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Accounting for the Numberphobic: A Survival Guide for Small Business Owners
by Dawn FotopulosWhy do so many business owners dread looking at the numbers? They make excuses...They don't have time...That's what the accountant is for....But the simple truth is that no one else will ever be as invested in their company as they are--and they need to take control. As a small-business owner, financial statements are your most important tools--and if you don't know how to read them and understand their implications, you cannot possibly steer your business successfully. Accounting for the Numberphobic demystifies your company's financial dashboard: the Net Income Statement, Cash Flow Statement, and Balance Sheet. The book explains in plain English how each measurement reflects the overall health of your business--and impacts your decisions. You will discover: How your Net Income Statement is the key to growing your profits * How to identify the break-even point that means your business is self-sustaining * Real-world advice on measuring and increasing cash flow * What the Balance Sheet reveals about your company's worth * And more Illustrated with case studies and packed with practical action steps, this indispensable guide will put your business on the path to profitability in no time.
Accounting for the Public Interest: Perspectives on Accountability, Professionalism and Role in Society (Advances in Business Ethics Research #4)
by Steven MintzThis volume explores the opportunities and challenges facing the accounting profession in an increasingly globalized business and financial reporting environment. It looks back at past experiences of the profession in attempting to meet its public interest obligation. It examines the role and responsibilities of accounting to society including regulatory requirements, increased emphasis on corporate social responsibility, accounting fraud and whistle-blowing implications, internationalization of public interest obligations, and providing the education needed to be successful. The book incorporates an ethical dimension in making these assessments. Its focus is a conceptual, theoretical one drawing on classical philosophy, the sociology of professions, economic theory, and the public interest dimension of accountants as professionals. The authors of papers are long-time contributors to the annual symposium on Research in Accounting Ethics sponsored by the Public Interest Section of the AAA.
Accounting for Value
by Stephen PenmanDespite their skills and extensive training, many analysts fail to recognize the basics of good accounting and its deployment in valuation. By focusing on abstract concepts such as measurement basis, exit values, and entity concepts, they miss out on the benfits of a practical approach to valuation. While modern finance has advanced important concepts, including diversification and risk measurement, effective and efficient accounting merges these tools with fundamental analysis to divine a true account of value.Launching an innovative examination of equity valuation as a matter of accounting, Stephen Penman embraces the commonsense ideas of fundamentalists& mdash;good firms can be bad guys, the risk in investing is the risk of paying too much, ignore information at your own peril, beware of paying too much for growth& mdash;and combines them with the principles of modern finance to reestablish the parameters of good analysis. The result anchors the investor, guards against behavioral biases, and challenges speculation. Penman compares fair-value accounting and historical-cost accounting; describes the anchoring of cash flows, book value, and earnings; and details the failure of modern finance to correctly assess value. He concludes with fundamental strategies for accounting for value and a bold proposal for assessing the cost of capital. Altogether, Penman's text is an essential tool for interpreting the greatest financial challenges of our time: the stock market bubble of the 1990s, the credit crisis of 2008, and accounting in the wake of ongoing market instability.
Accounting for Value (Columbia Business School Publishing Ser.)
by Stephen PenmanAccounting for Value teaches investors and analysts how to handle accounting in evaluating equity investments. The book's novel approach shows that valuation and accounting are much the same: valuation is actually a matter of accounting for value. Laying aside many of the tools of modern finance-the cost-of-capital, the CAPM, and discounted cash flow analysis-Stephen Penman returns to the common-sense principles that have long guided fundamental investing: price is what you pay but value is what you get; the risk in investing is the risk of paying too much; anchor on what you know rather than speculation; and beware of paying too much for speculative growth. Penman puts these ideas in touch with the quantification supplied by accounting, producing practical tools for the intelligent investor.Accounting for value provides protection from paying too much for a stock and clues the investor in to the likely return from buying growth. Strikingly, the analysis finesses the need to calculate a "cost-of-capital," which often frustrates the application of modern valuation techniques. Accounting for value recasts "value" versus "growth" investing and explains such curiosities as why earnings-to-price and book-to-price ratios predict stock returns. By the end of the book, Penman has the intelligent investor thinking like an intelligent accountant, better equipped to handle the bubbles and crashes of our time. For accounting regulators, Penman also prescribes a formula for intelligent accounting reform, engaging with such controversial issues as fair value accounting.
