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 And Accrual Method
Know the difference between Capital And Revenue-expenditure
Understand The Difference Between Fair Value Versus Historical Cost
Understand The Difference Between Principle Based Versus Rule Based-Accounting Standards
Understand The Different Between Profit Versus Cash Concept
Understand What Is Free Cash Flow
Understand What is Overtrading- Its definition-Causes Consequences And Remedy
FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four, Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.
Also author to another very popular free educational accounting cum finance blog: http://basiccollegeaccounting.com under the branding of College Accounting Coach.
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