Accounting All-in-One For Dummies Extras

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Accounting All-In-One For Dummies Cheat Sheet

The accounting field covers a lot of ground, from setting up accounts and producing financial reports to budgeting for a business and preventing and detecting fraud. Quickly get up to speed on the basics [more…]

Prevent Fraud by Segregating Financial Duties

Segregation of duties is a fraud-prevention strategy that assigns various steps in a financial transaction to different people in the organization. For example, organizations that want to discourage fraud [more…]

How to Choose Accounts for a Chart of Accounts

A chart of accounts is a system used to number, classify, and group related financial transactions. The chart of accounts typically includes asset, liability, equity, revenue, and expense accounts, to [more…]

How to Create an Audit Trail to Facilitate Review of Accounting Records

An audit trail is a system to document and file evidence of your accounting transactions. A well-designed audit trail helps auditors conduct audits more efficiently in these three ways: [more…]

How to Adjust Accounting Records with Accruals and Deferrals

In accrual basis accounting, as opposed to cash basis accounting, you record revenue when it's earned, and expenses when they're incurred — regardless of when cash changes hands. [more…]

How to Make Your Business an Attractive Borrower

Although business financing has grown in complexity over the years, the two options you have to raise money to start or grow a business remain the same: [more…]

How to Assess Profitability of Investments with Present Value and Future Value

Accountants use present value (of cash inflows and outflows) and future value (of assets or cash) to gauge how profitable (or not) an investment is likely to be: [more…]

How to Manage Inventory Strategically to Improve Profit

When you review the balance sheet of a company, you may find that inventory represents one of the largest asset balances. All assets require some sort of additional spending. You may need to store, repair [more…]

How to Fix Bottlenecks That Increase Production Costs

Accountants can use process costing to analyze the cost at each stage in a production process and the overall cost of manufacturing the product. If a bottleneck occurs at any stage in the production process [more…]

Business Decisions: Consider Opportunity Costs when Allocating Capital

Every business operates with a limited amount of capital. A company can issue only so much equity (stock) by attracting investors. If a company borrows funds to operate, it eventually reaches a point at [more…]

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