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• Cover
• Introduction
• About This Book
• Foolish Assumptions
• Icons Used in This Book
• Beyond the Book
• Where to Go From Here
• Book 1: Keeping the Books
• Chapter 1: Basic Bookkeeping
• Bookkeepers: The Record Keepers of the Business World
• Delving into Bookkeeping Basics
• Recognizing the Importance of an Accurate Paper Trail
• Using Bookkeeping’s Tools to Manage Daily Finances
• Running Tests for Accuracy
• Finally Showing Off Your Financial Success
• Wading through Bookkeeping Lingo
• Pedaling through the Accounting Cycle
• Tackling the Big Decision: Cash-Basis or Accrual Accounting
• Seeing Double with Double-Entry Bookkeeping
• Differentiating Debits and Credits
• Chapter 2: Charting the Accounts
• Getting to Know the Chart of Accounts
• Starting with the Balance-Sheet Accounts
• Tracking the Income-Statement Accounts
• Setting Up Your Chart of Accounts
• Chapter 3: The General Ledger
• Understanding the Eyes and Ears of a Business
• Developing Entries for the Ledger
• Posting Entries to the Ledger
• Adjusting for Ledger Errors
• Using Computerized Transactions
• Chapter 4: Keeping Journals
• Establishing a Transaction’s Point of Entry
• When Cash Changes Hands
• Managing Sales Like a Pro
• Keeping Track of Purchases
• Dealing with Transactions That Don’t Fit
• Posting Journal Information to Accounts
• Simplifying Your Journaling with Computerized Accounting
• Chapter 5: Controlling Your Records
• Putting Controls on Your Business’s Cash
• Keeping the Right Paperwork
• Protecting Your Business Against Internal Fraud
• Insuring Your Cash through Employee Bonding
• Chapter 6: Computer Options for Bookkeeping
• Surveying Your Software Options
• Setting Up Your Computerized Books
• Chapter 7: Financial Statements and Accounting Standards
• Reviewing the Basic Content of Financial Statements
• Contrasting Profit and Cash Flow from Profit
• Gleaning Key Information from Financial Statements
• Keeping in Step with Accounting and Financial Reporting Standards
• Book 2: Accounting and Financial Reports
• Chapter 1: Financial Report Basics
• Figuring Out Financial Reporting
• Checking Out Types of Reporting
• Introducing the Annual Report
• Digging Deeper into the Annual Report
• Summarizing the Financial Data
• Chapter 2: Reporting Profit
• Introducing Income Statements
• Finding Profit
• Getting Particular about Assets and Operating Liabilities
• Summing Up the Diverse Financial Effects of Making Profit
• Reporting Extraordinary Gains and Losses
• Correcting Common Misconceptions about Profit
• Importance of Reviewing All Parts of Financial Statements
• Chapter 3: Exploring Business Structures
• Flying Solo: Sole Proprietorships
• Joining Forces: Partnerships
• Seeking Protection with Limited Liability Companies
• Shielding Your Assets: S and C Corporations
• Investigating Private Companies
• Understanding Public Companies
• Entering a Whole New World: How a Company Goes from Private to Public
• Chapter 4: The Balance Sheet: Assets, Liabilities, and Equity
• Understanding the Balance Equation
• Introducing the Balance Sheet
• Ogling Assets
• Looking at Liabilities
• Navigating the Equity Maze
• Chapter 5: The Income Statement
• Introducing the Income Statement
• Delving into the Tricky Business of Revenue
• Acknowledging Expenses
• Sorting Out the Profit and Loss Types
• Calculating Earnings per Share
• Chapter 6: The Statement of Cash Flows
• Digging into the Statement of Cash Flows
• Checking Out Operating Activities
• Investigating Investing Activities
• Understanding Financing Activities
• Recognizing the Special Line Items
• Adding It All Up
• Chapter 7: Getting a Financial Report Ready
• Recognizing Top Management’s Role
• Reviewing the Purposes of Financial Reporting
• Keeping Current with Accounting and Financial Reporting Standards
• Making Sure That Disclosure Is Adequate
• Putting a Spin on the Numbers (Short of Cooking the Books)
• Going Public or Keeping Things Private
• Dealing with Information Overload
• Statement of Changes in Owners’ Equity
• Chapter 8: Accounting Alternatives
• Setting the Stage
• Taking Financial Statements with a Grain of Salt
• Explaining the Differences
• Calculating Cost of Goods Sold Expense and Inventory Cost
