Accounting is widely known as the "language of business." However, learning this language involves more than memorizing technical terms and rules for recording transactions. The primary language of this field is English—the language in which the world's most authoritative accounting resources, including the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP), are written.

For undergraduate accounting students, the ability to engage with global accounting knowledge depends largely on mastering the specialized English of the discipline. This book is neither a pure language textbook nor a pure accounting textbook. Rather, it serves as a bridge between the two—a bridge that will guide you from the classroom to reading real-world financial statements and analyzing them with confidence.

Throughout this book, you will encounter fundamental accounting concepts, the accounting equation, the accounting cycle, primary financial statements, asset valuation methods, liabilities, equity, and much more. Each chapter is carefully structured to present core accounting knowledge in simple yet accurate English. Vocabulary tables, exercises, and practical examples have been designed to reinforce both your accounting understanding and your English proficiency.

We hope that by the end of this course, you will not only understand the language of business but will also be able to speak it, write it, and—most importantly—use it to make informed decision

Lesson One: The Nature and Purpose of Accounting/13
Lesson Two: The Accounting Equation and Double-Entry System  / 23
Lesson Three: The Accounting Cycle  /  33
Lesson Four: Financial Statements – Balance Sheet /45
Lesson Five: Financial Statements – Income Statement and Cash Flow Statement /  57
Lesson Six: Revenue, Expenses, and Accrual Accounting  / 69
Lesson Seven: Assets, Liabilities, and Equity  /   81
Lesson Eight: Inventory Valuation and Cost of Goods Sold /95
Lesson Nine: Depreciation, Amortization, and Intangible Assets   /183
Lesson Ten: Financial Statement Analysis and Ratios /185