Accounting Principles: The Ultimate Guide to Basic Accounting Principles, GAAP, Accrual Accounting

Book Preface

Accounting is a major aspect in everything we do. It does not matter if you are balancing your personal finances or if you own your own business, the principles of accounting are something you must know and remember.
Much of what we do today is automated or done by computers. However, that does not mean you should forget about the accounting principles. What do the accounting principles include? How deep do they go? These are excellent questions.
In this book, we will take an in-depth look at the Generally Accepted Accounting Principles (GAAP). However, I am not going to stop there. What are some things you should consider before we dive into the unknown? Of course, we will start with the basics. It will be when we examine the basics, that we really begin to understand the principles.

Once you start to understand the basics, we will move into different types of accounting methods such as accrual accounting. It is also important to know and understand the heart of accounting. That brings us to the accounting cycle and the familiar accounting equation.
Like in everything we do, there are two sides to every coin. That is even more true in accounting as we discuss the double entry bookkeeping that has swept the world. While on this adventure it feels only right to include a section for analyzing the financial statements.
If you want to succeed in life with your personal and business finances, you must have a budget. A budget brings great responsibility and must be used properly to work and bring you closer to your goals.

With all this information and knowledge, it is also important to safeguard yourself against fraud and outside threats. Take control internally. Granted, with all these principles it is important to bring balance to the force with the balanced scorecard.
Keep in mind; I have given you a small look at what to expect as you join me through this swamp of information. However, just like in the jungles of Africa, there are surprises everywhere. I only gave a glance of what to expect; however, you should look for the additional information that has been added along the way.
You can never have too much information or knowledge however, it is possible to not have enough. I live by one rule on this highway of life, “Knowledge Is Power.”
Come with me and learn the accounting principles.