Accounting Workbook For Dummies

Balance the books without all the headaches!

Trying to get certified and become an accountant? Own a small business but need a little help balancing your books? Don′t worry! This hands–on guide provides the learning and vital practice you need to master important accounting concepts and basics. Perfect as a companion workbook for Accounting For Dummies or any other accounting textbook Accounting Workbook For Dummies gives you a wealth of real–world examples, demonstration problems, and handy exercises. With this helpful resource as your guide, you′ll master balance sheets, income statements, and budgets in no time!

100s of Problems!

Record transactions, track costs, and manage accounts Open and close bookkeeping cycles Analyze business performance and profit Choose the right accounting method Master investment accounting fundamentals Understand manufacturing cost accounting

Introduction 1

Part I: Business Accounting Basics 5

Chapter 1: Elements of Business Accounting 7

Chapter 2: Financial Effects of Transactions 27

Chapter 3: Getting Started in the Bookkeeping Cycle 47

Chapter 4: The Bookkeeping Cycle: Adjusting and Closing Entries 75

Part II: Preparing Financial Statements 97

Chapter 5: The Effects and Reporting of Profit 99

Chapter 6: Reporting Financial Condition in the Balance Sheet 119

Chapter 7: Coupling the Income Statement and Balance Sheet 143

Chapter 8: Reporting Cash Flows and Changes in Owners Equity 159

Chapter 9: Choosing Accounting Methods 177

Part III: Managerial, Manufacturing, and Capital Accounting 201

Chapter 10: Analyzing Profit Behavior 203

Chapter 11: Manufacturing Cost Accounting 229

Chapter 12: Figuring Out Interest and Return on Investment 259

Part IV: The Part of Tens 287

Chapter 13: Ten Things You Should Know About Business Financial Statements 289

Chapter 14: A Ten–Point Checklist for Management Accountants 295

Index 301

John A. Tracy is a former accountant and professor of accounting. He is also the author of Accounting For Dummies.