the accounting game book review

The Accounting Game

Basic Accounting Fresh from the Lemonade Stand

Darrell Mullis and Judith Orloff | 4.40 | 1,118 ratings and reviews

Ranked #2 in Accounting , Ranked #3 in Financial Accounting — see more rankings .

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We've comprehensively compiled reviews of The Accounting Game from the world's leading experts.

Andrew Elliott If you have no understanding of accounting, read a good accounting book. A good example would be The Accounting Game by Darrell Mullis. (Source)

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The Accounting Game is ranked in the following categories:

• #38 in Retail

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Book Review: The Accounting Game

I first encountered “The Accounting Game”, by Darrell Mullis and Judith Orloff about ten years ago when I was a software developer for a firm that sold point-of-sale/inventory/accounting software for tire stores. I don’t even remember who first recommended this book, but soon my manager bought a copy for the development group to use in coming up to speed on accounting principles, terminology, and concepts.

The book teaches accounting from the point of view of a kid opening a lemonade stand for the summer. You start out simply enough, but as the summer progresses you start handling more and more complex situations. All the while you track the stand’s progress through Balance Sheets, Income Statements, and Cash Statements. These statements start out simply and then increase in complexity as new concepts are introduced and as the business becomes more complex.

I found the book quite entertaining and educational the first time through. The concepts stuck with me, and now that I have my own business I bought my own copy of the book to help train my partners and our employees should we need a backup bookkeeper. There is a newer edition out now, with I believe a new chapter on how service businesses differ from businesses that sell goods.

There are a few drawbacks to the book. For one, it gets repetitive. They try to keep it light and cutesy, but by the time they’ve asked you the same question three different ways on the same page you start to get a little annoyed. Yes, repetition is key to learning, but this book sometimes goes too far.

The other problem is that it’s supposed to be hands-on. Every few pages you are supposed to fill out a new copy of the various accounting forms to reflect the new changes to the business. That’s fine if you–and only you–are going through this book for the first time. But once you’ve written in the book no one else can use it, nor can you come back and review. And since the forms morph as the complexity increases, you can’t just photocopy a bunch of blank forms to use throughout the book. What would be ideal is if they included some laminated forms you could use a whiteboard pen on and wipe clean for another time.

But for the most part, this book will leave you with a good idea of the main areas of accounting reporting. You should be able to pick up a company’s balance sheet and make sense of what you see. You should know what the balance sheet does and does not show, and where you need to go to find out the rest of the picture.

I’m pretty sure (and I’m tempted to test this theory) that my ten-year-old daughter could understand this book. The book is fun and engaging, so you don’t like you’re being talked down to too much. The examples are fairly concrete and easy to grasp, tapping into a fairly common experience from childhood. Even if you never sold lemonade as a child, you can understand what is going on.

I recommend this book for anyone who would like to understand accounting from a high level. Most would-be business owners really should understand the principles taught in this book in order to be successful. This book is a fairly enjoyable and inexpensive way to learn those basic accounting principles.

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ⓒ 2024 Foreword Magazine, Inc. All rights reserved.

• Book Reviews
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• Business & Economics

The Accounting Game

Sourcebooks ( November 1998 ) $18.95 ( 192pp ) 978-1-57071-396-5

Accounting can be a very intimidating subject for the mathematically-challenged. The authors of The Accounting Game have chosen a novel approach to this topic, based on The Accounting Game Seminar developed at the Burklyn Business School in the late 1970s.

It’s unlike any accounting textbook on the market today, including the “Dummies” series of instructional materials. It’s written and illustrated in a style that’s meant to appear simplified and non-technical, and it employs a learning methodology similar to that used in grammar schools, which involves the senses and the emotions along with the critical thinking skills of the reader. This method of learning like a child is intended to promote understanding and retention of the material by accessing the part of the brain where long-term memory resides. Readers are stepped through examples such as lemonade stands and neighborhood grocery stores in an amusing style that attempts to turn some typically dry subject matter into an enjoyable read.

