By Christopher Nobes

When you learn the 'business pages' of a newspaper or for those who hearken to the monetary information at the tv or radio, you'll frequently pay attention phrases similar to 'liability', 'balance sheet' or 'earnings'. those phrases occur in non-financial contexts in addition: 'he was once extra of a legal responsibility than an asset'. when you put money into stocks, have a construction society account, or take a seat on a committee of the valuables corporation which owns your condo block, you are going to obtain monetary statements each year. while you're a supervisor in a firm, a health center or a college, you'll discover accounting info often.

This Very brief creation offers a advisor to realizing and utilizing accounting details. Christopher Nobes explains the most components of accounting paintings, from bookkeeping and fiscal reporting to auditing and administration accounting.

Show description

Read Online or Download Accounting: A Very Short Introduction PDF

Best accounting books

Download e-book for iPad: Intellectual property law and policy by Hugh C. Hansen

Hart Publishing, Oxford is happy to announce that it has lately develop into the writer of this prestigious and masses valued paintings, formerly released by way of Juris Publishing. This quantity is an edited model of the formal shows and colloquies from the Fordham college college of Law’s 15th Annual convention on highbrow estate legislations and coverage.

Accounting Control and Controlling Accounting. by Jane Broadbent, Richard Laughlin PDF

This booklet advocates and illustrates using Interdisciplinary and demanding views on Accounting as a method to examine Accounting keep an eye on at a societal point and to teach how accounting is 'regulated' inside companies. Interdisciplinary and important views on Accounting derives from a view that accounting isn't really a part of and shouldn't be solely seen from a neo-classical economics point of view, yet, really, might be expert and analysed from substitute social technology views.

Read e-book online Interpretation and Application of UK GAAP: For Accounting PDF

Wake up up to now at the most up-to-date united kingdom GAAP, with functional software counsel Interpretation and alertness of united kingdom GAAP is a complete, useful advisor to utilizing united kingdom GAAP in any respect degrees, for accounting sessions beginning on or after January 1, 2015. This e-book examines the entire middle ideas for each company, from subsidiaries of significant indexed businesses all the way down to the very small, owner-managed company.

Extra resources for Accounting: A Very Short Introduction

Sample text

Unusual in nature 2. Infrequent of occurrence One or neither applies—component of income from continuing operations Focus on Financial Statements—Module 9 23 Extraordinary A hailstorm damages all of a farmer’s crops in a location where hailstorms have never occurred Acts of nature (usually) Not Extraordinary Gains or losses on sales of investments or property, plant, and equipment Gains or losses due to changes in foreign currency exchange rates Write-offs of inventory or receivables Effects of major strikes or changes in value of investments Focus on Financial Statements—Module 9 24 Change in Accounting Principle: Allowed Only if Required by New Accounting Principles or Change to Preferable Method Use retrospective application of new principle: 1.

4. Result is treated on books as prior-period adjustment to beginning retained earnings. , changes in bonus plans) are reported only in period of change. 5. All previous periods being presented in comparative statements restated to new principle. 6. Beginning balance of earliest presented statement of retained earnings adjusted for all effects going back before that date. 7. IFRS: Similar rules—Voluntary change must provide more reliable and relevant information. Focus on Financial Statements—Module 9 25 Change in Accounting Principle (continued) Journal entry: Asset or liability Retained earnings Current or deferred tax liability (asset) xxx xxx xxx Or Retained earnings Current or deferred tax liability (asset) Asset or liability xxx xxx xxx Focus on Financial Statements—Module 9 26 Special Changes Changes in accounting principle are handled using the prospective method under limited circumstances.

Step 5. Large decreases (more than most recent layer)—Eliminate most recent layer or layers and decrease next most recent layer. Step 6. Apply appropriate unit price to each layer. 00 $50,000 Total 13,200 units $71,600 Focus on Inventories—Module 10 50 Dollar-Value LIFO Less cumbersome than LIFO for inventory consisting of many items Combines inventory into pools Increases in some items within a pool offset decreases in others Applying Dollar-Value LIFO Step 1. Determine ending inventory at current year’s prices Step 2.

Download PDF sample

Accounting: A Very Short Introduction by Christopher Nobes


by Anthony
4.1

Rated 4.63 of 5 – based on 12 votes