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Book Review: The Accounting Game:
Basic Accounting Fresh From The
Lemonade Stand
by Darrell Mullis and Judith Orloff

When life handed these authors lemons, they made a book from them! In so doing Darrell Mullis and Judith Orloff have created an easy to read and simple introduction to practically every accounting concept you will need to run a small business. If accounting terms leave you baffled and you're always putting off the appointment with your accountant, this is the book for you!

Their method is simple: you are a kid with a lemonade stand. You need to handle cash, inventory, assets, liabilities, and so on while you run your business. Through this very simple approach they succeed in teaching some of the most critical accounting concepts. And they make it fun!

I found humor spread througout the book. Whenever people put humor in a book I find the reading much easier. In addition, they often talk about the concepts in a question/answer format that invite you to think along with them before you get the answer. Critical concepts are reinforced naturally as part of the question/answer format.

As an example, in one section are describing the idea of bad debt. "You" (the lemonade stand owner) have allowed a friend to purchase lemonade on credit. The friend suddenly moves away and has eight glasses on account.

Even as you gain control, you still can't believe it! That kid promised to pay you! He gave a pinky swear, which is the highest oath a kid can take! You figured he was good for it. But now he's left town. Oh, well, at least he didn't leave town thirsty--thanks to you. Do we have to recognize the loss? Yes. We had $10 in Accounts Receivable, four of which belonged to that totally rude and worthless weasel cheater and all-around bad kid who you were once foolish enough to trust and call your friend. So, what are we going to do? You list your options: send out the collection agency; hire a hitman; hire a lawyer; tell your parents; get your big brother or sister to beat him up; put a spell on him so he stays short his whole life; e-mail the president to call out the national guard.

Through this enjoyable book they teach the basics of bookkeeping: concepts of profit and income; credit and accounts payable; labor; service businesses; accounting for inventory; capitalization and depreciation; taxes and liquidation, and more.

This rates as $$$$$ in our rating system--a must have for anyone needing a little help in understanding accounting concepts. (Hey, even my computer programmer husband liked it!)

A. Kris Bell

ABC's Rating System: $ - A few useful items; $$ - Some good content; $$$ - Well balanced and worthwhile; $$$$ - Recommend highly; $$$$$ - Excellent! Buy it now

Buy it now!