Accounting Demystified

Accounting Demystified

Accounting Demystified

Accounting Demystified

Synopsis

"Accounting is truly the language of business. Success or failure is measured in dollars, but in order to make good decisions, you need to understand how finances drive business realities and become fluent in the essential elements of the accounting process.

ACCOUNTING DEMYSTIFIED tells you all you need to know about the numbers that drive business. The book uses examples of typical business situations to demonstrate basic financial concepts, including:

- The accounting process

- Financial statements

- Making entries

- Accounts payable and accounts receivable

- Cashflow statements

- Fixed and intangible assets

- Inventory

- Liabilities

- Adjusting and closing entries

- Prepaid expenses

-Preparing a bank reconciliation

- Accounting information systems

- Stockholders equity

- Ratio analysis

ACCOUNTING DEMYSTIFIED transforms a complex and potentially intimidating subject into something anyone can easily comprehend. This useful resource helps you understand the basics of accounting and gives you access to an essential part of any business equation.

For new students of accounting, entry-level accounting professionals, and business professionals whose own work relates directly to the numbers on the ledger, a basic understanding of core accounting functions and documents is critical. Accounting Demystified provides a simple and straightforward description of universal elements of the accounting process, plus accessible tutorials in creating, interpreting, and using financial statements. Haber's clear language will let readers:

- understand accounting basics

- find errors quickly

- prepare accurate financial statements

- analyze financial documents

- determine the financial health of a business

- prepare a financial prospectus for potential investors and lenders

From the classroom to the back room to the board room, Accounting Demystified serves as a valuable primer on the basics of accounting and the purposes they serve."

Excerpt

The success or failure of a business is measured in dollars. and dollars are recorded and reported using accounting. Accounting is truly the language of business. No matter what your role may be, if you are involved in business, you can benefit from learning accounting. That's what this book is all about—taking the subject and making it understandable and accessible.

This book makes an excellent companion to any standard text, or it can be used as a stand-alone volume. It is designed to present the subject in a straightforward, approachable manner. Financial accounting is an incremental process. What you learn in earlier chapters is used in later ones. There are no shortcuts to learning financial accounting, but at the same time, if it is taught clearly, it is not difficult.

Financial accounting involves all the steps from the original entries in the accounting records to the preparation of financial statements. There are other types of accounting as well, such as managerial accounting, cost accounting, and tax . . .

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