Bookkeeping All-in-One For Dummies

Manage the art of bookkeeping

Do you need to get up and running on bookkeeping basics and the latest tools and technology used in the field? You've come to the right place! Bookkeeping All-In-One For Dummies is your go-to guide for all things bookkeeping. Bringing you accessible information on the new technologies and programs, it cuts through confusing jargon and gives you friendly instruction you can use right away.

Inside, you'll learn how to keep track of transactions, unravel up-to-date tax information, recognize your assets, and so much more.

• Covers all the new techniques and programs in the bookkeeping field

• Shows you how to manage assets and liabilities

• Explains how to track business transactions accurately with ledgers and journals

• Helps you make sense of accounting and bookkeeping basics

Get all the info you need to jumpstart your career as a bookkeeper!

Autorentext

Lita Epstein, MBA, enjoys helping people develop good financial, investing, and tax planning skills. She is the author of Bookkeeping For Dummies. John A. Tracy, CPA, is Professor of Accounting, Emeritus, at the University of Colorado in Boulder.

Klappentext
Manage the art of bookkeeping Do you need to get up and running on bookkeeping basics and the latest tools and technology used in the field? You've come to the right place!??This is your go-to guide for all things bookkeeping. Bringing you accessible information on the new technologies and programs, it cuts through confusing jargon and gives you friendly instruction you can use right away. Inside, you'll learn how to keep track of transactions, unravel up-to-date tax information, recognize your assets, and so much more. 5 Books Inside

• Keeping the Books
• Accounting and Financial Reports
• Day-to-Day Bookkeeping
• Preparing for Year's End
• Accounting and Managing Your Business

Zusammenfassung
Manage the art of bookkeeping

Do you need to get up and running on bookkeeping basics and the latest tools and technology used in the field? You've come to the right place! Bookkeeping All-In-One For Dummies is your go-to guide for all things bookkeeping. Bringing you accessible information on the new technologies and programs, it cuts through confusing jargon and gives you friendly instruction you can use right away.

Inside, you'll learn how to keep track of transactions, unravel up-to-date tax information, recognize your assets, and so much more.

• Covers all the new techniques and programs in the bookkeeping field
• Shows you how to manage assets and liabilities
• Explains how to track business transactions accurately with ledgers and journals
• Helps you make sense of accounting and bookkeeping basics
  Get all the info you need to jumpstart your career as a bookkeeper!

Inhalt

Introduction 1

About This Book 2

Foolish Assumptions 2

Icons Used in This Book 2

Beyond the Book 3

Where to Go From Here 4

Book 1: Keeping the Books 5

Chapter 1: Basic Bookkeeping 7

Bookkeepers: The Record Keepers of the Business World 8

Delving into Bookkeeping Basics 8

Recognizing the Importance of an Accurate Paper Trail 10

Using Bookkeeping's Tools to Manage Daily Finances 12

Running Tests for Accuracy 14

Finally Showing Off Your Financial Success 14

Wading through Bookkeeping Lingo 16

Pedaling through the Accounting Cycle 18

Tackling the Big Decision: Cash-Basis or Accrual Accounting 20

Seeing Double with Double-Entry Bookkeeping 22

Differentiating Debits and Credits 24

Chapter 2: Charting the Accounts 25

Getting to Know the Chart of Accounts 25

Starting with the Balance-Sheet Accounts 27

Tracking the Income-Statement Accounts 33

Setting Up Your Chart of Accounts 37

Chapter 3: The General Ledger 39

Understanding the Eyes and Ears of a Business 39

Developing Entries for the Ledger 40

Posting Entries to the Ledger 44

Adjusting for Ledger Errors 48

Using Computerized Transactions 48

Chapter 4: Keeping Journals 51

Establishing a Transaction's Point of Entry 51

When Cash Changes Hands 52

Managing Sales Like a Pro 56

Keeping Track of Purchases 58

Dealing with Transactions That Don't Fit 59

Posting Journal Information to Accounts 62

Simplifying Your Journaling with Computerized Accounting 63

Chapter 5: Controlling Your Records 67

Putting Controls on Your Business's Cash 68

Keeping the Right Paperwork 76

Protecting Your Business Against Internal Fraud 79

Insuring Your Cash through Employee Bonding 84

Chapter 6: Computer Options for Bookkeeping 85

Surveying Your Software Options 86

Setting Up Your Computerized Books 89

Chapter 7: Financial Statements and Accounting Standards 95

Reviewing the Basic Content of Financial Statements 96

Contrasting Profit and Cash Flow from Profit 107

Gleaning Key Information from Financial Statements 108

Keeping in Step with Accounting and Financial Reporting Standards 112

Book 2: Accounting and Financial Reports 119

Chapter 1: Financial Report Basics 121

Figuring Out Financial Reporting 122

Checking Out Types of Reporting 125

Introducing the Annual Report 129

Digging Deeper into the Annual Report 132

Summarizing the Financial Data 143

Chapter 2: Reporting Profit 145

Introducing Income Statements 146

Finding Profit 151

Getting Particular about Assets and Operating Liabilities 154

Summing Up the Diverse Financial Effects of Making Profit 159

Reporting Extraordinary Gains and Losses 160

Correcting Common Misconceptions about Profit 163

Importance of Reviewing All Parts of Financial Statements 164

Chapter 3: Exploring Business Structures 167

Flying Solo: Sole Proprietorships 168

Joining Forces: Partnerships 170

Seeking Protection with Limited Liability Companies 171

Shielding Your Assets: S and C Corporations 172

Investigating Private Companies 175

Understanding Public Companies 179

Entering a Whole New World: How a Company Goes from Private to Public 185 **Chapter 4: The Balance Sheet: Assets, Liabilit...