accounting is often seen as just crunching numbers and completing tax returns. however, it encompasses much more, including setting up accounting systems, preparing financial statements, analyzing financial data, planning budgets, managing investments and loans, analyzing costs, making purchase decisions, and detecting fraud.

while individuals can get by with minimal bookkeeping, businesses rely on accurate and timely data to operate effectively and make informed decisions. the bookkeeping and accounting system of a business serves as the source of information for financial statements, tax returns, and reports to managers.

therefore, it is crucial for business managers to ensure the system is reliable. accountants "keep the books" by recording financial activities and creating financial statements that are shared with stakeholders.

accounting foundations guide teaches you all the fundamentals you need to get started with basic accounting concepts and topics such as the accounting equation, debits, credits, the chart of accounts, the ledger, inventory measurement, and goes on to instruct in the use and preparation of financial statements (balance sheets, income statements, and statements of cash flows), and much, much more.