{"product_id":"financial-accounting-for-dummies-isbn-9781119758129","title":"Financial Accounting For Dummies","description":"\u003cp\u003e\u003cb\u003eLearn to speak fluent finance—and ace your exams!\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWarren Buffett said that \"accounting is the language of business.\" And for many accounting and business students, the obscure terminology of accounting makes fluency hard to achieve. \u003ci\u003eFinancial Accounting For Dummies\u003c\/i\u003e can help to demystify abstract concepts in a straightforward, friendly way. With step-by-step examples and real-world scenarios practice, it helps you grasp the fundamentals of accounting until you're ready to interpret, analyze, and evaluate corporate financial statements like you've been doing it all your life.\u003c\/p\u003e \u003cp\u003ePacked with easy-to-understand examples, this book takes you from the big three financial statements all the way through to income taxes. Or join the anti-fraud squad by discovering how to spot the ten most common accounting shenanigans.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eGrasp introductory financial accounting course material\u003c\/li\u003e \u003cli\u003eExplore common concepts financial professionals use to compile reports\u003c\/li\u003e \u003cli\u003eUnderstand leases, free cash flow, and statement analysis\u003c\/li\u003e \u003cli\u003eLearn accounting for small businesses\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eWhether you're studying for your bachelor's, MBA, or MAcc, you’ll find everything you need to speak the language of finance like a native—and use it to get to wherever you want to go!\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIntroduction\u003c\/b\u003e\u003cb\u003e 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAbout This Book 2\u003c\/p\u003e \u003cp\u003eFoolish Assumptions 2\u003c\/p\u003e \u003cp\u003eIcons Used in This Book 3\u003c\/p\u003e \u003cp\u003eBeyond the Book 3\u003c\/p\u003e \u003cp\u003eWhere to Go from Here 4\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 1: Getting a Financial Accounting Initiation 5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: Seeing the Big Picture of Financial Accounting\u003c\/b\u003e\u003cb\u003e 7\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKnowing the Purposes of Financial Accounting 8\u003c\/p\u003e \u003cp\u003ePreparing financial statements 8\u003c\/p\u003e \u003cp\u003eShowing historic performance 10\u003c\/p\u003e \u003cp\u003eProviding results for the annual report 10\u003c\/p\u003e \u003cp\u003eGetting to Know Financial Accounting Users 11\u003c\/p\u003e \u003cp\u003eIdentifying the most likely users 11\u003c\/p\u003e \u003cp\u003eRecognizing their needs 11\u003c\/p\u003e \u003cp\u003eProviding information for decision-making 12\u003c\/p\u003e \u003cp\u003eRespecting the Key Characteristics of Financial Accounting Information 13\u003c\/p\u003e \u003cp\u003eRelevance 13\u003c\/p\u003e \u003cp\u003eReliability 14\u003c\/p\u003e \u003cp\u003eComparability 14\u003c\/p\u003e \u003cp\u003eConsistency 15\u003c\/p\u003e \u003cp\u003eAccepting Financial Accounting Constraints 17\u003c\/p\u003e \u003cp\u003eConsidering Your Ethical Responsibilities 18\u003c\/p\u003e \u003cp\u003eFollowing the accountant’s code of conduct 18\u003c\/p\u003e \u003cp\u003eHaving integrity 19\u003c\/p\u003e \u003cp\u003eMaintaining objectivity 19\u003c\/p\u003e \u003cp\u003eAchieving independence 20\u003c\/p\u003e \u003cp\u003eIntroducing the Conceptual Framework of Financial Accounting 21\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: Introducing the Big Three Financial Statements\u003c\/b\u003e\u003cb\u003e 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGauging the Health of a Business through Its Financials 24\u003c\/p\u003e \u003cp\u003eReporting Assets and Claims: The Balance Sheet 25\u003c\/p\u003e \u003cp\u003eRealizing why the balance sheet is “classified” 26\u003c\/p\u003e \u003cp\u003eStudying the balance sheet components 26\u003c\/p\u003e \u003cp\u003eSeeing an example of a classified balance sheet 29\u003c\/p\u003e \u003cp\u003ePosting Profit or Loss: The Income Statement 30\u003c\/p\u003e \u003cp\u003eKeeping a scorecard for business activity 30\u003c\/p\u003e \u003cp\u003eStudying the income statement components 31\u003c\/p\u003e \u003cp\u003eSeeing an example of an income statement 33\u003c\/p\u003e \u003cp\u003eShowing the Money: The Statement of Cash Flows 33\u003c\/p\u003e \u003cp\u003eTracking sources and uses of cash 34\u003c\/p\u003e \u003cp\u003eStudying sections of the cash flow statement 34\u003c\/p\u003e \u003cp\u003eSeeing a short statement of cash flows 35\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Running the Numbers for Success \u003c\/b\u003e\u003cb\u003e37\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIdentifying Accounting Issues and Solutions 38\u003c\/p\u003e \u003cp\u003eSelecting a Business Entity 38\u003c\/p\u003e \u003cp\u003eAdvantages of the sole proprietorship 39\u003c\/p\u003e \u003cp\u003eOwners’ capital 39\u003c\/p\u003e \u003cp\u003eLimiting liability with the S Corporation 40\u003c\/p\u003e \u003cp\u003eLearning about recognition options 41\u003c\/p\u003e \u003cp\u003eReporting for Small Businesses 42\u003c\/p\u003e \u003cp\u003ePreparing reports 42\u003c\/p\u003e \u003cp\u003eAnalyzing reporting 45\u003c\/p\u003e \u003cp\u003eIdentifying cost issues 46\u003c\/p\u003e \u003cp\u003eManaging Cash 48\u003c\/p\u003e \u003cp\u003eIdentifying cost issues 48\u003c\/p\u003e \u003cp\u003eImproving cash flow 53\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Acronym Alert! Setting the Standards for Financial Accounting \u003c\/b\u003e\u003cb\u003e55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWalking through the Origins of Number Crunching 56\u003c\/p\u003e \u003cp\u003eKnowing the Role of the American Institute of Certified Public Accountants (AICPA) 58\u003c\/p\u003e \u003cp\u003eASB audit and attestation standards 59\u003c\/p\u003e \u003cp\u003eAICPA Code of Professional Conduct 60\u003c\/p\u003e \u003cp\u003eFollowing Regulatory Issues 61\u003c\/p\u003e \u003cp\u003eThe U.S Securities and Exchange Commission (SEC) 62\u003c\/p\u003e \u003cp\u003eThe Sarbanes-Oxley Act of 2002 (SOX) 63\u003c\/p\u003e \u003cp\u003eThe Public Company Accounting Oversight Board (PCAOB) 64\u003c\/p\u003e \u003cp\u003eGetting to Know the Financial Accounting Standards Board (FASB) 65\u003c\/p\u003e \u003cp\u003eUnderstanding generally accepted accounting principles (GAAP) 66\u003c\/p\u003e \u003cp\u003eLooking online for the FASB’s standards 67\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 2: Reviewing Some Accounting Basics 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: Booking It: The Process Behind Financial Accounting\u003c\/b\u003e\u003cb\u003e 71\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eShedding Some Light on Bookkeeping 72\u003c\/p\u003e \u003cp\u003eAnalyzing the Effect of Business Transactions 73\u003c\/p\u003e \u003cp\u003eWorking the fundamental accounting equation 73\u003c\/p\u003e \u003cp\u003eGetting familiar with accounts 74\u003c\/p\u003e \u003cp\u003eDefining debits and credits 76\u003c\/p\u003e \u003cp\u003eLearning about the transaction methodology 77\u003c\/p\u003e \u003cp\u003eDefining Journals 78\u003c\/p\u003e \u003cp\u003eUsing journals to record cash transactions 78\u003c\/p\u003e \u003cp\u003eRecording accrual transactions 82\u003c\/p\u003e \u003cp\u003eLearning about other journals 84\u003c\/p\u003e \u003cp\u003eSeeing examples of common journal entries 86\u003c\/p\u003e \u003cp\u003eBringing It All Together in the Ledger 88\u003c\/p\u003e \u003cp\u003eRealizing what a ledger is 88\u003c\/p\u003e \u003cp\u003ePosting to the ledgers 