Duration:
Self-study or Classroom Training
Description:
The 50-Minute Manager Series was designed to cover critical business and professional development topics in the shortest time possible. Our easy-to-read,
easy-to-understand format can be used for self-study or classroom training, or even office training. With a wealth of hands-on exercises, the 50-Minute
books keep you engaged and help you retain critical skills.
To run a business, numbers must be taken into account and factored into everyday decision-making, both major and minor. Understanding the numbers
associated with day-to-day operations is no longer just the domain of the finance and accounting departments--everyone from lower-level staff to senior
managers should learn the fundamentals of the cost of the organization's product or service, the price strategies involved, and the impact that short- and
long-term decisions have on the bottom line. ACCOUNTING ESSENTIALS is an introductory course that teaches the basics of finance, accounting, and economic
strategies in an easy-to-follow, easy-to-understand format complete with glossaries, diagrams, and self-tests. This book was written especially for
nonfinancial managers or new business owners, and can be used in an academic setting or for self-study. It is an indispensable primer for learning and
understanding accounting fundamentals, such as cash and accrual accounting, basic recordkeeping, ledger and journal entries, and financial statement
preparation.
Table of Contents:
Part 1: Getting the 'Right' Numbers
Qualitative vs. Quantitative Decision-Making
Standards
Effective and Efficient Decisions
Constraints
Part 2: Review of the Financial Statements
The Balance Sheet and Income Statement
Statement of Cash Flow
What the Financial Statements Do Not Tell You
Part 3: Making Money
Maximizing Profit or Minimizing Cost
Thinking in Units
Defining Cost
Part 4: Identifying Costs and Their Behaviors
Fixed, Variable, and Mixed Costs
Relevant Range
Cost Per Unit
Cost Categories on the Income Statement
Discerning Variable Costs
Discerning Mixed Costs
Part 5: Controlling Costs
Contribution Margin on the Income Statement
Activity-Based Costing
Non-Value-Added Activity
Part 6: Am I Breaking Even?
The Cost-Volume-Profit Graph
The Contribution Margin Approach to Break-Even052698X
Calculating 'What If' Profit
Margin of Safety
Part 7: Operating Leverage
Defining Operating Leverage
Operating Leverage and the Bottom Line
Part 8: Influences on Pricing
Pricing in Line with the Competition
Trade-Offs Between Price and Demand
Elasticity of Demand Illustrated
Market and Cost Influences on Pricing
Qualitative Factors in Relation to Price
Part 9: Making the Numbers Work for You
Responsible Decision-Making
Quality Management
Appendix
Review of the Numbers
Appendix to Part 2
Appendix to Part 3
Appendix to Part 4
Appendix to Part 6
Appendix to Part 7
Additional Reading