This e-book is a guide and reference resource for students of accounting (and its subsidiary, bookkeeping). In simple language, it explains the basic accounting concepts and why they are important in the process and application of accounting/bookkeeping.

Basically, the mechanics of accounting is little more than adding and subtracting figures, and sometimes applying a percentage. So, it is not usually the maths of accounting that students find difficult to grasp. Rather, it is the WHY of accounting.

This book compiles answers provided by Peter Baskerville to questions about the WHY of basic accounting. It is designed as a learning resource that users can ‘dip in and out of’ as they seek answers to specific questions, rather than as a book to be read sequentially from cover to cover. As a result, there is some necessary repetition to ensure answers to all questions are contained and comprehensive.

Peter has taught bookkeeping and accounting for many years at a technical college, and has first-hand experience in helping students to understand basic accounting concepts.

Peter explains the background and first principles that underpin each concept. The answers are grouped and ordered according to the standard learning process in accounting, but their focus is on the WHY: why accounting and bookkeeping operate as they do.