Accounting For Dummies John A. Tracey, CPA Chapters: Rasheedah (10) Dolores (12 & 15) Jason (12 & 14) Zarmina (16 & 17)

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Presentation transcript:

Accounting For Dummies John A. Tracey, CPA Chapters: Rasheedah (10) Dolores (12 & 15) Jason (12 & 14) Zarmina (16 & 17)

Chapter 10: Financial Planning, Budgeting & Control Defining the Benefits of BudgetingBudgeting Profit and Cash FlowKeeping Budgeting in PerspectiveStaying Flexible with Budgets

Chapter 12: Getting a Financial Report Ready for Release Recognizing Management’s Role Recognizing Management’s Role Keeping In Mind the Purpose of Financial Reporting Keeping In Mind the Purpose of Financial Reporting Staying on Top of Accounting and Financial Reporting Standards Staying on Top of Accounting and Financial Reporting Standards Making Sure Disclosure Is Adequate Making Sure Disclosure Is Adequate Footnotes: Nettlesome but needed Footnotes: Nettlesome but needed Other disclosures in financial reports: Other disclosures in financial reports: Putting a Spin on the Numbers Putting a Spin on the Numbers Window dressing for fluffing up the cash balance Sanding the rough edges off profit Going public or keeping things Private: Reports from publicly owned companies, from private businesses Dealing with Information Overload: Browsing based on your interests, Recognizing condensed versions, & Using other sources of business information Statements of Changes in Owners’ Equity

Chapter 14: How Business Managers use a Financial Report Seeking out problems and opportunities Seeking out problems and opportunities Avoiding information overload Avoiding information overload Gathering financial condition information Gathering financial condition information Inventory Inventory Prepaid expenses Prepaid expenses Accounts payable Accounts payable Interest-bearing debt Interest-bearing debt Sales revenue and expenses Sales revenue and expenses Managing operating cash flows Managing operating cash flows

Chapter 15: Audits and Accounting Fraud What’s in an Auditor’s Report: The clean (unqualified) opinion, other kinds of audit opinions What’s in an Auditor’s Report: The clean (unqualified) opinion, other kinds of audit opinions Who’s Who in the World of Audits Who’s Who in the World of Audits Standing Firm When Companies Massage the Numbers, or Not Standing Firm When Companies Massage the Numbers, or Not Discovering Fraud, or Not Who Audits the Auditors?

Chapter 16: Ten Accounting Tips for Managers

Chapter 17: Ten Tips for Reading a Financial Report