2. Introducing the Balance Sheet and Income Statement.

3. Profit Isn’t Everything.

4. Sales Revenue and Accounts Receivable.

5. Cost of Goods Sold Expense and Inventory.

6. Inventory and Accounts Payable.

7. Operating Expenses and Accounts Payable.

8. Operating Expenses and Prepaid Expenses.

9. Long-Term Operating Assets: Depreciation and Amortization Expense.

10. Accruing Unpaid Operating Expenses and Interest Expense.

11. Income Tax Expense and Income Tax Payable.

12. Net Income and Retained Earnings; Earnings per Share (EPS).

13. Cash Flow from Profit and Loss.

14. Cash Flows from Investing and Financing Activities.

15. Growth, Decline, and Cash Flow.

16. Footnotes—The Fine Print in Financial Reports.

17. CPAs, Audits, and Audit Failures.

18. Choosing Accounting Methods and Quality of Earnings.

19. Making and Changing Accounting Standards.

20. Cost of Goods Sold Conundrum.

21. Depreciation Dilemmas.

22. Ratios for Creditors and Investors.

23. A Look Inside Management Accounting.

24. A Few Parting Comments.

Index.