Introducing the Essentials of Basic Accounting Get it Straight

These 80 pages: "Introducing the Essentials of Basic Accounting, Get it Straight is, what you see, is what you get. It is a thorough introduction to the essentials: From the basic definitions, what makes up the financial statements from the definitions, make makes up the financial statements, (U.S. GAAP and IFRS) applying debits and credits, the Chart of Accounts, what is an account? Among others to a mini-income statement and balance sheet. Oher topics: Accruals, depreciation disposition of a capital asset, cost of sales, subscription revenue, prepayments, adjusting journal entries, cash vs the accrual methods, manufacturing and Ratios. As a small business owner, does your bookkeeper tells you whatever they want as you know nothing about basic accounting? The bookkeeper can hold a gun to your head Gain an immediate (rate of return) on professional fees paid as you aren't paying the accountant for repeating the concept month after month. Use the time to ask more important questions. Beginning Accounting 101? Gain an overview of the accounting basics? Time is money. Spent 18 hours viewing free YouTube videos coming out more confused than you went in? Most of these videos serve as bait to sign on new clients, replacing the one you have. When all said and done, the move is generating zero benefit and possibly, hidden higher fees. You don't speak the accountant's language. "Accounting is the Language of Business" from the smallest to the multinational. Anybody can produce a financial statement or the data for tax filing. Is it Accurate? The 3Q's: The quality of the reports depends on the quality of the input and the quality of the management of the input" The accounting section in: "Financial Accounting, Corporate Structure, U.S. Bankruptcy, U.S. IRS Tax Debt Relief Programs, U.S IRS Audit and falling under Intellectual Property: Copyrights, Patents, Trademarks and Trade Secrets" Get it Straight which is 80% question and answer format is more detailed, for example, the introduction to the balance sheet is over 20 pages. Don't wait for a financial disaster before gaining these essential accounting basics.

My father was an accountant, and as a rebel career wise didn't want to "Like father, like son" So, right or wrong, went out of his way suggesting careers we both knew, wouldn't make it. I eventually decided on a hotel management trainee program. After passing through a few departments, it was my turn for a stint in accounting. I may as well have been drafted. I recall, the first task was coming up with a solution to an on-going issue and supporting my reasons. I remained within the hospitality accounting field until the early 2000;s working in chain hotels in London England, Los Angeles and finally New York City. I started as a Night Auditor in the days when they NCR 42 which has long passed to the graveyard. I would say, for the hospitality industry, certainly from the management and administration aspects, they finally entered the modern era. Fortunately, I had upgraded my skills, (continue to this day) enabled me to transfer with ease to consulting with small businesses and taking up corporate employment. Although "Accounting is the Language of Business" and accountants may easily develop the mentality that, accountants and attorneys are protected by full employment due to the constant changing of events. Even with continuing education, full employment is nowhere guaranteed. Although I spent many years in the hospitality industry, thanks to continuing education and an enquiring mind, have capitalized in adapting to accounting outside the hotel industry. Industries tend to look for employees who have extensive experience within that their industry and unfortunately, it is my perception the industry is inhospitable to those coming from outside. "Accounting the Language of Business isn't restricted to any one industry. To be fair, accounting for manufacturing an aircraft will need specialized skills. There isn't a huge difference in taking inventory for beverages as it is for clothing, or one of favorite examples, a health store. I plan on a book release for accounting for the hospitality industry. I have consulted for small businesses as well being solely responsible for the accounting for a small business.

Chapter 1: Accounting vs Accountancy The Four Branches of Accounting The Financial Statements Accounting the Language of Business Chapter 2: What makes up the Balance Sheet Briefly - Some Limitations Chapter 3: Essential Basics Transactions Chapter 4: Steps before the Adjusted Trial Balance Chapter 5: Ownership U.S.GAAP vs IFRS Year End Chapter 6: The Accrual Method vs the Cash Method Chapter 7: GAAP Rules vs IFRS Principles Manufacturing Chapter 8: Ratios Format