That's what this short book is all about.
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Fast--60 minutes or less.Â
Easy--like keeping score.Â
Bite-sized lessons.Â
Simple illustrations.Â
No prerequisites.
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** Video sample at amazon.com/author/loganmusil **
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Master accounting basics by building on what you already know--how to add up points scored by a team! We start out with a one-hour-or-less crash course. We add up points for a few games, and before you know it you've mastered accounts, ledgers, double-entry accounting and the accounting equation! We then switch gears to real-world accounting, where points become dollars. Before long you'll be a pro at basic accounting!Â
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Some of the essentials you'll learn in no time:Â
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* The purpose of accounting: What is the score?Â
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* Accounts and ledgers: Keeping score the easy wayÂ
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* Double-entry accounting: One game, many pointsÂ
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* The accounting equation: Keeping score for teammates and meÂ
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* How to record transactions using the accounting equation and double-entry accounting: Just like adding up points (for games), but with dollars (for transactions)Â
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* Debits & credits: It's that easy?!Â
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* How to prepare financial statements:Â
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* Balance sheet: The today pictureÂ
o Assets: How much do we own--today?Â
o Liabilities: How much do we owe--today?Â
o Owners' equity: How much is left over--today?Â
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* Income statement: The annual pictureÂ
o Revenues: How much did we make--this year?Â
o Expenses: How much did we spend--this year?Â
o Net income: How much did we profit--this year?
