Basic Accounting Concepts, Principles and Procedures, Vol. 1

New edition available in September 2017. First edition is out print.

Basic Accounting Concepts, Principles, and Procedures Volumes 1 and 2 together provide the student and self-study user the most complete introduction to basic accounting available, at a price that ensures outstanding value. Together, both volumes and included disks provide a package that contains all the individual resources that are typically required of a student in a first-course accounting class, plus extra content that serves both as enrichment and as a practical resource.

The two volumes together include:

* Academic-quality texts with comprehensive content explained in an easy-to-understand, step-by step style

* Templates that provide a printable unlimited supply of accounting paper including worksheets, general journal, special journals, and ledger accounts

* Practice sets for both merchandising and service businesses

* End of chapter reviews with hundreds of review questions and reinforcement problems

* Detailed solutions to questions, problems, and practice sets

* Cumulative practice tests with solutions and review guidance

* Internet exercises to guide the reader in building an Accounting Resources folder.

Supplmental Content: Special tips and practical help, such as a checklist for accounting software, what to do when you cannot balance the checkbook (bank reconciliation) and accounting ethics guidelines; comprehensive basic math review, beginning at the most elementary level and continuing through decimals, percentages, signed numbers, order of operations, fractions, and basic algebra, all with problems and solutions; alternative recording techniques and error correction methods.

Volume 1 begins by introducing the reader to essential business concepts and business types. This is followed by an overview of the accounting process and in-depth training in transaction analysis. This approach makes it much easier for the reader to understand the procedures in a basic accounting system, particularly the use of debits and credits, than with traditional texts. After this preparation, the text explains the essential elements and procedures of a basic accounting system: chart of accounts, debits/credits, journal, ledger and ledger accounts, posting process, trial balance, and preparation of financial statements from trial balance.

The final section of the book provides a comprehensive introduction to corporate accounting. This includes an explanation of the corporate entity, corporate stock transactions, stockholder equity changes, and corporate financial statements.