2nd Edition by Edwin Olima FCCA
PRACTICE, PRACTICE, PRACTICE
REAL WORLD ACCOUNTING WITHOUT DISTRACTIONS
FREE Sample Accounting
E-Book (View all chapters and do the first exercise for FREE)
As mentioned earlier, true accounting knowledge must be gained through practical work in addition to reading. To give you a taste of what the lessons will be like, a sample e-book is available to download free without obligation. In the sample e-book you can view all the chapters and can do the first exercise all for free and with no obligation (Please click Free Downloads). You can also view the contents of the accounting book from the home page.
If you like the book and would like the full accounting book you simply click "Buy E-book" to purchase your full access PIN.
The realities of doing business.
Accounting in any business must cover the three main areas of business activity: sales, purchases, and bank transactions so does "Accounting Insight". A business must win sales in order to survive. And In order to be able to offer goods or services for sale it must incur expenses. For example, once the sales deal has been won or a market has been identified, a business will activate its business resources into creating the product or service that the customer wants. In doing so they purchase various items and services they need usually on credit, hence the supplier accounts function which records all goods and services purchased on credit. Once the product is ready it is delivered to the customer who may pay for the goods right away or after a credit period. If credit is taken by the customers then the business must maintain customer accounts to determine who owes the business cash and when to collect it. Once cash flows from the customers to the bank account, the cash can be used to pay off the trade suppliers/ creditors.
After a given period of time of business activity, a profit can be calculated from the records kept. This profit may be drawn leaving enough funds for the business to continue the next cycle of sales (turnover). Alternatively, if the business wants to grow it can reinvest the profits in the business to generate even more sales from future activity.
You will agree that no matter what business one is in, sales, purchases, and bank transactions represent the core of business activity and once one understands how to record this they are able to do 90% or more of the accounting work of a business. It is with this in mind that I have concentrated on these core accounting functions. In the book they are simple to follow and they mirror what happens in practice.
Accounting Methods In a short space of time (15 hours or less).
By focusing on efficient and effective accounting, the book will not only give you confidence in accounting but also a method with which to approach an accounting task. Methods are useful tools which once mastered and practiced make ones work easier.
To help you acquire a practical accounting method, the format of the book and the accounting work pack mirror the real world activity. In addition, each chapter progressively builds on the previous chapter. Each chapter is brief, keeps to the practical points illustrated and takes about 1 hour or less to complete. In all you can complete the book in 15 hours or less. So in less than one day you could acquire essential and practical accounting knowledge!
You get to learn the essence of accounting without the pressure of the work place, demanding bosses and incomplete information. The method of accounting once acquired will build your confidence in book-keeping and accounts preparation thus providing you with a solid foundation for further acquisition of accounting knowledge.
Finally, not only will you acquire a practical method of accounting, you can practice any accounting software with the work pack included in the book!