G. Stevenson Smith is professor of accounting at the College of Business and Economics at West Virginia University. He frequently provides workshops on accounting for libraries and other not-for-profit organizations.
- Table of Contents
- About the Author
Accounting is a critical component of the business of running a library, and librarians with a working knowledge of accounting are more effective decision makers. The update of this classic text provides practical accounting information for those librarians who don't want to be accountants, but do want to keep track of the bottom line. Accounting for Librarians provides the fundamental principles of library accounting for practitioners. Practical use of accounting basics ensures that librarians:
- work effectively with financial mangers, trustees, and others;
- create and maintain a financial system that ensures controls of resources; and
- keep accurate and useful records of financial information on library transactions.
Accounting fundamentals such as accounting systems, reporting, and closing are all clearly explained with examples. The new edition also:
- explains how library managers and directors can work within the library's financial system to achieve goals;
- provides library-related examples of how to perform specific accounting functions; and
- includes a glossary.
Part 1 The Foundation of the Fund Accounting
1 Where Are We Headed?
2 Those Pesky Debits and Credits
3 Which Accounting System Are WE Using?
4 Making Budget Dollars Make Sense
5 End of a Year: Closing Entries
Part 2 Accounting for the Major Fund Groups
6 Introduction to the Twin Funds: The General and Special Revenue Funds
7 The General Fund and Special Revenue Fund with Journal Entries
8 The Capital Projects Fund and the General Fixed Assets Account group
9 Endowment and Agency Funds
10 Combined Financial Statements and Analysis of the Results of Performance
Answers to Exercises
"Not every librarian needs to understand accounting, but for those who do, this is a welcome revision of [a] classic textbook."