Accounting Made Easy

Accounting Made Easy introduces first-year students to the fundamental concepts and principles of financial accounting, which form the basis for the preparation and presentation of financial statements. Its purpose is to lay a solid foundation for students who will go on to complete other accounting modules, as well as to provide them with the knowledge to perform basic accounting functions. The title begins by introducing students to the various forms of business ownership, and proceeds by discussing the elements of financial statements, the accounting equation, the accounting cycle (from source documents to financial statements), and how financial statements are analysed to make informed economic decisions. It concludes by looking at the theory of Value Added Tax (VAT) calculations, as well as VAT returns.