• Recording Depreciation Expense
• Scanning Revenue and Expense Horizons
• Book 3: Day-to-Day Bookkeeping
• Chapter 1: Buying and Tracking Your Purchases
• Keeping Track of Inventory
• Practice: Working with Inventory and Calculating Cost of Goods Sold
• Buying and Monitoring Supplies
• Staying on Top of Your Bills
• Practice: Calculating Discounts
• Answers to Practice Questions
• Chapter 2: Counting Your Sales
• Collecting on Cash Sales
• Practice: Recording Sales
• Selling on Credit
• Practice: Sales on Store (Direct) Credit
• Proving Out the Cash Register
• Practice: Proving Out
• Tracking Sales Discounts
• Practice: Recording Discounts
• Recording Sales Returns and Allowances
• Practice: Tracking Sales Returns and Allowances
• Monitoring Accounts Receivable
• Practice: Aging Summary
• Accepting Your Losses
• Answers to Practice Questions
• Chapter 3: Employee Payroll and Benefits
• Setting the Stage for Staffing: Making Payroll Decisions
• Collecting Employee Taxes
• Determining Net Pay
• Practice: Payroll Tax Calculations
• Surveying Your Benefits Options
• Preparing Payroll and Posting It in the Books
• Practice: Payroll Preparation
• Finishing the Job
• Depositing Employee Taxes
• Outsourcing Payroll and Benefits Work
• Answers to Practice Questions
• Chapter 4: Employer-Paid Taxes and Government Payroll Reporting
• Paying Employer Taxes on Social Security and Medicare
• Completing Unemployment Reports and Paying Unemployment Taxes
• Practice: Calculating FUTA Tax
• Carrying Workers’ Compensation Insurance
• Maintaining Employee Records
• Answers to Practice Questions
• Book 4: Preparing for Year’s End
• Chapter 1: Depreciating Your Assets
• Defining Depreciation
• Reducing the Value of Assets
• Tackling Taxes and Depreciation
• Setting Up Depreciation Schedules
• Recording Depreciation Expenses
• Chapter 2: Paying and Collecting Interest
• Deciphering Types of Interest
• Handling Interest Income
• Delving into Loans and Interest Expenses
• Chapter 3: Proving Out the Cash
• Why Prove Out the Books?
• Making Sure Ending Cash Is Right
• Closing the Cash Journals
• Using a Temporary Posting Journal
• Reconciling Bank Accounts
• Posting Adjustments and Corrections
• Chapter 4: Closing the Journals
• Prepping to Close: Checking for Accuracy and Tallying Things Up
• Posting to the General Ledger
• Checking Out Computerized Journal Records
• Chapter 5: Checking Your Accuracy
• Working with a Trial Balance
• Testing Your Balance with Computerized Accounting Systems
• Developing a Financial Statement Worksheet
• Replacing Worksheets with Computerized Reports
• Chapter 6: Adjusting the Books
• Adjusting All the Right Areas
• Testing an Adjusted Trial Balance
• Changing Your Chart of Accounts
• Book 5: Accounting and Managing Your Business
• Chapter 1: Managing Profit
• Helping Managers: The Fourth Vital Task of Accounting
• Internal Profit Reporting
• Presenting a Profit Analysis Template
• Answering Critical Profit Questions
• Taking a Closer Look at the Lines in the Profit Template
• Using the Profit Template for Decision-Making Analysis
• Tucking Away Some Valuable Lessons
• Closing with a Boozy Example
• Chapter 2: Budgeting
• Exploring the Reasons for Budgeting
• Recognizing Additional Benefits of Budgeting
• Deciding Whether Budgeting Is Worth Its Costs
• Realizing That Not Everyone Budgets
• Watching Budgeting in Action
• Considering Capital Expenditures and Other Cash Needs
• Using Computer Accounting to Make Budgeting More Effective
• Chapter 3: Cost Accounting
• Looking Down the Road to the Destination of Costs
• Are Costs Really That Important?
• Becoming More Familiar with Costs
• Assembling the Product Cost of Manufacturers
• Puffing Profit by Excessive Production
• Chapter 4: Filing and Paying Business Taxes
• Finding the Right Business Type
• Tackling Tax Reporting for Sole Proprietors
• Filing Tax Forms for Partnerships
• Paying Corporate Taxes
• Taking Care of Sales Tax Obligations
• Chapter 5: Prepping the Books for a New Accounting Cycle
• Finalizing the General Ledger
• Conducting Special Year-End Bookkeeping Tasks
• Starting the Cycle Anew
• Index
• About the Authors
• Advertisement Page
• Connect with Dummies
• End User License Agreement