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Accounting Made Simple: Accounting Explained in 100 Pages or Less
Find all of the following explained in Plain-English with no technical
The Accounting Equation and why it's so significant
How to read and prepare financial statements
How to calculate and interpret several different financial ratios
The concepts and assumptions behind Generally Accepted Accounting Principles (GAAP)
Preparing journal entries with debits and credits
Cash method vs. accrual method
Inventory and Cost of Goods Sold
How to calculate depreciation and amortization expenses
The Accounting Equation and why it's so significant
How to read and prepare financial statements
How to calculate and interpret several different financial ratios
The concepts and assumptions behind Generally Accepted Accounting Principles (GAAP)
Preparing journal entries with debits and credits
Cash method vs. accrual method
Inventory and Cost of Goods Sold
How to calculate depreciation and amortization expenses
114 pages, Paperback
First published December 1, 2008
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September 9, 2020
Objective Summary
Piper summarizes the fundamentals of financial accounting in less than 100 pages. Key points:
1. Accounting is the language of business.
2. The Accounting Equation is ALOE: Assets = Liabilities + Owner’s Equity. This equation is always true with no exceptions. Owner’s Equity is just a plug. Through algebra, the accounting equation can be rewritten as: Assets – Liabilities = Owner’s Equity.
3. Cash accounting records revenues when received and records expenses when paid. Accrual accounting records revenues and expenses when they are accrued, regardless of when cash changes hands. For example, assume a manufacturer delivers goods on January 15 to a buyer who doesn’t pay until February 15. In cash accounting, the manufacturer records revenue in February. In accrual accounting, the manufacturer records revenue in January. Accrual accounting more accurately reflects economic reality.
4. Accounting has four basic financial statements:
a. Balance Sheet,
b. Income Statement,
c. Statement of Retained Earnings, and
d. Cash Flow Statement.
5. Balance Sheets are snapshots in time showing assets, liabilities, and owner’s equity at that moment.
6. Income Statements are recordings over a period of time, typically one year or one quarter, showing income and expenses during that period of time.
7. Statements of Retained Earnings bridge the Balance Sheet and Income Statement. Dividends are not expenses, and retained earnings are not the same as cash. Closing entries zero out Income Statement balances at the end of the period, and additional entries transfer the balances to the Statement of Retained Earnings.
8. Cash Flow Statements show the flow of cash, as opposed to the Income Statement which typically shows accrual accounting.
9. Generally Accepted Accounting Principles (“GAAP”) are governed by the Financial Accounting Standards Board (“FASB”) in the United States. GAAP allows investors to understand and compare the financial health of different companies. In most cases, GAAP makes the following assumptions:
a. Assets are recorded at their historical cost (i.e., the price paid for them).
b. Immaterial items may not require their own journal entries.
c. The matching principle requires expenses to be matched to the revenues they helped generate, and they must be recorded in the same period that the revenue is recorded.
10. Financial accounting uses a double-entry system involving debits and credits. Debits are to the left and credits are indented to the right in journal entries on the general ledger. Every material transaction has a journal entry of debits and credits involving at least two accounts.
a. DEALOR is a useful acronym for remembering which accounts are increased by debits and which by credits. DEA = dividends, expenses, and assets. LOR = liabilities, owner’s equity, and revenues.
b. For example, a sale of services paid for in cash when the services were delivered may involve a debit to cash (an asset) and a credit to revenue.
c. Alternatively, under accrual accounting, the same sale of services may involve a debit to accounts receivable (an asset), and a credit to revenue.
11. Tangible assets lasting longer than one year are depreciated such that the cost of the asset is expensed over multiple periods. Straight-line depreciation depreciates the asset equally over its useful life. So an asset with a 10-year useful life would be depreciated (essentially expensed) by 10% each year for 10 years. Gains and losses are recorded if the asset has salvage value and is sold at a price above or below the book value at the time of the sale.
a. The double declining balance method accelerates depreciation by using a percentage double that which would be used in the straight-line depreciation method.
