By Mike Piper
Locate the entire following defined in Plain-English without technical jargon:
The Accounting Equation and why it's so significant
How to learn and get ready monetary statements
How to calculate and interpret a number of varied monetary ratios
The techniques and assumptions in the back of normally approved Accounting rules (GAAP)
Preparing magazine entries with debits and credits
Cash technique vs. accrual method
Inventory and value of products Sold
How to calculate depreciation and amortization bills
Read or Download Accounting Made Simple: Accounting Explained in 100 Pages or Less PDF
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Extra resources for Accounting Made Simple: Accounting Explained in 100 Pages or Less
In this sense, merchandisers bring products and customers together. Examples of merchandising businesses and some of the products they sell are shown below. com General merchandise Toys Books Consumer electronics Books 1 A glossary of terms appears at the end of each chapter in the text. Chapter 1 The Role of Accounting in Business Service businesses provide services rather than products to customers. Examples of service businesses and the types of services they offer are shown below. Service Business Service Disney Delta Air Lines Marriott Merrill Lynch Google Entertainment Transportation Hospitality and lodging Financial Internet search Forms of Business A business is normally organized as one of three different forms: proprietorship, partnership, corporation, or limited liability company.
Warren is Professor Emeritus of Accounting at the University of Georgia, Athens. For over twenty-five years, Professor Warren taught all levels of accounting classes. In recent years, Professor Warren focused his teaching efforts on principles of accounting and auditing courses. Professor Warren has taught classes at the University of Iowa, Michigan State University University of Chicago, and the University of Georgia. ) degrees from the University of Iowa. During his career, Professor Warren published numerous articles in professional journals, including The Accounting Review, Journal of Accounting Research, Journal of Accountancy, The CPA Journal, and Auditing: A Journal of Practice & Theory.
This is known in accounting as the matching concept. We will further discuss this concept later in this chapter. When revenues exceed expenses for a period, the business has net income. If expenses exceed revenues, the business has a net loss. Reporting net income means that the business increased its net assets through its operations. ” 16 Chapter 1 Q. For 2004, General Motors reported net sales of $193,517 million and net income of $2,805 million. What were General Motors’ total expenses for 2004?
Accounting Made Simple: Accounting Explained in 100 Pages or Less by Mike Piper