11 Days to Mastering Small Business Accounting

11 days to mastering small business accountings tells you everything you need to start preparing your own small business accounts. Accounting concepts are simplified in the book for easy understanding and application. A working example is also included to illustrate the different accounting entries. The concepts discussed in the book include: • Accounting principles like historical cost convention, matching principle • Overview of the different kind of legal structures • The accounting equation, the T accounts and the chart of accounts • Managing customers and revenue recognition principles • Understanding fixed assets and deprecation • Snapshot of foreign currency transactions and computing tax expenses • A walk through on the bank reconciliation statement • Prepayments and Accruals • Preparing the balance sheet, income statements and the cash-flow statement • A working example that shows how it is all done.