There is "Accounting for the Dummy's, Accounting for the Idiots"
now finally: "Financial Accounting Get it Straight" This book
doesn't resemble anything like it on the market today The author
realizes that for a basic accounting book to have a place, it must
take into account the wide fragmented target audience out there,
from those having absolutely zero knowledge of accounting, to small
business operators who thought they knew accounting until they met
with their professional accountants after the first couple of
months in business. The problem is, they didn't speak the
accountants' language and didn't have all the parts of the jog saw
puzzle. There are those that graduated from college, disliked
accounting so much they can only remember there was an allocated
time for breaks Now many of these people have invested in rental
income properties, their own small businesses and own stocks in
public held companies and they need basic accounting. There are
those, while not actively practicing accounting or holding
positions such a Financial Controller in a corporate environment
come across accounting issues in their normal course of business.
The book begins with a short History of Accounting clarifying what
accounting, as the "Language of Business" can and cannot do for you
For those that are intimidated by the thought of accounting
terminology, it's pointless in beginning with the Balance Sheet, so
he begins by taking an upper middle class family's monthly expenses
and lists the major assets as well. In less than twenty pages,
including the history of accounting, and how accounting defines
itself, takes those every day family items and produces a business
style Income Statement andBalance Sheet The vast majority of
readers don't need to begin at this level, but this isn't a huge
detour in the road Those that do need to begin at this level, they
need to get the fear of accounting out of their system and move on
and they have had enough time to do this. The author, Errol Deacon
doesn't talk about it, but anybody can use the techniques and
produce their own and will have an excellent tool done in the
privacy of their own home. This book produces a tangible result in
less than twenty pages For those that cannot concentrate, or their
mind wonders, the author has laid out this entire book in Question
and Answer format and where appropriate has expanded. There is a
large Question Mark denoting a question. The response is a person
conducting a meeting. Just when you are about to ask a question or
the mind wonders, there is another question. The publisher hasn't
come across a serious book written anywhere close in this format.
This could set the trend for the future Question and Answer format
doesn't prevent the use of actual Balance Sheets and Income
Statements and other illustrations being introduced either. You
won't master accounting in twenty five pages, but for those that
want proof early in the game that you are not wasting you time
completing the book, this is it Now move on T-Accounts,
Capitalization, Income Statement (Profit or Loss) and the Balance
Sheet. There are dedicated chapters for Inventory, Depreciation,
Payroll, Accounts Receivable and Accounts Payable. The last two
chapters cover the basic functions for Bonds, leases and an
introduction to Off Balance Sheet accounting and the Statement of
Cash Flows. Repetition is the mother of learning, and justwhen you
don't expect it he will repeat one or more of the three, slogans
that help you master this subject There are the Deacon 3Q's,
"Timing, Timing Timing" and the other one? You will have to buy the
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