Accounting for a better life - John M Passmore

This thought-provoking book is addressed at private individuals as the main end-users, but also at professionals in finance, accountancy, education and citizen's affairs. It is an essential guide to managing home, personal and domestic finances in a simplified and fun way, based on a new focus of so-called, Domestic Well- Being. Relevant terminology and the introduction of new naming conventions ensure that home accounting has never been easier to understand. Finances can be controlled and debt managed, all with a view to maximising lifetime, domestic well-being. When the author started his own domestic accounting, he tried to adapt business accounting methods, using an off-the-shelf package, where his whole focus was on profit, shareholders' value, purchases, sales, expenses, etc. - hardly relevant to the domestic scenario - so, he decided to find new ways to solve the problems he had encountered...With severe personal debt in the UK on the verge of crisis, this new approach, almost in passing, also provides the visibility on the state of a family's finances, required to provide warnings of potential difficulties to avoid the debt trap. This authoritative work is not just another book on accounting.