Accounting for Non-Accountants

This book was perfect for learning the basics of accounting without being overwhelming. Having no business background, I found the book easy to follow and very informational. The book explains the different accounting financial statements and how they can be used to make sound business decisions. I like the way Dr. Label explains by progression using the same business example throughout the book, adding new accounting transactions and concepts at each new chapter.

This book explained several key concepts that helped me to understand what accounting is really all about. It allowed me to actively participate in conversations that I could not previously because I did not know the lingo. It is a great book if you want to know the basics.

In brief, Dr. Label's 10 Minute Guide... is a godsend for those of us who are 'MBA challenged'. Written in simple, easy to understand language, the book opens up the world of accounting to those who have no formal training in business. The Ten Minute Guide... serves as a useful guide and reference for those who want to keep their own books, or to better understand the finances of another business. Dr. Label skillfully introduces the four key areas of accounting- GAAP rules, the balance sheet, the income statement, and the cash flow statement. For each area, he painstakingly defines the components that go into each area and the relationships between the individual components in an area as well as the relationships between different areas. He broadens his explanation of each area by introducing simple to follow examples of their use throughout the text. Although most of the book's emphasis is on the accounting required by sole proprietorships or partnerships, Dr. Label does extend the concepts to the stock corporation, and devotes two chapters to the analysis of a corporation's financial statements.In addition, Dr. Label takes the reader through audits and auditors, the basics of keeping a general journal, the use of various financial statements for short and long term analysis, and the use of budgeting in business. Finally, one chapter covers some basic information on the internet and accounting (a subject that is a book unto itself), and Dr. Label thoughtfully provides a comprehensive and understandable glossary of key terms for quick reference.Although the book is small, it is packed with a lot of useful information which is presented in a clear and succinct manner. It serves as an excellent springboard into the world of accounting, and provides a firm basis for understanding financial data and making good judgements based on such data. After reading this book, one can safely and confidently converse with an accountant and walk away with one's wallet full of cash still in one's pocket. Imagine that!

I bought this book after I discovered my lack of knowledge in accountancy. The great thing about this book is that it can be used for short time usage. One question, a quick search inside the book and there it is, explained in a short and understandable manner. Well done, Dr. Label, the book let me become a fan for the 10 minute book series. I also found more information on this book on the Internet. Check out: http://prime-fe1.lvcablemodem.com/accounting

I have been involved in a small family business for twenty years. My background is engineering. When I was at the university I never felt a need to study or understand business let alone accounting. During the last 10 years in my families business I have continued to take over more and more of the management of the company. As I have done this I have had to understand more and more about accounting in order to deal with my bankers, my financial advisors and my CPA. For years I have been struggling with this topic. A friend of mine gave me a copy of The 10-Minute Guide to Accounting for Non-accountants, and it was like a new world had opened up for me. The book was written in a manner that was so easy to use and understand in my daily life, that by the time I finished reading it (and I couldn't put it down-an accounting book?), I felt so much more confident in dealing with my financial people. Good job! I have now bought the book for ten of my friends.