Accounting For Dummies: Fifth Edition
Product ID: 1623891
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Learn the basics of practical accounting Featuring the latest information on accounting methods and standards, this guide shows you how to avoid accounting fraud, minimize confusion, maximize profits, and make sense of accounting basics. You'll quickly understand how to manage inventory, report income and expenses for public or private companies, evaluate profit margins, analyze business strengths and weaknesses, and manage budgets for a better bottom line. With 25 percent new content including updated information on small and large business reporting standards, international accounting standards, and preventing financial reporting fraud, Accounting For Dummies continues to be an excellent resource for those studying accounting. The separate accounting and financial reporting standards for private/small businesses versus public/large businesses (Little GAAP vs. Big GAAP) The internationalization of accounting standards The rise in restatements of previously issued financial reports by public corporations, and how revisions of previously reported earnings impact investors The increasing focus on preventing financial reporting fraud and the expanded role and responsibility of the CPA auditor Accounting problems with stock options The "unaccounted for" cost of employee pensions and retirement health care costs, in both the private and public sectors Expanded coverage of small business accounting Updated resources and websites The information in Accounting For Dummies is valuable for anyone studying or working in the fields of accounting or finance. Review: Good Guide to the Basics - Accounting is sometimes called the "language of business" for its importance in the business world in keeping and analyzing financial records and recording important aspects of business such as profits and losses. Although accounting has its place in non-profit entities and governments, this book is primarily focused on accounting as profit-driven businesses use it. The book takes a non-technical approach to understanding the basics of accounting such as the three primary financial statements (income, cash flow, and balance sheet) and how the figures in those statements relate to how a business operates. The book also explains several other aspects of accounting such as P&L reports and different legal structures of a business affect how it operates and thus how accounting in it would work. He also takes some time to delve into other areas such as how investors would use information in making decisions. I found this an informative book as a beginning guide to understanding accounting. Review: I have several other accounting books which pretty much use a similar approach as each other - I have several other accounting books which pretty much use a similar approach as each other. This books uses a different approach in that the order topics are presented is different and also it encourages you to think at a little deeper level, EG - He says "Revenue is recorded via an increase in asset account or 'decrease' in liability account." OK I ask: what liability account - payables? or accrued wages? After some thought i remembered deferred revenue or customer deposits are initially recorded as a liability. Once earned, the liability account is decreased. Bottom line, I find Mr. Tracy to be thought provoking and insightful and a perfect compliment for other accounting books. I also rather enjoy Mr. Tracy's writing style. I would not recommend this as your only source, but I HIGHLY recommend that no matter what other accounting book you get, you get Accounting for Dummies to enhance and strengthen your understanding of accounting. I am a very satisfied customer!!!
| Best Sellers Rank | #2,518,401 in Books ( See Top 100 in Books ) #884 in Business Encyclopedias #7,502 in Accounting (Books) |
| Customer Reviews | 4.4 out of 5 stars 181 Reviews |
F**K
Good Guide to the Basics
Accounting is sometimes called the "language of business" for its importance in the business world in keeping and analyzing financial records and recording important aspects of business such as profits and losses. Although accounting has its place in non-profit entities and governments, this book is primarily focused on accounting as profit-driven businesses use it. The book takes a non-technical approach to understanding the basics of accounting such as the three primary financial statements (income, cash flow, and balance sheet) and how the figures in those statements relate to how a business operates. The book also explains several other aspects of accounting such as P&L reports and different legal structures of a business affect how it operates and thus how accounting in it would work. He also takes some time to delve into other areas such as how investors would use information in making decisions. I found this an informative book as a beginning guide to understanding accounting.
J**E
I have several other accounting books which pretty much use a similar approach as each other
I have several other accounting books which pretty much use a similar approach as each other. This books uses a different approach in that the order topics are presented is different and also it encourages you to think at a little deeper level, EG - He says "Revenue is recorded via an increase in asset account or 'decrease' in liability account." OK I ask: what liability account - payables? or accrued wages? After some thought i remembered deferred revenue or customer deposits are initially recorded as a liability. Once earned, the liability account is decreased. Bottom line, I find Mr. Tracy to be thought provoking and insightful and a perfect compliment for other accounting books. I also rather enjoy Mr. Tracy's writing style. I would not recommend this as your only source, but I HIGHLY recommend that no matter what other accounting book you get, you get Accounting for Dummies to enhance and strengthen your understanding of accounting. I am a very satisfied customer!!!
A**N
Good basic overview - Explains the Why of Accounting but does not teach Accounting
Almost what it says it is. For Dummies for sure, which is why I bought it. Does a good through (therefore a little repetitive - but that is a quality/defect/advantage of the Dummies format). It explains the basics of the typical three major accounting documents provided to a Company's Outsiders: * The Balance Sheet (Assets = Liabilities) * The Income Statement (money in, on paper, and money out, on paper,) * and the last one the Statement of Cash Flow ... which may happen before, or after, a financial record is made on the Income Statement. The very basic approach is what I was looking for, and the book delivers. I am reading, and rereading, a couple chapters at-a-time and I'm staying awake while doing it - so Kudos to the author. I see this subject as useful long-term background information - not something I make use of every week or month - which is why I'd reading and rereading it sections, hoping to anchor it in long-term memory. .
C**Y
Great Book, Helped Me Pass My Class!
Like all "For Dummies" books, this breaks down one of my most dreaded classes: Accounting. Good news is, I passed my class with a "B" after reading this book! The author makes this book very easy to read. Gives you insight and lets you know what portions of the book are very necessary and which ones are for more recreational reading.
B**N
Stellar Introduction to Accounting
I am preparing to start a MBA program in the Fall and I found this book exceptionally helpful. The author provides a broad overview of accounting basics tailored to business managers. In clear terms the author explains the significance of income statements, balance sheets, and statements of cashflows and he drives home the significant concepts by relating it back to managerial decision making. I highly recommend this to someone looking to broaden their understanding of accounting fundamentals.
E**M
Meh
This really only gives you the bare minimum of information. Probably good if you're a manager and just need to know what accountants do.
S**E
So glad I bought this.
Great book so far as I have gotten in it. My accounting class book makes it harder than needs be and is confusing. This is straight forward in a way that is easy to understand.
T**B
Outstanding!
It provided me with much needed help and overall understanding of accounting. It also helped me to appreciate the field, and I actually like accounting now. I used this book as an external aid to my school textbook, because my textbook only confused me. My fear of numbers began to subside, and I've learned to ask more questions.
B**Q
He thinks some of the things were explained better than his course books
I ordered this book for my other half as he started an accounting course and he needed a book that gives him extra help. He found this book a life saver. He thinks some of the things were explained better than his course books. Very pleased.
C**I
Impressed :)
Book is brand new condition, couldn't be more impressed with it and the fast shipping! Thank you! Really looking forward to diving into this one
E**D
Interesting and well explained
Good tool to start learning the basics of the accounting. Really helpful. It is a well done book, well guided, giving good tips to understand better what your accountant will provide you with.
F**A
Very good for starters
If you have no prior knowledge (and even if you do) on the subject, this is a good book to have.
D**E
Non soddisfacente
Molto, eccessivamente lacunoso. Uso la collana "for dummies" per avvicinarmi a nuove discipline per curiosità ed interessi personali ma questo testo, a differenza di altri della collana, non mi ha, finora, soddisfatto. Dovrebbero esserci più esempi di bilanci. Completerò la recensione a testo terminato.
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