Recognition of Basic Accounting Concepts, Principles, and Procedures

Awards (category)
USA Book News (Education and Business Reference), Axiom Business Book Awards (Accounting & Taxes), Benjamin Franklin Book Awards (Professional Reference), Hoffer Independent Book Awards (Business)

Reviews
"...written in a simple clear manner for both slow and fast learners to follow. A step-by-step building-block is used where one topic fluently builds to the next to ensure an incremental learning approach." — Issues in Accounting Education: American Accounting Association

"...economical and understandable...clear explanations and comprehensive content" "Recommended" — Choice Reviews : the academic division of the American Library Association

"Comprehensive, graphically pleasing, and expertly constructed. The author explains all concepts in detail, uses a simple, informal style, and enhances the text with many images...the book succeeds almost to the extent of replacing the need for a live instructor."
— Kirkus Reviews

Volume 2, like volume 1, is a complete self-study text that provides problems, self-tests, solutions, and unlimited accounting paper for all problems and practice sets in the book. Volume 2 emphasizes the completion of the accounting cycle and the application of GAAP (Generally Accepted Accounting Principles) to key accounts. The completion of the accounting cycle is presented for both service and merchandising companies. The reader here has the ability to select among full treatments of frequently used different merchandising procedures (periodic, perpetual, and different worksheet methods), an option not usually available in most introductory accounting books.
Following the completion of merchandising operations, the focus shifts to principles and procedures as they apply to key account types (cash, receivables, merchandise inventory, fixed assets, and current liabilities) and the internal control procedures relating to each. Payroll procedures and payroll recording keeping are included.

The book concludes its introduction to basic accounting with a comprehensive discussion of the statement of cash flows, long-term liabilities, and cash budgeting.

The disk with the book contains complete solutions to exercises and problems plus accounting paper templates for an unlimited supply of all types of accounting paper, including general journals, cash receipts journals, cash payments journals, sales journals, purchases journals, combination journals, ledger accounts, worksheets, and various multi-column accounting paper.