Accounting For Canadians For Dummies - download pdf or read online


By John A. Tracy, Cecile Laurin

ISBN-10: 1118223810

ISBN-13: 9781118223819

The in simple terms advisor to accounting tailored for Canadians, now revised and updated

Job customers are reliable for these trying to input the Canadian accounting undefined, and Accounting For Canadians, moment Edition is the fundamental source for an individual attracted to doing so. jam-packed with the data accountants and auditors who paintings in private and non-private industries and in executive want to know that allows you to remain at the correct aspect of Canadian accounting legislation, the booklet can be vital for wage accountants operating for accounting, tax coaching, bookkeeping, and payroll prone firms.

  • Essential examining because the new GAAP grew to become needed for publicly dependable companies and govt company organizations first and foremost of 2011
  • Covers the recent foreign monetary Reporting criteria
  • Addresses new criteria for personal agencies that...

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Extra info for Accounting For Canadians For Dummies

Example text

Typically, the accounting department is responsible for the following: Payroll: The total wages and salaries earned by every employee every pay period, which are called gross wages or gross earnings, have to be calculated. Based on detailed private information in personnel files and earnings-to-date information, the correct amounts for income taxes and several other deductions from gross wages have to be determined. Stubs, which report various information are produced each pay period and given to the employee.

Events such as the following have an economic impact on a business and are recorded: A business may lose a lawsuit and be ordered to pay damages. The liability to pay the damages is recorded. A business may suffer a flood loss that is uninsured. The waterlogged assets may have to be written down, meaning that the recorded values of the assets are reduced to zero if they no longer have any value to the business. For example, products that were being held for sale to customers (until they floated down the river) must be removed from the inventory asset account.

Feel free to skip over these points the first time through and stay with the main discussion. This icon calls your attention to useful advice on practical financial topics. It saves you the cost of buying a yellow highlighter pen. This icon is like a caution sign that warns you about speed bumps and potholes on the accounting highway. Taking special note of this material can steer you around a financial road hazard and keep you from blowing a fiscal tire. In short — watch out! Where to Go from Here There’s no law against you starting on page 1 and reading through to the last page.

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Accounting For Canadians For Dummies by John A. Tracy, Cecile Laurin

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