Efnisyfirlit

• Understanding Business Accounting For Dummies
• About the Authors
• Dedication
• Authors’ Acknowledgments
• Contents at a Glance
• Table of Contents
• Introduction
  • About This Book
  • Conventions Used in Financial Reports
  • Foolish Assumptions
  • How This Book Is Organised
    • Part I: Accounting Basics
    • Part II: Getting a Grip on Financial Statements
    • Part III: Accounting in Managing a Business
    • Part IV: Financial Reports in the Outside World
    • Part V: The Part of Tens
    • Part VI: Appendixes
  • Icons Used in This Book
  • Where to Go from Here
• Part I Accounting Basics
  • Chapter 1 Introducing Accounting to Non-Accountants
    • Accounting Everywhere You Look
    • The Basic Elements of Accounting
    • Accounting and Financial Reporting Standards
      • The emergence of international financial reporting standards (IFRS)
      • Why accounting rules are important
      • Income tax and accounting rules
      • Flexibility in accounting standards
    • Enforcing Accounting Rules
      • Protecting investors: Sarbanes-Oxley and beyond
    • The Accounting Department: What Goes On in the Back Office
    • Focusing on Business Transactions and Other Financial Events
    • Taking a Closer Look at Financial Statements
      • The balance sheet
      • The profit and loss account
      • The cash flow statement
    • Accounting as a Career
      • Chartered accountant (CA)
      • The financial controller: The chief accountant in an organisation
      • Accounting branches: Treasury, tax and audit
  • Chapter 2 Bookkeeping 101: From Shoe Boxes to Computers
    • Bookkeeping versus Accounting
    • Pedalling through the Bookkeeping Cycle
    • Managing the Bookkeeping and Accounting System
      • Categorise your financial information: The chart of accounts
      • Standardise source document forms and procedures
      • Don’t be penny-wise and pound-foolish: The need for competent, trained personnel
      • Protect the family jewels: Internal controls
      • Keep the scales in balance with double-entry accounting
      • Check your figures: End-of-period procedures checklist
      • Keep good records: Happy audit trails to you!
      • Look out for unusual events and developments
      • Design truly useful accounting reports for managers
    • Double-Entry Accounting for Non-Accountants
      • The two-sided nature of a business entity and its activities
      • Recording transactions using debits and credits
    • Making Sure the Books Don’t Get Cooked
  • Chapter 3 Taxes, Taxes and More Taxes
    • Taxing Wages and Property
      • Putting the government on the payroll: Employer taxes
      • Taxing everything you can put your hands on: Property taxes
      • Working from home
    • Getting to Grips with Value Added Tax
    • Taxing Your Bottom Line: Company Taxes
      • Different tax rates on different levels of business taxable income
      • Profit accounting and taxable income accounting
      • Deductible expenses
      • Non-deductible expenses
      • Equity capital disguised as debt
  • Chapter 4 Accounting and Your Personal Finances
    • The Accounting Vice You Can’t Escape
    • The Ins and Outs of Figuring Interest and Return on Investment (ROI)
      • Individuals as borrowers
      • Individuals as savers
      • Individuals as investors
    • An Accounting Template for Retirement Planning
• Part II Getting a Grip on Financial Statements
  • Chapter 5 Profit Mechanics
    • Swooping Profit into One Basic Equation
    • Measuring the Financial Effects of Profit-Making Activities
      • Preparing the balance sheet equation
    • Exploring the Profit-Making Process One Step at a Time
      • Making sales on credit
      • Depreciation expense
      • Unpaid expenses
      • Prepaid expenses
      • Stock (or Inventory) and cost of goods sold expense
    • So Where’s Your Hard-Earned Profit?