12. Amortization is the same as depreciation except that the former applies to intangible assets while the latter applies to tangible assets. Intangible assets like patents, copyrights, and trademarks, are amortized over the shorter of the asset’s (1) expected useful life or (2) legal life.
13. Cost of Goods Sold (“COGS”) is an expense account that reflects the cost of inventory sold to generate revenue. Inventory can be either (1) perpetual or (2) periodic.
a. Perpetual inventory tracks each item sold and the COGS for that item. For example, retailers using barcodes may use a perpetual inventory system.
b. Periodic inventories are measured periodically (e.g., monthly) and calculated COGS as follows: Beginning Inventory + Inventory Purchases – Ending Inventory = COGS. A periodic inventory system requires assumptions about which items of inventory were sold. The choice of assumptions is:
i. Last-in, first-out (“LIFO”)
ii. First-in, first-out (“FIFO”)
iii. Average cost
Subjective Thoughts
Less is more, and Piper is hella efficient. I have accounting experience from both an educational (majored in it, studied it but didn’t get a CPA) and professional (internal auditor, tax attorney) perspective. This book did an outstanding job of summarizing the financial accounting fundamentals. It should be a useful quick-reference guide to any business majors, sole proprietors, entrepreneurs, bookkeepers, investors, or laypersons with interest. The information contained in this book is required for success in any of these areas.
What I most appreciate about this particular book is the lack of fluff, filler, or obfuscation. I get the distinct impression that Piper is trying to convey the information as easily as possible rather than dazzle me with his own knowledge. That’s quite refreshing, and I wish more authors would take the same approach. The only slight critique or room for improvement I see is that this book did not have the DEALOR acronym I wrote in 10.a. above. I picked that trick up from my accounting professor—thanks Wayne Thomas. This is a minor quibble because few would argue that a 100-page pamphlet could adequately replace a college degree. But damn if this book didn’t come as close as conceivably possible. It would be great to have this style of book on other topics. Off the top of my head, I’d read such books on philosophy, government, finance, real estate ownership or investing, taxes, psychology, professional sports, computing, engineering, physics, chemistry, etc. The quest for knowledge continues.
Piper summarizes the fundamentals of financial accounting in less than 100 pages. Key points:
1. Accounting is the language of business.
2. The Accounting Equation is ALOE: Assets = Liabilities + Owner’s Equity. This equation is always true with no exceptions. Owner’s Equity is just a plug. Through algebra, the accounting equation can be rewritten as: Assets – Liabilities = Owner’s Equity.
3. Cash accounting records revenues when received and records expenses when paid. Accrual accounting records revenues and expenses when they are accrued, regardless of when cash changes hands. For example, assume a manufacturer delivers goods on January 15 to a buyer who doesn’t pay until February 15. In cash accounting, the manufacturer records revenue in February. In accrual accounting, the manufacturer records revenue in January. Accrual accounting more accurately reflects economic reality.
4. Accounting has four basic financial statements:
a. Balance Sheet,
b. Income Statement,
c. Statement of Retained Earnings, and
d. Cash Flow Statement.
5. Balance Sheets are snapshots in time showing assets, liabilities, and owner’s equity at that moment.
6. Income Statements are recordings over a period of time, typically one year or one quarter, showing income and expenses during that period of time.
7. Statements of Retained Earnings bridge the Balance Sheet and Income Statement. Dividends are not expenses, and retained earnings are not the same as cash. Closing entries zero out Income Statement balances at the end of the period, and additional entries transfer the balances to the Statement of Retained Earnings.
8. Cash Flow Statements show the flow of cash, as opposed to the Income Statement which typically shows accrual accounting.
