Introduction 1
Part 1: Opening the Books on Accounting 5Chapter 1: Accounting: The Language of Business, Investing, Finance, and Taxes 7
Chapter 2: Financial Statements and Accounting Standards 27
Chapter 3: Bookkeeping and Accounting Systems 49
Part 2: Exploring Financial Statements 73Chapter 4: Reporting Revenue, Expenses, and the Bottom Line 75
Chapter 5: Reporting Assets, Liabilities, and Owners' Equity 99
Chapter 6: Reporting Cash Flows 123
Chapter 7: Choosing Accounting Methods: Different Strokes for Different Folks 141
Part 3: Preparing and Using Financial Reports 163Chapter 8: Deciding the Legal Structure for a Business 165
Chapter 9: Getting a Financial Report Ready for Release 183
Chapter 10: How Lenders and Investors Read a Financial Report 205
Chapter 11: How Business Managers Use a Financial Report 231
Part 4: Accounting in Business Management 251Chapter 12: Analyzing and Managing Profit 253
Chapter 13: Accounting for Costs 275
Chapter 14: Budgeting 297
Part 5: The Part of Tens 317Chapter 15: Ten Tips for Managers 319
Chapter 16: Ten Tips for Reading a Financial Report 329
Glossary: Slashing through the Accounting Jargon Jungle 339
Index 351
John A. Tracy, CPA, is professor of accounting, emeritus, at the University of Colorado in Boulder. Earlier in his career, he was a staff accountant with Ernst & Young.Cecile Laurin, CPA, CA, is a professor of accounting at Algonquin College of Applied Arts and Technology in Ottawa. She has been chief financial officer for three engineering firms and a law firm.
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