- Paperback: 179 pages
- Publisher: Sourcebooks; Revised edition (March 1, 2008)
- Language: English
- ISBN-10: 1402211864
- ISBN-13: 978-1402211867
- Product Dimensions: 0.5 x 8.2 x 10.5 inches
- Shipping Weight: 1.4 pounds (View shipping rates and policies)
- Average Customer Review: 4.5 out of 5 stars See all reviews (262 customer reviews)
- Amazon Best Sellers Rank: #16,119 in Books (See Top 100 in Books)
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The Accounting Game: Basic Accounting Fresh from the Lemonade Stand Revised Edition
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About the Author
For the past 25 years, Judith Orloff has been helping people transform their lives through self-awareness and education. Among her most significant accomplishments is the founding of the Burlington College in Vermont, where she also created a B.A. program in Transpersonal Psychology. In addition, Orloff is the founder of Educational Discoveries, Inc.
Darrell Mullis served as the Director of Training and Development at Educational Discoveries for over twelve years where he taught EDI's learning technology and developed a training program for its trainers. Mullis has also taught over 300 of the phenomenally successful Accounting Game seminars to thousands of Americans. Mullis lives with his four daughters in Louisville, Colorado.
Excerpt. © Reprinted by permission. All rights reserved.
from the Introduction
The Accounting Game is written in a way that creates a specific learning experience for you as it teaches you the basic skills of accounting. We call the learning method accelerative learning. What do you think that means? It is a learning methodology that uses all of your senses as well as your emotions and your critical thinking skills. If you can remember your kindergarten or elementary school classrooms, you will see many colored maps, letters and numbers, bold (even raw) drawings by each child, etc. You learned the alphabet by singing. You learned the multiplication tables by saying them out loud with each other. You laughed a lot. You were creative.
Then, how you were taught began to change when you entered middle school or high school. Learning became more lecture, more black and white, more rote. You studied before tests and probably did well or maybe not. Yet, for all the endless homework and "cramming," most of the information you learned in high school you don't remember now. That's because it went into your short-term memory so that you could pass the tests and move on to the next grade.
Yet, look at all the things you remember from early childhood! While in elementary school, much of the information you learned went directly to your long-term memory, because it was peppered with music, color, movement, smells, emotional experiences and lots of play and fun.
The methodology we use in this book in many ways parallels how you learned in grade school. We do this by accessing the part of your brain where long-term memory lives. Now, the way to reach your long-term memory has to include emotion, because they reside in the same place in your brain--the limbic region.
The truth is, because of the way we humans learn, we have to discover something ourselves to really learn it. This book, based on Educational Discoveries' flagship seminar, is designed so you make dozens of discoveries. In short, you will learn a college semester's worth of accounting in the time it takes you to interact with this book.
This is quite a reversal, because business people and students have over the years found the subject of accounting quite difficult to master. Many have simply given up in frustration, others have decided to leave accounting to the "experts." This book is for all of you who have hated accounting, had difficulty learning it or ever thought you didn't really "get it."
We think that most attempts to teach accounting fail because of too much attention to details and a failure to present the big picture framework of how it all works and fits together. In this book, we promise not to overburden you with details and to focus on what are really the key concepts of accounting that any businessperson needs to know.
You will learn the structure and purpose of the three primary financial statements--the balance sheet, the income statement and the cash flow statement. You will learn how these fit together and their interrelationships. You will also learn the basic language of business--concepts like cost of goods sold, expenses, bad debts, accrual vs. cash methods of accounting, FIFO and LIFO, capitalizing vs. expensing, depreciation and the difference between cash and profit.
Our promise is that you will get all this information in a fun and easy way that allows you to participate, interact and discover all that you need to know. Many people need to have understanding and confidence in working with financial concepts, but are not ever going to be doing accounting details. If that is you, then this book fits that need, too. It is set up so that you can actually do financial statements as you are learning them. We invite you to "play the game" as you interact with this book.
Understanding all this information is nice, but what do you do with it? The final chapter will give you some tools for analyzing financial information and making better decisions for your company and your career.
--This text refers to an out of print or unavailable edition of this title.
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Top Customer Reviews
This book is a brilliant analysis of the original small business --a lemonade stand. This business starts off simple and progresses into a more and more complex financial entity over the course of several weeks. While it is so well explained that even the average teen could undertsand it, this book is a serious learning tool for anyone and does not in any way take on a condescending tone. The authors have fun, but offer meaty information. Ever wonder what the difference and advantages are between the accural and cash methods or why the statement of cashflows is so important or how depreciation effects the bottom line or how the decision to use LIFO or FIFO effects the income statement? All those answers and many more are nicely illustrated in this wonderful book.
I have been a certified public accountant for almost 25 years and I have personally benefited from the review of accounting concepts presented in this book.
It walks you through complex accounting, using the simplicity of a lemonade stand. I’ve been an entrepreneur for 10 years and don’t see it lacking anything, as its critics suggest. Sure, you can supplement it with something that has more complex examples, but, the necessitaties are all there.
A few other things:
Visual aid, - I swear, if it’s one type of book that needs visual aid, its business books, particularly accounting. YET MOST DON’T HAVE IT. This one does.
Active learning, - you really are guided by the editorial to keep your own books. I’m talking line by line instructions that a kid can grasp one what it is and what to put down.
Storification, - Storifying something like accounting is BRILLIANT and often difficult. Lines like, “Mom and Dad want to give you a lesson about running a business and without warning, decide to charge you a GLASS RENTAL FEE of two dollars!!!! Talk about tough love! Worse yet, the next day, your best friend (or the kid you thought was your best friend) announces that he or she wants to be paid one dollar for a sign he or she painted for the lemonade stand. Stop and figure out your expenses.”
Puts you in the middle of a business movie, and keeps you on the edge of your seat, paying attention and exercising your fiscal intelligence.
Need I say more?
Most Recent Customer Reviews
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