89\u003c\/p\u003e \u003cp\u003eViewing an example of a general ledger 89\u003c\/p\u003e \u003cp\u003eRecognizing the purpose of the trial balance 91\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: Focusing on Accounting Methods and Concepts\u003c\/b\u003e\u003cb\u003e 93\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDistinguishing between Key Accounting Methods 94\u003c\/p\u003e \u003cp\u003eThe cash basis 94\u003c\/p\u003e \u003cp\u003eThe accrual basis 95\u003c\/p\u003e \u003cp\u003eSorting through Standards for Other Types of Accounting 96\u003c\/p\u003e \u003cp\u003eManagerial accounting 96\u003c\/p\u003e \u003cp\u003eNot-for-profit accounting 97\u003c\/p\u003e \u003cp\u003eGovernmental accounting 98\u003c\/p\u003e \u003cp\u003eInternational accounting 98\u003c\/p\u003e \u003cp\u003eConsidering the Conceptual Framework of Financial Accounting 99\u003c\/p\u003e \u003cp\u003eThe objective of financial reporting 100\u003c\/p\u003e \u003cp\u003eCharacteristics of accounting information 101\u003c\/p\u003e \u003cp\u003eElements of the financial statements 101\u003c\/p\u003e \u003cp\u003eFinancial statement measurements 102\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 3: Spending Quality Time with the Balance Sheet 103\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: Assessing the Balance Sheet’s Asset Section\u003c\/b\u003e\u003cb\u003e 105\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHoming in on Historic Cost 106\u003c\/p\u003e \u003cp\u003eLearning What Makes an Asset Current 106\u003c\/p\u003e \u003cp\u003eCash 107\u003c\/p\u003e \u003cp\u003eShort-term investments 108\u003c\/p\u003e \u003cp\u003eAccounts receivable 110\u003c\/p\u003e \u003cp\u003eNotes receivable 111\u003c\/p\u003e \u003cp\u003eInventory 112\u003c\/p\u003e \u003cp\u003ePrepaid expenses 113\u003c\/p\u003e \u003cp\u003eKeeping Track of Noncurrent (Long-Term) Assets 114\u003c\/p\u003e \u003cp\u003eMeeting the tangibles: Property, plant, and equipment (PP\u0026amp;E) 114\u003c\/p\u003e \u003cp\u003eInvestigating intangible assets 116\u003c\/p\u003e \u003cp\u003eStudying the Asset Section of the Balance Sheet 118\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Digging for Debt in the Liabilities Section\u003c\/b\u003e\u003cb\u003e 121\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSeeing How Businesses Account for Liabilities 122\u003c\/p\u003e \u003cp\u003eKeeping Current Liabilities under Control 123\u003c\/p\u003e \u003cp\u003eAccounts payable 124\u003c\/p\u003e \u003cp\u003ePayroll and taxes 125\u003c\/p\u003e \u003cp\u003eUnearned revenue 127\u003c\/p\u003e \u003cp\u003eOther short-term liabilities 128\u003c\/p\u003e \u003cp\u003ePlanning for Long-Term Obligations 130\u003c\/p\u003e \u003cp\u003eManaging long-term debt 131\u003c\/p\u003e \u003cp\u003eAnticipating contingent liabilities 132\u003c\/p\u003e \u003cp\u003eAccounting for Bond Issuances 133\u003c\/p\u003e \u003cp\u003eUnderstanding bond basics 133\u003c\/p\u003e \u003cp\u003eAccounting for bonds sold at face value 134\u003c\/p\u003e \u003cp\u003eAddressing interest payments 134\u003c\/p\u003e \u003cp\u003eGetting and amortizing a premium 134\u003c\/p\u003e \u003cp\u003eReporting a bond discount 135\u003c\/p\u003e \u003cp\u003eRetiring and converting bonds 136\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: Letting Owners Know Where They Stand: The Equity Section\u003c\/b\u003e\u003cb\u003e 137\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDistinguishing Different Types of Business Entities 138\u003c\/p\u003e \u003cp\u003eSole proprietorship 138\u003c\/p\u003e \u003cp\u003ePartnership 139\u003c\/p\u003e \u003cp\u003eCorporate 140\u003c\/p\u003e \u003cp\u003eDefining Paid-in Capital 141\u003c\/p\u003e \u003cp\u003eRecording Retained Earnings 143\u003c\/p\u003e \u003cp\u003eSpotting Reductions to Stockholders’ Equity 143\u003c\/p\u003e \u003cp\u003ePaying