Accounting For Fun and Profit

Index

Accounting

    accrual basis of, 49–58

    cash basis of, 21, 50

    for current liabilities, 97

    description of, 1

    economic concept of, 21

    information, 1

    introduction to, 1–13

    for payables, 98

    process of, 27–44

    system, 1, 41

    traditional methods, 17–20

Accounts receivable, 63–64

    aged, 71–74

Accounts payable, 35, 98

    description of, 35

Accrual accounting, 49–58

    expense, recognition of, 54–56

    revenue, recognition of, 50–54

Accrued expenses, 109

Accumulated depreciation, 94

Activity ratios, 181–182

Advances, 99

Adverse opinion, 12

Aged accounts receivable, 71–74

Amortization, 96

Annual depreciation, 89

Annual percentage rate (APR), 116

Annual report, 2

    covers of, 6

    and customers, 4

    and ...