9. Generally Accepted Accounting Principles (“GAAP”) are governed by the Financial Accounting Standards Board (“FASB”) in the United States. GAAP allows investors to understand and compare the financial health of different companies. In most cases, GAAP makes the following assumptions:
a. Assets are recorded at their historical cost (i.e., the price paid for them).
b. Immaterial items may not require their own journal entries.
c. The matching principle requires expenses to be matched to the revenues they helped generate, and they must be recorded in the same period that the revenue is recorded.
10. Financial accounting uses a double-entry system involving debits and credits. Debits are to the left and credits are indented to the right in journal entries on the general ledger. Every material transaction has a journal entry of debits and credits involving at least two accounts.
a. DEALOR is a useful acronym for remembering which accounts are increased by debits and which by credits. DEA = dividends, expenses, and assets. LOR = liabilities, owner’s equity, and revenues.
b. For example, a sale of services paid for in cash when the services were delivered may involve a debit to cash (an asset) and a credit to revenue.
c. Alternatively, under accrual accounting, the same sale of services may involve a debit to accounts receivable (an asset), and a credit to revenue.
11. Tangible assets lasting longer than one year are depreciated such that the cost of the asset is expensed over multiple periods. Straight-line depreciation depreciates the asset equally over its useful life. So an asset with a 10-year useful life would be depreciated (essentially expensed) by 10% each year for 10 years. Gains and losses are recorded if the asset has salvage value and is sold at a price above or below the book value at the time of the sale.
a. The double declining balance method accelerates depreciation by using a percentage double that which would be used in the straight-line depreciation method.
12. Amortization is the same as depreciation except that the former applies to intangible assets while the latter applies to tangible assets. Intangible assets like patents, copyrights, and trademarks, are amortized over the shorter of the asset’s (1) expected useful life or (2) legal life.
13. Cost of Goods Sold (“COGS”) is an expense account that reflects the cost of inventory sold to generate revenue. Inventory can be either (1) perpetual or (2) periodic.
a. Perpetual inventory tracks each item sold and the COGS for that item. For example, retailers using barcodes may use a perpetual inventory system.
b. Periodic inventories are measured periodically (e.g., monthly) and calculated COGS as follows: Beginning Inventory + Inventory Purchases – Ending Inventory = COGS. A periodic inventory system requires assumptions about which items of inventory were sold. The choice of assumptions is:
i. Last-in, first-out (“LIFO”)
ii. First-in, first-out (“FIFO”)
iii. Average cost
Subjective Thoughts
Less is more, and Piper is hella efficient. I have accounting experience from both an educational (majored in it, studied it but didn’t get a CPA) and professional (internal auditor, tax attorney) perspective. This book did an outstanding job of summarizing the financial accounting fundamentals. It should be a useful quick-reference guide to any business majors, sole proprietors, entrepreneurs, bookkeepers, investors, or laypersons with interest. The information contained in this book is required for success in any of these areas.
What I most appreciate about this particular book is the lack of fluff, filler, or obfuscation. I get the distinct impression that Piper is trying to convey the information as easily as possible rather than dazzle me with his own knowledge. That’s quite refreshing, and I wish more authors would take the same approach. The only slight critique or room for improvement I see is that this book did not have the DEALOR acronym I wrote in 10.a. above. I picked that trick up from my accounting professor—thanks Wayne Thomas. This is a minor quibble because few would argue that a 100-page pamphlet could adequately replace a college degree. But damn if this book didn’t come as close as conceivably possible. It would be great to have this style of book on other topics. Off the top of my head, I’d read such books on philosophy, government, finance, real estate ownership or investing, taxes, psychology, professional sports, computing, engineering, physics, chemistry, etc. The quest for knowledge continues.
October 18, 2014
Accounting made simple but a little bit too simple
This short book will help you understand the basics of financial statements and Generally Accepted Accounting Principles. It's a nice introduction but it felt way too light. It doesn't strike the right balance between brevity and usefulness.
This short book will help you understand the basics of financial statements and Generally Accepted Accounting Principles. It's a nice introduction but it felt way too light. It doesn't strike the right balance between brevity and usefulness.
