Accounting for Managers

by Webster, William

• ISBN13: 9780071421744
• ISBN10: 0071421742
• Edition: 1st
• Format: Paperback
• Copyright: 2003-12-08
• Publisher: McGraw Hill

Summary

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 Managersdefines 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.

Author Biography

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
How to Speak Accounting	1	(25)
The Three Questions	1	(1)
Visualize to Understand	2	(3)
The Accounting System	5	(1)
Accounting from the Bottom Up	6	(1)
Double Entry	7	(5)
Bookkeeping and Accounting	12	(3)
Financial Statements	15	(1)
Accounting Principles	16	(2)
The Fundamental Equations of Accounting	18	(2)
The Advantages of an Accounting System	20	(1)
A Few Important Details	20	(4)
Manager's Checklist for Chapter 1	24	(2)
Concepts and Principles, Checks and Balances	26	(19)
Closing the GAAP	28	(8)
Zen Accounting	36	(1)
Checks and Balances	37	(3)
Audits	40	(4)
Manager's Checklist for Chapter 2	44	(1)
Financial Statements	45	(19)
The Lemonade Stand	45	(2)
Load, Wash, Rinse, Spin, Dry	47	(2)
Past as Prologue	49	(1)
The Income Statement	50	(3)
Statement of Cash Flows	53	(4)
The Balance Sheet	57	(2)
A Delicate Balance: The Adjusting Entries	59	(4)
Manager's Checklist for Chapter 3	63	(1)
Financial Ratios	64	(19)
What Measures Performance?	64	(5)
Liquidity Ratios	69	(1)
Activity Ratios	70	(4)
Debt Ratios	74	(1)
Profitability Ratios	75	(3)
Putting It All Together	78	(4)
Manager's Checklist for Chapter 4	82	(1)
Management Accounting	83	(19)
Management Accounting---for the Future	84	(5)
Cost/Volume/Profit Analysis	89	(12)
Manager's Checklist for Chapter 5	101	(1)
Management Cost Accounting	102	(21)
Cost Behavior, Inventory, and Overhead	102	(10)
General Widget Company	112	(10)
Manager's Checklist for Chapter 6	122	(1)
Cost Accounting in Action	123	(23)
Why the Fuss?	123	(2)
Job-Order and Process Costing Systems	125	(7)
As Complex as ABC	132	(7)
Standard Costing	139	(4)
Static and Flexible Budgeting	143	(1)
Manager's Checklist for Chapter 7	144	(2)
Other Management Accounting Systems	146	(24)
They Want It, but They Don't Want It---Yet They Still Need It	146	(4)
Balanced Scorecard	150	(6)
Hybrid Costing	156	(1)
Just-in-Time Inventory	156	(3)
Operation Costing Systems	159	(1)
Environmental/Full Cost Accounting	160	(4)
Target Costing	164	(2)
Transfer Pricing	166	(2)
Manager's Checklist for Chapter 8	168	(2)
Taxation	170	(19)
The Principal Taxes	173	(5)
Corporate Income and Deduction Tax Issues	178	(7)
Alternative Minimum Tax (AMT)	185	(1)
Tax Credits	185	(1)
Tax Practice	186	(2)
Manager's Checklist for Chapter 9	188	(1)
Advanced Fraud	189	(14)
Fraud---Here, There, and Everywhere	190	(2)
Sarbanes-Oxley Act	192	(1)
Employment Trust Fund Fraud	193	(3)
External Fraud	196	(3)
Beginning Finance	199	(3)
Manager's Checklist for Chapter 10	202	(1)
Where Will All This New Knowledge Take You?	203	(8)
A Story	206	(2)
Key Concepts	208	(1)
Manager's Checklist for Chapter 11	209	(2)
Appendix: Resources, Accounting for Managers	211	(6)
Index	217