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

By Wayne Label

ISBN-10: 1402273045

ISBN-13: 9781402273049

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 through accounting jargon, and feature no clue approximately stability sheets, source of revenue statements, or statements of money flows.

Whether you personal a company, plan on beginning one, or simply are looking to keep watch over your personal resources, you'll locate every thing you must know:

•How to arrange and use monetary statements
•How to manage 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 factors are uncomplicated and easy. "
"This might help me much as I organize my very own enterprise. "
"I have labored in accounting for over twenty-five years, and this can be the simplest publication i've got noticeable to assist individuals with the fundamentals of accounting."

For marketers or an individual who must brush up on accounting quick, this booklet could have you up and operating 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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Additional info for Accounting for Non-Accountants: The Fast and Easy Way to Learn the Basics (3rd Edition)

Sample text

Because of the large amount of resources required to operate a manufacturing business, most manufacturers such as Ford Motor Company are corporations. Most large retailers such as Walmart and Home Depot are also corporations. Cost Concept Under the cost concept, amounts are initially recorded in the accounting records at their cost or purchase price. To illustrate, assume that Aaron Publishers purchased the following building on February 20, 2012, for $150,000: Price listed by seller on January 1, 2012 Aaron Publishers’ initial offer to buy on January 31, 2012 Purchase price on February 20, 2012 Estimated selling price on December 31, 2014 Assessed value for property taxes, December 31, 2014 $160,000 140,000 150,000 220,000 190,000 Under the cost concept, Aaron Publishers records the purchase of the building on February 20, 2012, at the purchase price of $150,000.

The unit of measure concept requires that economic data be recorded in dollars. Money is a common unit of measurement for reporting financial data and reports. Example Exercise 1-1 Cost Concept On August 25, Gallatin Repair Service extended an offer of $125,000 for land that had been priced for sale at $150,000. On September 3, Gallatin Repair Service accepted the seller’s counteroffer of $137,000. On October 20, the land was assessed at a value of $98,000 for property tax purposes. On December 4, Gallatin Repair Service was offered $160,000 for the land by a national retail chain.

Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. –275 14 Chapter 1 Introduction to Accounting and Business Assets 5 Liabilities 1 Cash + Supp. + Land a. +25,000 b. –20,000 +20,000 Bal. 5,000 20,000 c. +1,350 Bal. 5,000 +1,350 20,000 d. +7,500 Bal. 12,500 1,350 20,000 e. –3,650 Bal. 8,850 1,350 20,000 f. –950 Bal.

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

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