This book is ideal for adults or students who want to pick up some basic accounting knowledge without getting too deep into complicated financial statements. The basics of balance sheets, income statements, and cash flows are covered along with all of the fundamental accounting concepts. Simple exercises are sprinkled throughout the book, and the pre-test and post-test questions are a good test of its effectiveness at teaching the subject matter. It’s as easy as 1-2-3.

Reviewed by Cindy Patuszynski January / February 1999

Disclosure: This article is not an endorsement, but a review. The publisher of this book provided free copies of the book to have their book reviewed by a professional reviewer. No fee was paid by the publisher for this review. Foreword Reviews only recommends books that we love. Foreword Magazine, Inc. is disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255.

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The Accounting Game (Book Review)

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Financial Illiteracy , with its kissing-cousin Financial Irresponsibility , is a plague upon our nation. Witness the skyrocketing national debt, encumbering present and future generations with mandatory interest payments while also pillaging from the working poor and middle class by the covert methods of inflation. Observe the confusion at congregational voters meetings as the church budget is adopted. Contemplate the embarrassing load of consumer debt that weighs down the typical household.

How did we get into this mess?

How can we ever get out?

Fortunately, all the Average Joe Americans among us easily can do something to help. The Accounting Game , by Darrel Mullis and Judith Orloff, introduces in a very basic way the profound and powerful analytical tools deployed by expert accountants. The mysteries of double-entry bookkeeping are demystified in a manner appropriate for high school students, or even for the precocious students of the upper-elementary level.

With The Accounting Game , adults are left without excuse. If you can’t distinguish an asset from a liability, if you don’t understand what determines profit or loss, if you think that debt provides a sustainable means for lubricating current cash flow, then you will benefit from this book’s whimsical lessons based on the childhood ambition of running a lemonade stand.

By the end of the book, you’ll abandon the lemonade sales business in favor of a consulting business specializing in coaching others how best to manage the financial operations of their lemonade stands. And that means you’ll at last be qualified to sit ( productively! ) on your church council’s finance committee or to become a truly helpful member on the board of directors for your favorite nonprofit organization. You’ll also be a more responsible head of household and a better parent (why not read this book together with your older children as a summer project?).

I find this book so helpful that I’d even suggest you buy two copies—sending the second one to your congressional representative, before it’s too late.

Curious about the contents? Here’s a sneak preview of p. 62. Keep in mind that the preceding sections built up the reader’s knowledge base one small step at a time, offering practice exercises with an answer key in the back.

Dr. Ryan C. MacPherson is the founding president of Into Your Hands LLC and the author of several books, including Rediscovering the American Republic (2 vols.) and Debating Evolution before Darwinism . He lives with his wife Marie and their homeschooled children in Casper, Wyoming, where he serves as Academic Dean at Luther Classical College . He previously taught American history, history of science, and bioethics at Bethany Lutheran College , 2003–2023 He also serves as President of the Hausvater Project , which mentors Christian parents. For more information, visit www.ryancmacpherson.com .

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The accounting game : basic accounting fresh from the lemonade stand

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Latish sehgal's blog, book notes: the accounting game.

Feb 20 th , 2014

Read On: Feb 19, 2014 Reading Time: 5 hours Rating: 8/10

The Accounting Game presents financial information in a simple format. Using the world of a child’s lemonade stand to teach the basics of managing your finances, this book makes a dry subject fun and understandable. As you run your stand, you’ll begin to understand and apply financial terms and concepts like assets, liabilities, earnings, inventory and notes payable.

