By Kenneth Boyd
A one-stop accounting reference
Packed with important details culled from the vast For Dummies accounting, bookkeeping, and auditing libraries, Accounting All-in-One For Dummies is a strong, one-stop reference.
Accounting All-in-One For Dummies is a complete source on a number of accounting strategies. you will get up to the mark on: developing your accounting approach; recording accounting transactions; adjusting and shutting entries; getting ready source of revenue statements and stability sheets; making plans and budgeting in your company; dealing with money and making buy judgements; and more.
Accounting All-in-One For Dummies is a one-stop reference for college students learning the applying of accounting theories and a precious table reference for accounting execs within the group.
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Additional resources for Accounting All-in-One For Dummies
Most businesses need accounting reports and financial statements at the end of each quarter, and many need monthly financial statements. Before the accounting reports can be prepared at the end of the period (see Figure 1-1), the bookkeeper needs to bring the accounts up to date and complete the bookkeeping process. One such end-of-period requirement, for example, is recording the depreciation expense for the period (see Book III, Chapter 1 for more on depreciation). The accountant needs to be heavily involved in end-of-period procedures and be sure to check for errors in the business's accounts.
Keeping the books of a business can be a lot more difficult than maintaining a personal checkbook. You have to carefully record each business transaction to make sure that it goes into the right account. This careful bookkeeping gives you an effective tool for figuring out how well the business is doing financially. You need a road map to help you determine where to record all those transactions. This road map is called the chart of accounts. This chapter introduces you to the chart of accounts and explains how to set up your chart of accounts.
And if you're in charge of preventing and detecting incidents of fraud, check out the chapters in Book IX. com for free content that helps you learn more and do more. In this book… Wrap your brain around bookkeeping and accounting fundamentals. These basic concepts allow you to correctly post accounting transactions. Create a chart of accounts, so you can track debits and credits by using double-entry accounting. Every type of accounting transaction uses some combination of accounts. Maintain financial journals and the general ledger and use accounting software to simplify these tasks.
Accounting All-in-One For Dummies by Kenneth Boyd