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Summary: If accounting terms leave you baffled, this book is for you!
Review: Darrell Mullis and Judith Orloff have created an easy to read and simple introduction to practically every accounting concept you will need to run a small business. Their method is simple: you are a kid with a lemonade stand. You need to handle cash, inventory, assets, liabilities, and so on while you run your business. Through this very simple approach they succeed in teaching some of the most critical accounting concepts. And they make it fun!(c)1999, VentureConsult.com
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Summary: Fantastic Learning Tool
Review: 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. The authors help the reader understand the principles without getting caught up in large numbers to confuse matters. This book is a brilliant analysis of the original small business --a lemonade stand. This business starts off simple and progresses into a more and more complex financial entity over the course of several weeks. While it is so well explained that even the average teen could undertsand it, this book is a serious learning tool for anyone and does not in any way take on a condescending tone. The authors have fun, but offer meaty information. Ever wonder what the difference and advantages are between the accural and cash methods or why the statement of cashflows is so important or how depreciation effects the bottom line or how the decision to use LIFO or FIFO effects the income statement? All those answers and many more are nicely illustrated in this wonderful book.
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Summary: a must read for all..even accountants
Review: ever get bombarded with terms like revenues, bottom line, gross margin, fifo, negative cash flow? i had taken almost 21 units of accounting in college but without practice(marketing is my expertise) i have but almost forgotten the meaning of the terms as well as the relationships among the balance sheet, income statement and statement of cash flows. this book relies on the simple method of relating the basics of accounting to running a small business as a kid(a lemonade stand) and then applies the principles of accounting to it. although i never did have problems with my accounting courses, my classmates did and they could have used a quite engaging method as described by "the accounting game." even if you are in the financial/accounting field, this would still provide you with ways of explaining concepts to non-financial people. i would highly recommend this as a must read...
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Summary: What an approach !!!
Review: For those who are trying to make their first step into accounting, and for those who are looking for refreshing their basic accounting knowledge, this is the book you need. The approach is great, I couldn't stop reading, finished it in exactly two consecutive nights. So easy to understand with the minimum intellectual effort.
Rating:
Summary: What an approach !!!
Review: For those who are trying to make their first step into accounting, and for those who are looking for refreshing their basic accounting knowledge, this is the book you need. The approach is great, I couldn't stop reading, finished it in exactly two consecutive nights. So easy to understand with the minimum intellectual effort.
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Summary: Great book for beginners
Review: I am in the process of improving my financial literacy and like many others had always felt that accounting was dry, informal and boring. Once I picked up this book however I was engrossed and finished it in just a few days. My understanding of accounting, and more importantly how a business operates, increased by orders of magnitude. I really noticed when I came into the office yesterday and struck up a conversation with one of our stategic business planners. Before long I was pouring over our last annual report's financial statements and getting it!!!
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Summary: Excellent Training Tool
Review: I am using this book to teach accounting fundamentals to my accounting staff. It is filled with important accounting concepts and terms that are explained with easy to understand examples. The book actually teaches itself. However, my students read a chapter and complete the related transactions before each class. We then go over the chapter together and apply what we learned to our daily accounting responsibilities. I have been a certified public accountant for almost 25 years and I have personally benefited from the review of accounting concepts presented in this book.
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Summary: Accounting Game
Review: I finally grasped the basic concepts of accounting with this book. It puts everything in terms that the average Joe Blow can understand. Has color coded worksheets to help you understand why and how things get placed where they do.
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Summary: Now I understand!
Review: I have no accounting background and was very frustrated with the accounting class I was taking and the book that we used for it -- it jumped around too much making a busy topic all the busier. This book put quite a bit of it into perspective.
I wouldn't have minded a little more length for better handling of the statement of cash flows. Also, the book leads and uses the balance sheet primarily where the application should be reversed -- build the income statement and then the balance sheet.
I'd love to see more books like this on a variety of topics.
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Summary: Elated
Review: I originally ordered the Accounting Game as a tool to use for teaching my nephews and nieces about accounting. Instead, I ended up using it as a tool to teach co-workers about accounting. The co-workers were five employees from different areas of the same division of a large company. Because everyone has limited time, we chose to go through the contents in five days (1 1/2 hours each day). The small group was "elated" with the content; I could see light bulbs going on all over the small conference room. Most interesting to the group were the 3 financial statements, inventory valuation, and the difference between cash flow and earnings. I fully intend to use the book again for a much larger group of co-workers and my nephews and nieces. Thanks again for providing this wonderful seminar (which I've never attended) in the form of a book.
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