Do you envision yourself as an entrepreneur or owning a business? Maybe you have an interest in an Accounting or Business degree. All business needs to maintain their financial records or books. Everyone can benefit from understanding this process. Bookkeeping allows a business to realize if they are profitable or not.
In this class you will learn the structure and purpose of the three primary financial statements: the balance sheet, the income statement and the cash flow statement. You will also learn the basic language of business concepts like cost of goods sold, expenses, bad debts, accrual vs. cash methods of accounting, FIFO and LIFO, capitalizing vs. expensing, depreciation and the difference between cash and profit. This information will teach you how to analyze financial information and make better decisions for a business.
Warning, we will be playing Monopoly in this class!
The Accounting Game: Basic Accounting Fresh from the Lemonade Stand Revised Edition by Darrell Mullis and Judith Orloff (ISBN 978-1402211867). Used copies start at $10 on Amazon (Order at http://amzn.to/2usMlFb)