By William Webster
Translated into sixteen languages! The reader-friendly, icon-rich Briefcase Books sequence is needs to examining for all managers at each point.
All managers, no matter if fresh to their positions or well-established within the organizational hierarchy, can use a bit "brushing up" every now and then. The skills-based Briefcase Books sequence is full of rules and methods to assist managers develop into extra able, effective, powerful, and beneficial to their organisations.
While they do not want the data of a CPA, all managers needs to nonetheless have a easy figuring out of ways funds is tracked and accounted for in a firm.
Using the sidebars and down-to-earth sort that has develop into the Briefcase Books trademark, Accounting for Managers defines crucial terms--from basic ledger to chart of accounts--and, extra importantly, discusses their purposes in daily company. It additionally introduces managers to renowned accounting software program courses and their use in monitoring and allocating cash within the association.
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Additional resources for Accounting for Managers (Briefcase Books Series)
Overhead All costs related to manufacturing or production process, including plant, equipment, supplies, depreciation, and utilities. Selling Costs related to sales operations. General and Administrative Costs incurred by the company other than production or sales, including staff, staff equipment, and staff supplies. Operating Income Income after subtracting the costs of production and operation. Dividends and Interest Income from investments unrelated to business operations. Interest Expense Interest paid on bank loans and other debt.
In this example, perhaps a small set design company, the Sales Revenue, the top line, is the money received from customers for the product. There are direct manufacturing costs involved and company records expenses for the raw material, the labor of the people who build the sets, and the overhead associated with manufacture. This overhead might be the shop where construction takes place as well as utility, insurance, and other costs associated with the defined work. Subtract these costs from Revenue to yield the Gross Margin.
However, you gain a lot by setting up a simple, appropriate accounting system. The reports an accounting system generates let you do these things much more easily than you can if you just keep a checkbook. • Find errors. If a transaction is missing or entered wrong, the books will be out of balance. • Plan for the future. Seeing the gozinta, the gozouta, and what you’ve got, you can figure out what you’re going to need—when to borrow money and what work to do to improve your business. • Stop fraud and theft.