Accounting by the Book

This is not a part in which I try to jam the entirety of accounting theory and its practical application into a few chapters. It would be an impossible and, most importantly, unnecessary task. Even the owner of the smallest business needs the support of a knowledgeable accountant, and the readers who have reached the top levels of accounting and finance management wouldn't have been able to do so without knowing their way around their company's books. It therefore makes more sense to concentrate on several important elements that strongly affect the quality of conventional accounting's final products—the financial statements. Yet these items are, according to my observations, frequently overlooked, ignored, or forgotten. Standardized accou....