    • Reporting Profit to Managers and Investors: The Profit and Loss Account
      • Reporting normal, ongoing profit-making operations
      • Reporting unusual gains and losses
      • Putting the profit and loss account in perspective
  • Chapter 6 The Balance Sheet from the Profit and Loss Account Viewpoint
    • Coupling the Profit and Loss Account with the Balance Sheet
    • Sizing Up Assets and Liabilities
      • Sales revenue and debtors
      • Cost of goods sold expense and stock
      • SA&G expenses and the four balance sheet accounts that are connected with the expenses
      • Fixed assets and depreciation expense
      • Debt and interest expense
      • Income tax expense
      • The bottom line: net profit (net income) and cash dividends (if any)
    • Financing a Business: Owners’ Equity and Debt
    • Reporting Financial Condition: The Classified Balance Sheet
      • Current (short-term) assets
      • Current (short-term) liabilities
    • Costs and Other Balance Sheet Values
    • Growing Up
  • Chapter 7 Cash Flows and the Cash Flow Statement
    • The Three Types of Cash Flow
    • Setting the Stage: Changes in Balance Sheet Accounts
    • Getting at the Cash Increase from Profit
      • Computing cash flow from profit
      • Getting specific about changes in assets and liabilities
    • Presenting the Cash Flow Statement
      • A better alternative for reporting cash flow from profit?
    • Sailing through the Rest of the Cash Flow Statement
      • Investing activities
      • Financing activities
    • Free Cash Flow: What on Earth Does That Mean?
    • Scrutinising the Cash Flow Statement
  • Chapter 8 Getting a Financial Report Ready for Prime Time
    • Reviewing Vital Connections
    • Statement of Changes in Owners’ Equity and Comprehensive Income
    • Making Sure that Disclosure Is Adequate
      • Types of disclosures in financial reports
      • Footnotes: Nettlesome but needed
      • Other disclosures in financial reports
    • Keeping It Private versus Going Public
    • Nudging the Numbers
      • Fluffing up the cash balance by ‘window dressing’
      • Smoothing the rough edges off profit
      • Sticking to the accounting conventions
    • Browsing versus Reading Financial Reports
• Part III Accounting in Managinga Business
  • Chapter 9 Managing Profit Performance
    • Redesigning the External Profit and Loss Account
    • Basic Model for Management Profit and Loss Account
      • Variable versus fixed operating expenses
      • From operating profit (EBIT) to the bottom line
    • Travelling Two Trails to Profit
      • First path to profit: Contribution margin minus fixed expenses
      • Second path to profit: Excess over break-even volume × contribution margin per unit
      • Calculating the margin of safety
    • Doing What-If Analysis
      • Lower profit from lower sales – but that much lower?
      • Violent profit swings due to operating leverage
      • Cutting sales price, evena little, can gut profit
      • Improving profit
      • Cutting prices to increase sales volume: A very tricky game to play!
      • Cash flow from improving profit margin versus improving sales volume
    • A Final Word or Two
  • Chapter 10 Business Budgeting
    • The Reasons for Budgeting
      • The modelling reasons for budgeting
      • Planning reasons for budgeting
      • Management control reasons for budgeting
      • Other benefits of budgeting
    • Budgeting and Management Accounting
    • Budgeting in Action
      • Developing your profit strategy and budgeted profit and loss account
      • Budgeting cash flow from profit for the coming year
    • Capital Budgeting
      • Deducing payback
      • Discounting cash flow
      • Calculating the internal rate of return
      • Arriving at the cost of capital
    • Reporting On Variances
      • Flexing your budget
    • Staying Flexible with Budgets
  • Chapter 11 Choosing the Right Ownership Structure
    • From the Top Line to the Bottom Line
    • What Owners Expect for Their Money
      • Companies
      • Partnerships and limited partnerships
      • Sole proprietorships
      • Limited companies (Ltd) and public limited companies (plc)
    • Choosing the Right Legal Structure for Tax Purposes
      • Companies
      • Partnerships, limited liability partnerships and sole proprietorships
      • Deciding which legal structure is best
  • Chapter 12 Cost Conundrums
    • Previewing What’s Coming Down the Road
    • What Makes Cost So Important?
    • Sharpening Your Sensitivity to Costs
      • Direct versus indirect costs
      • Fixed versus variable costs
      • Breaking even
      • Relevant versus irrelevant (sunk) costs
      • Separating between actual, budgeted and standard costs
      • Product versus period costs
    • Putting Together the Pieces of Product Cost for Manufacturers
      • Minding manufacturing costs
      • Allocating costs properly: Not easy!
