By Edward Fields
Annoyed by means of monetary statements? Dread the finances approach? "The necessities of Finance and Accounting for Nonfinancial Managers" is right here to assist. This re-creation of a company vintage demystifies finance and accounting and provides managers the instruments they want make greater judgements. full of clean insights and the newest details on accounting laws, overseas accounting practices, and worldwide enterprise developments, the publication finds easy methods to: - comprehend the basics of monetary research, budgeting, and forecasting - Interpret stability sheets, income/cash circulation statements, and annual reviews - Sift via conflicting facts to discover the main proper figures - find key information regarding opponents and providers - research variances and calculate break-even issues and different very important measures - and masses extra accelerated case reviews and perform routines make stronger the teachings and allow you to boost your talents. think the impression if you happen to take hold of not just what the numbers mean--but how one can use that intelligence to force your online business ahead.
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Additional info for The Essentials of Finance and Accounting for Nonfinancial Managers (3rd Edition)
Long-Term Debt $ 300 $ 350 18. Total Liabilities $1,198 $ 969 19. Preferred Stock 150 150 20. Common Stock 497 497 21. Retained Earnings 1,357 1,247 (45) 22. Stockholders’ Equity $2,004 $1,894 23. Total Liabilities and Stockholders’ Equity $3,202 $2,863 25 THE BALANCE SHEET ? Reserves ? Prepaid Expenses Let’s review one example. Suppose a company buys equipment (makes a capital expenditure) for $100,000. The company expects the equipment to last (provide benefits) for five years. This is called the equipment’s estimated useful life.
Double-declining balance ? Sum of the years’ digits ? Per-unit calculation Double-Declining-Balance. Notice that in straight-line depreciation, depreciation expense for an asset with a five-year life is 20 percent (100 percent divided by 5 years) times the gross book value. ) In the double-declining-balance method, the percentage is doubled, in this case to 40 percent, but the percentage is multiplied by the net book value. The calculation of the depreciation expense based upon a gross book value of $100,000 is as follows: Depreciation Year 1 2 3 4 5 Expense Net Book Value ן40% $100,000 ן40% ס$ $ 60,000 ן40% ס$ $ 36,000 ן40% ס$ $ 21,600 נ2 ס$ $ 40,000 24,000 14,400 10,800 10,800 $100,000 Remaining Balance $100,000 מ$40,000 ס$60,000 $ 60,000 מ$24,000 ס$36,000 $ 36,000 מ$14,400 ס$21,600 $ 21,600 מ$10,800 ס$10,800 $ 10,800 מ$10,800 ס0 36 UNDERSTANDING FINANCIAL INFORMATION Notice that the first year’s depreciation expense is double the amount that it would have been using the straight-line method.
Liabilities (line 18) Liabilities are the amounts that the company owes to others for products and services it has purchased and amounts that it has borrowed and therefore must repay. Current liabilities include all money that the company owes that must be paid within one year from the date of the balance sheet. Long-term liabilities are those that are due more than one year from the date of the balance sheet. Included in current liabilities are accounts payable, short-term bank loans, and accrued expenses (which we have included in other current liabilities).