Learn the basics of practical accountingFeaturing the latest information on accounting methods and standards, this guide shows you how to avoid accounting fraud, minimize confusion, maximize profits, and make sense of accounting basics. You"ll quickly understand how to manage inventory, report income and expenses for public or private companies, evaluate profit margins, analyze business strengths and weaknesses, and manage budgets for a better bottom line.With 25 percent new content including updated information on small and large business reporting standards, international accounting standards, and preventing financial reporting fraud, Accounting For Dummies continues to be an excellent resource for those studying accounting. The separate accounting and financial reporting standards for private/small businesses versus public/large businesses (Little GAAP vs. Big GAAP)The internationalization of accounting standardsThe rise in restatements of previously issued financial reports by public corporations, and how revisions of previously reported earnings impact investorsThe increasing focus on preventing financial reporting fraud and the expanded role and responsibility of the CPA auditorAccounting problems with stock optionsThe "unaccounted for" cost of employee pensions and retirement health care costs, in both the private and public sectorsExpanded coverage of small business accountingUpdated resources and websitesThe information in Accounting For Dummies is valuable for anyone studying or working in the fields of accounting or finance.