The Everything Accounting Book · Balance Your Budget, Manage Your Cash Flow, And Keep Your Books in the Black (Everything · Business and Personal Finance) by Cagan, Michele -- Read -- Imperial Library of Trantor

Index

Cover Book Title Copyright Contents Acknowledgments Top Ten Accounting Mistakes Introduction Chapter 1: Accounting Is More Than Numbers

Tracking and Measuring Success Accounting Versus Bookkeeping Who Uses Accounting Information? Different Versions for Different Reasons Who’s Who in Accounting How Accountants Can Help You Pick the Right Accounting Professional

Chapter 2: The Basic Accounts

Accounting Starts with Accounts Understanding Assets A Look at Liabilities All about Equity Revenues, Costs, and Expenses How the Accounts Connect Debits and Credits

Chapter 3: Keeping Track of Transactions

What Counts as a Transaction When to Record Transactions Setting Up Your Accounts Meet the General Ledger The Daily Journals It’s All in the Posting Checking It Twice The Accounting Cycle

Chapter 4: Setting Up a System

Get (and Stay) Organized Software Makes It Simpler Mapping Out Your Accounting Processes The Everyday Transactions Reconciling Your Accounts What to Keep, What to Toss

Chapter 5: The Accounting Equation

Every Business Has Assets Breaking Out Asset Categories A Closer Look at Fixed Assets Liabilities Are What Your Company Owes Equity Means Ownership Assets Equal Liabilities Plus Equity

Chapter 6: Recording Your Revenues

What Are You Selling? The Basics of Sales Transactions Develop a Sales Journal Simple Cash Sales Selling on Account Collecting Sales Tax Dealing with Special Sales Transactions When a Sale Is Not a Sale

Chapter 7: The Inventory-Cost Connection

Inventory Transforms into Cost of Goods What Goes into Inventory Costs? Set Up Your Purchases Journal Four Ways to Value Inventory Extra Steps for Manufacturers Figure Out Cost of Goods Sold

Chapter 8: Standard Operating Expenses

A Look at Expense Categories What Goes into Selling Costs Understanding Overhead All about Depreciation Don’t Forget Amortization Employees Cause a Lot of Transactions Recording Expense Transactions

Chapter 9: Managing the Payroll

A Big Pile of Forms All about Payroll Taxes Employee Benefits and Bonuses Calculating Take-Home Pay Payroll Tax Reporting and Filing Never Mess Around with Payroll Taxes Still Want to Do It Yourself?

Chapter 10: Always Know Your Cash

The Importance of Having Cash Earning Profits but Out of Cash The Basics of Cash Flow Tracking Your Incoming Cash Recording Your Outgoing Cash Reconcile Your Bank Statement What to Do When Cash Runs Low

Chapter 11: Handling Customer Credit

Why Sell on Credit? Establish Your Credit Policies Don’t Give Credit to Just Anyone Creating Invoices and Account Statements Dealing with Collections Accounting for Accounts Receivable Transactions

Chapter 12: Controlling Purchase Costs

Know What You Want Before You Buy Choose Your Vendors Wisely Getting Vendors to Extend Credit Creating Purchase Orders Dealing with Purchase Problems Review Their Invoices Recording Accounts Payable Transactions

Chapter 13: The End of Period Cleanup

Accounting Periods The Working Trial Balance Making Adjusting Entries Accounting for Accruals Prelude to Financial Statements Closing the Books

Chapter 14: Preparing Financial Statements

Three Major Financial Statements How These Statements Interconnect The Statement of Profit and Loss The Balance Sheet The Statement of Cash Flows

Chapter 15: Different Entities Mean Different Equity

Meet the Business Entities Which One Is Best for Your Business? Accounting for Sole Proprietorships Accounting for Partnership Equity Distributing Partnership Profits and Losses The Corporate Equity Section Dealing with Dividends

Chapter 16: The Income Tax Impact

Financial Statements Flow into Tax Returns Different Income Taxation for Different Entities Introducing Business Tax Forms Different Ways to Pay Yourself Your Payment Strategy Impacts Your Personal Taxes Tax Planning Strategies

Chapter 17: The Best Use of Your Financial Statements

What Can Your Statements Tell You? Vertical and Horizontal Analysis Calculating Crucial Financial Ratios Nipping Problems in the Bud A Basis for Decision-Making Boosting Profitability and Positive Cash Flow When You Need Outside Funding

Chapter 18: More Ways Accounting Helps Your Business

Know Your Costs to Set Your Prices The Break-Even Analysis Developing Pro Forma Statements Sticking to a Budget Financing Major Purchases Management Accounting The Importance of Internal Controls Using Internal Audits to Your Advantage

Chapter 19: Unique Issues for Specific Businesses

Common and Not-So-Common Transactions Retail Is More Than Buying and Selling Manufacturers Produce Special Transactions Accounting for Your Home-Based Business Small High-Tech Companies Building Construction Transactions

Chapter 20: Retirement Plans

The Best Tax Shelter Individual Retirement Accounts (IRAs) SIMPLE Plans Simplified Employee Pensions (SEPs) Keogh Plans Choosing the Right Plan for You Accounting for Contributions

Chapter 21: Common Small-Business Tax Snafus

Don’t Be Afraid of the IRS Employees Versus Contractors Salaries, Dividends, or Loans? Tracking Travel Expenses About Fringe Benefits Keeping Things Separate

Appendix A: Glossary Appendix B: Small-Business Resources on the Internet Index