Includes bibliography.

Unit 1. Accounting in action: an introduction -- Unit 2. Competitive career opportunities in accounting: types of business and branches of accounting -- Unit 3. Accounting and you: users of accounting information -- Unit 4. Who needs framework? basic accounting concepts -- Unit 5. Assets, liabilities, and capital... what are these? measuring and reporting financial position -- Unit 6. Is the business doing well? measuring and reporting financial performance and changes in owner's equity -- Unit 7. Why is cash important: measuring and reporting cash flows -- Unit 8. Let us go into details: general journal, general ledger, trial balance -- Unit 9. Proper valuation of accounts: adjusting the books -- Unit 10. Reaching the finish line - are we done yet? completing the accounting cycle -- Unit 11. Ready-to-wear items for sale: introduction to merchandising business -- Bibliography.