Accounting Framework, Financial Statements, and Some Accounting Concepts
by William J. Bruns Jr.Introduces the accounting framework, basic financial statements, and eleven accounting concepts.
Accounting Fraud: Bilanzmanipulationen praxisorientiert verstehen und mit Datenanalysen frühzeitig erkennen, aufklären und verhindern
by Carola Rinker Patrick Müller Frank MünkerDieses Buch beschreibt, welche typischen Fälle von Bilanzmanipulationen auch im Alltag von Konzernen und KMUs vorkommen können, durch Mitarbeiter und Dienstleister. Das Bewusstsein für Accounting Fraud ist oft nicht vorhanden. In diesem Buch werden branchentypische Besonderheiten der Bilanz und GuV aufgegriffen. Die Autoren erläutern verschiedene Manipulationsarten und zeigen, wie diese aufgedeckt werden können. Zudem wird erklärt, welche Maßnahmen Unternehmen zur Früherkennung und Prävention ergreifen können, beispielsweise durch den Einsatz forensischer Datenanalyse. Dieses Buch veranschaulicht, wie wichtig es für Praktiker ist, sich dem Thema zu widmen, auch anhand von Praxisbeispielen.
Accounting Fraud at Tesco Stores (A)
by Jonas Heese Julia Kelley Suraj SrinivasanThis case describes the accounting fraud at Tesco Stores Limited (TSL), which was discovered by a senior accountant in TSL's finance department. The accountant was concerned about TSL's handling of commercial income, which, according to the accountant, overstated Tesco's profit by an estimated 246 million. Beyond the accounting issue, the case describes Tesco's organizational and cultural shortcoming causing this problem, how Tesco's new CEO Dave Lewis responded to the allegations, and how the court held the Tesco accountable for its fraudulent accounting. In September 2014, Amit Soni, a senior accountant in Tesco Stores Limited's (TSL) finance department filed a report with Tesco's legal team. Soni was concerned about TSL's handling of commercial income. According to the accountant's allegations, TSL employees had been inflating commercial income to meet the division's financial targets, causing Tesco's projected trading profit for the six months ended August 23, 2014 to be overstated by an estimated 246 million. Tesco's legal team had quickly referred the issue to CEO Dave Lewis, who had started in the role just a few weeks earlier, on September 1. Lewis had to decide how to respond to these allegations. Did the allegations have merit and what are the causes for the accounting violations? Should managers be removed if Tesco determined that the allegations had merit? What were the legal consequences for Tesco and how should Tesco's organizational structure and culture evolve?
Accounting Fraud at WorldCom
by David Kiron Robert S. KaplanThe principal players in WorldCom's accounting fraud included CFO Scott Sullivan, the General Accounting and Internal Audit departments, external auditor Arthur Andersen, and the board of directors. The case provides sufficient detail to allow for a full discussion of the pressures that lead executives and managers to "cook the books," the boundary between earnings smoothing or management and fraudulent reporting, the role for internal control systems and internal audit to prevent or rapidly detect accounting fraud, the expectations about governance processes performed by external auditors and the board of directors, and the pressure and consequences when middle managers follow orders that they know are wrong. Written from the public record, the case contains numerous quotes from an individual involved in the WorldCom fraud that were reported by the Investigative Committee and Wall Street Journal articles about several of the individuals caught up in the situation.
Accounting From the Outside: The Collected Papers of Anthony G. Hopwood (Routledge Library Editions: Accounting)
by Anthony G. HopwoodThe 43 papers in this collection, originally published from 1972 to 1987 delve into accounting, observing and exploring its functioning. They construct a basis for interrogating it in use and indeed they attempt to account for accounting. The author seeks to understand accounting, to appreciate what it is, what it does and how it does it, examining it from without rather than from within.
