Accounting All-in-One For Dummies, with Online Practice, 2nd Edition

Book 4

Preparing Income Statements and Balance Sheets

Contents at a Glance

1. Chapter 1: Brushing Up on Accounting Standards
   1. Exploring the Origins of Accounting Standards
   2. Recognizing the Role of the American Institute of Certified Public Accountants (AICPA)
   3. Checking Out the U.S. Securities and Exchange Commission (SEC)
   4. Getting to Know the Financial Accounting Standards Board (FASB)
2. Chapter 2: Preparing an Income Statement and Considering Profit
   1. Understanding the Nature of Profit
   2. Choosing the Income Statement Format
   3. Deciding What to Disclose in the Income Statement
   4. Examining How Sales and Expenses Change Assets and Liabilities
   5. Considering the Diverse Financial Effects of Making a Profit
   6. Reporting Extraordinary Gains and Losses
   7. Correcting Common Misconceptions about Profit
3. Chapter 3: Assessing the Balance Sheet’s Asset Section
   1. Homing in on Historic Cost
   2. Discovering What Makes an Asset Current
   3. Keeping Track of Noncurrent (Long-Term) Assets
   4. Exploring the Asset Section of the Balance Sheet
4. Chapter 4: Digging for Debt in the Balance Sheet’s Liabilities Section
   1. Seeing How Businesses Account for Liabilities
   2. Keeping Current Liabilities under Control
   3. Planning for Long-Term Obligations
   4. Accounting for Bond Issuances
5. Chapter 5: Explaining Ownership in the Equity Section of the Balance Sheet
   1. Understanding How Owner Equity Varies among Business Entities
   2. Distinguishing between Two Types of Capital Stock
   3. Defining Paid-In Capital
   4. Recording Retained Earnings
   5. Spotting Reductions to Stockholders’ ...