You don’t need to be an Accountant but you do need to understand at least some of the commonly used Accounting Words in the Financial Statements of Annual Reports:

Understand What Are Accounting Fundamental Errors

Understand What Are Changes In Accounting Policies

Understand The Difference Between Cash Basis Accounting Method […]

Append below are the following major Accounting concepts which the author has provided for in his other accounting blog which hopefully explains the concept in a simple manner for readers to understand:-

Key Accounting Concepts/Convention/Principles
In a business in order to account to shareholders/investors/authorities, the financial statements need to follow a certain fixed period of reporting say […]