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Accounting for Kids - Book 1

by Ryan Semerau

Ages 7-12AccountingFinance

The first book in the Accounting for Kids series. Teaches the complete accounting cycle from scratch - transactions, journals, ledgers, debits and credits, and how to build an income statement, balance sheet, and cash flow statement. Real accounting skills in plain language for young readers.

16 chapters · 76 lessons · first 6 free

IntroductionFree

1 · The Foundation

1.1 · What Is AccountingFree
1.2 · Who Needs AccountingFree
1.3 · Accounting vs BookkeepingFree
1.4 · The Language of BusinessFree
Chapter 1 TestFree

2 · Transactions - Where It All Starts

2.1 · What Is a TransactionFree
2.2 · Every Transaction Has Two Sides🔒
2.3 · Source Documents🔒
2.4 · Recording Transactions🔒
Chapter 2 Test🔒

3 · The Accounting Equation

3.1 · Assets: What You Own🔒
3.2 · Liabilities: What You Owe🔒
3.3 · Owner's Equity: What's Left🔒
3.4 · The Equation That Always Balances🔒
Chapter 3 Test🔒

4 · Accounts - Categories for Everything

4.1 · What Is an Account🔒
4.2 · The Five Types of Accounts🔒
4.3 · The Chart of Accounts🔒
4.4 · Naming Accounts Clearly🔒
Chapter 4 Test🔒

5 · Debits and Credits

5.1 · Debits and Credits Are Just Left and Right🔒
5.2 · Which Side Increases Which🔒
5.3 · T-Accounts🔒
5.4 · Debits Always Equal Credits🔒
Chapter 5 Test🔒

6 · The Journal - Recording Transactions

6.1 · What Is a Journal🔒
6.2 · Writing a Journal Entry🔒
6.3 · Simple Entries and Compound Entries🔒
6.4 · Practice: Recording a Day's Transactions🔒
Chapter 6 Test🔒

7 · The Ledger - Organizing by Account

7.1 · What Is a Ledger🔒
7.2 · Posting: Journal to Ledger🔒
7.3 · Account Balances🔒
7.4 · The General Ledger🔒
Chapter 7 Test🔒

8 · The Trial Balance - Checking Your Work

8.1 · What Is a Trial Balance🔒
8.2 · Preparing a Trial Balance🔒
8.3 · What a Trial Balance Catches🔒
8.4 · Finding and Fixing Errors🔒
Chapter 8 Test🔒

9 · Revenue and Expenses

9.1 · Revenue: When You Earn It🔒
9.2 · Expenses: When You Use Them Up🔒
9.3 · Matching: Expenses Follow Revenue🔒
9.4 · Periods: Slicing Time🔒
Chapter 9 Test🔒

10 · The Income Statement

10.1 · What Is an Income Statement🔒
10.2 · Revenue Section🔒
10.3 · Expense Section🔒
10.4 · Net Income: The Bottom Line🔒
Chapter 10 Test🔒

11 · The Balance Sheet

11.1 · What Is a Balance Sheet🔒
11.2 · Assets Section🔒
11.3 · Liabilities and Owner's Equity🔒
11.4 · Reading a Balance Sheet🔒
Chapter 11 Test🔒

12 · The Cash Flow Statement

12.1 · Cash Is Not the Same as Profit🔒
12.2 · What the Cash Flow Statement Shows🔒
12.3 · Three Sections🔒
12.4 · Reading Cash Flow🔒
Chapter 12 Test🔒

13 · Adjusting Entries

13.1 · Why Adjustments🔒
13.2 · Prepaid Expenses🔒
13.3 · Accrued Expenses and Revenue🔒
13.4 · Depreciation🔒
Chapter 13 Test🔒

14 · Closing the Books

14.1 · Temporary and Permanent Accounts🔒
14.2 · Closing Entries🔒
14.3 · The Accounting Cycle🔒
14.4 · Starting Fresh🔒
Chapter 14 Test🔒

15 · Putting It All Together

15.1 · A Full Month at the Snack Shop🔒
15.2 · From Journal to Statements🔒
15.3 · What the Statements Tell You🔒
15.4 · You Are an Accountant🔒
Chapter 15 Test🔒

What you'll learn

✓What accounting is and why every business needs it
✓How to record transactions using journals and ledgers
✓The accounting equation: Assets = Liabilities + Owner's Equity
✓How debits and credits work
✓How to build an income statement from scratch
✓How to build a balance sheet from scratch
✓How to build a cash flow statement from scratch
✓What adjusting entries are and why they matter
✓How to close the books at the end of a period
✓The full accounting cycle from start to finish

How to use this workbook

15 chapters, designed for one chapter per week (4 short lessons per week plus a chapter test). Each lesson takes about 15-20 minutes - read the lesson, talk it over with the AI tutor, then answer a few short questions in your own words.

Prerequisites

None strictly required. Economics for Kids Book 1 (scarcity, choices) and Book 6 (business finance basics) are helpful but not necessary - this book is self-contained.