Financial Accounting

1. Auflage 2009
ISBN: 978-0-470-39332-1
Verlag: Wiley

Buch, Englisch, 160 Seiten, Format (B × H): 157 mm x 235 mm, Gewicht: 417 g

Reihe: Wiley Finance Editions

Mastering Financial Accounting Essentials is a text for people who need to use accounting information in their everyday jobs. They need to be able to understand the language and the law in order to talk to accountants and clients in an intellectual manner. Part One of the book uses an extended scenario to present the basics of financial accounting. McCrary creates a new business from scratch. By the end of the scenario (and the end of Part 1), readers will have reinvented double-entry book keeping. Along the way, readers can delve as deeply as they wish to learn more about inventory valuation methods (for example, LIFO verse FIFO) and the timing of erosion of the productive assets (for example, straight line depreciation verses double declining balance). As before, McCrary will emphasize a general understanding of the process and the reports. Part Two will use financial statements. Using the extended scenario above, McCrary shows how internal managers calculate ratios and trends to evaluate business efficiency. McCrary shows how bankers will review the statements to determine solvency.

Autoren/Hrsg.

McCrary, Stuart A

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen Betriebliches Rechnungswesen
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen Finanzierung, Investition, Leasing

Inhaltsverzeichnis

Preface.

Acknowledgments.

CHAPTER 1 Creating Ledger Accounting.

Count Everything.

The Beginnings of Double-Entry Accounting.

Double-Entry Recording of Business Transactions.

Handling Debits and Credits.

Keeping Track of Data.

A Mathematical Description of Double-Entry Conventions.

Handling Income Items.

Determining Profit in the Simple Accounting Model.

Permanent Accounts Overview.

Temporary Accounts Overview.

Conclusion.

Questions.

CHAPTER 2 Accounting Conventions.

Reasons Accountants Develop Conventions.

Accounting Cycle.

Classification.

Comparability.

Conservatism.

Double-Entry.

Full Disclosure.

Focus on Addition.

Generally Accepted Accounting Principles (GAAP).

Going-Concern Value.

Journal Entry.

Matching.

Materiality.

Recognition.

Understandability.

Usefulness.

Valuation.

Verifiability.

Conclusion.

Questions.

CHAPTER 3 Balance Sheet.

Balance Sheet Contains Permanent Accounts.

Time Line of Cash Flows.

Types of Balance Sheet Accounts.

Presenting the Classified Balance Sheet.

Conclusion.

Question.

CHAPTER 4 Adding an Income Statement.

Temporary Accounts.

Using Temporary Accounts.

Types of Transactions Involving Temporary Accounts.

Income Accounts.

Single-Step Income Statement.

Multistep Income Statement.

Conclusion.

Questions.

CHAPTER 5 Timing and Accrual Accounting.

Journaling Accounting Transactions.

Cash Basis Accounting.

Accrual Basis Accounting.

Conclusion.

Questions.

CHAPTER 6 The Statement of Cash Flows.

Importance of Cash.

An Intuitive Way to Track Cash.

Standard Accounting Categories on the Statement of Cash Flows.

Using the Indirect Method to Document Changes in the Cash Position.

Using the Direct Method to Document Changes in the Cash Position.

Producing a Statement of Cash Flows Using the Indirect Method.

Producing a Statement of Cash Flows Using the Direct Method.

Conclusion.

Questions.

CHAPTER 7 Ensuring Integrity.

Internal Controls and Procedures.

Independent Auditing.

The Role of the User of Financial Statements.

Conclusion.

Questions.

CHAPTER 8 Financial Statement Analysis.

Restating Accounting Results.

Ratio Analysis.

Trend Analysis.

Industry Analysis.

Conclusion.

Questions.

Collected Questions.

Answers.

About the Author.

Index.

Über Autor(innen)

Stuart A. McCrary is a Principal at Chicago Partners, a division of Navigant Consulting, Inc. He is a trader and portfolio manager who specializes in traditional and alternative investments, quantitative valuation, risk management, and financial software. Prior to joining Chicago Partners, McCrary was president of Frontier Asset Management, managing a market-neural hedge fund. He also held positions with Fenchurch Capital Management as a senior option trader and CS First Boston as vice president and market maker of over-the-counter options. Prior to that, McCrary was a vice president with the Securities Groups and a portfolio manager with Comerica Bank. McCrary has published two previous books with Wiley: How to Creat and Manage a Hedge Fund and Hedge Fund Course.