Basic Accounting and Accounting Systems

Abstract

The problem with accounting and finance is that it is full of mumbo-jumbo. Really many of the ideas and notions are quite simple and straightforward. However, over the years accountants have managed to shroud their profession in the blanketing fog of technical jargon. As soon as the accountant starts talking this foreign language, eyes cloud over, minds turn off and the financial information he is talking about manages to retain that somewhat mystical and unreal quality of a DHSS handbook. Unfortunately for the businessman a lack of understanding of basic accounting and finance is a sure recipe for bankruptcy. Balance-sheets and income statements can become fascinating reading if they relate to your money and your business.