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The Accounting Game: Basic Accounting Fresh from the Lemonade Stand / Edition 2

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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

ISBN-13: 9781402211867

Publisher: Sourcebooks

Publication Date: 03-01-2008

Pages: 192

Product Dimensions: 8.30(w) x 10.80(h) x 0.60(d)

Judith Orloff For the past 25 years, Judith Orloff has been helping people transform their lives through self-awareness and education. Among her most significant accomplishments is the founding of the Burlington College in Vermont, where she also created a B.A. program in Transpersonal Psychology. In addition, Orloff is the founder of Educational Discoveries, Inc. Darrell Mullis Darrell Mullis served as the Director of Training and Development at Educational Discoveries for over twelve years where he taught EDI's learning technology and developed a training program for its trainers. Mullis has also taught over 300 of the phenomenally successful Accounting Game seminars to thousands of Americans. Mullis lives with his four daughters in Louisville, Colorado.

Table of Contents

Introduction

Pre-Test

Chapter 1: Cash, Original Investment, Assets, Liabilities, Notes Payable, Owner's Equity, Balance Sheets, Inventory, Earnings, Expenses

Chapter 2: Gross Profit, Net Profit, Income Statements, Cash Flow

Chapter 3: Retained Earnings, Loans, Credit, Accounts Payable, Notes Payable

Chapter 4: Paid Labor, Accounts Receivable, Bad Debt, Interest, Prepaid Expenses, Accrual Method, Cash Method, Creative Accounting

Chapter 5: Service Businesses

Chapter 6: FIFO, LIFO

Chapter 7: Cash Statements, Fixed Assets, Capitalization, Depreciation

Chapter 8: Profits vs. Cash

Chapter 9: Taxes, Liquidation

Chapter 10: Final Analysis – Improving Profits

Post-Test

Answer Key

Glossary

Index

About the Authors

Diploma