March 26, 2013
It really explain basic accounting concept in under hundred pages. Not too much detail but you will have good overview of the accounting system of a small business.
January 20, 2018
Very simple introduction to beginners supported by examples for most important basics of accounting.
June 24, 2021
Explain accounting principles very simple
February 4, 2017
Compact and concise, this is probably the best option for those who just want a refresher of accounting. Although I felt like it was lacking in some areas (mainly how to financial statements change over time), I guess I can't really complain because there is only so much you can fit in 100 pages...
Pros:
+ Truly a fast read (can finish in an hour)
+ Hits the basics but nothing more
+ Easy reference material (e.g., well-defined chapters, summary section at the end of every chapter)
Cons:
- Lacking in some areas that are important (namely how financial statements change over time with new items, etc.)
Conclusion:
After browsing around for different options, it appears this might be the best option for a short book that summarizes basic accounting. Though I'm not completely satisfied with this book, you can't be too picky when trying to find a summary that is 100 pages or less...
Pros:
+ Truly a fast read (can finish in an hour)
+ Hits the basics but nothing more
+ Easy reference material (e.g., well-defined chapters, summary section at the end of every chapter)
Cons:
- Lacking in some areas that are important (namely how financial statements change over time with new items, etc.)
Conclusion:
After browsing around for different options, it appears this might be the best option for a short book that summarizes basic accounting. Though I'm not completely satisfied with this book, you can't be too picky when trying to find a summary that is 100 pages or less...
August 21, 2018
An introductory text on accounting should in some form or another include: a) the accounting principles that form the normative base, b) bookkeeping procedures that provide the input for the accounting and c) the financial statements that constitute the output. The question is in what order these building blocks should be assembled in order for the reader to best comprehend the whole. The order above is perhaps the most logical but presenting principles before their application risks making them too abstract, presenting the end result ahead of the principles makes no sense as the reader cannot fully appreciate what they are seeing. The author has solved this in a rather clever way. He presents various accounting principles as they are needed to understand the practical application that is covered next by the text. Mike Piper is the author of introductory level books on an array of economic areas. Piper a certified public accountant, former financial advisor, tax accountant and nowadays full time author, has written nine books on personal finance topics – all with the subtitle “Explained in 100 Pages or Less”. This text aims to give a quick basic understanding of accounting and bookkeeping.
After explaining the accounting equation, which is that assets equal liabilities plus owner’s equity, Part One of the book presents the balance sheet, the income statement, the statement of retained earnings and the cash flow statement in four separate chapters. Most major line items on the financial statements are given a short but adequate explanation and topics such as the difference between current and long term balance sheet items, operating vs. net income, retained earnings as a bridge between the income statement and the balance sheet and the three categories of cash flows are discussed. To help the reader draw conclusions from the financial statements part one ends with a chapter on financial ratios. Two or three ratios each are presented under the headers liquidity ratios, profitability ratios, leverage ratios and asset turnover ratios. This is all fine but in his efforts to simplify for the benefit of the user Piper in one instance goes too far. The numerator in return on assets is not the same as the one in return on equity. Return on assets uses pre-tax income plus financial costs, not net income.
Part two is a mix of accounting principles, bookkeeping and a few slightly more complicated financial statement topics. After briefly discussing FASB and GAAP, the author describes the bookkeeping process with the debits and credits of the double-entry accounting, T-accounts, general ledgers and trial balances. Piper then proceeds with a chapter on accrual accounting, - this separation of cash inflows and outflows from recorded revenues and expenses that is perhaps one of the less intuitive ones for the non accountant reader and that is also the arena for most of the accounting irregularities in real life. However, accruals are important to understand as the topic next in line is the closing of the books. The book totals ninety-seven pages and so Piper has three pages to spare. The discussion on how to close the books could have benefited from at least one of these. It is a bit too brief to be educative (I would also dedicate one page to a flow chart between the financial statements to complement part one). After a presentation of a number of remaining accounting principles - where the text on historical cost principle in my opinion at least could have mentioned the more prevalent use of mark to market in today’s accounting, Part Two wraps up with three chapters of left over topics, namely depreciation of fixed assets, amortization of intangible assets and a discussion of inventory and CoGS.
