Vibrant Publishers

Financial Accounting Essentials You Always Wanted To Know

Financial Accounting Essentials You Always Wanted To Know: 4th Edition prepares new managers and leaders with the foundation to understand financial accounting, a critical tool to document finances to shareholders, government tax authorities and other critical parts of the business ecosystem. The chapters follow in a logical flow to describe the key components of financial accounting, including:
•    Why are financial accounting systems necessary
•    Financial accounting systems and terms
•    The Balance Sheet
•    The Income Statement
•    The Statement of Cash Flows
Each chapter provides clear examples of the financial accounting tools and includes practice examples to help train the reader in the usage of these critical tools.
Financial Accounting Essentials is part of the Self-Learning Management Essentials series that helps working professionals moving into management roles.
About the Author
Kalpesh Ashar is a management consultant and corporate trainer holding an MBA (Dean’s Award Winner) from SPJIMR, one of Asia’s top business schools, and an Engineering degree with honors in Electronics. He has over 21 years of experience in large organizations and start-ups in Asia, USA, and Europe.
Kalpesh has worked in several project management roles, like Senior Project Manager, Delivery Manager, and Program Manager. He is passionate about writing on management subjects. His techno-business background gives him a unique position to write on management topics that are easy to understand for non-MBA graduates. His books are authored in a simple to understand manner without unnecessary use of management jargons.
About Vibrant Publishers
Vibrant Publishers is focused on presenting the best texts for learning about technology and business as well as books for test preparation. Categories include programming, operating systems and other texts focused on IT. In addition, a series of books helps professionals in their own disciplines learn the business skills needed in their professional growth.
Vibrant Publishers has a standardized test preparation series covering the GMAT, GRE and SAT, providing ample study and practice material in a simple and well organized format, helping students get closer to their dream universities.

129 printed pages
Original publication



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    Александр Чикиткинhas quoted2 years ago
    the expense is matched with revenue and recognized together
    Александр Чикиткинhas quoted2 years ago
    there are two criteria that help determine when to recognize revenue. They are as below:
    a) The promised work must be done before revenue is recognized
    b) Cash collection should be reasonably assured before revenue is recognized
    Александр Чикиткинhas quoted2 years ago
    Revenue Recognition
    There will be transactions that continue for long, starting from order generation to receiving the payment. But this period could see several income statements being created. In such a case it becomes difficult to decide whether the revenue for that transaction should be included (recognized) in the income statement. Following two criteria are used to determine when to recognize revenue:
    a) Before recognizing revenue, the promised work must be done, meaning that the goods should have been delivered or the service must have been provided
    b) Before recognizing revenue, cash must have been collected, or, at least, collection must be reasonably assured

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