This book, the revised edition of the first one published in 2011, remains an answer to the need for a customized textbook for basic accounting students; students who need to acquire accounting knowledge but do not have to go through the kind of preparatory training needed by those who will be taking the CPA board exams. This also is a suitable material for those who would like to learn the basic concepts of accounting and bookkeeping. While there is no substitute to classroom instruction, this book can also be used as a personal learning material for those who want to become bookkeepers or those managers who want to learn how to read their financial statements and understand the financial health of their businesses.