Book : Accounting For Non-accountants Financial Accounting.

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Review The 12 short, readable chapters offer a plethora of easy-to-understand examples along with Quick Tips, Alerts, and a glossary, which enhance the books usefulness to the reader - Choice A Quick, Compact, and Easy-to-Understand Resource for Non-Accountants! The perfect financial accounting guide for beginners!Accounting for Non-Accountants is the must-have guide for all of us who have never taken an accounting class, are mystified by accounting jargon, and have no clue about balance sheets, income statements, payroll management, corporate taxes, or statements of cash flows. This simple to use accounting book is bookmaking made simple. Whether you own a business, plan on starting one, or just want to control your own assets, youll find everything you need to know:How to prepare and use financial statementsHow to control cash flowsHow to manage budgetsHow to use accounting ratiosHow to deal with audits and auditors interpret financial statementsLet this book help you like it helped these readers: Dr. Labels explanations are simple and straightforward. This will help me a lot as I set up my own business. I have worked in accounting for over twenty-five years, and this is the best book I have seen to help people with the basics of accounting. For entrepreneurs or anyone who needs to brush up on accounting fast, this book will have you up and running in no time. About the Author Dr. Wayne A. Label, CPA, MBA, PhD, is a Certified Public Accountant in the state of Texas. He has taught at several universities in the United States and abroad, and has published three books on accounting and over 30 articles in professional journals. Excerpt. © Reprinted by permission. All rights reserved. Chapter 1Introducing Accounting and Financial StatementsWhat Is Accounting?Who Uses Accounting Information?Financial StatementsHow Different Business Entities Present Accounting InformationWhat Is Accounting?The purpose of accounting is to provide information that will help you make correct financial decisions. The accountant’s job is to provide the information needed to run a business as efficiently as possible while maximizing profits and keeping costs low.Quick TipFinding an Accountant: Hiring a professional and ethical accountant to aid in your business operations can be critical to the success of your company. Meet with a few accountants before making a final choice so that you know your options and can select one whose experience and work style will be best suited to your needs and the needs of your business. Local chapters of your state societies of CPAs offer referral services that can help with this.Accounting plays a role in businesses of all sizes. Your kids’ lemonade stand, a one-person business, and a multinational corporation all use the same basic accounting principles. Accounting is legislated; it affects your taxes; even the president plays a role in how accounting affects you.Accounting is the language of business. It is the process of recording, classifying, and summarizing economic events through certain documents or financial statements. Like any other language, accounting has its own terms and rules. To understand how to interpret and use the information accounting provides, you must first understand this language. Understanding the basic concepts of accounting is essential to success in business.Different types of information furnished by accountants are shown in figure 1.1 on the next page.Figure 1.1: TYPES OF INFORMATION PROVIDED BY ACCOUNTANTSInformation prepared exclusively by people within a company (managers, employees, or owners) for their own use.Financial information required by various government agencies such as the Internal Revenue Service (IRS), Securities and Exchange Commission (SEC), and the Federal Trade Commission (FTC).General information about companies provided to people outside the firm such as investors, creditors, and labor union
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