Accounting for Managers

by William Webster

Overview

Translated into 16 languages! The reader-friendly, icon-rich Briefcase Books series is must reading for all managers at every level.

All managers, whether brand new to their positions or well-established in the organizational hierarchy, can use a little "brushing up" now and then. The skills-based Briefcase Books series is filled with ideas and strategies to help managers become more capable, efficient, effective, and valuable to their organizations.

While they don't need the knowledge of a CPA, all managers must still have a basic understanding of how money is tracked and accounted for in an organization.

Using the sidebars and down-to-earth style that has become the Briefcase Books trademark, Accounting for Managers defines essential terms--from general ledger to chart of accounts--and, more importantly, discusses their applications in everyday business. It also introduces managers to popular accounting software programs and their use in tracking and allocating funds in the organization.

Product Details

ISBN-13:	9780071436472
Publisher:	McGraw Hill LLC
Publication date:	09/22/2003
Series:	Briefcase Books Series
Sold by:	Barnes & Noble
Format:	eBook
Pages:	225
File size:	3 MB

About the Author

William H. Webster, C.P.A. owns Century Small Business Solutions. He provides a wide range of professional services to his small business client base. These include management, investment, technical and accounting and tax services.

Table of Contents

	Preface	ix
1.	How to Speak Accounting	1
	The Three Questions	1
	Visualize to Understand	2
	The Accounting System	5
	Accounting from the Bottom Up	6
	Double Entry	7
	Bookkeeping and Accounting	12
	Financial Statements	15
	Accounting Principles	16
	The Fundamental Equations of Accounting	18
	The Advantages of an Accounting System	20
	A Few Important Details	20
	Manager's Checklist for Chapter 1	24
2.	Concepts and Principles, Checks and Balances	26
	Closing the GAAP	28
	Zen Accounting	36
	Checks and Balances	37
	Audits	40
	Manager's Checklist for Chapter 2	44
3.	Financial Statements	45
	The Lemonade Stand	45
	Load, Wash, Rinse, Spin, Dry	47
	Past as Prologue	49
	The Income Statement	50
	Statement of Cash Flows	53
	The Balance Sheet	57
	A Delicate Balance: The Adjusting Entries	59
	Manager's Checklist for Chapter 3	63
4.	Financial Ratios	64
	What Measures Performance?	64
	Liquidity Ratios	69
	Activity Ratios	70
	Debt Ratios	74
	Profitability Ratios	75
	Putting It All Together	78
	Manager's Checklist for Chapter 4	82
5.	Management Accounting	83
	Management Accounting--for the Future	84
	Cost/Volume/Profit Analysis	89
	Manager's Checklist for Chapter 5	101
6.	Management Cost Accounting	102
	Cost Behavior, Inventory, and Overhead	102
	General Widget Company	112
	Manager's Checklist for Chapter 6	122
7.	Cost Accounting in Action	123
	Why the Fuss?	123
	Job-Order and Process Costing Systems	125
	As Complex as ABC	132
	Standard Costing	139
	Static and Flexible Budgeting	143
	Manager's Checklist for Chapter 7	144
8.	Other Management Accounting Systems	146
	They Want It, but They Don't Want It--Yet They Still Need It	146
	Balanced Scorecard	150
	Hybrid Costing	156
	Just-in-Time Inventory	156
	Operation Costing Systems	159
	Environmental/Full Cost Accounting	160
	Target Costing	164
	Transfer Pricing	166
	Manager's Checklist for Chapter 8	168
9.	Taxation	170
	The Principal Taxes	173
	Corporate Income and Deduction Tax Issues	178
	Alternative Minimum Tax (AMT)	185
	Tax Credits	185
	Tax Practice	186
	Manager's Checklist for Chapter 9	188
10.	Advanced Fraud	189
	Fraud--Here, There, and Everywhere	190
	Sarbanes-Oxley Act	192
	Employment Trust Fund Fraud	193
	External Fraud	196
	Beginning Finance	199
	Manager's Checklist for Chapter 10	202
11.	Where Will All This New Knowledge Take You?	203
	A Story	206
	Key Concepts	208
	Manager's Checklist for Chapter 11	209
Appendix	Resources, Accounting for Managers	211
	Index	217