Cover image for Bottom line basics : understand & control business finances
Title:
Bottom line basics : understand & control business finances
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Publication Information:
Grants Pass, Or : Oasis Press, 1995
ISBN:
9781555713300
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Item Category 1
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30000005005909 HF5686.C7 L68 1995 Open Access Book Book
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Summary

Summary

Describes the essentials of financial accounting and why traditional accounting alone is not enough for making critical operating decisions.


Reviews 1

Choice Review

Effective financial management is critical for success, but tax and financial accounting required by generally accepted accounting principles (GAAP) omits potentially important information for the management of firms, especially smaller businesses. For example, profits are not synonymous with cash, and accrual accounting does not eliminate the need for tracking cash flows. This well-written book places emphasis on the uses and benefits of managerial accounting (instead of financial accounting) for planning and control by managers, especially individuals responsible for administering small, privately held firms. Low covers financial planning and forecasting, the collection of receivables, the turnover of inventory, cash management, the acquisition of plant and equipment, and internal controls. Although the book is designed primarily for individuals with sufficient background in financial and managerial accounting to understand the terminology, libraries that serve practitioners and general audiences or that maintain a collection of self-study publications for students will find this book a useful addition to a reference collection. H. Mayo; Trenton State College