Accounting and Bookkeeping workbook for dummies Cheat Sheet 7 pptx

... 49Clearly, an accounting system needs to standardize the forms and procedures for processing and recording all normal, repetitive transactions and shouldcontrol the generation and handling of these ... Interestߜ Pensions and profit-sharing plansߜ Rentsߜ Repairs and maintenanceߜ Salaries and wagesߜ Taxes and licenses59Chapter 3: Bookkeeping and Accounting Systems 07_ 246009 ch03.qxp 4/16/08 ... assumptions and shouldmake a final check for any errors that may have fallen through thecracks. 57 Chapter 3: Bookkeeping and Accounting Systems 07_ 246009 ch03.qxp 4/16/08 11:54 PM Page 57 You must...

... 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 ... recording and reporting of profit; see Chapter 2 for details about GAAP.09_246009 ch04.qxp 4/16/08 11:56 PM Page 77 So what’s the answer for a manager who receives poorly formatted reports?Demand ... mistakes, and the barcode tagsthemselves may have been tampered with. Strong internal controls for the verification of data entry are extremely important. 73 Chapter 3: Bookkeeping and Accounting...

... amounts in thousands)CashAccounts receivableInventoryPrepaid expensesFixed assets, net of depreciationAssetsBeginningBalances$1,515$450 $72 5 $75 ( $77 5$1,990)$2, 275 $2,150$2 ,72 5$525$5,535$13,210OperatingActivitiesInvestingActivities($1, 275 $1, 275 )FinancingActivities($350($350))EndingBalances$2,165$2,600$3,450$600$6,035$14,850Accounts ... 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 ... plant, and equipmentAccumulated depreciation Net of depreciationTotal assetsAssets 2008$2,165$2,600$3,450$600$8,815$12,450($6,415$6,035$14,850$2, 275 $2,150$2 ,72 5$525 $7, 675 $11, 175 ($5,640$5,535$13,210))2009Accounts...