Who is the main beneficiary of this book? The text is really basic and it’s not really practical enough for the person who wants to start keeping the books in a business and it doesn’t problematize or point to loopholes that would help a financial analyst. However, it is absolutely perfect for a one day read prior to taking a university class in accounting. Everything the teacher says during the course will make perfect sense.
After explaining the accounting equation, which is that assets equal liabilities plus owner’s equity, Part One of the book presents the balance sheet, the income statement, the statement of retained earnings and the cash flow statement in four separate chapters. Most major line items on the financial statements are given a short but adequate explanation and topics such as the difference between current and long term balance sheet items, operating vs. net income, retained earnings as a bridge between the income statement and the balance sheet and the three categories of cash flows are discussed. To help the reader draw conclusions from the financial statements part one ends with a chapter on financial ratios. Two or three ratios each are presented under the headers liquidity ratios, profitability ratios, leverage ratios and asset turnover ratios. This is all fine but in his efforts to simplify for the benefit of the user Piper in one instance goes too far. The numerator in return on assets is not the same as the one in return on equity. Return on assets uses pre-tax income plus financial costs, not net income.
Part two is a mix of accounting principles, bookkeeping and a few slightly more complicated financial statement topics. After briefly discussing FASB and GAAP, the author describes the bookkeeping process with the debits and credits of the double-entry accounting, T-accounts, general ledgers and trial balances. Piper then proceeds with a chapter on accrual accounting, - this separation of cash inflows and outflows from recorded revenues and expenses that is perhaps one of the less intuitive ones for the non accountant reader and that is also the arena for most of the accounting irregularities in real life. However, accruals are important to understand as the topic next in line is the closing of the books. The book totals ninety-seven pages and so Piper has three pages to spare. The discussion on how to close the books could have benefited from at least one of these. It is a bit too brief to be educative (I would also dedicate one page to a flow chart between the financial statements to complement part one). After a presentation of a number of remaining accounting principles - where the text on historical cost principle in my opinion at least could have mentioned the more prevalent use of mark to market in today’s accounting, Part Two wraps up with three chapters of left over topics, namely depreciation of fixed assets, amortization of intangible assets and a discussion of inventory and CoGS.
Who is the main beneficiary of this book? The text is really basic and it’s not really practical enough for the person who wants to start keeping the books in a business and it doesn’t problematize or point to loopholes that would help a financial analyst. However, it is absolutely perfect for a one day read prior to taking a university class in accounting. Everything the teacher says during the course will make perfect sense.
September 11, 2020
Great book. Explain the basics of accounting very good, it will help you to read important documents like income statement, balance sheet and more! I enjoyed to read this book and will definitely benefit from this new knowledge in future!
September 26, 2018
It is a very simple introduction, but sufficient enough to help me recalling my long lost school time accounting within a very short period of time.
May 23, 2022
The best refreshment.
April 14, 2021
A very short summary.
May 24, 2019
The book highlights accounting topics with a limited number of good practical cases. Very suitable as an introduction in understanding what accounting means and how it is practiced, although the book is not meant to be deep and abundant in regards to cases of the real world.
February 18, 2019
I think the book is a good glossary for terms in accounting, but if you want to understand the concepts better with examples and exercises, I would recommend this book: https://www.goodreads.com/book/show/4...
Also, if afterwards you want to take these concepts and understand how can you use these in making decisions as a business owner, this book is a good complement for the McGraw Hill Course: https://www.goodreads.com/book/show/5...
Also, if afterwards you want to take these concepts and understand how can you use these in making decisions as a business owner, this book is a good complement for the McGraw Hill Course: https://www.goodreads.com/book/show/5...
