Download e-book for iPad: Accounting All-in-One For Dummies by Kenneth Boyd

By Kenneth Boyd

ISBN-10: 1118813650

ISBN-13: 9781118813652

A one-stop accounting reference

Packed with important info culled from the broad For Dummies accounting, bookkeeping, and auditing libraries, Accounting All-in-One For Dummies is a robust, one-stop reference.

Accounting All-in-One For Dummies is a finished source on numerous accounting techniques. you will get up to the mark on: establishing your accounting procedure; recording accounting transactions; adjusting and shutting entries; getting ready source of revenue statements and stability sheets; making plans and budgeting on your company; dealing with funds and making buy judgements; and more.

  • Ways to document in your monetary statements
  • How to make savvy company decisions
  • Auditing and detecting monetary fraud

    Accounting All-in-One For Dummies is a one-stop reference for college kids learning the appliance of accounting theories and a worthy table reference for accounting pros within the group.

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    Extra resources for Accounting All-in-One For Dummies

    Sample text

    Examples of typical business transactions include paying employees, making sales to customers, borrowing money from the bank, and buying products that will be sold to customers. The bookkeeping process begins by determining the relevant information about each transaction. The chief accountant of the business establishes the rules and methods for measuring the financial effects of transactions. Of course, the bookkeeper should comply with these rules and methods. Make original entries of financial effects in journals, with appropriate references to source documents.

    Understanding Double-Entry Accounting All businesses, whether they use the cash-basis or accrual accounting method (see Chapter 4), use double-entry accounting — a practice that helps minimize errors and increase the chance that your books balance. Double-entry accounting doesn't mean you enter all transactions twice; it means that you enter both sides of the transaction, debiting one account and crediting another.

    The accountant takes the adjusted trial balance and combines similar accounts into one summary amount that is reported in a financial report or tax return. For example, a business may keep hundreds of separate inventory accounts, every one of which is listed in the adjusted trial balance. The accountant collapses all these accounts into one summary inventory account presented in the balance sheet of the business. In grouping the accounts, the accountant should comply with established financial reporting standards and income tax requirements.

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    Accounting All-in-One For Dummies by Kenneth Boyd

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