The book contains the following chapters:

Chapter 1: Introducing Accounting and Financial Statements

• What Is Accounting?
• Who Uses Accounting Information?
• Financial Statements
• How Different Business Entities Present Accounting Information

Chapter 2: Generally Accepted Accounting Principles

• Who Are the SEC, AICPA,FASB and the IASB?
• Generally Accepted Accounting Principles (GAAP)

Chapter 3: The Balance Sheet and Its Components

• Understanding the Balance Sheet
• The Accounting Equation
• The Components of the Balance Sheet
• The Transactions Behind the Balance Sheet

Chapter 4: The Income Statement

• Understanding the Income Statement
• The Income Statement Illustrated
• Transactions That Affect the Income Statement

Chapter 5: Preparing and Using a Statement of Cash Flows

• What Is a Statement of Cash Flow?
• Cash and Cash Equivalents
• The Statement of Cash Flows Illustrated

Chapter 6: The Corporation

• The Corporation Defined
• What Is Capital Stock?
• Dividends and Splits
• Incorporating Solana Beach Bicycle Company
• What Is Treasury Stock?

Chapter 7: Double-Entry Accounting

• The General Journal
• The General Ledger
• Adjusting Journal Entries
• Closing Journal Entries

Chapter 8: Using Financial Statements for Short-Term Analysis

• Using Short-Term Ratios
• Current and Quick Ratios
• Working Capital
• Composition of Assets

Chapter 9: Using Financial Statements for Long-Term Analysis

• Quality of Earnings
• Rate of Return Investment
• Sales-Based Ratios or Percentages
• Earnings Data
• Long-Term Debt Position
• Dividend Data
• Footnotes

Chapter 10: Budgeting for Your Business

• What Is a Budget?
• Planning and Control
• Advantages of Budgeting
• The Master Budget
• Sales Budget
• Capital Budget
• Budgeted Income Statement
• The Cash Budget

Chapter 11: Audits and Auditors

• What Is an Audit?
• Types of Auditors
• The Standard Audit Opinion Illustrated
• The Parts of the Report
• Other Types of Audit Reports
• Why Audits Are Useful to You

Chapter 12: Fraud and Ethics

• Fraud Defined
• What Causes Fraud
• How Fraud is Committed
• Ethics

 - Appendix A: Internet for Accountants
 - Appendix B: Frequently Asked Questions

 - Appendix C: Financial Statements – The Coca Cola Company

 

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