dividends 144\u003c\/p\u003e \u003cp\u003eBuying treasury stock 146\u003c\/p\u003e \u003cp\u003eLearning about Stock Splits 146\u003c\/p\u003e \u003cp\u003eAccounting for Accumulated Other Comprehensive Income 147\u003c\/p\u003e \u003cp\u003eSeeing a Sample Equity Section of the Balance Sheet 148\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 4: Investigating Income and Cash Flow 149\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: Searching for Profit or Loss on the Income Statement\u003c\/b\u003e\u003cb\u003e 151\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePresenting the Income Statement in One of Two Ways 152\u003c\/p\u003e \u003cp\u003eRecognizing the single-step format 152\u003c\/p\u003e \u003cp\u003eBreaking it out with the multiple-step format 153\u003c\/p\u003e \u003cp\u003eDefining Different Types of Businesses 154\u003c\/p\u003e \u003cp\u003eProviding a service 154\u003c\/p\u003e \u003cp\u003eMerchandising to the public 154\u003c\/p\u003e \u003cp\u003eManufacturing a product 155\u003c\/p\u003e \u003cp\u003eExamining Income Statement Sections 155\u003c\/p\u003e \u003cp\u003eTwo types of revenue 156\u003c\/p\u003e \u003cp\u003eContra revenue accounts 157\u003c\/p\u003e \u003cp\u003eCost of goods sold 159\u003c\/p\u003e \u003cp\u003eGross profit 162\u003c\/p\u003e \u003cp\u003eOperating expenses 162\u003c\/p\u003e \u003cp\u003eHeading toward the bottom line 163\u003c\/p\u003e \u003cp\u003eEarnings per share 165\u003c\/p\u003e \u003cp\u003eWatching Out for Unusual Income Statement Items 166\u003c\/p\u003e \u003cp\u003eDiscontinued operations 167\u003c\/p\u003e \u003cp\u003eNoncontrolling subsidiary interests 168\u003c\/p\u003e \u003cp\u003eArriving at the Final Product 168\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11: Following the Money by Studying Cash Flow\u003c\/b\u003e\u003cb\u003e 171\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnderstanding the Difference between Cash and Profit 172\u003c\/p\u003e \u003cp\u003eSeeing how noncash transactions affect profit 172\u003c\/p\u003e \u003cp\u003eDistinguishing costs from expenses 173\u003c\/p\u003e \u003cp\u003eRealizing the Purpose of the Statement of Cash Flows 173\u003c\/p\u003e \u003cp\u003eWalking through the Cash Flow Sections 175\u003c\/p\u003e \u003cp\u003eFiguring cash operating results 175\u003c\/p\u003e \u003cp\u003eShowing cash investing transactions 178\u003c\/p\u003e \u003cp\u003eAccounting for financing activities 180\u003c\/p\u003e \u003cp\u003eRecognizing Methods for Preparing the Statement of Cash Flows 181\u003c\/p\u003e \u003cp\u003eUsing the direct method 181\u003c\/p\u003e \u003cp\u003eStarting indirectly with net income 182\u003c\/p\u003e \u003cp\u003eInterpreting the Statement of Cash Flows 183\u003c\/p\u003e \u003cp\u003eLooking at Two Sample Statements of Cash Flows 183\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: Examining Depreciation Cost Flow Assumptions\u003c\/b\u003e\u003cb\u003e 187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDiscovering How Depreciation Affects All Financial Statements 188\u003c\/p\u003e \u003cp\u003eMastering Costs 189\u003c\/p\u003e \u003cp\u003eDefining costs and expenses in the business world 190\u003c\/p\u003e \u003cp\u003eSatisfying the matching principle 190\u003c\/p\u003e \u003cp\u003eIdentifying product and period costs 191\u003c\/p\u003e \u003cp\u003eLearning which costs are depreciated 191\u003c\/p\u003e \u003cp\u003eDistinguishing among Depreciation Methods 194\u003c\/p\u003e \u003cp\u003eWalking through the straight-line method 196\u003c\/p\u003e \u003cp\u003eAccelerating by using declining balance 196\u003c\/p\u003e \u003cp\u003eCalculating sum-of-the-years’-digits 197\u003c\/p\u003e \u003cp\u003eUsing the units-of-production method 198\u003c\/p\u003e \u003cp\u003eSeeing how the methods compare 198\u003c\/p\u003e \u003cp\u003eFiguring partial year depreciation 199\u003c\/p\u003e \u003cp\u003ePreparing a Depreciation Schedule 200\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13: Learning about Inventory Cost Flow Assumptions\u003c\/b\u003e\u003cb\u003e 203\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDiscovering How Inventory Valuation Affects the Financial Statements 204\u003c\/p\u003e \u003cp\u003eDo Service Companies Have Inventory? 