      • Calculating product cost
      • Fixed manufacturing costs and production capacity
      • Excessive production output for puffing up profit
    • A View from the Top Regarding Costs
  • Chapter 13 Choosing Accounting Methods
    • Decision-Making Behind the Scenes in Profit and Loss Accounts
    • Calculating Cost of Goods Sold and Cost of Stock
      • The FIFO method
      • The LIFO method
      • The average cost method
    • Identifying Stock Losses: Net Realisable Value (NRV)
    • Managing Your Stock Position
    • Appreciating Depreciation Methods
    • Collecting or Writing Off Bad Debts
    • Reconciling Corporation Tax
    • Dealing With Foreign Exchange
      • Transaction exposure
      • Translation exposure
      • Comparing performance
    • Two Final Issues to Consider
• Part IV Financial Reports in the Outside World
  • Chapter 14 How Investors Read a Financial Report
    • Financial Reporting by Private versus Public Businesses
    • Analysing Financial Reports with Ratios
      • Gross margin ratio
      • Profit ratio
      • Earnings per share, basic and diluted
      • Price/earnings (P/E) ratio
      • Dividend yield
      • Book value per share
      • Return on equity (ROE) ratio
      • Gearing or leverage
      • Current ratio
      • Acid-test ratio
      • Keeping track of stock and debtor levels
      • Return on assets (ROA) ratio
      • Using combined ratios
      • Appreciating the limits of ratios
    • Frolicking through the Footnotes
    • Checking for Ominous Skies on the Audit Report
    • Finding Financial Facts
      • Public company accounts
      • Private company accounts
      • Scoring credit
      • Using FAME (Financial Analysis Made Easy)
  • Chapter 15 Professional Auditors and Advisers
    • Why Audits?
    • Who’s Who in the World of Audits
    • What an Auditor Does before Giving an Opinion
    • What’s in an Auditor’s Report
      • True and fair, a clean opinion
      • Other kinds of audit opinions
    • Do Audits Always Catch Fraud?
      • Looking for errors and fraud
      • What happens when auditors spot fraud
    • Auditors and the Rules
    • From Audits to Advising
• Part V The Part of Tens
  • Chapter 16 Ten Ways Savvy Business Managers Use Accounting
    • Make Better Profit Decisions
    • Understand That a Small Sales Volume Change Has a Big Effect on Profit
    • Fathom Profit and Cash Flow from Profit
      • Profit accounting methods are like hemlines
      • The real stuff of profit
    • Govern Cash Flow Better
    • Call the Shots on Your Management Accounting Methods
    • Build Better Budgets
    • Optimise Capital Structure and Financial Leverage
    • Develop Better Financial Controls
    • Minimise Tax
    • Explain Your Financial Statements to Others
  • Chapter 17 Ten Places a Business Gets Money From
    • Stock Markets
    • Private Equity
    • Business Angels
    • Corporate Venture Funds
    • Banks
    • Bonds, Debentures and Mortgages
    • Leasing and Hire-Purchase
    • Factoring and Invoice Discounting
    • Grants, Incentives and Competitions
    • Using the Pension Fund
  • Chapter 18 Ten (Plus One) Questions Investors Should Ask When Reading a Financial Report
    • Did Sales Grow?
    • Did the Profit Ratios Hold?
    • Were There Any Unusual or Extraordinary Gains or Losses?
    • Did Earnings Per Share Keep Up with Profit?
    • Did the Profit Increase Generate a Cash Flow Increase?
    • Are Increases in Assets and Liabilities Consistent with the Business’s Growth?
    • Can the Business Pay Its Liabilities?
    • Are There Any Unusual Assets and Liabilities?
    • How Well Are Assets Being Utilised?
    • What Is the Return on Capital Investment?
    • What Does the Auditor Say?
  • Chapter 19 Ten Ways to Get a Better Handle on the Financial Future
    • Sales Forecasts versus Sales Objectives
    • Dealing with Demand Curves
    • Maths Matters
    • Averaging Out Averages
    • Looking for Causes
    • Straddling Cycles
    • Surveying Future Trends
    • Talking To The Troops
    • Setting Out Assumptions
    • Making Regular Revisions
• Part VI Appendixes
  • Appendix A Glossary: Slashing through the Accounting Jargon Jungle
  • Appendix B Accounting Software and Other Ways to Get the Books in Good Order
    • Popular Accounting Programs
      • Sourcing accounting and bookkeeping software
    • Using a Bookkeeping Service
    • Hiring an Accountant
• Index
• Advert

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