Mastering Financial Accounting Essentials is a text for people who need to use accounting information in their everyday jobs. They need to be able to understand the language and the law in order to talk to accountants and clients in an intellectual manner. Part One of the book uses an extended scenario to present the basics of financial accounting. McCrary creates a new business from scratch. By the end of the scenario (and the end of Part 1), readers will have reinvented double-entry book keeping. Along the way, readers can delve as deeply as they wish to learn more about inventory valuation methods (for example, LIFO verse FIFO) and the timing of erosion of the productive assets (for example, straight line depreciation verses double declining balance). As before, McCrary will emphasize a general understanding of the process and the reports. Part Two will use financial statements. Using the extended scenario above, McCrary shows how internal managers calculate ratios and trends to evaluate business efficiency. McCrary shows how bankers will review the statements to determine solvency.
Book Details:
- Author: Stuart A. McCrary
- ISBN: 9780470393321
- Year Published: 2010
- Pages: 176
- BISAC: BUS001010, BUSINESS & ECONOMICS/Accounting / Financial
About the Book and Topic:
Mastering Financial Accounting Essentials is a text for people who need to use accounting information in their everyday jobs. They need to be able to understand the language and the law in order to talk to accountants and clients in an intellectual manner. Part One of the book uses an extended scenario to present the basics of financial accounting. McCrary creates a new business from scratch. By the end of the scenario (and the end of Part 1), readers will have reinvented double-entry book keeping. Along the way, readers can delve as deeply as they wish to learn more about inventory valuation methods (for example, LIFO verse FIFO) and the timing of erosion of the productive assets (for example, straight line depreciation verses double declining balance). As before, McCrary will emphasize a general understanding of the process and the reports. Part Two will use financial statements. Using the extended scenario above, McCrary shows how internal managers calculate ratios and trends to evaluate business efficiency. McCrary shows how bankers will review the statements to determine solvency.
In today’s world, all financial practitioners must understand and play by the rules of the accounting field. Whether one uses accounting measures in his or her everyday work is irrelevant. In order to make sound financial decisions, all practitioners must know how to read and interpret financial reports/statements in order to best serve investors, creditors, and tax authorities. This is especially true today as so many laws have been changed and/or implemented in light of recent accounting scandals.
SUCCESFUL WILEY AUTHOR. Stuart McCrary is a well-known and successful author and practitioner whose first book with Wiley, How to Create and Manage a Hedge Fund, was a big hit, having sold 11,500 copies since it published in 2002. THE ESSENTIAL GUIDE TO FINANCIAL ACCOUNTING. McCrary’s book provides all the necessary tools through both theory and hands-on examples for financial practitioners looking for a sturdy background in accounting
About the Author
Stuart McCrary (Chicago, IL) is a Principal at Chicago Partners. He is a trader and portfolio manager. He specializes in traditional and alternative investments, quantitative valuation, risk management, and financial software. Prior to joining Chicago Partners, he was President of Frontier Asset Management, managing a market-neutral hedge fund. He held positions with Fenchurch Capital Management as Senior Options Trader and CS First Boston as Vice President and market maker of over-the-counter options. Prior to that, he was a Vice President with the Securities Groups and a portfolio manager with Comerica Bank. McCrary has published two books, both with Wiley. They are How to Create and Manage a Hedge Fund (2002) and Hedge Fund Course (2004).