Accounting and Bookkeeping workbook for dummies Cheat Sheet 5 pot

... Pensions and profit-sharing plansߜ Rentsߜ Repairs and maintenanceߜ Salaries and wagesߜ Taxes and licenses 59 Chapter 3: Bookkeeping and Accounting Systems07_246009 ch03.qxp 4/16/08 11 :54 PM ... 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 the generation and ... fraud in Chapters 7 and 15. 52 Part I: Opening the Books on Accounting 06_246009 ch02.qxp 4/16/08 11 :51 PM Page 52 Keeping in Step with Accounting and Financial Reporting StandardsThe unimpeded...

... very large( $50 0 million annual sales and up and 50 0 employees or more). Developing and marketing accounting software is a booming business. You could go toGoogle or Yahoo and type accounting ... 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 ... but beprepared for many, many references. Except for larger entities that employtheir own accounting software and information technology experts, mostbusinesses need the advice and help of outside...

... depreciationTotal assetsAssets 2008$2,1 65 $2,600$3, 450 $600$8,8 15 $12, 450 ($6,4 15 $6,0 35 $14, 850 $2,2 75 $2, 150 $2,7 25 $52 5$7,6 75 $11,1 75 ( $5, 640 $5, 5 35 $13,210))2009Accounts payableAccrued ... & owners’ equity$1 25 $ 150 $ 25 $1,690$1,990$640$ 750 $90$6,000$3,100$2,630$13,210$ 250 $ 150 ($ 750 ($ 350 ))$7 65 $900$1 15 $6, 250 $3, 250 $3 ,57 0$14, 850 Figure 5- 1:Summary ofchanges ... thousands)CashAccounts receivableInventoryPrepaid expensesFixed assets, net of depreciationAssetsBeginningBalances$1 ,51 5$ 450 $7 25 $ 75 ($7 75 $1,990)$2,2 75 $2, 150 $2,7 25 $52 5 $5, 5 35 $13,210OperatingActivitiesInvestingActivities($1,2 75 $1,2 75 )FinancingActivities($ 350 ($ 350 ))EndingBalances$2,1 65 $2,600$3, 450 $600$6,0 35 $14, 850 Accounts...