The Accounting game is worth reading accounting book that comprehensively explains complex accounting in a fun and easy way.
This book uses the world of a kid's lemonade stand to teach the basics of financial terms You'll run your own lemonade stand and make it grow by creating signs to advertise it, borrowing money from Mom, buying lemons and sugar and selling to the whole neighborhood. 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:
- Know the difference between accrual vs. cash accounting methods
- Create and understand an income statement and balance sheet
- Track inventory using LIFO and FIFO
- Create cash statements and understand cash flow and liquidity
- Apply your new knowledge to real-life situations
The innovatory approach of The Accounting Game takes the typically complex and boring subject of accounting and business finance a fun game. The concept of understand, learn and use has made this book a step ahead from other like books.
The following three basic financial statements have been explained in a very good way
- the balance sheet
- the income statement
- the cash flow statement.
To sum up, it is worth studying book, which should not be missed in any case!
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