Since the first edition of this book in 1994, not much change has occurred to accounting standards for Property, Plant, and Equipment in business. The GAAP promulgated by the Financial Accounting, FASB, has been to further the concept of identifying the cost of an asset and spreading that cost over the accounting periods that benefit. Accounting for contributions, impairments, and financing of assets have been addressed by the FASB.

In contrast, much has happened in the areas of Not...

The success or failure of a business is measured in dollars. And dollars are recorded and reported using accounting. Accounting is truly the language of business. No matter what your role may be, if you are involved in business, you can benefit from learning accounting. That’s what this book is all about—taking the subject and making it understandable and accessible.

This book makes an excellent companion to any standard text, or it can be used as a stand-alone volume. It is designed...

Who would have thought that, of all the issues in the world, accounting would ever be foremost among hot-button discussion topics? Accounting? Boring accounting? A profession once derided in a famous “Monty Python” sketch as a “horrible debilitating disease” whose practitioners are “appallingly dull, unimaginative, timid, lacking initiative, spineless, easily dominated, no sense of humor and irrepressibly drab?” Interesting and intriguing? Never!

Yet in early 2002, accounting was pu...

A chief executive officer (CEO) spends months deciding on a corporate strategy. The plan probably includes a mix of changes in products, customers, and markets, as well as demands for increased efficiencies or information in a number of existing areas. The CEO then hands off the plan to a group of managers who are quite capable of implementing many of the changes, but who scratch their heads over how to squeeze greater efficiencies or information out of existing departments in order to meet their s...

The Butterworth-Heinemann Hospitality Management Series covers all aspects of the management of hospitality enterprises from an applied perspective. Each book in the series provides an introduction to a separate managerial function such as human resources or accounting, to a distinct management segment in the hospitality industry such as club management, resort management, or casino management, as well as to other topic areas closely related to hospitality management, such as information technol...

T his book has been written for business owners and managers who want to refine the accounting and financial operations of their companies. It provides detailed information about how to run these operations, track cash flows, conduct analyses, analyze key financial information, create a corporate risk management strategy, and manage tax liabilities—in short, all of the key accounting and financial information required to operate a small business....

This book explains the methods used in accounting and business valuations by using the fictional story of a new start-up business, from original concept to eventual acquisition. Enamoured with entrepreneurial spirit, a business woman buys her family’s secret salad dressing recipe from her brother and sets up a business. Chapter 1 illustrates double entry bookkeeping and how to prepare a Trial Balance, Profit and Loss Account and Balance Sheet and also discusses
the working capital cycle, ...

Some of the most bitter controversies over U.S. environmental policies have occurred in small Western communities where timber, mining, and ranching interests have clashed with those seeking to preserve public lands for ecological or recreational purposes. Whether the conflict was over implementation of the Endangered Species Act, the National Forest Management Act, or any number of other federal or state laws, the out-come often was policy stalemate and local economic stagnation. At the national...