Accounting 101
Accounting 101 shows you why accounting is at the center of running a business and key to managing investments. It will guide you through the basics with key terminology and essential skills—without putting you to sleep. You'll learn to put together a balance sheet, identify liabilities, and calculate your cash flow, as well as many other essential accounting skills. Whether you're interested in accounting for yourself, your business, or as a high-paying, in-demand career, Accounting 101 has the answers to all your questions—even the ones you didn't think to ask.
Accounting 101 is a quick and easy guide to help you learn the basics of accounting by teaching you how to negotiate a deal, oversee staff and monitor your expenses.
This bestselling series is packed with hundreds of entertaining tidbits and concepts that can’t be found anywhere else.
Whether you're a new business owner, a manager, or entry-level employee, this series has the answers you need to conduct business more efficiently.
Table of Contents
Introduction
Chapter 1: The Business of Accounting
Who Uses Accounting Information?
Accounting is More than Numbers
Ancient Accounting
Modern Accounting
Accounting Rules
Tracking and Measuring Success
How Accountants Can Help You
Chapter 2: Who's Who in Accounting
CPAs are Licensed
The AICPA
Bookkeeping Versus Accounting
Entertainment Accountants
Forensic Accountants
Anti-Money Laundering Specialists
CFOS Steer Corporations
Tax Accountants
Environmental Accountants
Choosing the Right Professional
Chapter 3: Setting the Framework
Accounting Starts with Accounts
How the Accounts Connect
Debits and Credits
What Counts as a Transaction
The Accounting Cycle
Accounting and Organization
Chapter 4: Assets, Liabilities, and Equity
The Accounting Equation
What are Assets?
Breaking Down Asset Categories
A Closer Look at Current Assets
The Importance of Cash
A Closer Look at Fixed Assets
Current Liabilities
Long-Term Liabilities
Chapter 5: Revenues, Costs, and Expenses
Revenues
The Cost-Inventory Connection
Expenses
Depreciation
People and Payroll
Earning Profits, But Out of Cash
Chapter 6: Financial Statements
The Statement of Profit and Loss
The Balance Sheet
The Statement of Cash Flows
What Financial Statements Tell You
Financial Statements Flow into Tax Returns
How These Statements Interconnect
Chapter 7: Accounting Moves Forward
The Big Accounting Firms
Scandals in the Accounting World
Big Changes in the Industry
Accounting Apps
Accounting in the Cloud
Tomorrow's Accounting