1)

Other Related Expenditures

(1)

Depreciation

(10)

Intangible Assets

Goodwill

(1)

Legal Rights or Privileges

(3)

Leaseholds

(1)

Prepaid Expenses

(1)

Organization Costs

(1)

Deferred Charges

(1)

Special Expenses

(1)

Amortization

(1)

Assets You Won't Find on the Balance Sheet

(4)

Liabilities

Current Liabilities

103

(7)

Long-Term Liabilities

110

(27)

Equity

What Is Capital Stock?

137

(1)

Common Stock

138

(2)

Preferred Stock

140

(2)

Treasury Stock

142

(1)

Paid-In Capital

143

(1)

Retained Earnings

143

(1)

Some Key Terms

144

(4)

Statement Of Income

Revenues

148

(2)

Expenses

150

(1)

Cost of Goods Sold

150

(1)

Cost of Goods Manufactured

151

(5)

Gross Profit

156

(1)

General and Administrative Expenses

156

(2)

Net Income Before Interest and Tax

158

(1)

Other Income and Other Expenses

158

(1)

Income Taxes

158

(1)

Extraordinary Items

159

(1)

Net Income

160

(1)

Earnings Per Share

161

(2)

Other Information About the P&L

163

(1)

Comprehensive Income

164

(1)

Financial Reporting

Management Reporting

165

(1)

Market Reporting

166

(1)

The Securities and Exchange Commission (SEC)

166

(2)

The Annual Report

168

(3)

Investor Relations

171

(1)

Stockholders Meetings

171

(1)

Ongoing Communication

172

(3)

Finance

What Is Finance?

175

(1)

Why Is Finance Important?

175

(2)

How Finance Relates to Accounting

177

(1)

Career Paths for Finance Professionals

177

(2)

Certifications

179

(2)

Finance Tools

Planning Encompasses Many Factors

181

(1)

Forecasting

182

(1)

Budgeting

183

(1)

Long-Range Planning

184

(1)

Financial Models

185

(1)

Statistical Analysis

186

(1)

Cost of Capital

186

(1)

Financial Ratios

186

(1)

Time Value of Money

187

(2)

Financial Statement Ratios

What Is a Ratio?

189

(3)

Categories of Frequently Used Ratios

192

(8)

Considering All Factors

200

(4)

Time Value Of Money

Inflation

204

(2)

Interest Rates

206

(2)

Compounding

208

(1)

Risk

209

(3)

TVM Formulas

212

(15)

Capital And Project Budgeting

A Scientific Approach

227

(1)

Three Essential Considerations

227

(3)

Capital Budgeting Techniques

230

(22)

To Lease or Not to Lease, That Is the Question!

252

(5)

Responsibilities of Nonfinancial Managers

P&L Review

257

(2)

Steps to Easy Budgeting

259

(3)

Forecasting

262

(3)

Managing Costs

265

(6)

Managing Payroll and Related Expenses

271

(1)

Accruals and Prepaid Expenses

271

(2)

Payroll Concerns

Federal Wages and Hours Law (Fair Labor Standards Act)

273

(1)

The Difference Between Wages and Salaries

274

(1)

Employer Payroll Requirements

274

(2)

Union Requirements

276

(1)

Payroll Taxes and Deductions

276

(4)

Social Security Benefits

280

(2)

Other Employee Compensation

282

(6)

Employee Compensation And Benefits

Social Security

288

(1)

Employer-Related Compensation and Benefits

289

(1)

Employee Retirement Income Security Act (ERISA)

290

(1)

Health Benefits

290

(1)

Retirement Plans

290

(3)

Employee Stock Ownership Plans (ESOPs)

293

(1)

Stock Purchases Plans

294

(1)

Rollovers

294

(1)

Perquisites (Perks)

295

(1)

Reporting

295

(1)

Retirement Plans for the Self-Employed

296

(3)

Business Ownership And Organization

Types of Business Organization

299

(10)

Other Information

309

(4)

Types Of Investment

Types of Payback

313

(3)

Investment Strategies

316

(1)

Factors in Selecting an Investment

317

(1)

Portfolios

318

(1)

Stocks

318

(2)

Commodities

320

(1)

Bonds

320

(4)

Options (or Derivatives)

324

(2)

Money Markets

326

(1)

Investment Funds

326

(3)

Index Shares or Exchange-Traded Funds

329

(2)

Stock Exchanges And Rating Agencies

Stock Markets

331

(1)

How Stock Exchanges Work

331

(1)

Market Security

331

(1)

Trading Times

332

(1)

Stock Exchange Membership

332

(2)

Stock Listings

334

(1)

Rating Agencies

335

(1)

Industry Designations

335

(1)

Following the Markets

336

(1)

Trading

People Who Trade Securities

337

(1)

Online or E-Trading

338

(1)

Day Trading

339

(1)

Institutional Buyers

339

(1)

Investment Clubs

340

(1)

Buying and Selling Stock

340

(3)

Ways to Pay for Securities

343

(2)

Market Measurements

Bulls and Bears

345

(1)

Stock Indexes

345

(2)

Market Ratios

347

(1)

When Is a Stock Overpriced?

348

(1)

Risk Measurements

349

(1)

Market Investment Assumptions

350

(1)

Fund Managers and the Efficient Market

351

(1)

Evaluating Stock

351

(3)

International Finance

International Finance Terminology

354

(1)

International Monetary Fund

354

(2)

World Bank

356

(2)

Foreign Exchange

358

(5)

International Trade

363

(5)

Reporting International Operations in U.S. Financial Statements

368

(1)

Other International Information

368

(5)

Federal Reserve System

Purpose

373

(1)

Organization and Governing Body

374

(5)

Glossary

379

(28)

Appendix (Charts)

407

(30)

Bibliography

437

(6)

Index

443

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The Practical Guide to Finance and Accounting

Summary

Table of Contents

Supplemental Materials