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Cindy Ferraino - The Complete Dictionary of Accounting and Bookkeeping Terms Explained Simply

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Cindy Ferraino The Complete Dictionary of Accounting and Bookkeeping Terms Explained Simply
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Accounting and bookkeeping can quickly become the bane of any new business, providing a great deal of headache and problems for even the most seasoned and technically proficient business owners. Hiring an accountant for your small business can cost anywhere between $1,000 and $10,000 an expense many cannot afford and trying to memorize the hundreds or even thousands of terms necessary understand the complex world of bookkeeping can seem altogether too daunting to undertake. Yet, for those that do master their own bookkeeping, those thousands of dollars can be saved and reinvested in your business immediately. This book was written for every small business owner who feels they do not have a full grasp of what they are doing with their profits, expenses, payroll, and taxes and would like to take more control of them. You will learn every possible method you need to understand and speak the language of your accountant and bookkeeper or to take over the process yourself. Learn the hundreds of necessary terms and the methods used by these two fields. Learn the different abbreviations used in the industry and what you will need to properly use this book, from the proper times to use terminology to the effective means by which to fill out your tax forms, records, and other forms. Finally, benefit from the table of detailed accounting information, from conversion charts to up-to-date tax information so that you can start understanding the complex world of your bookkeeping today and take control of your finances.

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Accounting

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Bookkeeping Terms

Explained Simply

By Cindy Ferraino The Complete Dictionary of Accounting Bookkeeping Terms - photo 4

By Cindy Ferraino

The Complete Dictionary of Accounting &
Bookkeeping Terms Explained Simply

Copyright 2011 Atlantic Publishing Group, Inc.
1405 SW 6th Avenue Ocala, Florida 34471 Phone 800-814-1132 Fax 352-622-1875

Web site:

SAN Number: 268-1250

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the Publisher. Requests to the Publisher for permission should be sent to Atlantic Publishing Group, Inc., 1405 SW 6th Avenue, Ocala, Florida 34471.

Library of Congress Cataloging-in-Publication Data

Ferraino, Cindy.

The complete dictionary of accounting & bookkeeping terms explained simply / by Cindy Ferraino.

p. cm.

Includes bibliographical references.

ISBN-13: 978-1-60138-325-9 (alk. paper)

ISBN-10: 1-60138-325-8 (alk. paper)

1. Accounting--Dictionaries. 2. Bookkeeping--Dictionaries. 3. Terms and phrases. I. Title.

HF5636.F47 2010

657.03--dc22

2010039119

LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY: The publisher and the author make no representations or warranties with respect to the accuracy or completeness of the contents of this work and specifically disclaim all warranties, including without limitation warranties of fitness for a particular purpose. No warranty may be created or extended by sales or promotional materials. The advice and strategies contained herein may not be suitable for every situation. This work is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional services. If professional assistance is required, the services of a competent professional should be sought. Neither the publisher nor the author shall be liable for damages arising herefrom. The fact that an organization or Web site is referred to in this work as a citation and/or a potential source of further information does not mean that the author or the publisher endorses the information the organization or Web site may provide or recommendations it may make. Further, readers should be aware that Internet Web sites listed in this work may have changed or disappeared between when this work was written and when it is read.

All trademarks, trade names, or logos mentioned or used are the property of their respective owners and are used only to directly describe the products being provided. Every effort has been made to properly capitalize, punctuate, identify, and attribute trademarks and trade names to their respective owners, including the use of and wherever possible and practical. Atlantic Publishing Group, Inc. is not a partner, affiliate, or licensee with the holders of said trademarks.

A few years back we lost our beloved pet dog Bear who was not only our best - photo 5

A few years back we lost our beloved pet dog Bear, who was not only our best and dearest friend but also the Vice President of Sunshine here at Atlantic Publishing. He did not receive a salary but worked tirelessly 24 hours a day to please his parents.

Bear was a rescue dog who turned around and showered myself, my wife, Sherri, his grandparents Jean, Bob, and Nancy, and every person and animal he met (well, maybe not rabbits) with friendship and love. He made a lot of people smile every day.

We wanted you to know a portion of the profits of this book will be donated in Bears memory to local animal shelters, parks, conservation organizations, and other individuals and nonprofit organizations in need of assistance.

Douglas and Sherri Brown

PS: We have since adopted two more rescue dogs: first Scout, and the following year, Ginger. They were both mixed golden retrievers who needed a home.

Want to help animals and the world? Here are a dozen easy suggestions you and your family can implement today:

  • Adopt and rescue a pet from a local shelter.
  • Support local and no-kill animal shelters.
  • Plant a tree to honor someone you love.
  • Be a developer put up some birdhouses.
  • Buy live, potted Christmas trees and replant them.
  • Make sure you spend time with your animals each day.
  • Save natural resources by recycling and buying recycled products.
  • Drink tap water, or filter your own water at home.
  • Whenever possible, limit your use of or do not use pesticides.
  • If you eat seafood, make sustainable choices.
  • Support your local farmers market.
  • Get outside. Visit a park, volunteer, walk your dog, or ride your bike.

Five years ago, Atlantic Publishing signed the Green Press Initiative. These guidelines promote environmentally friendly practices, such as using recycled stock and vegetable-based inks, avoiding waste, choosing energy-efficient resources, and promoting a no-pulping policy. We now use 100-percent recycled stock on all our books. The results: in one year, switching to post-consumer recycled stock saved 24 mature trees, 5,000 gallons of water, the equivalent of the total energy used for one home in a year, and the equivalent of the greenhouse gases from one car driven for a year.

ABOUT THE AUTHOR

W hen her son, Jeffrey, waved good-bye as he headed off to preschool several years ago, Cindy Ferraino started dabbling in newspaper reporting for a local newspaper. Since that time, she has expanded her writing career to include magazine features for national and regional publications, feature articles for websites, ghostwriting for various websites, and stories for books about the joys of parenting multiple birth children.

Before Cindy became a full-time freelance writer, she worked in non-profit grants and accounting administration for a medical school in Philadelphia. Cindy Ferraino is a graduate from Philadelphia University (formerly Philadelphia College of Textiles and Sciences) with a bachelors degree in accounting.

ACKNOWLEDGEMENTS

T o the reader or the person who needs to research a business term I hope you find what you are looking for and perhaps even more, because this book will help you make sense of all the terms that swirl around the business world.

To the great people at Atlantic Publishing, especially my editor, Shannon McCarthy, for the support and understanding when it came to deadlines and the opportunity to work on a great project.

To my kids, Lyndsey, Erika, and Jeffrey you are the reason I was able to complete this book during your summer vacation. I am so grateful for your patience when I worked while you waited for food, a ride, and everything in between.

To my husband, Jeff I can only sum up what I feel about you in a few words: Thank you for everything.

INTRODUCTION

Years ago individuals who worked in the field of accounting and bookkeeping - photo 6

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