By Jane Kelly, John A. Tracy CPA
Want to turn into an accountant? personal a small enterprise yet need assistance balancing your books? fearful approximately dealing with your funds lower than the cloud of the recession?
This hands-on workbook will get you up to the mark with the fundamentals of commercial accounting, together with examining monetary experiences, constructing budgets, controlling money move, and making clever monetary judgements. The query and resolution sections motivate you in finding your individual ideas to demanding accounting difficulties - and there is lots of house to scribble your workings out! Accounting Workbook For Dummies is the one publication that makes really mild paintings of the monetary basics that many businesspeople attempt to bluff their manner via each day.
Accounting Workbook For Dummies, united kingdom Edition covers:
Part I: company Accounting Basics
Chapter 1: components of industrial Accounting
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Whoops! This accounting equation doesn’t balance, and so clearly something’s wrong. The Liabilities, owner’s capital or some combination of both is £50,000 too low; or the two items on the right-hand side may be correct, in which case total assets are overstated £50,000. With an unbalanced equation such as this one, the accountant definitely needs to find the error or errors and make appropriate correcting entries. b. This accounting equation balances, but, wow! Look at the very small size of liabilities relative to assets.
Think of them as road signs on your journey through accounting. This icon marks the spot of an example question that explains and illustrates an important point. The answer follows the question. It’s a good idea to make sure that you understand the answer before attempting the additional questions on the topic. To get the most out of the example questions, don’t read the answer right away. First, try to answer the question, and then compare our answer with yours and how you got it. This icon points out helpful information that might save time to make you a better accountant.