• Assets = Liabilities + Owner’s Equity
• Inventory is considered as an asset. It can include raw materials, goods in progress as well as finished goods.
• Gross Profit = Sales - Cost of Goods Sold (COGS). Gross Profit goes under “Earnings Week To Date” under Owner’s Equity.
• Net Profit (Bottom Line/ Net Income/ Earnings) = Gross Profit - Expenses.
• “Expenses” are the costs of doing business other than those related to producing the product. They come out of “Earnings Week to Date”.
• In Liabilities, Notes Payable should be long term and have interest associated with them. Accounts Payable should be short term. Interest expense shows up in the Income Statement as a cost of doing business.
• Accounts Receivables refers to money we are going to get soon. If something goes wrong and we do not receive it, it should be taken out of Earnings.
• An expense is an Asset when we pay it in advance and it has value in future accounting periods (e.g prepaying for insurance).
• Income Statement (Operating Statement/ Profit & Loss Statement) looks at a record of events happening over a period of time. It is a detailed view of the Earnings Week to Date on the Balance Sheet.
• Accrual Method : We account for everything as it accrues/happens (whether or not we paid any cash). Creates an accurate measure of a company’s financial position even though the cash has not been settled. It is more favorable to show this to banks/investors since it has more profit.
• Cash Method : You account for things ony when they happen in cash. Can be benefical since you can defer some tax to next year when you pay it with inflated dollars. A company with inventory can’t use the Cash Method.
• One can do both kinds of accounting (Accrual for investors and Cash for IRS). This is known as Creative Accounting.
• FIFO: First In First Out
• LIFO: Last In First Out. This can result in low net profit on paper if the cost of raw products increases with time. This would allow one to defer some taxes.
• Cash Flow Statement : Only records the movement of cash in a given period.
• Straight Line: Used for buildings.
• Accelerated: Can be used for equipment. Ends up saving current tax dollars in exchange for future tax.
• Cash helps run the business on a daily basis. You cannot spend earnings, you can only spend cash. The earnings are tied up in assets/inventory/equipment. It is very important to keep cash around. Profits are theoretical and do not equal Cash. Profits are a good objective measure of efficiency, productivity and innovation.
• Rather than looking at absolute numbers for different accounting periods, it is better to look at ratios (and do Trend Analysis) and see the cost/profit for each dollar of revenue. Sometimes you can find out your competitors ratios using record of Industry Ratios (Dunn & Bradstreet/ Robert Morris & Associates)

I have minimal knowedge about Accounting. This was a great 101 level book (small size, large fonts, lots of pictures and simple lemonade stand example used throughout) to familiarize myself with the basic vocabulary.

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The Accounting Game

Description.

This colorful text converts a basic study in accounting into a easy, delightful experience. Authors Darrell Mullis and Judith Orloff simplifies the intricacies of small business operations by examining a virtual lemonade stand. The course is designed to create a specific learning experience to overcome many of the standard hesitations and difficulties with learning business fundamentals. Covers concepts such as assets, liabilities, profits, statements, loans, credit, labor, depreciation, and taxes. Answer key. Paperback. 179 p.

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Screen Rant

Them: the scare review - season 2 of prime video’s horror anthology delivers a lot, except the horror.

While THEM: The Scare can be praised for many things, the delivery of the titular “scare” is, unfortunately, not one of them.

• The acting shines, especially Deborah Ayorinde's performance as Dawn, but the season lacks overall engagement.
• Pam Grier is underused, and the visuals impress, but the story drags and lacks a strong central focus.
• Despite high production value, THEM: The Scare fails to deliver on the horror promised, leaving audiences wanting.

THEM , the divisive horror anthology series, has returned to Prime Video for season 2 with a new chapter entitled The Scare . Created by Little Marvin, the series features Deborah Ayorinde, who returns in a new role as Dawn Reeve, an LAPD detective tasked with solving the brutal murders committed by a mysterious and evil presence. While the show boasts several praiseworthy aspects, the story’s overall significance seems to be missing. THEM: The Scare appears to be caught between trying too hard and not trying hard enough, resulting in an experience that is not only lackluster, but not scary.

