By Leita Hart
Accounting details and information you could take to the bank!
You won't understand the very first thing approximately debits, credit, and money ratios now―but while you’re performed with this ebook, you’ll have the ability to juggle earnings and losses along with your eyes closed and browse any stability sheet like it’s a superb novel.
Accounting DeMySTiFieD, moment version, is a curriculum-based, self-teaching consultant that makes studying accounting more straightforward than 1-2-3. With graphs, plain-English causes, and real-life examples, it starts off with the fundamentals―such as easy monetary phrases, stability sheets, and funds circulate statements―and eases you into the extra advanced stuff, like adjusting entries, double access bookkeeping, revenue ratios, and liquidity.
Completely up to date and revised to hide finance phrases, theories, and most sensible practices, Accounting DeMySTiFieD teaches you the fine details of accounting very quickly at all.
This quickly and straightforward consultant features:
- A whole assessment of economic statements, GAAP principles, transactions, rate, budgets, and tax accounting
- Proven accounting insights, counsel, recommendations, and methods
- Chapter-ending perform workouts, quizzes, and ultimate examination to enhance your wisdom and chart development
- Tons of examples to teach how accounting works within the genuine world
Simple sufficient for a newbie yet tough sufficient for a extra complex scholar, Accounting DeMySTiFieD is your shortcut to mastery of this in a different way advanced subject.
Read or Download Accounting Demystified PDF
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Extra resources for Accounting Demystified
You prefer to make your own money and pay your own way. In this way, you are not beholden to anyone. This can be equated to retained earnings. qxp 7/18/2006 11:00 PM Page 20 20 PART ONE The Big Picture What Is Venture Capital? Venture capital is a contribution of money or resources by someone who believes your company will grow and prosper. Venture capital is usually structured in part like debt and in part like stock or equity. Venture capitalists may expect that you repay their contribution in periodic payments.
7 One Huge Database Now, back to this double-entry accounting system. How many transactions to you think a behemoth organization like IBM has per day? I don’t even know, but I know it’s plenty—tens of thousands, at least. All of these transactions are captured in a huge database. Every company has one; it is called the general ledger. This general ledger, like any database, has fields of information. And according to how detailed you want to get, it can have dozens of fields of information. Information the general ledger captures includes: • • • • • • • • • • date of transaction amount of transaction debit or credit account title and code budget code vendor purchase order number invoice number payment date payment method And the general ledger, just like any database, can be sorted just about any way you want.
Why? Remember: inventory is not as liquid as cash—and we love cash. Balance Sheet Assets Liabilities Cash Inventory Accounts Receivable Fixed Assets $20m $40m $30m $10m Total $100m What Does the Business Have? Accounts Payable Long-Term Debt Equity Stock Retained Earnings $10m $25m Total $100m Who Owns the Business? 8 Pie chart balance sheet (continued) On the other side of the balance sheet, we can do the same thing. Let’s say that long-term debt is $40 million, accounts payable is $25 million, stock is $10 million, and retained earnings is $25 million.