Accounting for Non-Accountants: The Fast and Easy Way to by Wayne Label PDF

By Wayne Label

A quickly, Compact, and Easy-to-Understand source for Non-Accountants

Accounting for Non-Accountants is the must-have consultant for we all who've by no means taken an accounting category, are mystified by way of accounting jargon, and feature no clue approximately stability sheets, source of revenue statements, or statements of money flows.

Whether you personal a enterprise, plan on beginning one, or simply are looking to keep an eye on your individual resources, you'll locate every little thing you want to know:

•How to arrange and use monetary statements
•How to manage funds flows
•How to control budgets
•How to take advantage of accounting ratios to
•How to accommodate audits and auditors interpret monetary statements

Let this publication assist you love it helped those readers:

"Dr. Labels factors are uncomplicated and easy. "
"This might help me much as I arrange my very own enterprise. "
"I have labored in accounting for over twenty-five years, and this can be the simplest publication i've got visible to aid individuals with the fundamentals of accounting."

For marketers or an individual who must brush up on accounting quick, this booklet may have you up and working in no time.

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Read Online or Download Accounting for Non-Accountants: The Fast and Easy Way to Learn the Basics (3rd Edition) PDF

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Extra info for Accounting for Non-Accountants: The Fast and Easy Way to Learn the Basics (3rd Edition)

Sample text

In general, all parties interested in the financial health of a company are called stakeholders. Stakeholder users of accounting information are normally divided into two major classifications: Statement of the Accounting Principles Board No. 4, “Basic Concepts and Accounting Principles Underlying Financial Statements of Business Enterprises” (New York: American Institute of Certified Public Accountants, 1970), par. 40. Financial Reporting EXHIBIT 1-2 Chapter 1 Major Internal and External Stakeholder Groups Investors Community Government Board of Directors Analysts Management Suppliers Employees Customers Employees Creditors • Internal users, who make decisions directly affecting the internal operations of the enterprise • External users, who make decisions concerning their relationship to the enterprise Major internal and external stakeholder groups are listed in Exhibit 1-2.

Obviously, there is a motivation on the part of management to present the financial information in the most favorable manner possible. It is the responsibility of the auditors to review management’s reports and to independently decide whether the reports are indeed representative of the actual conditions existing within the enterprise. The auditor’s opinion adds credibility to the financial statements. The types of opinions issued by auditors, along with their relative frequencies, are outlined in Exhibit 1-3.

As a result, the SEC is vitally interested in financial reporting and the development of accounting standards. The Commission carefully monitors the standard-setting process. The Commission also brings to the Board’s attention emerging problems that need to be addressed and sends observers to meet with the EITF. When the Commission was formed, Congress gave it power to establish accounting principles as follows: fyi The Commission may prescribe, in regard to reports made pursuant to this title, the form or forms in which the required information shall be set forth, the items or details to be shown in the balance sheet and the earning statement, and the methods to be followed in the preparation of reports in the appraisal or valuation of assets and liabilities.

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