The new story centers on LAPD Homicide Detective Dawn Reeve, who is assigned to a new case: the gruesome murder of a foster home mother that has left even the most hardened detectives shaken. Navigating a tumultuous time in Los Angeles, with a city on the razor’s edge of chaos, Dawn is determined to stop the killer. But as she draws closer to the truth, something ominous and malevolent grips her and her family…

• The cast's performances uplift season 2's story
• The Scare's visuals really pop
• THEM: The Scare is severely lacking in the horror department
• Pam Grier is underutilized in her role
• The season lacks commitment to the story

Clearly influenced by horror powerhouses such as Jordan Peele and Ryan Murphy's American Horror Story , THEM: The Scare attempts to showcase innovative and artistic horror, but falls short of being as captivating as its inspirations. Although THEM ’s first season had many scary moments , it still lacks the unique qualities and meaningful contributions that would solidify its place in the underappreciated Black horror anthology genre. Despite its efforts to deliver scares, THEM: The Scare ultimately fails to provide the horror it promises, questioning the show's purpose in an increasingly competitive landscape, which has some of the best anthology TV shows .

The Acting & Production Are Masterfully Executed

But they aren’t strong enough to elevate the story as a whole.

THEM: The Scare's acting performances are a major highlight of the eight-episode season. Deborah Ayorinde shines as Dawn Reeves, presenting the traits of a passionate, intelligent LAPD detective with a soul. She is a compassionate woman who clearly cares about her job, a refreshing change from the usual jaded detective tropes often seen in television and film. Luke James, who plays Edmund Gaines, brings an intriguing and earnest intensity to his role, making his character's arc a mystery that’s enough to keep engagement high, albeit sometimes to the point of frustration.

While the season capitalizes on the talents of its cast, there is one notable exception: Pam Grier, who appears as Dawn's mother, Athena. While it's always a delight to see Grier on screen, her character is underutilized, and it's disappointing not to see more of what she could have contributed to the story. Despite this, her presence is enough to add some much appreciated charm to the story.

One of the most important aspects of any horror story is the visuals, and THEM: The Scare excels in this department. The lighting and camera work create several standout moments that resemble the top-notch cinematic visual elements often seen in Hollywood's best horror movies. This is no surprise, as acclaimed horror director Ti West , known for his work on the X Trilogy, returned to lend his expertise to the direction of some episodes, after having directed several episodes in THEM season 1. However, despite these stellar moments of acting and production, they weren't enough to bring the overall season together.

*Availability in US

Not available

THEM: The Scare Moves Too Slowly To Be Terrifying

The underlying point of the narrative isn’t strong enough to hold the tension.

Despite its concise episodic format, THEM: The Scare is unnecessarily drawn out, struggling to connect its various narrative threads in a timely manner. While the visuals, nostalgic 1991 setting, and acting performances provide a level of entertainment, the central point of the story remains elusive for far too long. As the season progresses, it’s easy to question the purpose of the narrative. Unfortunately, the promising recipe that is THEM: The Scare seems to be missing a crucial ingredient — the titular "scare . " The overall story simply doesn't match the other commendable aspects of the show, leaving tension unsupported and expectations unfulfilled.

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The Accounting Game: Basic Accounting Fresh from the Lemonade Stand Hardcover – January 1, 2022

• Print length 300 pages
• Language English
• Publisher Efinito
• Publication date January 1, 2022
• See all details

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Product details

• ASIN ‏ : ‎ B0C3CMT157
• Publisher ‏ : ‎ Efinito (January 1, 2022)
• Language ‏ : ‎ English
• Hardcover ‏ : ‎ 300 pages

About the authors

Darrell mullis.

The fact is that Darrell Mullis has never taken any official courses in finance. He is a business person and entrepreneur, which makes him uniquely qualified to teach and write about finance in simple terms for non-financial professionals. Darrell is the owner of Stratactics, in Boulder, Colorado and has spent the last 20 + years teaching financial training seminars all over the world. His objective is to take the mystery out of this sometimes daunting subject and help people make better financial decisions at their company.

Judith Handler Orloff

For the past 25 years, Judith Orloff has been helping people transform their lives through self-awareness and education. Among her most significant accomplishments is the founding of the Burlington College in Vermont, where she also created a B.A. program in Transpersonal Psychology. In addition, Orloff is the founder of Educational Discoveries, Inc.

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