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Accounting For Canadians For Dummies, 2nd Edition

ISBN: 978-1-118-22381-9
384 pages
December 2011
Accounting For Canadians For Dummies, 2nd Edition (1118223810) cover image


The only guide to accounting tailor-made for Canadians, now revised and updated

Job prospects are good for those looking to enter the Canadian accounting industry, and Accounting For Canadians, Second Edition is the essential resource for anyone interested in doing so. Packed with the information accountants and auditors who work in public and private industries and in government need to know in order to stay on the right side of Canadian accounting law, the book is also a must-have for salary accountants working for accounting, tax preparation, bookkeeping, and payroll services firms.

  • Essential reading since the new GAAP became mandatory for publicly accountable enterprises and government business enterprises at the beginning of 2011
  • Covers the new International Financial Reporting Standards
  • Addresses new standards for private enterprises that business leaders need to know
  • Still the only trade book that covers Canadian accounting practices

The ideal book for both accounting professionals as well as students who are currently working towards a degree in accounting or auditing services, Accounting For Canadians For Dummies provides the applicable and helpful advice that you need to succeed.

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Table of Contents

Introduction 1

Part I: Opening the Books on Accounting 11

Chapter 1: Accounting: The Language of Business, Investing, Finance, and Taxes 13

Chapter 2: Financial Statements and Accounting Standards 31

Chapter 3: Bookkeeping and Accounting Systems 53

Part II: Figuring Out Financial Statements 75

Chapter 4: Reporting Revenue, Expenses, and the Bottom Line 77

Chapter 5: Reporting Assets, Liabilities, and Owners' Equity 99

Chapter 6: Reporting Cash Flows 121

Chapter 7: Choosing Accounting Methods: Different Strokes for Different Folks 139

Part III: Accounting in Managing a Business 161

Chapter 8: Deciding the Legal Structure for a Business 163

Chapter 9: Analyzing and Managing Profit 181

Chapter 10: Financial Planning, Budgeting, and Control 203

Chapter 11: Cost Concepts and Conundrums 221

Part IV: Preparing and Using Financial Reports 243

Chapter 12: Getting a Financial Report Ready for Release 245

Chapter 13: How Lenders and Investors Read a Financial Report 267

Chapter 14: How Business Managers Use a Financial Report 289

Chapter 15: Audits and Accounting Fraud 307

Part V: The Part of Tens 319

Chapter 16: Ten Accounting Tips for Managers 321

Chapter 17: Ten Tips for Reading a Financial Report 331

Glossary 341

Index 353

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Author Information

John A. Tracy (Boulder, Colorado) is Professor of Accounting, Emeritus, at the University of Colorado in Boulder.

Cécile Laurin is Professor of Accounting at Algonquin College and is the coordinator of the professionalaccounting program.

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