205\u003c\/p\u003e \u003cp\u003eClassifying Inventory Types 206\u003c\/p\u003e \u003cp\u003eAccounting for merchandising company inventory 206\u003c\/p\u003e \u003cp\u003eAccounting for manufacturing company inventory 208\u003c\/p\u003e \u003cp\u003eGetting to Know Inventory Valuation Methods 210\u003c\/p\u003e \u003cp\u003eSpecific identification 211\u003c\/p\u003e \u003cp\u003eWeighted average 211\u003c\/p\u003e \u003cp\u003eFirst-in, first out (FIFO) 211\u003c\/p\u003e \u003cp\u003eLast-in, first-out (LIFO) 212\u003c\/p\u003e \u003cp\u003eComparing inventory cost-flow assumptions 212\u003c\/p\u003e \u003cp\u003ePreparing an Inventory Worksheet 216\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 5: Analyzing the Financial Statements 217\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14: Using Ratios and Other Tools\u003c\/b\u003e\u003cb\u003e 219\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning about Liquidity Measurements 220\u003c\/p\u003e \u003cp\u003eFiguring the current ratio 221\u003c\/p\u003e \u003cp\u003ePutting the acid test to work 222\u003c\/p\u003e \u003cp\u003eWorking with working capital 223\u003c\/p\u003e \u003cp\u003eMeasuring Profitability 224\u003c\/p\u003e \u003cp\u003eExplaining trend analysis 224\u003c\/p\u003e \u003cp\u003eFocusing on return on investment 225\u003c\/p\u003e \u003cp\u003eHoming in on return on equity 227\u003c\/p\u003e \u003cp\u003eExploring Activity Measures 227\u003c\/p\u003e \u003cp\u003eAccounts receivable turnover 228\u003c\/p\u003e \u003cp\u003eInventory turnover 228\u003c\/p\u003e \u003cp\u003eNumber of days’ sales in accounts receivable 229\u003c\/p\u003e \u003cp\u003eAnalyzing Financial Statements 230\u003c\/p\u003e \u003cp\u003eUsing horizontal analysis 230\u003c\/p\u003e \u003cp\u003eComparing with vertical analysis 231\u003c\/p\u003e \u003cp\u003eUsing Common Size Financial Statements 232\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15: Got Your Dictionary Ready? Reading Explanatory Notes and Disclosures\u003c\/b\u003e\u003cb\u003e 235\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRealizing How Corporations Should Govern Themselves 236\u003c\/p\u003e \u003cp\u003eIdentifying Corporate Characteristics 236\u003c\/p\u003e \u003cp\u003eReviewing Common Explanatory Notes 239\u003c\/p\u003e \u003cp\u003eLeveling the playing field among financial statements 239\u003c\/p\u003e \u003cp\u003eExplaining significant accounting policies 240\u003c\/p\u003e \u003cp\u003eLooking for important event disclosures 244\u003c\/p\u003e \u003cp\u003ePutting the Onus on the Preparer 249\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16: Studying the Report to the Shareholders\u003c\/b\u003e\u003cb\u003e 251\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Private and Public Companies Treat Annual Reports Differently 252\u003c\/p\u003e \u003cp\u003eFulfilling Three Purposes 253\u003c\/p\u003e \u003cp\u003eServing a marketing and PR function 253\u003c\/p\u003e \u003cp\u003eStating financial performance and goals 253\u003c\/p\u003e \u003cp\u003eMeeting regulatory requirements 254\u003c\/p\u003e \u003cp\u003eReading the Annual Report to Shareholders 254\u003c\/p\u003e \u003cp\u003eMeeting the chair of the board of directors 255\u003c\/p\u003e \u003cp\u003eHighlighting key financial data 255\u003c\/p\u003e \u003cp\u003eTouting company achievements 257\u003c\/p\u003e \u003cp\u003eLooking into the future 257\u003c\/p\u003e \u003cp\u003eGetting to know key management and board members 258\u003c\/p\u003e \u003cp\u003eWalking through the Form 10-K 259\u003c\/p\u003e \u003cp\u003eFacing page: Identifying the affected company 259\u003c\/p\u003e \u003cp\u003ePart I: Learning more about the registrant 260\u003c\/p\u003e \u003cp\u003ePart II: Revealing the company’s financial performance 260\u003c\/p\u003e \u003cp\u003ePart III: Identifying management and corporate governance 264\u003c\/p\u003e \u003cp\u003ePart IV: Exhibits, financial statement schedules, and signature 264\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 6: Feeling Brave? Tackling More Advanced Financial Accounting Topics 265\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17: Accounting for Emerging Issues\u003c\/b\u003e\u003cb\u003e 267\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReviewing Different Technological Effects on Financial Accounting 268\u003c\/p\u003e \u003cp\u003eWorking in a digital world 268\u003c\/p\u003e \u003cp\u003eDiscussing transitional recording 272\u003c\/p\u003e \u003cp\u003eIntroducing the Pharmaceutical Industry 273\u003c\/p\u003e \u003cp\u003eBooking pharmaceutical transactions 274\u003c\/p\u003e \u003cp\u003eCrediting Research and Development Costs 279\u003c\/p\u003e \u003cp\u003eWalking through the background of research and development (R\u0026amp;D) 280\u003c\/p\u003e \u003cp\u003eExplaining the effect on relevant industries 281\u003c\/p\u003e \u003cp\u003eRealizing constraints for costs and expenses 281\u003c\/p\u003e \u003cp\u003eReporting in the books 282\u003c\/p\u003e \u003cp\u003eRecognizing Losses 282\u003c\/p\u003e \u003cp\u003eDifferent types of business interruptions 282\u003c\/p\u003e \u003cp\u003eProperly expensing or accruing costs 284\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18: Accounting for Income Taxes\u003c\/b\u003e\u003cb\u003e 285\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIdentifying Financial Income versus Taxable Income 286\u003c\/p\u003e \u003cp\u003eFiguring out financial income 287\u003c\/p\u003e \u003cp\u003eTaking a look at taxable income 287\u003c\/p\u003e \u003cp\u003eExplaining why the two incomes differ 289\u003c\/p\u003e \u003cp\u003eTaking Advantage of Net Operating Losses 292\u003c\/p\u003e \u003cp\u003eIdentifying loss carrybacks 292\u003c\/p\u003e \u003cp\u003eUnderstanding loss carryforwards 293\u003c\/p\u003e \u003cp\u003ePresenting a Side-by-Side Comparison of Book and Tax Calculations 294\u003c\/p\u003e \u003cp\u003eTaking Deferred Tax Liabilities or Assets to the Balance Sheet 295\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19: Accounting for Leases\u003c\/b\u003e\u003cb\u003e 297\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReviewing Lease Basics 298\u003c\/p\u003e \u003cp\u003eIdentifying leasing advantages 298\u003c\/p\u003e \u003cp\u003eIntroducing the lessor and lessee 299\u003c\/p\u003e \u003cp\u003eAccounting for the Lessee 300\u003c\/p\u003e \u003cp\u003eLooking at operating leases 300\u003c\/p\u003e \u003cp\u003eWalking through finance leases 302\u003c\/p\u003e \u003cp\u003ePresenting a finance lease on the financial statements 304\u003c\/p\u003e \u003cp\u003eAccounting for the Lessor 305\u003c\/p\u003e \u003cp\u003eOperating leases 305\u003c\/p\u003e \u003cp\u003eDirect financing leases 306\u003c\/p\u003e \u003cp\u003eSales-type leases 307\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20: Reporting Changes in Methods and the Correction of Errors\u003c\/b\u003e\u003cb\u003e 309\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCoping with Accounting Changes 310\u003c\/p\u003e \u003cp\u003eReporting changes in accounting principles 310\u003c\/p\u003e \u003cp\u003eChanging a company’s estimates 316\u003c\/p\u003e \u003cp\u003eUnderstanding changes in reporting entities 318\u003c\/p\u003e \u003cp\u003eDealing with Errors 319\u003c\/p\u003e \u003cp\u003eReviewing common types of errors 319\u003c\/p\u003e \u003cp\u003eLetting