Accounting Is Not a Foreign Language: Translating the Basics of Accounting, written by Jeanine Pfeiffer, is a great resource for non-accountants who have careers in the accounting profession. Many small business owners have the passion and expertise necessary to run their businesses, but keeping journals and tallying accounts can be mystifying. Pfeiffer guides readers through the fundamentals and complexities of accounting, using clear and straightforward terms to explain what all those numbers actually mean.
"Simply put, this book makes the complex understandable. It's a fact that administrative professionals working in the public accounting profession often struggle to understand the technical aspects of what accountants do for their clients", said Eric Majchrzak, marketing director, Freed Maxick & Battaglia, CPAs. "I recommend [it] to all of the marketing, human resources, technology, and other administrative professionals working in the public accounting world. . . . just imagine what we could accomplish for our firms if we all spoke the same language."
From debits and credits to income statements, Pfeiffer demonstrates just how to make accounting work for you, laying a foundation for future growth and profit. You'll become familiar with the simplicity of Pfeiffer's "LINKS" approach, where each letter represents a part of accounting and is designated as a special or general journal:
Liabilities owed (cash disbursements journal)
Inventory reserved (purchases journal)
Necessary other journal entries (general journal)
Keeping cash receipts recorded (cash receipts journal)
Sales held here (sales journal)
Filled with helpful resources, such as sample journal entries, receipts, and invoices, charts and graphs, and detailed chapter summaries, Pfeiffer's clear and matter-of-fact explanations lift the mystery from small business accounting, revealing a simple step-by-step process to building a better business.
Here's what you'll find in the book's fourteen chapters:
The Basics of Accounting: Interpreting the Language
Building On a Foundation: Defining the Building Blocks of Accounting
The Foundation of Accounting: The Chart of Accounts
The Prep Work: Creating Understandable Financial Information
Journey into Journals: Understanding the Five Journals in Accounting
Your Key to Accounting: Learning the LINKS Approach
Stock Answers: Using the Inventory Cycle in the LINKS Approach
Money Matters: Using the Cash Receipts Cycle in the LINKS Approach
Something Borrowed, Something Owed: Using the Accounts Payable Cycle in the LINKS
The Link Stands Alone, Part 1: Asset Accounts in the General Journal
The Link Stands Alone, Part 2: Liability Accounts in the General Journal
The Link Stands Alone, Part 3: Owners' Equity in the General Journal
Need I Say More: Accounting Beyond the LINKS Approach
Don't Read 'Em and Weep: How to Interpret Your Financial Statements with Ease