This self-teaching book explains the accounting equation, describes financial statements, and guides students through the process of recording business transactions, maintaining special journals, and accounting for receivables and payables, inventories, payroll, tangible and intangible assets, and more. The book concludes with a series of exercises and their solutions. Barronas continues its ongoing project of updating, improving, and giving handsome new designs to its popular list of Easy Way titles, now re-named Barronas E-Z Series. The new cover designs reflect the booksa brand-new page layouts, which feature extensive two-color treatment, a fresh, modern typeface, and more graphic material than ever. Charts, graphs, diagrams, instructive line illustrations, and where appropriate, amusing cartoons help to make learning E-Z. Barronas E-Z books are self-teaching manuals focused to improve studentsa grades across a wide array of academic and practical subjects. For most subjects, the skill level ranges between senior high school and college-101 standards. In addition to their self-teaching value, these books are also widely used as textbooks or textbook supplements in classroom settings. E-Z books review their subjects in detail, using both short quizzes and longer tests to help students gauge their learning progress. All exercises and tests come with answers. Subject heads and key phrases are set in a second color as an easy reference aid.