August 3, 2017
This book contains key concepts that been clearly outlined, which is easy for one to understand, especially on deciphering financial statement and financial ratios. I would recommend it to those who have a non-financial background, it will be worth your time to understand the basics and the building blocks.
January 31, 2017
I came across this book through Amazon's suggestion while purchasing Thomas Ittelson's popular title. A few reviews were raving about its simplicity; so I thought to have a go at it too.
True to its words, the book is a beautiful primer and a good beginning point for lessons in Accounting. In 100 pages, it does a fantastic job of giving a quick glance through all types of financial statements, and why they are presented in that fashion. Starting from why owner's equity often is nothing more than a plug figure, it goes on to build tricky concepts like why dividend is not considered expense, etc. Every concept is explained with plenty focused examples which helped me get the hang of it. Specially the Debit-credit conundrum for different types of accounts has been explained brilliantly, that too without resorting to so called 3 Golden principles. (On a side note, the Golden Principles are too glittery, and often confuses beginners like me. Mike Piper's approach of giving intuitive explanation I find more useful than these so called principles.
But simplicity has its costs. It does not try to dwell on how Gross Profit Margin has implications for Inventory.
Having learned most of these topics through Youtube videos recently, I wasn't really hoping this book to be more than just a revision material. But it proved to be much more than that. Because of its simplicity and limited scope, it did not take more than two hours to finish... And borrowing from accounting jugglery, cost-benefit ratio in that sense was really good. Recommended for the noobs.
True to its words, the book is a beautiful primer and a good beginning point for lessons in Accounting. In 100 pages, it does a fantastic job of giving a quick glance through all types of financial statements, and why they are presented in that fashion. Starting from why owner's equity often is nothing more than a plug figure, it goes on to build tricky concepts like why dividend is not considered expense, etc. Every concept is explained with plenty focused examples which helped me get the hang of it. Specially the Debit-credit conundrum for different types of accounts has been explained brilliantly, that too without resorting to so called 3 Golden principles. (On a side note, the Golden Principles are too glittery, and often confuses beginners like me. Mike Piper's approach of giving intuitive explanation I find more useful than these so called principles.
But simplicity has its costs. It does not try to dwell on how Gross Profit Margin has implications for Inventory.
Having learned most of these topics through Youtube videos recently, I wasn't really hoping this book to be more than just a revision material. But it proved to be much more than that. Because of its simplicity and limited scope, it did not take more than two hours to finish... And borrowing from accounting jugglery, cost-benefit ratio in that sense was really good. Recommended for the noobs.
June 28, 2020
Easy-to-read book explaining accounting at a beginner's level.
Mike Piper's "Accounting Made Simple" is exactly what it says. The book contains the very basic accounting fundamentals with short definitions of accounting terms as well as super simple examples. This book is meant to teach the bare bones of accounting to the reader so that they will at least have an idea behind it and apply some of the ideas to their assignments.
Although the simplicity of the examples provided to back up the accounting terminologies is the book's strength, I would say that its weakness is the lack of real life accounting case studies. I understand that the author may have chosen to opt out of adding real scenarios for the sake of simplicity, however if there were at least simplified examples of such scenarios then the readers would have had a better opportunity to show interest in more advanced accounting techniques later on.
Nevertheless, "Accounting Made Simple" is still a good solid read and ideal for people who want to have a core understanding of accounting. It is better to know some of the subject than none at all, and I really appreciate that Mr. Piper created a good starting point for readers. I can see this book becoming a nice little handbook for core beginner's accounting in the future; it is worth adding next to the other must-read business books on your list.
Mike Piper's "Accounting Made Simple" is exactly what it says. The book contains the very basic accounting fundamentals with short definitions of accounting terms as well as super simple examples. This book is meant to teach the bare bones of accounting to the reader so that they will at least have an idea behind it and apply some of the ideas to their assignments.
