Accounting for Managers

William Webster9780071421744, 0071421742

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.

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Table of contents :
Accounting
for Managers……Page 4
Contents……Page 6
Preface……Page 10
Special Features……Page 11
Acknowledgments……Page 12
About the Author……Page 13
The Three Questions……Page 14
Visualize to Understand……Page 15
The Accounting System……Page 18
Accounting from the Bottom Up……Page 19
Double Entry……Page 20
Bookkeeping and Accounting……Page 25
Financial Statements……Page 28
Accounting Principles……Page 29
The Fundamental Equations of Accounting……Page 31
A Few Important Details……Page 33
Manager¡¯s Checklist for Chapter 1……Page 37
2. Concepts and Principles, Checks and Balances……Page 39
Closing the GAAP……Page 41
Zen Accounting……Page 49
Checks and Balances……Page 50
Audits……Page 53
Manager¡¯s Checklist for Chapter 2……Page 57
The Lemonade Stand……Page 58
Load, Wash, Rinse, Spin, Dry……Page 60
Past as Prologue……Page 62
The Income Statement……Page 63
Statement of Cash Flows……Page 66
The Balance Sheet……Page 70
A Delicate Balance: The Adjusting Entries……Page 72
Manager¡¯s Checklist for Chapter 3……Page 76
What Measures Performance?……Page 77
Liquidity Ratios……Page 82
Activity Ratios……Page 83
Debt Ratios……Page 87
Profitability Ratios……Page 88
Putting It All Together……Page 91
Manager¡¯s Checklist for Chapter 4……Page 95
5. Management Accounting……Page 96
Management Accounting ¡ª for the Future……Page 97
Cost/ Volume/ Profit Analysis……Page 102
Manager¡¯s Checklist for Chapter 5……Page 114
Cost Behavior, Inventory, and Overhead……Page 115
General Widget Company……Page 125
Manager¡¯s Checklist for Chapter 6……Page 135
Why the Fuss?……Page 136
Job- Order and Process Costing Systems……Page 138
As Complex as ABC……Page 145
Standard Costing……Page 152
Static and Flexible Budgeting……Page 156
Manager¡¯s Checklist for Chapter 7……Page 157
They Want It, but They Don’t Want It—Yet
They Still Need It……Page 159
Balanced Scorecard……Page 163
Just- in- Time Inventory……Page 169
Operation Costing Systems……Page 172
Environmental/ Full Cost Accounting……Page 173
Target Costing……Page 177
Transfer Pricing……Page 179
Manager¡¯s Checklist for Chapter 8……Page 181
9. Taxation……Page 183
The Principal Taxes……Page 186
Corporate Income and Deduction Tax Issues……Page 191
Tax Credits……Page 198
Tax Practice……Page 199
Manager¡¯s Checklist for Chapter 9……Page 201
10. Advanced Fraud……Page 202
Fraud ¡ª Here, There, and Everywhere……Page 203
Sarbanes- Oxley Act……Page 205
Employment Trust Fund Fraud……Page 206
External Fraud……Page 209
Beginning Finance……Page 212
Manager¡¯s Checklist for Chapter 10……Page 215
11. Where Will All This New Knowledge Take You?……Page 216
A Story……Page 219
Key Concepts……Page 221
Manager¡¯s Checklist for Chapter 11……Page 222
Web Sites……Page 224
Financial Ratios Worksheet from Chapter 4……Page 226
Index……Page 230