July 13, 2020

7 Best Accounting Books for Beginners

Best Accounting Books for Beginners

We feel proud to see you here looking for the best Accounting books for beginners will take accountability for a company’s finances in the near future. Students who study accounting are the future business leader in fact. The role of Accounting will likely always be in demand. The U.S. Bureau of Labor Statistics projects that the accountant and auditor job market will grow by 10 percent by the end of 2026. You are now in the right place in both cases for studying accounting and collecting the best accounting books. 

Best Accounting Books for Beginners Review

Book Name & Author Image Rating Price
Accounting Made Simple: Accounting Explained in 100 Pages

by Mike Piper

4.4 See Amazon
Schaum’s Outline of Principles of Accounting

by Joel J. Lerner & James A. Cashin

4.6 See Amazon
The Accounting Game: Basic Accounting Fresh from the Lemonade Stand

by Darrell Mullis & Judith Orloff

4.6 See Amazon
Accounting QuickStart Guide: The Simplified Beginner’s Guide

by Josh Bauerle CPA

4.2 See Amazon

Warren Buffett Accounting Book: Reading Financial Statements for Value Investing

4.7 See Amazon

An Introduction to Accountancy

4.2 See Amazon

Fundamental Accounting Principles

by John Wild & Ken Shaw

4.0 See Amazon

1. Accounting Made Simple: Accounting Explained in 100 Pages

Really this book made Accounting simple that addresses the basic concepts in Plain-English with no technical terms. The book has two main sections, part one introduces the Financial Statements that cover the basic Accounting Equation, for example, Assets, Liabilities, Owner’s Equity. It defines “Retained Earnings” and describes the major three types of financial statements that a company needs to produce such Balance Sheet, Income Statement, and Cash Flow Statement. Most essentially, the book teaches you how to use these statements to calculate a company’s liquidity, profitability, leverage, and inventory turnover.

Part Two focuses on “General Accepted Accounting Principles (GAAP)” is where you will understand why all public companies have to use the same accounting principles; the ideas of debit and credit, the difference between “Cash Accounting” and “Accrual Accounting”; how companies balance their books at the end of each accounting session, Depreciation and Amortization; the process how companies keep track of their Inventory and how they calculate the “Cost of Goods Sold.”

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2. Schaum’s Outline of Principles of Accounting

A must-have and one of the best Accounting books for beginners is Schaum’s Outline of Principles of Accounting that make clear of basic Accounting concepts and provides extra practice on topics, for example, Debits, Credits, the Chart of Accounts, the Ledger, Inventory Measurement, Net Realizable Value, Recovery of bad Debts, and Methods for accounting interest. In addition, the book covers Fixed Assets, Depreciation and Scrap Value, Methods of Depreciation, Payroll, and Payroll Taxes.

Very easy to understand Schaum’s Outline of Principles of Accounting is the best Accounting study guide. There is a basic discussion in each chapter followed by numerous examples that help the student practice ideas outlined in that chapter. In fact, the textbook covers Accounting 101 completely.

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3. The Accounting Game: Basic Accounting Fresh from the Lemonade Stand

The Accounting Game simplifies the world of Accounting. This book is essential for students, business managers, owners, or aspiring entrepreneurs to understand how to manage account balances? How do increase profits? The Accounting Game makes complex financial accounting ideas as simple and fun as running a lemonade stand.

This book makes a dry subject enjoyable and understandable that will make you able to understand and apply financial terms and concepts like assets, liabilities, earnings, inventory, and notes payable.

The Accounting Game uses the accelerated learning method. You can use your knowledge, passion and critical thinking skills to quickly lean towards new tasks without feeling like you are in a boring classroom. You will get in this book:

👉 An easy to understand explanations of basic concepts.

👉 Quizzes and worksheets to keep records of progress.

👉 Step by step processes for managing a business.

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4. Accounting QuickStart Guide: The Simplified Beginner’s Guide

You can utilize the Accounting QuickStart Guide to supplement existing material for high school, undergraduate, or graduate courses. This is one of the best Accounting books for beginners to learn the fundamental principles of both financial and managerial accounting in an engaging and educating format. The book is the potential to understand accurately core accounting concepts such as the fundamental accounting equation, financial statements, managerial accounting, and more through practical, real-world examples. Accounting QuickStart Guide exclusively covers:

👉 The Logic and Methods of Classic Double-Entry Accounting.

👉 Business Entity Types; Pros, Cons, and Financial Statements.

👉 The Principles of Financial Accounting, Managerial Accounting, and Tax Accounting.

👉 GAAP Standards and Why They Matter to Accountants.

👉 How to Fraud-Proof Business using simple Accounting Tactics.

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5. Warren Buffett Accounting Book: Reading Financial Statements for Value Investing

Warren Buffett Accounting Book is a step-by-step guide of Warren Buffett’s value investing style. It starts from conducting your own financial statement analysis that uses stock screener to select potentially undervalued stocks and ending with calculating their intrinsic value. It’s a clear and concise overview of the value investing methodology.

This book gives a great overview of the stock market and a great deep overview of financial statements. If you have a background in finance and are hooked on your accounting skills and every line of the income statement, balance sheet, and cash flow statement you need it.

The book teaches you the following things:

👉 Two methods for calculating the intrinsic value of a company.

👉 What is a Discount Rate and how does it work.

👉 How to read an Income Statement, Balance Sheet, and Cash Flow Statement.

👉 How to calculate important ratios to properly value any business.

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6. An Introduction to Accountancy

The popular and well-known An Introduction to Accountancy textbook offers students with knowledge of basic accounting principles and practices in a systematic manner. Simplicity is a unique feature that has made this book popular among students. It enables students to understand the subject and solve practical problems with ease.

This book is highly effective because of the updated text, plentiful illustrative examples, and the end-of-chapter exercises with answers. The book comes with the latest questions and problems from examinations conducted by different professional bodies and universities. It is essential for students who study BCom, BBA, MCom, MCA.

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7. Fundamental Accounting Principles

To succeed in introductory Accounting, Fundamental Accounting Principles is definitely the best Accounting books for beginners. The book is crucial for its step-by-step approach, FAP streamlines complex accounting processes and helps students build confidence by mastering key concepts and procedures.

Using the early dynamic entrepreneurs of the chapter, the vignettes appeal to all students and show the relevance of accounting. Students are encouraged to think like entrepreneurs and apply what they have learned. Different assignments provide instructors with materials to teach, evaluate, and challenge students at different levels.

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7 Best Book for Financial Accounting Reviews

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