By Wayne Label
A speedy, 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 regulate your individual resources, you'll locate every little thing you must know:
•How to arrange and use monetary statements
•How to regulate funds flows
•How to control budgets
•How to take advantage of accounting ratios to
•How to house audits and auditors interpret monetary statements
Let this booklet assist you love it helped those readers:
"Dr. Labels reasons are easy and easy. "
"This may help me much as I manage my very own enterprise. "
"I have labored in accounting for over twenty-five years, and this can be the easiest booklet i've got noticeable to aid individuals with the fundamentals of accounting."
For marketers or an individual who must brush up on accounting quickly, this publication can have you up and operating in no time.
Read Online or Download Accounting for Non-Accountants: The Fast and Easy Way to Learn the Basics (3rd Edition) PDF
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Additional resources for Accounting for Non-Accountants: The Fast and Easy Way to Learn the Basics (3rd Edition)
There are some companies that have different classes of common stock with different numbers of votes per share. This explains why some families or individuals can control very large corporations even though they actually own a small minority of the shares. 21. Retained Earnings, $1,357,000 When the company achieves a profit in a given year, the owners are entitled to remove those funds from the company for their personal use. It is their money. However, the decision to distribute profits to the shareholders in the form of dividends is made by the board of directors (representing the owners), usually on a quarterly basis.
It has little, if any, analytical significance. 11. Total Assets, $3,202,000 This is the sum total of current assets, the net book value of fixed assets and investments, and any other assets that the company may own. Important Accounting Concepts Affecting the Balance Sheet Accounting for Fixed Assets Suppose a company makes a capital expenditure of $100,000 for a fixed asset that is expected to last five years. The presentation of this in the financial statements would be as follows: 34 UNDERSTANDING FINANCIAL INFORMATION Income Statement (annual expense) Balance Sheet Year 1 Gross Book Value Accumulated Depreciation Net Book Value Year 2 Gross Book Value Accumulated Depreciation Net Book Value $100,000 (20,000) Depreciation Expense $20,000 Depreciation Expense $20,000 $ 80,000 $100,000 (40,000) $ 60,000 The gross book value on the balance sheet will be $100,000.
Revenue is the amount of money that the company has earned by providing products and services to its customers. Sometimes cash is received before revenue is earned, as when a customer makes a down payment. Retail stores usually receive their cash when they earn the revenue. For credit card sales, including PayPal and Apple iPay, this is usually the next day. Most other corporations receive their cash after they earn their revenue, resulting in accounts receivable. A further word about revenue. It is not uncommon in certain businesses for the company to receive some advanced payment.
Accounting for Non-Accountants: The Fast and Easy Way to Learn the Basics (3rd Edition) by Wayne Label