Accounting For DummiesJohn A. Tracey, CPA

Chapters:Rasheedah (10)Dolores (12 & 15)Jason (12 & 14)Zarmina (16 & 17)

Chapter 10: Financial Planning, Budgeting & Control

Chapter 12: Getting a Financial Report Ready for Release

Recognizing Management’s Role

Keeping In Mind the Purpose of Financial Reporting

Staying on Top of Accounting and Financial Reporting Standards

Making Sure Disclosure Is Adequate

Footnotes: Nettlesome but needed

Other disclosures in financial reports:

Putting a Spin on the Numbers

Window dressing for fluffing up the cash balance

Sanding the rough edges off profit

Going public or keeping things Private: Reports from publicly owned companies, from private businesses

Dealing with Information Overload: Browsing based on your interests, Recognizing condensed versions, & Using other sources of business information

Statements of Changes in Owners’ Equity

Chapter 14: How Business Managers use a Financial Report

Seeking out problems and opportunities

Avoiding information overload

Gathering financial condition information

Inventory

Prepaid expenses

Accounts payable

Interest-bearing debt

Sales revenue and expenses

Managing operating cash flows

Chapter 15: Audits and Accounting Fraud

What’s in an Auditor’s Report: The clean (unqualified) opinion, other kinds of audit opinions

Who’s Who in the World of Audits

Standing Firm When Companies Massage the Numbers, or Not

Discovering Fraud, or Not

Who Audits the Auditors?

Chapter 16:Ten Accounting Tips for

Managers

Chapter 17: Ten Tips for Reading a Financial Report