Mastering Financial Accounting Essentials is a text for people who need to use accounting information in their everyday jobs. They need to be able to understand the language and the law in order to talk to accountants and clients in an intellectual manner. Part One of the book uses an extended scenario to present the basics of financial accounting. McCrary creates a new business from scratch. By the end of the scenario (and the end of Part 1), readers will have reinvented double-entry book keeping. Along the way, readers can delve as deeply as they wish to learn more about inventory valuation.