Tage C. Tracy & John A. Tracy 
Accounting For Canadians For Dummies 

The only guide to accounting that’s tailor-made for Canadians

Accounting For Canadians For Dummies provides comprehensive coverage of all the auditing concepts, practices, and regulations Canadians need to know. This trusted guide is full of great information applicable to accountants and auditors who work throughout private industry and government, as well as salary accountants working for accounting, tax preparation, bookkeeping, and payroll services firms. Financial statements, financial reports, and business accounting are explained in terms anyone can understand. This new edition is revised to include accounting in the digital age, applying techniques from Wall Street, capitalizing a business, and beyond. This Dummies guide paves an easy-to-follow path to success for students and professionals alike.

* Understand the basics of general accounting procedures

* Learn the ins & outs of Canadian regulations

* Prepare and analyze financial reports, and create professional financial statements

* Discover how to track inventory and evaluate profit margins

Accounting For Canadians For Dummies is the ideal book for both accounting professionals and students working towards a degree in accounting or auditing.

Table of Content

Introduction 1

Part 1: Opening the Books on Accounting 5

Chapter 1: Accounting in Today’s Economy 7

Chapter 2: Introducing Financial Statements 25

Chapter 3: Bookkeeping and Accounting Systems 49

Chapter 4: Accounting in the Digital Age 71

Chapter 5: Deciding the Legal Structure for a Business 85

Part 2: Exploring Financial Statements 101

Chapter 6: Reporting Profit or Loss in the Income Statement 103

Chapter 7: Reporting Financial Condition on the Balance Sheet 125

Chapter 8: Reporting Cash Flows 149

Chapter 9: Choosing Accounting Methods 167

Part 3: Understanding Financial Reports, Financial Statements, and Financial Information 189

Chapter 10: Producing Financial Reports 191

Chapter 11: Deciphering a Financial Report 213

Chapter 12: Analyzing Financial Information with Ratios 227

Chapter 13: Generating Internal Financial Information for Management Use 249

Chapter 14: Applying Tricks and Treats to Engineer Financial Results 271

Part 4: Leveraging Accounting in Managing a Business 281

Chapter 15: Analyzing Profit 283

Chapter 16: Accounting for Costs 305

Chapter 17: Preparing Forecasts, Projections, and Budgets 329

Part 5: The Part of Tens 349

Chapter 18: Ten Tips for Managers 351

Chapter 19: Ten Tips for Reading a Financial Report 361

Index 371

About the author

Cécile Laurin, CPA, CA, is a retired professor of accounting at Algonquin College of Applied Arts and Technology in Ottawa. She has been chief financial officer for three engineering firms and a law firm.

Tage C. Tracy operates a financial consulting firm focused on offering CFO/executive-level support and planning services to private companies. He is the author of Business Financial Information Secrets and has coauthored several For Dummies books.