Your all-in-one accounting resource
If you’re a numbers person, it’s your lucky day! Accounting jobs are on the rise — in fact, the Bureau of Labor Statistics projects a faster-than-average growth rate of 11% in the industry through 2024. So, if you’re seeking long-term job security while also pursuing your passion, you’ll be stacking the odds in your favor by starting a career in accounting.
Accountants don’t necessarily lead a solitary life behind a desk in a bank. The field offers opportunities in auditing, budget analysis, financial accounting, management accounting, tax accounting, and more. In Accounting All-in-One For Dummies, you’ll benefit from cream-of-the-crop content culled from several previously published books. It’ll help you to flourish in whatever niche you want to conquer in the wonderful world of accounting. You’ll also get free access to a quiz for each section of the book online.
- Report on financial statements
- Make savvy business decisions
- Audit and detect financial fraud
- Handle cash and make purchasing decisions
- Get free access to topic quizzes online
If you’re a student studying the application of accounting theories or a professional looking for a valuable desktop reference you can trust, this book covers it all.
Introduction 1
Book 1: 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 2: Recording Accounting Transactions 55
Chapter 1: Keeping the Books 57
Chapter 2: Tracking Purchases 69
Chapter 3: Counting Your Sales 81
Chapter 4: Processing Employee Payroll and Benefits 93
Chapter 5: Computing and Reporting Payroll Taxes 113
Book 3: Adjusting and Closing Entries 125
Chapter 1: Depreciating Your Assets 127
Chapter 2: Paying and Collecting Interest 139
Chapter 3: Proving Out the Cash 149
Chapter 4: Reconciling Accounts and Closing Journal Entries 159
Chapter 5: Checking Your Accuracy 175
Chapter 6: Adjusting the Books 185
Book 4: Preparing Income Statements and Balance Sheets 197
Chapter 1: Brushing Up on Accounting Standards 199
Chapter 2: Preparing an Income Statement and Considering Profit 209
Chapter 3: Assessing the Balance Sheet’s Asset Section 227
Chapter 4: Digging for Debt in the Balance Sheet’s Liabilities Section 243
Chapter 5: Explaining Ownership in the Equity Section of the Balance Sheet 257
Chapter 6: Coupling the Income Statement and Balance Sheet 269
Book 5: Reporting on Your Financial Statements 283
Chapter 1: Presenting Financial Condition and Business Valuation 285
Chapter 2: Laying Out Cash Flows and Changes in Equity 295
Chapter 3: Analyzing Financial Statements 311
Chapter 4: Reading Explanatory Notes and Disclosures 327
Chapter 5: Studying the Report to the Shareholders 341
Book 6: Planning and Budgeting for Your Business 353
Chapter 1: Incorporating Your Business 355
Chapter 2: Choosing a Legal Structure for a Business 367
Chapter 3: Drawing Up a Business Plan to Secure Cash 379
Chapter 4: Budgeting for a Better Bottom Line 393
Chapter 5: Mastering and Flexing Your Budgeting 405
Chapter 6: Planning for Long-Term Obligations 417
Book 7: Making Savvy Business Decisions 429
Chapter 1: Estimating Costs with Job Costing 431
Chapter 2: Performing Activity-Based Costing 447
Chapter 3: Examining Contribution Margin 463
Chapter 4: Accounting for Change with Variance Analysis 479
Chapter 5: Making Smart Pricing Decisions 495
Chapter 6: Using Financial Formulas 505
Book 8: Handling Cash and Making Purchase Decisions 515
Chapter 1: Identifying Costs and Matching Costs with Revenue 517
Chapter 2: Exploring Inventory Cost Flow Assumptions 525
Chapter 3: Answering the Question: Should I Buy That? 537
Chapter 4: Knowing When to Use Debt to Finance Your Business 551
Chapter 5: Interpreting Your Financial Results as a Manager 565
Chapter 6: Handling the Financial End of a Business Sale 573
Book 9: Auditing and Detecting Financial Fraud 591
Chapter 1: Mulling Over Sarbanes-Oxley Regulation 593
Chapter 2: Preventing Cash Losses from Embezzlement and Fraud 607
Chapter 3: Assessing Audit Risk 621
Chapter 4: Collecting and Documenting Audit Evidence 645
Chapter 5: Auditing a Client’s Internal Controls 663
Chapter 6: Getting to Know the Most Common Fraud Schemes 685
Chapter 7: Cooked Books: Finding Financial Statement Fraud 693
Index 703
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