A guide to understand financial statements

The Agile Manager's Guide to Understanding Financial Statements
By Joseph T. Straub
view document online

- Who need Financial Statements
- Understand the Income Statement
- Understand the Balance Sheet
- Understand the Cash-Flow Statement
- Financial Analysis: Number-Crunching for Profit
- Inventory Valuation
- Depreciation

Management Accounting course - fundamentals

Management Accounting - Fundamentals of Accounting II
This course present the concept of using accounting in management to make financial decision.
1: Concepts and Principles
2: Partnerships
3: Corporations
4: Capital
5: Liabilities
6: Consolidation
7: Cash Flow Statement
8: Analysis
9: Managerial Accounting
10: Cost Accounting
11: Budgets
12: Unit Costs
13: Cost-volume-profit
14: Investment Analysis

Accounting basics definitions

Basic Accounting Model: Assets = Liabilities + Owners Equity

Some links to learn basic Accounting:
- Accounting reference sheet For Auxiliary & Local Fund Budget: doc
- Basic accounting reference from appgen.com
- Basic accounting terms: businesstown.com

Financial Accounting Principles Presentation ppt

Acct 201 Principles of Financial Accounting
Introduction to financial accounting concepts and principles
by Dr Fred Barbee

The online course contains:
1.Accounting Information for Business Decisions
Publisher's PowerPoint Presentation
2. Accounting Information System
Publisher's PowerPoint Presentation
Professor: Day One
Professor: Day Two
Professor: Day Three
3.Reporting and Preparing Financial Statements
Publisher's PowerPoint Presentation
Professor: Day One
Professor: Day Two
4.Reporting and Analyzing Merchandising Operations
Publisher's PowerPoint Presentation
Professor: Day One
Professor: Day Two
5.Reporting and Analyzing Inventories
Publisher's PowerPoint Presentation
Professor: Day One
Professor: Day Two
6.Reporting and Analyzing Cash and Internal Controls
Publisher's PowerPoint Presentation
Professor: Day One
Professor: Day Two
7. Reporting and Analyzing Receivables and Investments
Publisher's PowerPoint Presentation
Professor: Day One
Professor: Day Two
8.Reporting and Analyzing Long-Term Investments
Publisher's PowerPoint Presentation
Professor: Day One
Professor: Day Two
9.Reporting and Analyzing Current Liabilities
Publisher's PowerPoint Presentation
Professor: Day One
Professor: Day Two
10.Reporting and Analyzing Long-Term Liabilities
Publisher's PowerPoint Presentation
Professor: Day One
Professor: Day Two
Professor: Time Value of Money
11. Reporting and Analzing Equity
Publisher's PowerPoint Presentation
Professor: Day One
Professor: Day Two
12. Reporting and Analyzing Cash Flows
Publisher's PowerPoint Presentation
Professor: Day One
Professor: Day Two
13. Financial Statement Analysis and Interpretation
Publisher's PowerPoint Presentation

Assignments for Acct 201 Principles of Financial Accounting
Practice exams

Online free accounting Excel worksheet

- Free spreadsheet solutions for Small Businesses:
free excel templates downloads from microsheet.com
Expense Sheet, Time sheet, Invoice Sheet, Budget Sheet, Budget Planner, and Contact Schedule Manager

- Free Excel worksheets downloads from jaxworks.com
JaxWorks offers free Excel workbooks and spreadsheets for small business

- Free Excel Finance and Accounting Templates from dotxls.com:
Excel Accounting and Reporting Templates
Business Financial Planning and Financial Statements

Management Accounting free publications online

Statements on Management Accounting
Online documents from The Institute of Management Accountants (IMA)
The publications present the views of IMA regarding management accounting and financial management issues,
The statements documents contains the following subjects and categories:
*Leadership Strategies and Ethics
- IMA Statement of Ethical Professional Practice
- Managing Cross Functional Teams
- Developing Comprehensive Competitive Intelligence
- Managing Quality Improvements
* Technology Enablement
Understanding and Implementing Internet E-Commerce
* Strategic Cost Management
- Implementing Activity-Based Costing
- Measuring the Cost of Capacity
- Tools and Techniques for Implementing ABC/ABM
- Implementing Activity-Based Management
- Tools and Techniques for Implementing Target Costing
- Theory of Constraints (TOC) Management Systems Fundamentals
- Implementing Capacity Cost Management Systems
- Designing an Integrated Cost Management System for Driving Profit and Organizational Performance
- Implementing Target Costing
- Accounting for the Lean Enterprise
* Business Performance Management
- Effective Benchmarking
- Implementing Corporate Environmental Strategies
- Measuring and Managing Shareholder Value Creation
- Tools and Techniques for Implementing Integrated Performance Management Systems
- Implementing Integrated Supply Chain Management for Competitive Advantage
- Tools and Techniques for Implementing Integrated Supply Chain Management
- Lean Enterprise Fundamentals
- Implementing Process Management for Improving Products and Services
- Implementing Automated Workflow Management
- Value Chain Analysis for Assessing Competitive Advantage
- Tools and Techniques of Environmental Accounting for Business Decisions
* Enterprise Risk & Controls
-Enterprise Risk Management: Frameworks, Elements, and Integration
* Practice of Management Accounting
-Definition and Measurement of Direct Material Cost
-Understanding Financial Instruments
-The Accounting Classification of Workpoint Costs
-Redesigning the Finance Function
-Tools and Techniques for Redesigning the Finance Function
-Implementing Shared Service Centers

you can download PDF documents here, you have to fill a Request Form

GAAP for Regulated Utilites: Evolution and Impacts

Generally Accepted Accounting Principles for Regulated Utilites: Evolution and Impacts
Authors: David W. Wirick; John J. Gibbons
The National Regulatiry Research Institute
The Ohio State University