counterbalancing errors lie 320\u003c\/p\u003e \u003cp\u003eRestating the financial statements 321\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 7: The Part of Tens 323\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21: Ten Financial Accounting Shenanigans\u003c\/b\u003e\u003cb\u003e 325\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReporting Revenue in the Wrong Period 325\u003c\/p\u003e \u003cp\u003eReporting Fictitious Income 326\u003c\/p\u003e \u003cp\u003eIncreasing Income with Misleading Events 327\u003c\/p\u003e \u003cp\u003eShifting Expenses Between Periods 327\u003c\/p\u003e \u003cp\u003eMisclassifying Cash 328\u003c\/p\u003e \u003cp\u003eFailing to Record Liabilities 329\u003c\/p\u003e \u003cp\u003eReporting Liabilities in the Wrong Period 329\u003c\/p\u003e \u003cp\u003eNot Disclosing Related-Party Transactions 330\u003c\/p\u003e \u003cp\u003eCapitalizing Normal Operating Expenses 331\u003c\/p\u003e \u003cp\u003eDeleting Transactions 331\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 22: Ten Accounting Career Opportunities\u003c\/b\u003e\u003cb\u003e 333\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCertified Public Accountant 334\u003c\/p\u003e \u003cp\u003eConsultant 335\u003c\/p\u003e \u003cp\u003eCorporate Accountant 335\u003c\/p\u003e \u003cp\u003eForensic Accountant 336\u003c\/p\u003e \u003cp\u003eGovernment Accountant 337\u003c\/p\u003e \u003cp\u003eInformation Technology Auditor 338\u003c\/p\u003e \u003cp\u003eIncome Tax Accountant 338\u003c\/p\u003e \u003cp\u003eInternational Accountant 339\u003c\/p\u003e \u003cp\u003eNon-Accounting Accountant 339\u003c\/p\u003e \u003cp\u003eNot-for-Profit Accountant 340\u003c\/p\u003e \u003cp\u003eIndex 341\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eMaire Loughran, CPA,\u003c\/b\u003e is a university professor who teaches both undergraduate and graduate accounting classes. She is the author of \u003ci\u003eAuditing For Dummies\u003c\/i\u003e as well as the previous edition of \u003ci\u003eFinancial Accounting For Dummies.\u003c\/i\u003e   \u003c\/p\u003e\u003cul\u003e \u003cli\u003eCreate an attractive profile that gets attention\u003c\/li\u003e \u003cli\u003eMarket yourself through connections and groups\u003c\/li\u003e \u003cli\u003eIdentify potential partners, pals, and investors\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003cb\u003eLearn to speak the language of business!\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eIt's been said that accounting is the language of business. With this book as your guide, you can become fluent in finance—and if you're studying for an MBA or MAcc, that skill will help you pass your exams. In true \u003ci\u003eFor Dummies\u003c\/i\u003e style, this guide cuts through the thick forest of financial jargon to turn abstract concepts into understandable English. Step-by-step examples show you how things work in practice, so you can master the fundamentals of finance, interpret them, and put them to work like a pro. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eInside...\u003c\/b\u003e \u003c\/p\u003e\u003cul\u003e \u003cli\u003eGet the latest on GAAP\u003c\/li\u003e \u003cli\u003eGrasp mergers and acquisitions\u003c\/li\u003e \u003cli\u003eUnderstand accounting terms\u003c\/li\u003e \u003cli\u003eAnalyze and evaluate corporate financial statements\u003c\/li\u003e \u003cli\u003eCompile financial reports\u003c\/li\u003e \u003cli\u003eSpot common fraud techniques\u003c\/li\u003e \u003cli\u003eFind new career options\u003c\/li\u003e \u003c\/ul\u003e","brand":"For Dummies","offers":[{"title":"Default Title","offer_id":47989208744165,"sku":"NP9781119758129","price":29.99,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119758129.jpg?v=1761783274","url":"https:\/\/k12savings.com\/products\/financial-accounting-for-dummies-isbn-9781119758129","provider":"K12savings","version":"1.0","type":"link"}