Financial accounting is commonly referred to as the “language of business.” With an understanding of the fundamental concepts and principles of accounting, you can make more informed decisions, contribute to strategic conversations, and build and run businesses. This book meant to teach non-accountants accounting in a very simple and easy way.
By reading this book you will:
1.Understand accounting and bookkeeping concept
2.Know how to interpret and record financial transactions in accounting books
3.Know how to record transactions in the general ledger, general journals and all types of cash books
4.Know how to balance cash books and prepare a bank reconciliation statements
5.Learn how to prepare these financial statements: Payment and receipt, income statement, Balance sheet, capital statement and the cash flow statement using real world examples.
6.Learn about different business forms and how they are operated especially in financial reporting and taxation
7.Learn the principles of accounting and how they are applied
8.Learn about depreciation, amortization and depletion and how to record such transactions in the journals.
9.Get introduced to this scarce topic the payroll.
10.The book won’t close without teaching you about financial auditing and much more.