Although the simplicity of the examples provided to back up the accounting terminologies is the book's strength, I would say that its weakness is the lack of real life accounting case studies. I understand that the author may have chosen to opt out of adding real scenarios for the sake of simplicity, however if there were at least simplified examples of such scenarios then the readers would have had a better opportunity to show interest in more advanced accounting techniques later on.
Nevertheless, "Accounting Made Simple" is still a good solid read and ideal for people who want to have a core understanding of accounting. It is better to know some of the subject than none at all, and I really appreciate that Mr. Piper created a good starting point for readers. I can see this book becoming a nice little handbook for core beginner's accounting in the future; it is worth adding next to the other must-read business books on your list.
April 13, 2020
Quick and to the point. Simple enough I could understand the basics of each concept and the basics and importance of accounting yet detailed enough to let me know I should hire a professional accountant who understands it perfectly. I got the information I needed, It's quick to read but It's not an easy read nor is it hard. Combining math and learning new vocabulary at the same time makes the comprehension of this book a 3/5 for me along with how boring the book is. There's examples of why to use different methods of accounting to help visualize and simplify the teachings but it's still a boring book.
July 23, 2017
It's a great super simple read that I picked up for a coworker that wants to learn accounting and has no experience. I wanted to read it before giving it to her to ensure it wouldn't be completely confusing. For a novice, it's great because each chapter has a brief example of what the accounting procedure would look like in a business setting.
If you're looking to take the CPA exam, this book isn't for you. It's just a VERY broad overview of accounting. Think of this as the cliff notes version of accounting 101 textbooks.
If you're looking to take the CPA exam, this book isn't for you. It's just a VERY broad overview of accounting. Think of this as the cliff notes version of accounting 101 textbooks.
September 21, 2018
Not really your best choice in case you already have previous accounting knowledge. Even knowing that some of the most basic concept would be simplified and compacted to fit in a short quick and easy-to-read version of such a “dry” discipline like accounting is, some ideas where oversimplified to the extreme of having the reader wonder whether the real book title is “Accounting for (hopeless) dummies”.
Recommended for anyone not having read a word in their lives about accounting. For all other readers, keep searching for something with more substance.
Recommended for anyone not having read a word in their lives about accounting. For all other readers, keep searching for something with more substance.
August 7, 2019
An MP Simplistic Approach to Accounting (AMS) (AEI100POL)
MP has presented his approach to simple accounting. In this instance he is absolutely correct. As a programmer who began programming in Fortran and COCOL , which means, if I remember correctly, Common Ordinary Computer Operation Language. I have wasted many hours trying to understand the simplistic vernacular of the Principle of Accounting and being able to form the necessary instructions to establish a computer accounting program. This is an excellent read for the genre.....DEHS
MP has presented his approach to simple accounting. In this instance he is absolutely correct. As a programmer who began programming in Fortran and COCOL , which means, if I remember correctly, Common Ordinary Computer Operation Language. I have wasted many hours trying to understand the simplistic vernacular of the Principle of Accounting and being able to form the necessary instructions to establish a computer accounting program. This is an excellent read for the genre.....DEHS
March 4, 2019
Overview of just basic concepts.
Obviously as the author mentions and given just 100 pages, this book is a simple review of general bookkeeping concepts.
As an accounting beginner, I feel it’s a good purchase because it taught me from the super introductory level, which helps me not to stuck anywhere at all. I recommend this to anyone with zero knowledge and seeking to step up next level without steep learning curve.
Obviously as the author mentions and given just 100 pages, this book is a simple review of general bookkeeping concepts.
As an accounting beginner, I feel it’s a good purchase because it taught me from the super introductory level, which helps me not to stuck anywhere at all. I recommend this to anyone with zero knowledge and seeking to step up next level without steep learning curve.
May 27, 2019
Shortest accounting summary you will ever need.
I come from a finance background and every few months, I try to refresh the accounting concepts to stay on top of the game. This book has delivered just that. It has very beautifully summarized complex accounting concepts in just 100 pages which hardly took few distracted days to complete. Great work by the author and kudos to the smart way of writing.
