The Handy Accounting Answer Book

Everyone needs to budget money and manage costs, whether for groceries and everyday purchases, rent or mortgage, education, retirement, or even a business.

Like it or not, accounting infuses most everything in life. From credits, debits, and basic bookkeeping to getting the most out of tax deductions and from reading or creating a business’ financial statement to better understanding accounting lingo, The Handy Accounting Answer Book can help anyone acquire the skills to start or run a business, plan for retirement, set money aside for a big purchase, establish everyday budgets, improve their money management, and generally help make better financial decisions.

Find out about the concepts and assumptions behind the Generally Accepted Accounting Principles. Understand tax returns and maximize write-off. Manage retirement account statements and find ways to improve their results. Learn how to create a business plan, financial ratios, cost of goods, depreciation, tax planning, financial audits, year-end closing the books, and other terms and rules. Just as a good cook needs to understand how different ingredients and flavors work together in a recipe, a good business person needs to understand how various transactions impact the financial reports of the business.

Covering accounting fundamentals, concepts, and jargon, The Handy Accounting Answer Book is for everyone who wants to understand the language of money and business. Using basic terms and simple examples to illustrate complex accounting topics, this handy primer answers nearly 800 questions and offers fun facts covering the basics of accounting, including What is the earliest known form of accounting? What are the elements of financial statements? How many different types of financial statements are there? How is operating income different from net income? How do you know if a company is doing well? What is a journal entry? What is the fraud triangle? How is depreciation expense calculated and recorded? What are the employer payroll taxes? How is a budget prepared? What is the time value of money? What is one of the first things that must be done when starting a small business? What are some of the key components of a business plan? Can a business be successful if it doesn’t make a profit? What is a CPA?

For anyone planning for a business, retirement, college, or life in general, The Handy Accounting Answer Book also includes a glossary of commonly used terms to cut through the jargon, a helpful bibliography, appendices providing examples of accountancy practices, and an extensive index, adding to its usefulness. It will help anyone’s financial intelligence, maximize profits, and improve bottom lines!