Accounting Game Basic Accounting Fresh from the Lemonade Stand 1st Edition by Darrell Mullis, Judith Orloff ISBN 140223161X 9781402231612

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Product details:

ISBN 10: 140223161X 
ISBN 13: 9781402231612
Author: Darrell Mullis, Judith Orloff

A clear, easy-to-understand explanation of key financial accounting basics. The world of accounting can be intimidating. Whether you’re a manager, business owner, aspiring entrepreneur, or taking a college course in accounting, you’ll find yourself need to know the basics…but baffled by complicated accounting books. What if learning accounting could be as simple and fun as running a child’s lemonade stand? It can. The Accounting Game presents financial information in a format so simple and so unlike a common accounting textbook, you may forget you’re learning skills that will help you get ahead! Using the world of a child’s lemonade stand to teach the basics of managing your finances, this book makes a dry subject fun and understandable. As you run your stand, you’ll begin to understand and apply financial terms and concepts like assets, liabilities, earnings, inventory and notes payable, plus: Interactive format gives you hands-on experience Color-coded charts and worksheets help you remember key terms Step-by-step process takes you from novice to expert with ease Fun story format speeds retention of essential concepts Designed to apply what you learn to the real world The revolutionary approach of The Accounting Game takes the difficult subjects of accounting and business finance and makes them something you can easily learn, understand, remember and use! Praise for The Accounting Game: “The game approach makes the subject matter most understandable. I highly recommend it to anyone frightened by either numbers or accountants.” —John Hernandis, Director of Corporate Communications, American Greetings “Fantastic Learning Tool…Don’t let this book title fool you. It is not an oversimplification of accounting and financial principles. It is, however, a serious and very effective examination of a very small but progressively complex business. There are not many books available on the market that make a complex and dry subject understandable and even fun. This book successfully does just that.” —Amazon Reviewer

Accounting Game Basic Accounting Fresh from the Lemonade Stand 1st Table of contents:

• The Lemonade Stand Business

  • Setting Up Your Lemonade Stand
  • Understanding Income and Expenses
  • Tracking Your Revenue and Costs

• The Accounting Equation

  • The Fundamental Accounting Equation: Assets = Liabilities + Owner’s Equity
  • How the Equation Works in Your Lemonade Stand
  • Keeping Your Books Balanced

• The First Day of Business

  • Recording Sales and Expenses
  • Cash and Credit Transactions
  • Creating Your First Financial Statement

• The Financial Statements

  • The Income Statement
  • The Balance Sheet
  • The Cash Flow Statement
  • How to Read and Understand Your Statements

• Revenue and Expenses

  • Understanding Revenues and Gains
  • Differentiating Between Fixed and Variable Costs
  • Managing Profits and Losses

• The Role of Debits and Credits

  • Debits vs. Credits: How They Affect Your Accounts
  • Recording Transactions in T-Accounts
  • The Double-Entry System

• Adjusting Entries

  • Understanding Adjustments in Accounting
  • Preparing for Year-End Adjustments
  • The Accrual Basis of Accounting

• The Closing Process

  • Closing the Books at the End of the Year
  • Preparing for the Next Accounting Period
  • How to Transfer Balances to Retained Earnings

• The Importance of Financial Management

  • Cash Management and Budgeting
  • Analyzing Your Business Performance
  • Planning for Growth and Expansion

• Understanding Taxes and Compliance

  • Sales Tax and Other Tax Considerations
  • Record-Keeping for Tax Purposes
  • Filing Your Tax Returns

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