Financial Accounting Essentials You Always Wanted To Know

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Financial Accounting Essentials You Always Wanted To Know covers Financial Accounting concepts in concise and easy-to-understand manner for business professionals and non-finance graduates. This book includes Financial Accounting FUNDAMENTALS, SOLVED Examples, Important CONCEPTS & PRINCIPLES and Ample PRACTICE Exercises. The topics covered are:

  • Understanding of Financial Accounting Terms
  • Need, nature and purpose of Financial Statements
  • Audience of Financial Statements
  • Balance Sheet
  • Income Statement
  • Statement of Cash Flows

The book is divided into separate chapters, each dedicated to a single concept in Financial Accounting. The flow is such that it builds the reader’s understanding in stages. At the end of each chapter there are ample solved examples that help apply the concepts learnt in the chapter. This is followed by Practice Exercises that give an opportunity to the reader to apply the learnings from the chapter.

The reader gains the following competence after reading this book:

a) Understanding of individual items in Financial Statements

b) Reading and understanding Balance Sheet, Income Statement and Statement of Cash Flows

c) Preparing  Balance Sheet, Income Statement and Statement of Cash Flows

This Self Learning Management Series intends to give a jump start to working professionals, whose job roles demand to have the knowledge imparted in a B-school but haven’t got a chance to visit one. This series is designed to address every aspect of business from HR to Finance to Marketing to Operations, be it any industry.  Each book includes basic fundamentals, important concepts, standard and well-known principles as well as practical ways of application of the subject matter. The distinctiveness of the series lies in that all the relevant information is bundled in a compact form that is very easy to interpret.

BISAC

BUS001010 - Business & Economics : Accounting – Financia

BUS001040 - Business & Economics : Accounting – Managerial

BUS001000 - Business & Economics : Accounting - General

TAGS

accounting essentials, Accounting concepts, Financial accounting, self-learning series , management series, Accounting Systems, Financial Statements, Financial Statements Purpose , Balance Sheet,Revenue Recognition, Types of Expenses, Financial Accounting Standards, Miscellaneous Accounting Concepts ,Miscellaneous Accounting Conventions, Solved Examples, Practice Exercises
 
Table of Contents
Chapter 1. Accounting Systems
Financial Accounting Systems
Need for Financial Accounting Systems
Financial Statements
Purpose of Financial Statements
Financial Accounting Standards
Solved Examples
Practice Exercises
 
Chapter 2. Overview of Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Notes to the Financial Statements
Miscellaneous Accounting Concepts and Conventions
Solved Examples
Practice Exercises
 
Chapter 3. The Balance Sheet
Current Assets
Long-term Assets
Current Liabilities
Long-term Liabilities
Stockholders’ Equity
Transaction Analysis & Balance Sheet Creation
Solved Examples
Practice Exercises
 
Chapter 4. The Income Statement
Measures of Income
Types of Revenues
Types of Expenses
Earnings per Share (EPS) & Diluted EPS
Revenue Recognition
Expense Recognition
Expanded Accounting Equation
Transaction Analysis & Income Statement Creation
Solved Examples
Practice Exercises
 
Chapter 5. The Statement of Cash Flows
Categories of Cash Flow Activities
Cash Flow Pattern
Cash Flow Statement Preparation
Solved Examples
Practice Exercises