Boost Your Skills in Accounting and Bookkeeping

LEARN ACCOUNTING & BOOKKEEPING THE RIGHT WAY – FAST, EASY, AND PRACTICAL

Join the thousands of students and educators who have trusted Labyrinth Learning’s proven training system for over 30 years

• Step-by-step, comprehensive training designed for beginners and small business owners – No prior accounting experience necessary!
• Exclusive online resource center with videos, quizzes, presentations, and more to deepen your learning and keep you engaged.
• Master the essentials – From the accounting cycle to debits, credits, and financial statements, you'll gain practical skills you can use immediately.
• Set yourself apart and get certified – This book fully prepares you for the Intuit Certified Bookkeeping Professional exam, making you more attractive to employers.
• Learn for the long-term – While most books focus on short-term learning, our system uses real-world exercises, full-scale projects, and multiple practice sets designed to reinforce your knowledge and help you confidently apply your skills in any setting.

Written by an award-winning teacher, MBA, and CPA with 20+ years experience
Eric Weinstein MBA, CPA is a Professor of Business Administration at Suffolk County and author of several in-demand accounting textbooks. Eric has received many awards in his career in education, including the State University of New York Chancellor's Award for Excellence in Teaching. He's also been a practicing CPA in New York for more than 20 years.

Backed by decades of learning science
For more than 30 years, Labyrinth Learning has been a leader in preparing classroom students for the workplace. With the Boost Your Skills series, Labyrinth brings all of its experience from the classroom to the living rooms of learners across the globe. Boost Your Skills in Accounting & Bookkeeping is an easy-to-use guide that takes learners step-by-step through the skills they'll need in the workplace and beyond.

List of topics covered
Evaluating Transactions
The Accounting Cycle
Journal Entries and T-Accounts
Adjusting Entries
Financial Statements and Closing Entries
Computerized Systems, Cash, and Payroll
Financial Statement Analysis
Merchandise Inventory

By the end of Chapter 1 you will be able to:
Describe the accounting equation
Differentiate between account types
Evaluate a transaction
Convey transaction details

By the end of Chapter 2 you will be able to:
Explain the concept of posting journal entries
Identify the purpose of a trial balance
Distinguish between adjusting entries and closing entries
Discuss the four primary financial statements

By the end of Chapter 3 you will be able to:
Distinguish between debits and credits
Work with T-accounts
Journalize a transaction
Post a transaction
Use a special journal and a subsidiary ledger

By the end of Chapter 4 you will be able to:
Format and complete a trial balance
Record adjusting entries
Calculate depreciation using the straight-line method
Calculate depreciation using the double-declining balance method

By the end of Chapter 5 you will be able to:
Prepare an income statement
Prepare a statement of owner’s equity
Prepare a balance sheet
Identify the sections of a statement of cash flows
Record closing entries

By the end of Chapter 6 you will be able to:
Describe appropriate internal control procedures
Prepare a bank reconciliation
Calculate employer and employee payroll taxes
Record journal entries for payroll
Describe a computerized accounting system

By the end of Chapter 7 you will be able to:
Complete a horizontal analysis
Complete a vertical analysis
Prepare common-size financial statements
Calculate various financial ratios

About the Author