I feel like I've finished my overdue homework by publishing the revised edition of "Office Workers, Do Accounting."
We've gathered insights directly from our lectures with tens of thousands of professionals, reflected feedback from readers, and updated the book with the latest corporate case studies, financial statements, and figures.
In particular, in Part 4, Practical Accounting, the content has been strengthened to enable reading and analyzing financial statements in a more three-dimensional manner.
Part 5, "Accounting Study Methods That Lead to Your Success," introduces various methods and websites for studying accounting, and includes a detailed step-by-step plan for financial management in "If You Want to Invest, Do Accounting," as well as helpful books.
As a result, the revised edition is 100 pages longer than the previous one.
I'm confident that with the 100 more pages, you'll be able to study accounting 100 times more easily and enjoyably.
I wrote this revised edition with the hope that everyone can talk about accounting, use accounting easily, and see the world through accounting.
Accounting is more than just the language of business; it's a life skill that's essential for living.
To help those who are new to accounting find it fun, I will also enjoy accounting today.

--- p.5

Why study accounting? The answer is simple.
“To survive.”
The ways for office workers to survive are promotion, job change, financial investment, and starting a business.
Accounting is the ticket that opens all these paths.
When I tell my friends at work that they need to know accounting, they don't even pretend to listen and say, "I'm not even in the accounting department, so why should I study accounting?"
That's right.
Because I work in the public relations department and I never have to prepare financial statements.
But think again.
How do you handle expenses like office supplies, company dinners, and transportation used by your department? Typically, companies use a voucher with attached receipts—a document listing the account and amount and supporting documentation for each transaction type to record and manage it.
(Requires approval from the manager) or write an expenditure resolution, get approval from the team leader, and submit it to the accounting department or accounting staff.
In the past, each department had a designated person to write the vouchers, but now, thanks to well-established systems, anyone in a large company can enter vouchers.
In other words, everyone should and is doing accounting work.
Moreover, as you rise to the position of team leader or department head, your sense of responsibility for accounting work increases.
The team leader is the manager of the team.
When approving a voucher, the team leader must always check whether the expense is related to the company, whether it is within the team budget, and whether the account title is correct.
This is because cost processing is not only related to team performance, but also reflected in the company's overall costs.

--- p.22~23

People who go on blind dates and people who are in a relationship each get different information about the other person.
Accounting is the same.
Accounting varies depending on who uses the accounting information.
There is a company called A.
Job seekers interested in joining this company might wonder, "How much will the salary be?", "Are the profits continuing?", and "What are the company benefits like?"
Investors interested in investing in this company will likely want to know different things, such as, "What is the operating profit margin?" and "Does it have many quality assets?" Banks considering lending to the company will likely want to know, "Is the cash flow healthy?"
The information they want to obtain is ‘financial accounting.’
Meanwhile, the National Tax Service uses accounting information to collect taxes based on how much our company earned and how much it spent.
The accounting information used at this time is ‘tax accounting.’
People who use financial accounting and tax accounting information are called, in difficult terms, 'external users of information.'
These are the people who ask the matchmaker questions they want to know before going on a blind date.
They have the limitation that they can only obtain superficial information.
Financial accounting and tax accounting provide information about a company through financial statements.
Because financial accounting calculates how much money was earned and spent based on corporate accounting standards, and tax accounting calculates how much money was earned and spent based on tax laws, their numbers are not the same.
So, we adjust the differences, and in accounting terms, this is called 'tax adjustment--- p. The process of calculating taxable income according to the provisions of tax laws from the net income of the financial statements.'
Because external users access the information, strong rules exist to protect them.
Financial accounting has rules such as the Commercial Act, Capital Market Act, and External Audit Act, and tax accounting has rules such as the Tax Act.
Let's go back to the love story.
When a relationship develops between a person met on a blind date, the couple shares information that only they know.
This is 'management accounting'.
People who use this information are called 'inside users of information'.
Because the information is used by internal users, there are no strong rules like those in financial accounting and tax accounting.

--- p.74~76

The accounting team is very sensitive to documentation.
This is because documentation serves to prove a transaction and is also closely related to taxes.
If the documentation is not recognized in accounting or there is no documentation at all, the company will have to pay more taxes.
Even if you work hard to increase sales, if you don't have proper documentation, you may end up having to pay out all of your money in taxes.
The best way to pay less tax is to obtain documentation that is recognized by accounting, that is, qualified documentation, and to process accounting accurately.
Here, ‘qualified’ means the exact same qualification as when we say, “That actor is perfect for the role of a second-generation chaebol!”
Let's think of a receipt that corresponds to 'qualified evidence' as a movie title.
When it comes to movies, it's a whole new world! The "shin" in credit card sales slips, the "se" in tax invoices, the "gye" in invoices, and the "ji" in cash receipts used as proof of expenses.
Let's learn about qualified documentation by looking at each actual item.

--- p.87~88

When preparing financial statements, there are two things companies must keep in mind.
First, it must be prepared in a format prescribed by accounting standards so that anyone who wants to know the company information can view it.
Although we do a monthly accounting of how much money we earned and how much we spent, we prepare financial statements on an annual basis.
Listed companies disclose financial statements four times a year, every quarter.
Second, financial statements must be prepared on the assumption that the company is a going concern.
The going concern assumption is that 'our company will survive in the future.'
That is, it is assumed that the company will not fail unless it intends to liquidate or cease its business operations or is unable to continue.
No one can really know whether a company will survive 10 or 20 years from now.
So, we make assumptions and prepare financial statements.

--- p.136

The site you must frequently visit to learn accounting language is the Financial Supervisory Service's Electronic Disclosure System.
It is commonly called DART.
The Electronic Disclosure System was created to provide information on all companies subject to disclosure obligations to investors who cannot meet with management or directly participate in management.
As it is a legally mandated system to protect investors, it is managed by the Financial Supervisory Service, a government agency.
You can access the Electronic Disclosure System by typing 'Electronic Disclosure System' in the search bar of the portal site or entering dart.fss.or.kr in the address bar.
You can view accounting information of all companies representing Korea here.
It's also available as a mobile application, and best of all, all the information is free.
The Financial Supervisory Service's electronic disclosure system is an inexhaustible source of accounting information.

--- p.151~152

Is our company's financial health really okay? Anyone can have their blood pressure measured at the hospital.
A healthy person's heart rate is steady and their blood pressure levels are normal.
Just as a heart must beat steadily, the most important thing in a financial statement is 'stability'.
Just because a company has a lot of assets that can make money doesn't necessarily mean it's a stable company.
A company can be considered stable only if it has sufficient funds to operate and, above all, is able to repay its debts.

--- p.240

When asked, “Why do you work?” most people answer, “To make a living.”
You have to work to get a salary, and with that salary you can buy the things you need to live.
This obsession with just eating and living is called 'eating and livingism'.
The income statement shows in detail the company's 'making a living'.
Let's look at the company's living standards formula and profit and loss statement formula.
Revenue? - Cost? = Profit
If you subtract the expenses (money spent to earn money) from the revenue (money earned), you get the profit (money left over).
Isn't it simple? The income statement shows how much a company earned, how much it spent to earn that money, and how much it has left over.
And the profits go into the capital's retained earnings.
The income statement can be viewed as a statement that explains the increases and decreases in a company's capital.

--- p.253~254