How many of you maintain a "Cheat Sheet" for quick reference. We're talking about anything from how to figure out GPM to Mark-up or even current ratio (and everything in-between)? I assume anonymous will prevail here as the key responder, but let's face it: Not all
Accounting 101 Cheat Sheet
Answers
If you have a cheat sheet, please share what is on it for those of us who openly admit we need one!
Footnote: Remembering the concepts and remembering the formula's are different. Even so, I usually have the concept there just to make sure I'm applying the current definition.
I have bookmarked most of the ratio's that I never use but need to include in some financial reports. Sure I live with Current Ratio, and Turnovers (even though its on my list) but I don't remember DxO, CCC and the 20 or so ratio's I use to teach in Accounting 101.
I keep NPV and some other finance formula's (from Fin101), since I don't use them that often.
There are more, but it depends on what I need. For example, how to's for certain
Please share the Cheat Sheet you are talking about
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This is an abbreviated list: Investopedia, accountingtools.com and accountingcoach.com. For excel issues https://exceljet.net/keyboard-shortcuts and http://www.excel-easy.com/data-analysis/charts.html, Microsoft and of course doing a search brings you more resources that you can shake a stick at!
For fundamentals including simple examples, I use AccountingCoach.com. There is a free database, but in my opinion lifetime access to the "Pro" site is a good investment. For more technical reference I have alumni access to the EY Accounting Link site.
A great question Wayne, because, in my opinion, reviewing the basics is always appropriate, at all levels, and in any profession. I suggest this Link: http://www.accountingcoach.com/accounting-basics/explanation/1 . . . to me it seems to be both comprehensive and authoritative. All the Best!
I just signed up for the Accounting Coach.com and for $49 for all access forever it looks like a wonderful find! Thank you all for the great tips!