Introduction
First of all, I have to admit that accounting has an image problem. Be honest: What’s the first thing that pops into your mind when you see the word “accountant”? You probably think of a nerd wearing a green eyeshade who has the personality of an undertaker (no offense meant to undertakers, of course). Well, I’ve never worn a green eyeshade in my life, and I can assure you that I’m not a nerd. I own an iPod, I have a good sense of humor, and in addition to being an accounting professor for more than 40 years, I’ve also held several administrative positions. But to be honest, I was somewhat of a nerd when I decided to go into accounting. (I have pictures to prove it.)
I was a freshman at Iowa State University studying engineering but not liking it too well. On a whim, I dropped into the student counseling office and took some tests. The result was that they told me that I was a reasonably well-adjusted 18-year-old (little did they know), I had an IQ sufficient for what they were about to recommend (but they never told me my IQ), and I should switch to accounting. I was floored. Accounting? Well, I took the counselors’ advice and changed my major to accounting, and I’ve never regretted it.
Explaining accounting for nonaccountants is one of my passions in life, and I’ve written several books on the topic. About a decade ago, I had the opportunity to write Accounting For Dummies (Wiley), which is now in its third edition. One of my other books is How To Read A Financial ...
