Table of Contents

Introduction 1

Part 1: Business Accounting Basics 5

Chapter 1: Business Accounting Fundamentals 7

Chapter 2: Financial Effects of Transactions 27

Chapter 3: Getting Started in the Bookkeeping Cycle 51

Chapter 4: The Bookkeeping Cycle: Adjusting and Closing Entries 81

Chapter 5: Accounting in the Digital Age 105

Part 2: Preparing Financial Statements. 123

Chapter 6: Understanding Basic Accounting Concepts and Methods 125

Chapter 7: The Effects and Reporting of Profit 155

Chapter 8: Reporting Financial Condition in the Balance Sheet 179

Chapter 9: Coupling the Income Statement and Balance Sheet 205

Chapter 10: Reporting Cash Flows and Changes in Owners’ Equity 223

Part 3: Managerial, Manufacturing, and Capital Accounting 245

Chapter 11: Analyzing Profit Behavior 247

Chapter 12: Tackling Managerial Cost Accounting 275

Chapter 13: Business Planning and Raising Capital 309

Part 4: The Part of Tens 337

Chapter 14: Ten Things You Should Know About Business Financial Statements 339

Chapter 15: A Ten-Point Checklist for Management Accountants 347

Index 355

About the Author

Tage C. Tracy runs a financial consulting firm offering CFO support and planning services to private companies. He is the author of Business Financial Information Secrets.