Financial Accounting Essentials You Always Wanted to Know: 5th Edition
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A simple guide to understanding complex financial statements.
Financial Accounting Essentials You Always Wanted to Know is back with a new and updated 5th edition! This edition includes two new chapters on the Accounting Cycle. It is a starter pack for new managers and leaders who require a foundational understanding of financial accounting terms and who need to understand why preparing a financial statement is so necessary. After reading this book, managers will be equipped with the critical tools to document finances for shareholders and prepare financial statements for their organization
This book will help one to:
- Understand why financial accounting systems are necessary
- Learn financial accounting systems and terms
- Explore the importance of a Financial Statement
- Learn about the concept of Balance Sheet
- Understand what is an Income Statement
- Learn how to create a Statement of Cash Flows
This 5th Edition contains two new chapters on:
- Accounting Cycle
- End of Accounting Cycle
Each chapter provides clear examples of the financial accounting tools and includes practice examples to help train the reader in the usage of these critical tools.
Pages: 176 pages
Paperback (ISBN): 9781636510972
eBook (ISBN): 9781949395334
Hardback (Color): 9781636510996
Trim Size: 5.5” x 8.5”
Category: Business & Economics
Author: Kalpesh Ashar, Vibrant Publishers
1. Accounting Systems
1.1 Financial Accounting Systems
1.2 Need for Financial Accounting Systems
1.3 Financial Statements
1.4 Purpose of Financial Statements
1.5 Financial Accounting Standards
Solved Examples
Practice Exercise
Chapter Summary
2. The Accounting Cycle
2.1 Measuring Economic Activities
2.2 Increasing and Decreasing Accounts
Solved Examples
Practice Exercises
Discussion questions
Chapter Summary
3. End of Period Accounting Cycle
3.1 Cash vs. Accrual Accounting
3.2 Accruing Revenues and Incurring Expenses
3.3 Financial Statement Reporting
Solved Examples
Practice Exercises
Discussion questions
Chapter Summary
4. Overview of Financial Statements
4.1 Balance Sheet
4.2 Income Statement
4.3 Statement of Cash Flows
4.4 Notes to the Financial Statements
4.5 Miscellaneous Accounting Concepts and Conventions Solved
Examples
Practice Exercise
Chapter Summary
5. The Balance Sheet
5.1 Current Assets
5.2 Long-term Assets
5.3 Current Liabilities
5.4 Long-term Liabilities
5.5 Stockholders’ Equity
5.6 Transaction Analysis and Balance Sheet Creation
Case Study
Solved Examples
Practice Exercise
Chapter Summary
6. The Income Statement
6.1 Measures of Income
6.2 Types of Revenues
6.3 Types of Expenses
6.4 Earnings per Share (EPS) and Diluted EPS
6.5 Revenue Recognition
6.6 Expense Recognition
6.7 Expanded Accounting Equation
6.8 Transaction Analysis and Income Statement Creation
Case Study
Solved Examples
Practice Exercise
Chapter Summary
7. The Statement of Cash Flows
7.1 Categories of Cash Flow Activities
7.2 Cash Flow Pattern
7.3 Cash Flow Statement Preparation
Case Study
Solved Examples
Practice Exercise
Chapter Summary
Glossary
Kalpesh Ashar is a management consultant and corporate trainer holding an MBA (Dean’s Award Winner) from SPJIMR, one of Asia’s top business schools, and an Engineering degree with honors in Electronics. He has over 24 years of experience in large organizations and start-ups in Asia, USA, and Europe. Kalpesh has worked in several project management roles, like Senior Project Manager, Delivery Manager, and Program Manager. He is passionate about writing on management subjects. His techno-business background gives him a unique position to write on management topics that are easy to understand for non-MBA graduates. His books are authored in a simple to understand manner without unnecessary use of management jargons.
Vibrant Publishers is focused on presenting the best texts for learning about technology and business as well as books for test preparation. Categories include programming, operating systems and other texts focused on IT. In addition, a series of books helps professionals in their own disciplines learn the business skills needed in their professional growth.
Vibrant Publishers has a standardized test preparation series covering the GMAT, GRE and SAT, providing ample study and practice material in a simple and well organized format, helping students get closer to their dream universities.
The Self-Learning Management Series is designed to help students, new managers, career switchers, and entrepreneurs learn essential management lessons and covers every aspect of business, from HR to Finance to Marketing to Operations across any and every industry. Each book includes basic fundamentals, important concepts, and standard and well-known principles as well as practical ways of application of the subject matter.
This book contains charts, graphics, tables, summary notes and examples related to each chapter and is very informative. It also contains a glossary at the end of the book for students to comprehend the subjects covered. The systematic organization of accounting principles will help students conquer financial accounting.
-- Jangho Gil, Assistant Professor of Accounting, Monmouth University
If you are interested in learning about accounting and how to analyze a financial statement, this is a great book to start with. Accounting is an essential skill if you intend to go into business. By doing so, you are protecting yourself against unethical or bad accountants. This book has good insights and gets to the point.
-- Xihui Chen, Assistant Professor of Accounting and Finance, Heriot-Watt University
I enjoyed reading Financial Accounting Essentials and I feel that for an overview of the subject matter, this book was well-written. I liked how the book walked the readers through the concepts of accounting.
-- Dr Cheryl A Moore , Mercyhurst University, Assistant Professor of Accounting
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Customer Reviews
This book has been extremely helpful for understanding the core principles of financial accounting. The practical examples and exercises make it very user-friendly. I would recommend it to anyone looking to build their knowledge in this area.
A comprehensive and practical resource for learning financial accounting. The content is straightforward and the explanations are easy to follow. It is an excellent choice for self-study or as a course textbook.
A fantastic introduction to financial accounting! The book is well-structured and breaks down complex topics into digestible parts. Highly recommend it for anyone starting out in the field.
An excellent guide to financial accounting. It is very well written and covers all the basics in an easy-to-follow manner. Perfect for both students and professionals who want to refresh their knowledge.
This book provides a solid foundation in financial accounting principles. The explanations are clear, and the examples make the concepts easy to understand. A great resource for beginners.
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