Download e-book for kindle: Accounting DeMYSTiFieD by Leita Hart

By Leita Hart

ISBN-10: 0071770976

ISBN-13: 9780071770972

Accounting details and counsel you could take to the bank!

You won't understand first thing approximately debits, credit, and money ratios now—but if you end up performed with this booklet, possible juggle earnings and losses together with your eyes closed and browse any stability sheet like it is a strong novel.

Accounting DeMySTiFieD, moment version, is a curriculum-based, self-teaching consultant that makes studying accounting more straightforward than 1-2-3. With graphs, plain-English factors, and real-life examples, it starts off with the fundamentals—such as simple monetary phrases, stability sheets, and funds circulation statements—and eases you into the extra complex stuff, like adjusting entries, double access bookkeeping, revenue ratios, and liquidity.

Completely up to date and revised to hide finance phrases, theories, and top practices, Accounting DeMySTiFieD teaches you the fine details of accounting very quickly at all.

This quickly and straightforward consultant features:

  • A entire evaluation of...

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Extra resources for Accounting DeMYSTiFieD

Example text

Any funds that are left are given to them. If, after the company pays off the bank, only one dollar is left, the shareholders split the dollar and cry about their mediocre return. The Difference Between Preferred and Common Stock Preferred stockholders pay a premium for their stock and in return get special privileges. These privileges vary by company but commonly include more voting rights per share, a higher dividend rate, and first claim on the resources in case of liquidation. Common stockholders get the leftovers but usually pay a lower price for their stock.

This would indicate that we are using other people’s money—vendors’ money—as much as possible. Isn’t that tricky? We want our cash up front, but we prefer to pay our vendors later. This allows us to have as much cash on hand at all times as we can. ” principle and leaving cash out of the equation for a minute, if we have a small accounts receivable balance and a small inventory balance and a large accounts payable balance, we would necessarily have a small working capital balance. The Real Meaning of Working Capital Now let’s go beyond the textbook definition of working capital to the real meaning.

So, a true calculation of working capital should take out rainy-day cash and look only at the cash needed to operate on a regular basis and the resources tied up in receivables, inventory, and payables. If day-to-day cash needs are minimal, if receivables and inventory are minimal, and if payables are maximized, then working capital will be as small as possible. A small working capital balance is one key indication of a lean, mean operation. The Third Question the Balance Sheet Answers: How Liquid Is the Organization?

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Accounting DeMYSTiFieD by Leita Hart


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