... Standards
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Clearly, an accounting system needs to standardize the forms and procedures
for processing and recording all normal, repetitive transactions and should
control ... fraud in Chapters 7 and 15.
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Part I: Opening the Books on Accounting
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Keeping in Step with Accounting a...
... profit accounting a fascinating challenge. For one thing, you have to
understand how a business operates and its strategies in order to account for
its profit.
Making a profit and accounting for ... recording and reporting of profit; see Chapter 2 for
details about GAAP.
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So what’s the answer for a manager who receives poorly...
... a ready market for its stock
shares, which puts you between a rock and a hard place.)
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Part III: Accounting in Managing a Business
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Calculating ... to the grueling effort and
long hours to get the business off the ground and up and running. The
founders don’t get paid for their sweat equity, and it does not show up in the...
... are always
grounds for criticism.
22 8
Part III: Accounting in Managing a Business
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22 7
Chapter 11: Cost Concepts and Conundrums
Accounting versus ... or earnings before interest and income
tax expenses.
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Chapter 10: Financial Planning, Budgeting, and Control
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managers to st...
... be ready for serious
concentration.
Staying on Top of Accounting and
Financial Reporting Standards
Standards and requirements for accounting and financial reporting don’t stand
still. For many ... Managing a Business
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24 4
Part III: Accounting in Managing a Business
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The info...
... liabilities and owners‘ equity
1 32, 720
$136,650
199, 925
$336,575
$58,855
60,000
21 7, 720
$336,575
Figure 13 -2:
Balance
sheet
example for
a business.
27 8
Part IV: Preparing and Using Financial Reports
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and sensitive issues in reporting its financial affairs to the outside world.
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Part IV: Preparing and Using Financial Reports
20 _24 6009...
... Audits and Accounting Fraud
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Part IV: Preparing and Using Financial Reports
Exploring the Need for Audits
One reason for audits — especially for ... dressing and profit smoothing — two common exam-
ples of massaging the numbers — in Chapter 12.
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Part IV: Preparing and Using Financial Reports
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