Accounting For Canadians For Dummies (eBook)

John A. Tracy (Boulder, Colorado) is Professor ofAccounting, Emeritus, at the University of Colorado in Boulder. Cécile Laurin is Professor of Accounting atAlgonquin College and is the coordinator of theprofessionalaccounting program.

Introduction 1

Part I: Opening the Books on Accounting 11

Chapter 1: Accounting: The Language of Business, Investing,Finance, and Taxes 13

Chapter 2: Financial Statements and Accounting Standards 31

Chapter 3: Bookkeeping and Accounting Systems 53

Part II: Figuring Out Financial Statements 75

Chapter 4: Reporting Revenue, Expenses, and the Bottom Line77

Chapter 5: Reporting Assets, Liabilities, and Owners' Equity99

Chapter 6: Reporting Cash Flows 121

Chapter 7: Choosing Accounting Methods: Different Strokes forDifferent Folks 139

Part III: Accounting in Managing a Business 161

Chapter 8: Deciding the Legal Structure for a Business 163

Chapter 9: Analyzing and Managing Profit 181

Chapter 10: Financial Planning, Budgeting, and Control 203

Chapter 11: Cost Concepts and Conundrums 221

Part IV: Preparing and Using Financial Reports 243

Chapter 12: Getting a Financial Report Ready for Release 245

Chapter 13: How Lenders and Investors Read a Financial Report267

Chapter 14: How Business Managers Use a Financial Report 289

Chapter 15: Audits and Accounting Fraud 307

Part V: The Part of Tens 319

Chapter 16: Ten Accounting Tips for Managers 321

Chapter 17: Ten Tips for Reading a Financial Report 331

Glossary 341

Index 353