Accounting For Dummies, 4th edition by John A., CPA Tracy PDF

By John A., CPA Tracy

ISBN-10: 0470246006

ISBN-13: 9780470246009

ISBN-10: 047039269X

ISBN-13: 9780470392690

Examine the fundamentals of useful accounting simply and painlessly with Accounting For Dummies, 4th version, which positive aspects new info on accounting tools and criteria to maintain you brand new. With this advisor, you could steer clear of accounting fraud, reduce confusion, maximize gains, and make feel of accounting fundamentals with this plain-English advisor in your accountant’s language. know how to control stock, document source of revenue and expenditures for public or deepest businesses, overview revenue margins, study enterprise strengths and weaknesses, and deal with budgets for a greater base line.

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Extra resources for Accounting For Dummies, 4th edition

Example text

The accounting department Chapter 1: Accounting: The Language of Business, Investing, Finance, and Taxes also keeps detailed records on all products held for sale by the business and, when the products are sold, records the cost of the goods sold. ߜ Property accounting: A typical business owns many different substantial long-term assets called property, plant, and equipment — including office furniture and equipment, retail display cabinets, computers, machinery and tools, vehicles (autos and trucks), buildings, and land.

Of course the financial information base should be complete, accurate, and timely. Every recordkeeping system needs quality controls built into it, which are called internal controls or internal accounting controls. Accountants design the internal controls for the bookkeeping system, which serve to minimize errors in recording the large number of activities that an entity engages in over the period. The internal controls that accountants design are also relied on to detect and deter theft, embezzlement, fraud, and dishonest behavior of all kinds.

As you go through life, you come face to face with accounting information more than you would ever imagine. Regretfully, much of this information is not selfexplanatory or intuitive, and it does not come with a user’s manual. Accounting information is presented on the assumption that you have a basic familiarity with the vocabulary of accounting and the accounting methods used to generate the information. In short, most of the accounting information you encounter is not transparent. The main reason for studying accounting is to learn its vocabulary and valuation methods, so you can make more intelligent use of the information.

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Accounting For Dummies, 4th edition by John A., CPA Tracy


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