Summary of Peter Frampton & Mark Robilliard's The Joy of Accounting
Author | : Everest Media, |
Publisher | : Everest Media LLC |
Total Pages | : 62 |
Release | : 2022-06-11T22:59:00Z |
ISBN-10 | : 9798822530935 |
ISBN-13 | : |
Rating | : 4/5 (35 Downloads) |
Book excerpt: Please note: This is a companion version & not the original book. Sample Book Insights: #1 Every accounting story is told from the point of view of a business entity. The business entity is separate from its owner. The owner and the entity are never the same. #2 The separate entity concept is so important that it has a symbol. The pineapple symbol stands for it, and you should always remember to check your point of view. #3 The purpose of accounting is to provide useful information for decision-making. To do this, the accountant sorts and groups similar assets and debts into groups, and then measures them. Data becomes information as long as you can understand the language. #4 When reading financial statements, you should be asking yourself a variety of questions, such as: What is the company’s growth rate. How much of the company’s assets did it have to consume in order to grow them.