Accounting for Non-Accountants: The Fast and Easy Way to Learn the Basics Review

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Accounting for Non-Accountants: The Fast and Easy Way to Learn the Basics ReviewIn brief, Dr. Label's 10 Minute Guide... is a godsend for those of us who are 'MBA challenged'. Written in simple, easy to understand language, the book opens up the world of accounting to those who have no formal training in business. The Ten Minute Guide... serves as a useful guide and reference for those who want to keep their own books, or to better understand the finances of another business.
Dr. Label skillfully introduces the four key areas of accounting- GAAP rules, the balance sheet, the income statement, and the cash flow statement. For each area, he painstakingly defines the components that go into each area and the relationships between the individual components in an area as well as the relationships between different areas. He broadens his explanation of each area by introducing simple to follow examples of their use throughout the text. Although most of the book's emphasis is on the accounting required by sole proprietorships or partnerships, Dr. Label does extend the concepts to the stock corporation, and devotes two chapters to the analysis of a corporation's financial statements.
In addition, Dr. Label takes the reader through audits and auditors, the basics of keeping a general journal, the use of various financial statements for short and long term analysis, and the use of budgeting in business. Finally, one chapter covers some basic information on the internet and accounting (a subject that is a book unto itself), and Dr. Label thoughtfully provides a comprehensive and understandable glossary of key terms for quick reference.
Although the book is small, it is packed with a lot of useful information which is presented in a clear and succinct manner. It serves as an excellent springboard into the world of accounting, and provides a firm basis for understanding financial data and making good judgements based on such data. After reading this book, one can safely and confidently converse with an accountant and walk away with one's wallet full of cash still in one's pocket. Imagine that!Accounting for Non-Accountants: The Fast and Easy Way to Learn the Basics OverviewAccounting for Non-Accountants is the perfect accounting guide for anyone who has never taken an accounting class, and has no idea what a balance sheet, income statement, or statement of cash flow is. Dr. Wayne Label covers it all, in a style that's easy to understand and apply. This guide will help you get your accounting system up and running and your business needs satisfied.Topics covered include:-- Income Statements-- Statements of Cash Flow-- Balance Sheets-- Assets & Liabilities-- Double-Entry Bookkeeping-- Debits & Credits-- Audits & Auditors-- And everything else beginners need to knowFor entrepreneurs or anyone who needs to brush up on accounting fast, this book is an essential resource for the businessperson's shelf.

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