Managerial Accounting for Small, Privately Owned Businesses: A Guide to Business and Personal Financial Success

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Written specifically for community college and two-year business programs, Managerial Accounting for Small, Privately Owned Businesses is the only managerial accounting book you will ever need. With its shared focus on the management of small businesses and the financial well-being of individuals, the book covers everything needed to successfully run a business or increase personal wealth. All material is rooted in real-world business practices and presented in a clear, concise, and accessible way. The Main Event: The heart and soul of any business revolves around the Income (P&L) Statement that focuses on maximizing profits through cost control and revenue enhancement, the Cash Flow Statement that focuses on turning over Inventory and Accounts Receivables and managing cash, and the line-of-credit, and the Balance Sheet that focuses on the management of assets and liabilities and the growth of net worth. The Second Course: With these fundamentals in place, students move on to Budgeting and Investing, Financial and Trend Analysis, Consistent Decision-Making Skills, Success in Manufacturing, and the connection to The Business Plan. The Finale: Having now learned how to make money in many ways, what better way to finish than with some basic training on taxes; how our system works and how to always pay the minimum legal requirement! Each of the management tools is presented step-by-step with examples and applications to local small businesses that students easily connect with. Successfully class-tested for over four years, Managerial Accounting for Small, Privately Owned Businesses is ideal for community colleges and two-year business programs.