Mohammad Nazim Uddin

Principles of Accounting (eBook, ePUB)

• Format: ePub

Produktbeschreibung

The book Principles of Accounting serves as a foundational guide to the basic concepts, principles, and practices of accounting. It is designed to help students and professionals develop a thorough understanding of accounting as a discipline and its importance in financial decision-making.

Key Topics Covered:

1. Introduction to Accounting
The book begins by explaining the purpose of accounting, its role in business, and its importance in tracking financial performance. It introduces key concepts such as the accounting cycle and the distinction between financial and managerial accounting.

2. Accounting Principles and Framework
It outlines fundamental principles, such as the Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS). These frameworks guide the preparation and presentation of financial statements.

3. The Accounting Equation and Double-Entry System
A cornerstone of the book is the explanation of the accounting equation:

It also explores the double-entry bookkeeping system, where every transaction affects at least two accounts, ensuring accuracy.

4. Financial Statements
The book details how to prepare and interpret the primary financial statements:

Income Statement: Reports revenues and expenses to show profitability.

Balance Sheet: Summarizes assets, liabilities, and equity at a given time.

Cash Flow Statement: Tracks cash inflows and outflows.

Statement of Changes in Equity: Highlights changes in ownership interest.

5. Adjusting Entries and Closing Process
The process of adjusting journal entries to account for accruals, deferrals, and other non-cash transactions is explained. The book also covers the closing process to reset accounts at the end of a period.

6. Specialized Topics
Advanced topics include inventory accounting, depreciation, internal controls, payroll accounting, and accounting for partnerships and corporations. These chapters delve into specific areas that require more detailed attention.

7. Managerial and Cost Accounting
In addition to financial accounting, the book introduces managerial accounting concepts such as budgeting, cost behavior, and performance evaluation, aiding in internal decision-making.

Approach and Pedagogy:

The book employs clear explanations, real-world examples, and practical exercises to reinforce learning. Charts, tables, and illustrations are used to clarify complex topics. End-of-chapter questions and case studies help readers apply what they've learned.

Importance:

Principles of Accounting is invaluable for anyone starting their journey in accounting, as it provides the tools and knowledge necessary to understand and engage with financial data. It emphasizes accuracy, ethical practices, and the analytical skills needed to succeed in the field.

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Produktdetails

• Verlag: Mohammad Nazim Uddin
• Erscheinungstermin: 28. November 2024
• Englisch
• ISBN-13: 9798230189497
• Artikelnr.: 72787302

Autorenporträt

Mohammad Nazim Uddin is a seasoned accounting professional and educator with 20 years of experience in the field. With a deep passion for demystifying complex financial concepts, NAZIM has dedicated his career to teaching, mentoring, and helping individuals and businesses achieve financial clarity and success.

Holding MBA in Accounting, Mohammad Nazim Uddin has worked extensively in both public and private sectors, offering expertise in financial reporting, auditing, cost management, and strategic decision-making.

As an author, Mohammad Nazim Uddin brings a practical approach to 'Principles of Accounting' , blending foundational theory with real-world applications. The book reflects his commitment to providing readers with the tools needed to understand and apply accounting principles confidently.

Beyond writing, Mohammad Nazim Uddin is a sought-after speaker and workshop facilitator, known for his ability to simplify complex financial topics and inspire learners of all levels. When not writing or teaching, NAZIM enjoys exploring data trends and volunteering in financial literacy programs.

With Principles of Accounting, Mohammad Nazim Uddin aims to empower readers to unlock the power of business literary fostering both personal and professional growth in the ever-evolving financial landscape.