By Edward Fields
Annoyed by means of monetary statements? Dread the finances approach? "The necessities of Finance and Accounting for Nonfinancial Managers" is right here to aid. This re-creation of a enterprise vintage demystifies finance and accounting and offers managers the instruments they wish make higher judgements. jam-packed with clean insights and the most recent info on accounting rules, overseas accounting practices, and worldwide enterprise developments, the booklet unearths tips on how to: - comprehend the basics of monetary research, budgeting, and forecasting - Interpret stability sheets, income/cash circulation statements, and annual studies - Sift via conflicting information to discover the main suitable figures - find key information regarding rivals and providers - research variances and calculate break-even issues and different very important measures - and lots more and plenty extra accelerated case stories and perform workouts toughen the teachings and allow you to boost your abilities. think the impression should you seize not just what the numbers mean--but how one can use that intelligence to force your small business ahead.
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Extra info for The Essentials of Finance and Accounting for Nonfinancial Managers (3rd Edition)
Fixed Assets Remember that the gross book value amount on the balance sheet represents only those items that cost more than the threshold amount when purchased. The gross book value, therefore, may not include assets that cost less than $1,000 or $5,000 or $50,000, depending on what the company established as the threshold. Depreciation and net book value are essentially accounting 53 THE BALANCE SHEET conventions. The only business number that has real value as an analytical tool is the gross book value, which is a historical record of the amounts paid for the assets when they were purchased.
Inventory Companies are not required to provide the details of their inventory on their balance sheets, although some do. Knowing the component amounts of raw materials, work in process, and finished products is certainly helpful. These details are often not given on the company’s summary balance sheet. For public companies, however, there is a good chance that these amounts are provided in the footnotes to the financials, which appear in the 10-K and the annual report. Digging deep and learning the facts is a very valuable pursuit.
Other Current Liabilities, $58,000 This category includes all the short-term liabilities not included in any other current liability category. They are primarily the result of accruals. At any given point in time, the company owes salaries and wages to employees, interest on loans to banks, taxes, and fees to outsiders for professional services. For example, if the balance sheet date falls on a Wednesday, employees who are paid each Friday have worked for three days up to the balance sheet date.
The Essentials of Finance and Accounting for Nonfinancial Managers (3rd Edition) by Edward Fields