Basic Accounting Video Series

Produced in Australia, this series on the basics of accounting uses a fictional small business (Condel, a small deli/caterer) to explain the principles of "the accounting equation": assets, liabilities, capital, income, expenses, accounts payable and receivable, credit, etc., all leading to the bottom line at the end of the month. We watched the first two titles in the series, "The Nature of Transactions" and "Books of Entry." The first title covers all of the terms mentioned above, while the second demonstrates how financial records are tabulated and maintained. Two problems make this series of no use to public libraries, and of limited use to schools. The first is that, though infrequent, there are differences between the Australian system and our own. When starting up a new business, viewers are advised to check "council rates" (whatever those are), and when receiving goods to also get a "delivery docket" (a.k.a. a "bill of sale" we presume). The second problem is the manual which contains forms to be filled out by the viewer--these are referred to in the second videotape, making the series especially unsuitable for public libraries. Better programs exist which are also more relevant to American business. Not recommended. (See THE FAST FOOD CAPER for availability.)