Accounting Basics: A Survival Guide for Students
Edition: 4
Copyright: 2026
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The study of accounting is cumulative. If accounting students do not master basic journal entry preparation from the beginning of their coursework, they are often overwhelmed for the entire semester.
In Accounting Basics: A Survival Guide for Students, basic accounting concepts are explained step-by-step, with a focus on accounting for an entrepreneur in a sole proprietorship. In the final unit, a comprehensive problem is presented in order to illustrate the accounting process.
Preface
Topic 1 Categories and Accounts
1. Assets
2. Liabilities
3. Equity
4. Revenues
5. Expenses
End of Topic Check List
Topic 2 Did it Increase or Decrease?
End of Topic Check List
Topic 3 Debits and Credits: The Language of Accounting
What is a debit and what is a credit?
End of Topic Check List
Topic 4 Comprehensive Problem (From Soup to Nuts): From Transactions to Financial Statements
Background to the Comprehensive Problem
COMPREHENSIVE PROBLEM
Two Adjusting Entries for Revenues
Two Adjusting Entries for Expenses
The Income Statement
The Statement of Owner’s Equity
The Balance Sheet
Topic 5 The Comprehensive Problem Revisited
Work Sheet
Topic 6 The Corporate Form of Entity — Comprehensive Problem
Accounting Across Business Entities: The Role of Equity Accounts
Comprehensive Corporate Accounting Problem
The Work Sheet
The Work Sheet
About the Author
Tracey J. Niemotko, attorney-at-law, certified public accountant and certified fraud examiner is an accounting professor at Marist College in Poughkeepsie, New York. She earned her Bachelor of Science degree in accounting from Fordham University and her Juris Doctor degree from Fordham University School of Law.
Professor Niemotko was recently appointed to the Editorial Review Board of The CPA Journal – a New York State Society of Certified Public Accountants (NYSSCPA) publication. She currently serves as member of the Governing Council of the American Institute of Certified Public Accountants (AICPA) and was recently recognized by Accounting Today as being among the Top 100 Most Influential People in Accounting.
After teaching accounting for many years and observing the same obstacles each semester, Professor Niemotko has written Accounting Basics: A Survival Guide for Students to assist those struggling to learn accounting.