Accounting Made Simple
Accounting Made Simple is a concise and accessible guide for individuals who want to learn the basics of accounting without getting bogged down in technical jargon or complicated theories. The book illustrates the most important financial statements and draws a conclusion about the numbers. It also outlines the double-entry ledger system, a hallmark of accounting best practices. Its clear, no-frills approach makes it a practical and valuable resource for anyone looking to understand the financial side of business without becoming overwhelmed by complexity.
KEY TOPICS COVERED
Basic accounting principles.
An overview of the accounting equation (Assets = Liabilities + Equity) and the fundamental concepts that underpin financial accounting.
Understanding the three primary financial statements: the balance sheet, income statement, and cash flow statement.
Double-entry accounting.
A key concept where every transaction affects at least two accounts, ensuring that the accounting equation remains balanced.
Revenue recognition, depreciation, and other accounting rules.
Explanation of various accounting policies and how they impact financial reporting.
MORE BOOK COVERAGE
The Accounting Equation and why it's so significant
How to read and prepare financial statements
How to calculate and interpret several different financial ratios
The concepts and assumptions behind Generally Accepted Accounting Principles (GAAP)
Preparing journal entries with debits and credits
Cash method vs. accrual method
Inventory and Cost of Goods Sold
How to calculate depreciation and amortization expenses
ABOUT THE AUTHOR
Mike Piper is an author and financial educator who is best known for his work in making complex financial topics more accessible to a general audience.
His writing style is known for being accessible and easy to follow, with a focus on providing practical advice and actionable insights.
His writing has been featured in many places, including The Wall Street Journal, Money Magazine, AARP Magazine, Forbes, CBS News, MarketWatch, and Morningstar.