Includes index.

Introduction -- Part 1: Opening the books on accounting. Accounting in today's new economy ; Introducing financial statements ; Safeguarding company assets ; Accounting in the digital age ; Recognizing the legal and accounting entity -- Part 2: Exploring financial statements. Reporting profit or loss in the income statement ; Reporting financial condition in the balance sheet ; Reporting cash sources and uses in the statement of cash flows ; Financial accounting issues -- Part 3: Understanding financial reports, financial statements, and financial information. Producing financial reports ; Deciphering a financial report ; Analyzing financial information with ratios ; Generating internal financial information for management use ; Applying Wall Street's tricks and treats to engineer financial results -- Part 4: Leveraging accounting in managing a business. Analyzing profit ; Accounting for costs ; Preparing best-in-class forecasts, projections, and budgets ; Capitalizing a business : how, when, why, and what -- Part 5: The part of tens. Ten tips for managers ; Ten tips for reading a financial report.

Features the latest information on accounting methods and standards, and explains how to avoid fraud, analyze profits, prepare financial reports, manage budgets, and determine product costs.