I come from a finance background and every few months, I try to refresh the accounting concepts to stay on top of the game. This book has delivered just that. It has very beautifully summarized complex accounting concepts in just 100 pages which hardly took few distracted days to complete. Great work by the author and kudos to the smart way of writing.
February 21, 2021
This is a really good book.
Even though I'm studying a career in business and I've seen accountability I want to see what else could be in this book, or anything new whatever. To my concern, I haven't learned anything new but I learn the terminologies in English and see that Mike made an outstanding work condensing and explaining in 100 pages or Less A LOT accountability, of course, this goes much further, but as he says, this is a basic introduction, and he did it very very good job.
Even though I'm studying a career in business and I've seen accountability I want to see what else could be in this book, or anything new whatever. To my concern, I haven't learned anything new but I learn the terminologies in English and see that Mike made an outstanding work condensing and explaining in 100 pages or Less A LOT accountability, of course, this goes much further, but as he says, this is a basic introduction, and he did it very very good job.
August 21, 2022
Accounting Made Simple by Mike Piper is arguably the most simplified and condensed version of basic accounting I've read. If you're a beginner looking to brush up on your accounting, this book explains the fundamental principles in an accessible manner without overloading you with ridiculous information.
For obvious reasons, you cant cover complex concepts or ideas in 100 pages or less, but you can cover most of the basics and this book does a tremendous job in doing that. Highly recommended
For obvious reasons, you cant cover complex concepts or ideas in 100 pages or less, but you can cover most of the basics and this book does a tremendous job in doing that. Highly recommended
October 30, 2022
This is a great book if you want to learn a little a bit about Accounting or about to start your Accounting class, some of the materials were vague cuz they’re 100 pages or less but if you read it a bunch of times and try to take your time to understand the material, you will feel confident before starting your Accounting or building up on other Accounting information you need for your class or personal life.
June 24, 2018
Nice little review on all things accounting.
Great book! I needed a review of some accounting concepts and this book did the trick. The key concepts were explained clearly and succinctly. This book is for someone who wants to review some accounting concepts or for someone who just wants a general introduction.
Great book! I needed a review of some accounting concepts and this book did the trick. The key concepts were explained clearly and succinctly. This book is for someone who wants to review some accounting concepts or for someone who just wants a general introduction.
May 9, 2019
Good book for beginners
It’s a basic book for who just want to learn about accounting generally or have never been studying that topic before. That’s still a good book though. The author has summarized concepts and principles in accounting, and made it easy to understand for readers.
It’s a basic book for who just want to learn about accounting generally or have never been studying that topic before. That’s still a good book though. The author has summarized concepts and principles in accounting, and made it easy to understand for readers.
July 21, 2020
I was primarily interested in this book to learn about the very basics i.e. balance sheet, income statement, cashflow. In addition I learned about liquidity ratios and methods used for larger businesses. Great way to learn the basics, a YouTube video might suffice now adays, unless one wants less screen time.
February 9, 2021
Clear, concise, essential
This is an excellent book for those who want to get a good overview of accounting without getting overwhelmed by technical terms and details. An excellent help so that you can understand what your accountant is telling you. Written in a very pleasant and friendly way, too.
This is an excellent book for those who want to get a good overview of accounting without getting overwhelmed by technical terms and details. An excellent help so that you can understand what your accountant is telling you. Written in a very pleasant and friendly way, too.
July 9, 2021
Basic, normal, interesting and insufficient.
The good thing about this book is that it shows outsiders, how interesting accounting is. Rest the book is too short and too insufficient to know what exactly it is, and how it works.
If you want to read an article about accounting, then this book is the one.
The good thing about this book is that it shows outsiders, how interesting accounting is. Rest the book is too short and too insufficient to know what exactly it is, and how it works.
If you want to read an article about accounting, then this book is the one.
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