The Accounting Game: Basic Accounting Fresh from the Lemonade Stand
by Darrell Mullis Judith OrloffA clear, easy-to-understand explanation of key financial accounting basics.The world of accounting can be intimidating. Whether you're a manager, business owner, aspiring entrepreneur, or taking a college course in accounting, you'll find yourself need to know the basics...but baffled by complicated accounting books. What if learning accounting could be as simple and fun as running a child's lemonade stand? It can.The Accounting Game presents financial information in a format so simple and so unlike a common accounting textbook, you may forget you're learning skills that will help you get ahead! Using the world of a child's lemonade stand to teach the basics of managing your finances, this book makes a dry subject fun and understandable. As you run your stand, you'll begin to understand and apply financial terms and concepts like assets, liabilities, earnings, inventory and notes payable, plus:Interactive format gives you hands-on experienceColor-coded charts and worksheets help you remember key termsStep-by-step process takes you from novice to expert with easeFun story format speeds retention of essential conceptsDesigned to apply what you learn to the real worldThe revolutionary approach of The Accounting Game takes the difficult subjects of accounting and business finance and makes them something you can easily learn, understand, remember and use!Praise for The Accounting Game:"The game approach makes the subject matter most understandable. I highly recommend it to anyone frightened by either numbers or accountants."—John Hernandis, Director of Corporate Communications, American Greetings"Fantastic Learning Tool...Don't let this book title fool you. It is not an oversimplification of accounting and financial principles. It is, however, a serious and very effective examination of a very small but progressively complex business. There are not many books available on the market that make a complex and dry subject understandable and even fun. This book successfully does just that."—Amazon Reviewer
Accounting Guide: Brokers and Dealers in Securities
by AicpaThe 2017 edition gives up-to-date industry-specific guidance needed to be able to tailor operations with the most current standards and regulations. Included are new best practices and interpretive guidance to industry-specific considerations, this guide has you covered. This edition offers “best practice” discussion of industry-specific issues such as fair value accounting and related disclosures, as well as compliance with regulatory requirements. Further, new guidance on initial margin has been approved in accordance with applicable AICPA requirements.
Accounting Guide: Brokers and Dealers in Securities 2018 (AICPA)
by AicpaThe 2018 edition gives up-to-date industry-specific guidance needed to be able to tailor operations with the most current standards and regulations. Included are new best practices and interpretive guidance to industry-specific considerations, this guide has you covered. <P><P> This edition offers “best practice” discussion of industry-specific issues such as fair value accounting and related disclosures, as well as compliance with regulatory requirements. Further, new guidance on initial margin has been approved in accordance with applicable AICPA requirements.
Accounting Guide: Brokers and Dealers in Securities 2019 (AICPA)
by AicpaIt is critical to understand the complexities of the specialized accounting and regulatory requirements needed for the broker-dealer industry. This comprehensive guide has been designed to be beneficial for a wide range of professionals within the broker-dealer industry. Updates to this edition are to conform the content to current accounting standards and regulatory requirements. The updates include: SEC Release No. 34-86073, Amendment to Single Issuer Exemption for Broker-Dealers; ASU No. 2018-09, Codification Improvements; and, SEC Release Nos. 33-10532; 34-83875; IC-33203, Disclosure Update and Simplification. In addition, this edition features a new example disclosure note for revenue from contracts with customers, which has been added to the guide's illustrative financial statements and footnote disclosures.
Accounting History 1976-1986: An Anthology (Routledge Library Editions: Accounting)
by Peter Boys John FreearThe journal Accounting History was published in eight volumes intermittently between 1976 and 1986. It had a relatively small circulation and this re-issue of its anthology provides the opportunity for many of the articles which appeared in the journal over the years to once again reach a wider audience. The volume begins with items of a general nature, covering the importance of preserving accounting records and accounting history in general. Subsequent categories deal with the methodology of historical accounting research, government accounting, taxation, bankruptcy, professional accountancy and accounting theory, as well as auditing and management accounting.
Accounting History from the Renaissance to the Present: A Remembrance of Luca Pacioli (Routledge New Works in Accounting History)
by T. A. Lee R. H. Parker A. BishopFirst published in 1996. Routledge is an imprint of Taylor & Francis, an informa company.
Accounting I Essentials
by Duane MilanoREA's Essentials provide quick and easy access to critical information in a variety of different fields, ranging from the most basic to the most advanced. As its name implies, these concise, comprehensive study guides summarize the essentials of the field covered. Essentials are helpful when preparing for exams, doing homework and will remain a lasting reference source for students, teachers, and professionals. Accounting I includes accounting principles, the accounting cycle, adjusting entries, closing entries, worksheet procedures, accounting for a merchandising operation, internal control and specialized journals, cash, receivables, inventory, property, plants and equipment, and long-term assets.
