Accounting Made Simple by Mike Piper Summary
Demystify financial statements in just 97 pages with CPA Mike Piper's acclaimed guide - recommended by "Personal MBA" author Josh Kaufman. Discover why Wall Street Journal-featured experts trust this concise manual to reveal the real story behind any business's financial health.
About the author
Mike Piper, CPA and bestselling author of Accounting Made Simple: Accounting Explained in 100 Pages or Less, is a trusted voice in personal finance and investor education.
A certified public accountant with a background in tax advisory and financial planning, Piper specializes in distilling complex topics like accounting, Social Security strategies, and retirement planning into accessible guides. His blog, Oblivious Investor, and widely used tool Open Social Security have cemented his reputation for clarity and practicality.
Piper has authored multiple finance books, including Taxes Made Simple and Investing Made Simple, and his insights have been featured in The Wall Street Journal, Forbes, and Money Magazine.
A former financial advisor, he advocates for low-cost, diversified investing and tax-efficient strategies. His work is frequently recommended by financial professionals, and his tools have guided millions in optimizing retirement decisions.
FAQs About This Book
Accounting Made Simple is a concise 100-page guide that breaks down core accounting principles like the accounting equation, balance sheets, income statements, and cash flow statements. It also explains financial ratios, GAAP standards, double-entry bookkeeping, and practical topics like depreciation and inventory management, all in plain language without jargon.
This book is ideal for small business owners, entrepreneurs, students, or professionals needing a quick refresher. Its straightforward approach helps anyone grasp financial reporting basics, making it valuable for non-accountants managing budgets or interpreting financial documents.
Yes—it’s praised for distilling complex topics into digestible lessons with real-world examples. Readers gain practical skills like preparing financial statements or calculating liquidity ratios, making it a time-efficient resource for foundational accounting knowledge.
Mike Piper is a CPA (licensed in Colorado) and bestselling author of personal finance guides like Investing Made Simple and Social Security Made Simple. He runs the Oblivious Investor blog and is known for simplifying technical subjects into accessible content.
The book addresses assets vs. liabilities, equity calculations, operating vs. net income, and double-entry bookkeeping. It also clarifies GAAP principles, cash vs. accrual accounting methods, and how to interpret ratios like the current ratio or return on equity.
Piper simplifies ratios like the current ratio (liquidity) and profit margin (profitability) by linking them to real financial statements. Examples show how to calculate and apply these metrics to assess a company’s financial health.
Cash accounting records transactions when money changes hands, while accrual accounting recognizes revenue/expenses when earned/incurred. Piper highlights how each method impacts financial reporting and tax obligations, helping readers choose the right approach for their needs.
The book translates GAAP’s technical rules into plain English, using examples to explain concepts like revenue recognition, matching principles, and consistency standards. This demystifies how businesses maintain compliant financial records.
Yes—it provides step-by-step guidance on creating journal entries using the double-entry system. Piper clarifies how debits and credits affect different accounts, offering practical exercises to reinforce understanding.
It explains inventory valuation methods (e.g., FIFO vs. LIFO) and their impact on COGS calculations. Piper also shows how these figures influence gross profit and balance sheet reporting.
While praised for clarity, some advanced readers may find its 100-page format too brief for complex topics like tax strategies or advanced financial analysis. It’s best suited for foundational learning rather than in-depth study.
Unlike dense textbooks, Piper’s guide prioritizes brevity and accessibility, avoiding excessive detail. It’s ideal for quick learning but pairs well with practice-heavy resources for hands-on application.
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"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
12117"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
12108"Reading used to feel like a chore. Now it’s just part of my lifestyle."
25417"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
964.5K"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
20116"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
37483"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
12117"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
12108"Reading used to feel like a chore. Now it’s just part of my lifestyle."
25417"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
964.5K"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
20116"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
37483"Makes me feel smarter every time before going to work"
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