1,001 Accounting Practice Problems For Dummies

457 Pages·2015·9.77 MB·English

by  Kenneth Boyd

1,001 Accounting Practice Problems For Dummies®
Published by: John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ
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Library of Congress Control Number: 2014954678
ISBN 978-1-118-85328-3 (pbk)
1,001 Accounting Practice Problems
For Dummies®
Visit www.dummies.com/cheatsheet/1001accounting
to view this book's cheat sheet.
Table of Contents
Cover
Introduction
What You’ll Find
Beyond the Book
Where to Go for Additional Help
Part I: The Questions
Chapter 1: Elements of Accounting
The Problems You’ll Work On
What to Watch Out For
Chapter 2: Financial Effects of Transactions
The Problems You’ll Work On
What to Watch Out For
Chapter 3: The Bookkeeping Cycle
The Problems You’ll Work On
What to Watch Out For
Chapter 4: The Bookkeeping Cycle: Adjusting and
Closing Entries
The Problems You’ll Work On
What to Watch Out For
Chapter 5: Understanding and Reporting Profit
The Problems You’ll Work On
What to Watch Out For
Chapter 6: Reporting Financial Conditions on the
Balance Sheet
The Problems You’ll Work On
What to Watch Out For
Chapter 7: Coupling the Income Statement and the
Balance Sheet
The Problems You’ll Work On
What to Watch Out For
Chapter 8: Reporting Cash Flows
The Problems You’ll Work On
What to Watch Out For
Chapter 9: Reporting Changes in Owners’ Equity
The Problems You’ll Work On
What to Watch Out For
Chapter 10: Choosing Accounting Methods
The Problems You’ll Work On
What to Watch Out For
Chapter 11: Profit Behavior Analysis
The Problems You’ll Work On
What to Watch Out For
Chapter 12: Manufacturing Cost Accounting
The Problems You’ll Work On
What to Watch Out For
Chapter 13: Investment Analysis Fundamentals
The Problems You’ll Work On
What to Watch Out For
Chapter 14: Financial Statement Analysis
The Problems You’ll Work On
What to Watch Out For
Part II: The Answers
Chapter 15: Answers and Explanations
About the Author
Cheat Sheet
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End User License Agreement
Introduction
This book is intended for anyone who needs to brush up on basic accounting
concepts. You may use this book as a supplement to material you’re learning
in an undergraduate accounting course. If you’re working as an accountant,
this book may help you with concepts that you need to review. The book
provides a basic level of accounting knowledge. After you understand these
concepts, you can move on to more complex accounting issues.
What You’ll Find
The 1,001 accounting questions are grouped into 14 chapters that cover
everything from absorption costing to warranty expense. The last chapter of
the book contains the answers, with detailed answer explanations. If you miss
a question, take a close look at the answer explanation. Understanding where
you went wrong will help you learn the concepts.
Beyond the Book
This product comes with a free online Cheat Sheet that helps you increase
your accounting knowledge. Check it out at
www.dummies.com/cheatsheet/1001accounting.
Where to Go for Additional Help
This book covers a great deal of accounting material. Because there are so
many topics, you may struggle in some areas. If you get stuck, consider
getting some additional help.
In addition to getting help from your friends, teachers, or coworkers, you can
find a variety of great materials online. If you have Internet access, a simple
search often turns up a treasure trove of information. You can also head to
www.dummies.com to see the many articles and books that can help you in
your studies.
1,001 Accounting Practice Problems For Dummies gives you just that —
1,001 practice questions and answers that increase your understanding and
give you an opportunity to apply accounting concepts. If you need more in-
depth study and direction for your accounting courses, you may want to try
out the following For Dummies products (or their companion workbooks), all
published by Wiley. There are For Dummies books that cover each of the
major areas of study in accounting:
Accounting For Dummies, by John A. Tracy: This book provides an
introduction to the most important accounting concepts. You’ll learn
about cash versus accrual accounting and how accounting transactions are
processed.
Cost Accounting For Dummies, by Ken Boyd: This book explains how
costs are identified and assigned to products and services. The text also
explains how companies price their products and how firms calculate
profit.
Financial Accounting For Dummies, by Maire Loughran: Use this
book to understand how accountants generate financial statements. This
book explains how accounting information is presented to investors,
lenders, and regulators.
Managerial Accounting For Dummies, by Mark P. Holtzman: Try this
book if you need to understand how management uses accounting to
make decisions. For example, managers need accounting data to decide
whether they should manufacture a component part themselves or buy the
part from an outside firm. This book explains how accounting is used
inside an organization.
Part I
The Questions
Visit www.dummies.com for free access to great For Dummies
content online.