By Kenneth Boyd
A one-stop accounting reference
Packed with very important details culled from the wide For Dummies accounting, bookkeeping, and auditing libraries, Accounting All-in-One For Dummies is a strong, one-stop reference.
Accounting All-in-One For Dummies is a accomplished source on various accounting recommendations. you will get up to the mark on: developing your accounting approach; recording accounting transactions; adjusting and shutting entries; getting ready source of revenue statements and stability sheets; making plans and budgeting on your enterprise; dealing with money and making buy judgements; and more.
Accounting All-in-One For Dummies is a one-stop reference for college students learning the appliance of accounting theories and a invaluable table reference for accounting execs within the crew.
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Extra resources for Accounting All-in-One For Dummies
Double-entry accounting doesn't mean you enter all transactions twice; it means that you enter both sides of the transaction, debiting one account and crediting another.
Books is the common term for a business's complete set of accounts along with journal entries. A business's transactions are a constant stream of activities that don't end tidily on the last day of the year, which can make preparing financial statements and tax returns challenging. The business has to draw a clear line of demarcation between activities for the year ended and the year to come by closing the books for one year and starting with fresh books for the next year. Most medium-sized and larger businesses have an accounting manual that spells out in great detail the specific accounts and procedures for recording transactions.
Accounting, on the other hand, focuses on the periodic preparation of three main types of output — reports to managers, tax returns (income tax, sales tax, payroll tax, and so on), and financial statements and reports. These outputs are completed according to certain schedules. For example, financial statements are usually prepared every month and at the end of the year (12 months). �John Wiley & Sons, Inc. Figure 1-1: Panoramic view of bookkeeping and accounting. Accounting All-In-One For Dummies is concerned predominately with financial and management accounting.
Accounting All-in-One For Dummies by Kenneth Boyd