Accounting I Essentials
by Duane MilanoREA’s Essentials provide quick and easy access to critical information in a variety of different fields, ranging from the most basic to the most advanced. As its name implies, these concise, comprehensive study guides summarize the essentials of the field covered. Essentials are helpful when preparing for exams, doing homework and will remain a lasting reference source for students, teachers, and professionals. Accounting I includes accounting principles, the accounting cycle, adjusting entries, closing entries, worksheet procedures, accounting for a merchandising operation, internal control and specialized journals, cash, receivables, inventory, property, plants and equipment, and long-term assets.
Accounting in Australia: Historical Essays (Routledge Library Editions: Accounting)
by Robert H. ParkerThe history of accounting in Australia is of interest because it provides an opportunity to examine how accounting techniques, institutions and concepts have been imported and adapted to an environment similar to, but not exactly the same as that of the exporters. The book emphasizes private sector accounting over public sector accounting which is a reflection of the available literature but not of the real world of Australian accounting and is divided into 7 sections: Early Accounting Records The Financial Year Corporate Financial Reporting Audit Professional Accountancy Accounting Literature Biographies and Bibliographies
Accounting in Eighteenth Century Scotland (Routledge Library Editions: Accounting History #3)
by Michael J. MephamThis book, first published in 1988, is a study of the development of accounting in eighteenth century Scotland. The investigation is organised around a survey of early Scottish accounting texts, an analysis of their exposition of the Italian method of book-keeping and their treatment of certain selected topics. The aim is to evaluate the contribution that these Scottish accountants made to the development of a profession.
Accounting in France: Historical Essays/Etudes Historiques (Routledge Library Editions: Accounting)
by Yannick Lemarchand R. H. ParkerThis volume illustrates the research not only of French accountants (Colasse, Durand, Jouanique, Lemarchand, Nikitin, Richard, Tessier) but also the work of Belgian authors writing in French (Stevelinck, Haulotte) and of French non-accountants (de Swarte, Durdilly, Sauvy). The work of British and North American academics, writing in English on French accounting history is also illustrated from the 1930s (Howard, Edwards), through to the 1960s (Parker) and the more recent research of Standish, Fortin and Bhimani. The contributions to this volume have been arranged both chronologically and thematically as follows: the earliest business accounting records; the first French accounting authors; Colbert, Savbary and the Ordonnance de Commerce; the eighteenth and nineteenth centuries; cost accounting; the national accounting plan; national income accounting; government accounting and accounting theory. An abstract of each contribution is given in both English and French.
Accounting in Networks (Routledge Studies in Accounting)
by Håkan Håkansson Kalle Kraus Johnny LindAccounting in Networks is the first book that in a comprehensive way covers the emerging issue of accounting and control in horizontal relations across legally independent organizations. During the last 20 years, organisations have shown an increased interest in collaborations that cross company boundaries. New organisational forms, such as alliances, partnerships, joint ventures, outsourcing and networks have received increased attention. This development has pushed management accounting researchers into examining the lateral effects of accounting. This book examines these lateral effects on accounting, and creates a comprehensive summary of what has been achieved so far and what interesting developments will occur in the coming ten years. The book covers a variety of inter-organizational settings – dyads, networks, joint ventures, public sector – and the roles of accounting therein. It also deals with specific inter-organizational accounting techniques – customer accounting, target costing and open book accounting – which companies use to manage in a world of inter-organizational relationships and networks. The book also covers different theoretical perspectives – transactional cost economics, the industrial-network approach, actor-network theory, institutional theory – on accounting in networks. Each chapter focus on a specific angle of accounting in networks, assess theoretical and empirical evidence, summarize the current position/debate and discuss promising avenues for future research.
Accounting in Politics: Devolution and Democratic Accountability (Routledge Studies In Accounting Ser. #Vol. 5)
by Mahmoud Ezzamel Noel Hyndman Åge Johnsen Irvine LapsleyThis book looks at the effectiveness of the 1999 restructuring of the UK through the establishment of the Scottish Parliament and the Assemblies for Northern Ireland and Wales, considering the process of devolution and its consequences on the key mechanisms of accounting and democratic accountability. Many of the chapters in this book examine wheth