Elements of Practical Accounting

This accounting text book came about after the realization of a gap that exists between accounting theory and the accounting environment in practice. It is a product of the author¿s 25 years of experience in the field of accounting supported by notable academic and professional achievements. The text book attempts to close the gap by preparing students for real work situations and availing financial literacy for entrepreneurs. The practical aspect of accounting is the main focus. The book is designed for those who have interest in pursuing a career in accountancy or entrepreneurship. The course focuses on the basics and how they are applied in real life business situations. It starts by introducing students to the business world, moves on the basic aspects of the subject and cautiously progresses on to financial reporting. Application of accounting principles to various business entities including not for profit organizations. The book winds up by explaining the accounting environment and the impact of technology on the subject. Finally, it takes a lighter look at one other branch of accounting namelyTaxation.