Download Accounting for Non-Accountants, 2E: The Fast and Easy Way to by Wayne Label PDF

By Wayne Label

A short, Compact, and Easy-to comprehend source for Non-Accountants Accounting for Non-Accountants is the must-have consultant for we all who've by no means taken an accounting classification, are mystified by way of accounting jargon, and feature no clue approximately stability sheets, source of revenue statements, or statements of money flows. no matter if you personal a enterprise, plan on beginning one, or simply are looking to keep an eye on your personal resources, you can find every thing you must understand: how you can arrange and use monetary statements the right way to deal with budgets easy methods to care for audits and auditors tips to keep watch over funds flows find out how to use accounting ratios to interpret monetary statements For marketers or a person who must rush up on accounting speedy, this ebook can have you up and working very quickly. "A certain must-have for any enterprise owner!" —Julie A. Aydlott, CFE, writer of the fast consultant to Small enterprise Budgeting "A good selection for somebody who's discovering accounting tricky to understand." —Dr. Richard A. Samuelson, emeritus professor of accounting, San Diego country collage  

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An example of obtainable information is the number of shares sold by the corporation during the year. Another example would be the amount of sales by the business during the year. An example of information that might not be considered obtainable would be the nitty-gritty details of the pension plan systems used in each of the subsidiaries of a multinational corporation. A more reasonable and easily obtainable piece of data might be the total amount of money that is being spent on the company’s pensions around the world.

8,000 Owner’s Investment . $60,000 39 Building . . . . . 25,000 Land . . . . . . 10,000 Total Long-Term Assets . . . . . $43,000 Total Assets . . . $80,000 Total Liabilities and Owner’s Equity . 7 the only change in the Balance Sheet after the purchase of the insurance is that one Asset (cash) has been exchanged for another Asset (Prepaid Insurance, between Short- and Long-Term Assets) for the exact amount of $1,500. Sam Orders and Buys Bicycles (Short-Term Assets) On January 5, Sam orders and buys two different brands of bicycles from two different companies.

In the case of Solana Beach Bicycle Company, Inventory is the bicycles that the company intends to sell. Liabilities: Debts owed by a business. They can either be short-term or long-term depending upon when they become due. Short-Term Liabilities are to be paid within a year. Examples in the bicycle company are the Accounts Payable, and the current portion of the Mortgage Payable. Long-Term Liabilities extend beyond one year. The Balance Sheet and Its Components 43 An example in the bicycle company is the portion of the mortgage which is due to be paid beyond the current year.

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