Accounting and Bookkeeping workbook for dummies Cheat Sheet 8 pptx

... Pensions and profit-sharing plansߜ Rentsߜ Repairs and maintenanceߜ Salaries and wagesߜ Taxes and licenses59Chapter 3: Bookkeeping and Accounting Systems07_246009 ch03.qxp 4/16/ 08 11:54 ... ch02.qxp 4/16/ 08 11:51 PM Page 49Clearly, an accounting system needs to standardize the forms and procedures for processing and recording all normal, repetitive transactions and shouldcontrol ... (non-government) sector for making pronouncementson GAAP — and for keeping these accounting standards up-to-date — is theFinancial Accounting Standards Board (FASB). Also, the federal Securities and Exchange...

... profit accounting a fascinating challenge. For one thing, you have tounderstand how a business operates and its strategies in order to account for its profit.Making a profit and accounting for ... impactof depreciation on cash flow” sidebar for more information. 88 Part II: Figuring Out Financial Statements 09_246009 ch04.qxp 4/16/ 08 11:56 PM Page 88 ߜ A business hires a law firm that does ... expense and a corre-sponding gross margin line. 80 Part II: Figuring Out Financial Statements 09_246009 ch04.qxp 4/16/ 08 11:56 PM Page 80 Lest you still think of accounting as dry and dull,...

... particular assets and liabil-ities and sales revenue and expenses. Business managers need a good under-standing of these connections to control assets and liabilities. And outsideinvestors and creditors ... equityTotal liabilities and owners’ equityLiabilities and Owners’ Equity 20 08 $765$900$115$2,250$4,030$4,000$3,250$3,570$6 ,82 0$14 ,85 0$640$750$90$2,150$3,630$3 ,85 0$3,100$2,630$5,730$13,2102009Typical ... sheet for the businessexample that I introduce in Chapter 4. The balance sheet is at the close ofbusiness, December 31, 20 08 and 2009. In most cases financial statements arenot completed and...