Accounting for Non-Accountants, 3E: The Fast and Easy Way to by Wayne Label

By Wayne Label

A fast, 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 type, 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 watch over your individual resources, you will find every thing you must know:

•How to organize and use monetary statements
•How to regulate funds flows
•How to control budgets
•How to exploit accounting ratios to
•How to house audits and auditors interpret monetary statements

Let this ebook assist you love it helped those readers:

"Dr. Labels causes are basic and simple. "
"This can assist me much as I arrange my very own enterprise. "
"I have labored in accounting for over twenty-five years, and this is often the simplest publication i've got noticeable to aid individuals with the fundamentals of accounting."

For marketers or somebody who must brush up on accounting speedy, this booklet could have you up and working in no time.

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Additional resources for Accounting for Non-Accountants, 3E: The Fast and Easy Way to Learn the Basics

Example text

This will be the topic of chapter 11. Verifiable Information The need for verifiable information does not preclude the use of estimates and approximation. If you were to eliminate all estimates from accounting, the resulting statements would not be useful primarily because the statements would not provide sufficient information. ” They must be based on sufficient evidence to make the resulting statements a reliable basis for evaluating the firm and its management. One example of a place in the financial statements where we estimate the value is with depreciation.

The Solana Beach Bicycle Company is a small business that makes, repairs, and sells bicycles. The company was started by Samantha Fernandez in January 2013. Sam (as all of her friends call her) has been an avid bike rider for many years and always felt she could build a “better mouse trap” or bicycle, that is. Sam invested some money she had saved and some that she had inherited into her business. 2. This is a proprietorship, because Samantha is the sole owner of the company. The Balance Sheet would look a little different for a corporation.

Intangible Assets Intangible Assets are Assets that cannot be physically touched. They must still meet the three tests mentioned earlier in order to be listed on the Balance Sheet as an Asset; however, they do not have any tangible characteristics. Some examples of intangible Assets include trademarks, copyrights, and patents, as long as they have been purchased from the prior owner of the business. You might be inclined to call goodwill an intangible Asset; goodwill is based on location of the business, reputation of the owners, and name recognition by the public, and is of great value to a business.

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