Abstract: This article describes the current debate over the ability of regulators to assure the reasonable probability of collection of deferred costs and provides background materials. It describes the development of generally accepted accounting principles (GAAP) and their significant impact on public utility regulation.
Keywords: Generally Accepted Accounting Principles for Regulated Utilities
1 The GAAP Debate
The Impact of Regulation on GAAP
The Impact of GAAP on Regulation
The Conflict of Interests
The Current Front
2 The Definition, Hierarchy, and Basic Principles of GAAP
The Definition of GAAP
The Hierarchy of GAAP
The FASB's Conceptual Framework Project
3 The Institutions and the Processes That Establish GAAP
The Roots of the FASB
The Organization of the FASB
The FASB Process
Criticisms of the FASB
Avenues of Access to the FASB
4 Accounting Standards Specific to Regulated Utilities
The Accounting Differences Between Utilities and Unregulated Businesses
5 The Impact of Federal Institutions on Regulatory Accounting
-The Establishment and Role of Standardized Accounts
6 The Role of State Public Service Commissions
-Accounting Values-Regulatory Values

Establishing Accounting Principles as Invariants of Financial Systems

Establishing Accounting Principles as Invariants of Financial Systems
Naftaly H. Minsky
Department of Computer Science, Rutgers University

Abstract: An enterprise that uses evolving software is susceptible to destructiveand even disastrous effects caused either by inadvertent errors, or by malicious attacks by the programmers employed to maintain this software.
It is my thesis that these perils of evolving software can often be tamed by ensuring that suitable overarching principles are maintained as invariants of the evolution of a given software system. In particular, it would be invaluable to ensure that a nancial system satis es the accounting principle of double-entry bookkeeping, throughout its evolutionary lifetime.
We define a concept of evolution-invariant, discuss its usefulness, and show how the above mentioned accounting principles can be established as such invariants.
Keywords: perils of software evolution, evolution-invariants, law governed interaction, accounting principles.

Cost Estimating Principles

By Robert I. Carr, Fellow, ASCE

Abstract: Estimates of materials, time, and costs provide information to some construction decisions in a similar way that financial accounting information provides to others. Financial statements are required to comply with generally accepted accounting principles, described in accounting literature to ensure information is accurate and useful to decisions.
This paper suggests general estimating principles that similarly guide good estimating practice. An estimate must be an accurate reflection of reality. An estimate should show only the level of detail that is relevant to decisions.
Completeness requires that it include all items yet add nothing extra. Documentation must be in a form that can be understood, checked, verified, and corrected. Attention must be given to the distinction between direct and indirect costs and between variable and fixed costs. Contingency covers possible or unforeseen occurrences. Both the expected value of possible identified events and the expectation that events will occur that cannot be identified in advance.
Keywords: estimating, principles, generally accepted, GAEP, construction, cost, cost engineering, contingency, direct cost, indirect cost, detailed estimate, project overhead

The role of accounting accruals

Accounting earnings and cash flows as measures of firm performance
The role of accounting accruals
Patricia M. Dechow Wharton School, University of Pennsylvania, Philadelphia,
In Journal of Accounting and Economics

This paper investigates circumstances under which accruals are predicted to improve earnings’ ability to measure firm performance, as reflected in stock returns. The importance of accruals is hypothesized to increase (i) the shorter the performance measurement interval, (ii) the greater the volatility of the firm’s working capital requirements and investment and financing activities, and (iii) the longer the firm’s operating cycle. Under each of these circumstances, cash flows are predicted to suffer more severely from timing and matching problems that reduce their ability to reflect firm performance. The results of empirical tests are consistent with these predictions.
Key words: Capital markets; Accruals; Operating cycle; Timing and matching problems;Summary measures of performance

Pdf file from Wharton School of the University of Pennsylvania

Accounting Periods and Methods free document

Accounting Periods and Methods
Download PDF
Publication of US Department of the Treasury,Internal Revenue Service

This publication explains the rules for accounting periods and accounting methods.
It contains:
Accounting Periods
Calendar Year
Fiscal Year
Short Tax Year
Accounting Improper Tax Year
Change in Tax Year
Periods and Partnerships, S Corporations, and Personal Service Corporations (PSCs)
Corporations (Other Than S corporations Methods and PSCs)
Accounting Methods

Cash Method
Accrual Method
Change in Accounting Method

Excel spreadsheets for small business

Easy to use package of Microsoft Excel spreadsheets built for small businesses accounting
Ready to use free Excel templates for small business bookkeeping containing a set of spreadsheets; After entering the weekly details of receipts and payment, The calculations and analyses will be automatically generated such as:
Cash-flow statements by week and year
The Balance Sheet
The Profit and Loss Account
Sales and Stock summaries
Drawing summary
Fixed Assets Register
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See Excel spreadsheets here:  online free accounting Excel worksheet

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