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The Handy Accounting Answer Book

ebook
1 of 2 copies available
1 of 2 copies available
An informative, easy-to-use guide to accounting fundamentals and concepts
Everyone needs to budget money and manage costs, whether for groceries and everyday purchases, rent or mortgage, education, retirement, or even a business. Like it or not, accounting infuses most everything in life. From credits, debits, and basic bookkeeping to getting the most out of tax deductions and from reading or creating a business' financial statement to better understanding accounting lingo, The Handy Accounting Answer Book can help anyone acquire the skills to start or run a business, plan for retirement, set money aside for a big purchase, establish everyday budgets, and improve their money management.

Find out about the concepts and assumptions behind the Generally Accepted Accounting Principles. Understand tax returns and maximize write-off. Manage retirement account statements and find ways to improve their results. Learn how to create a business plan. Learn about a business' financial ratios, cost of goods, depreciation, tax planning, recognizing revenue and expenses, financial audits, year-end closing the books, and other terms and rules. Maximize profits and improve personal or business bottom lines.

Covering accounting fundamentals, concepts, and jargon, The Handy Accounting Answer Book is for everyone who wants to understand the language of money and business. It uses basic terms and simple examples to illustrate complex accounting topics and can help you make better decisions about your business or personal finances. This handy primer answers nearly 800 questions and offers fun facts covering the basics of accounting, including ...

  • What is the earliest known form of accounting?
  • What are the elements of financial statements?
  • When is revenue recognized?
  • What is accrual basis accounting?
  • How does an accountant determine which asset account titles to use?
  • What is goodwill?
  • How many different types of financial statements are there?
  • What is the basic accounting equation?
  • How is operating income different from net income?
  • How do you know if a company is doing well?
  • What is the quick ratio?
  • How is earnings per share evaluated?
  • What is a journal entry?
  • What is a purchase order?
  • What is the fraud triangle?
  • How is depreciation expense calculated and recorded?
  • What is a franchise?
  • What are the employer payroll taxes?
  • What is indirect labor?
  • How is a budget prepared?
  • What is a revenue variance?
  • What is contribution margin?
  • What is the time value of money?
  • What is one of the first things that must be done when starting a small business?
  • What are some of the key components of a business plan?
  • Can a business be successful if it doesn't make a profit?
  • What is a CPA?
  • What happened at Enron?

    For anyone planning for a business, retirement, college, or life in general, this informative book also includes a glossary of commonly used terms to cut through the jargon, a helpful bibliography, appendices providing examples of accountancy practices, and an extensive index, adding to its usefulness. It will help anyone's financial intelligence!

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      • Library Journal

        July 1, 2019

        This accessible guide to personal and business accounting feels like an introductory textbook but is organized well as a reference guide for anyone baffled by the subject. Gray (accounting, Adrian Coll., MI) guides readers through simple and complex topics in a logical order. She starts with bookkeeping basics, then dives into specific issues, cost accounting, budgeting, and managerial accounting. Helpful examples and illustrations, many using real companies, offer context and illustrate intricate concepts in plain language. From a simple, one-sentence explanation of each concept, Gray delves further into accounting for specific scenarios. The book covers basic and managerial accounting and budgeting; additional chapters tackle small business basics, fraud prevention, and the current and future landscape of the profession. Appendixes provide a deeper look at journaling, statements, and annual reports. VERDICT Anyone interested in learning more about personal or corporate accounting will find useful information here.--Jennifer Clifton, Indiana State Lib., Indianapolis

        Copyright 2019 Library Journal, LLC Used with permission.

      • Booklist

        September 1, 2019
        This concise overview of financial and managerial accounting presents topics in Q&A format beginning with general background about the history of accounting and professional guidelines. Several chapters are dedicated to financial and managerial (cost) accounting, and the book concludes with information about starting a small business along with projections about the future of the accounting profession. Four appendixes present additional examples of journal entries and standard financial statements. Overall, the book is well written and easy to understand. Challenging concepts such as revenue recognition, depreciation, and cost-volume-profit analysis are explained in broad but understandable terms, though a reader seeking comprehensive treatment of these concepts would need to consult additional resources. The book also does not address tax accounting in any meaningful way. Comparable in both content and price to Accounting for Dummies (2016), this book would be useful to a reader with little to no accounting knowledge, making it a good choice for circulating collections in public libraries.(Reprinted with permission of Booklist, copyright 2019, American Library Association.)

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    • English

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