McCrary Mastering Financial Accounting Essentials

The Critical Nuts and Bolts
1. Auflage 2009
ISBN: 978-0-470-54955-1
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 176 Seiten, E-Book

Reihe: Wiley Finance Editions

An indispensable hands-on guide to financial accounting
In light of recent accounting scandals, it is critical that allfinancial practitioners understand and play by the rules of theaccounting field. Starting from the assumption that the reader isnot familiar with any accounting jargon, Mastering FinancialAccounting Essentials presents material in a way that explainsthe key features of modern accounting step by step and helps youdevelop an intuitive understanding of accounting. Each chapterpresents important accounting concepts, from inventory valuationmethods and the timing of erosion of productive assets to howinternal managers calculate ratios and trends to evaluate businessefficiency.
For those who need to understand the language and law of thisdiscipline in order to communicate effectively with accountants andclients, Mastering Financial Accounting Essentials will bean indispensable guide.

Autoren/Hrsg.

McCrary, Stuart A.

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 CashFlows.
Using the Indirect Method to Document Changes in the CashPosition.
Using the Direct Method to Document Changes in the CashPosition.
Producing a Statement of Cash Flows Using the IndirectMethod.
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.