For an entrepreneur who has no background in accounting, business financial management can be challenging. The good news, now there are many sources for studying accounting, one of them through books. Here are four book recommendations that can help you manage your business finances:
Accounting Made Simple
If you have never studied accounting at all, then the book by Mike Piper is suitable as a preliminary guide. In accordance with the title Accounting Made Simple provides a simple explanation of accounting. The information conveyed by Piper is really simple and is accompanied by relevant examples that are able to decipher concepts without using difficult accounting terms. Basic concepts such as preparing and reading financial statements, accounting equations, and calculating different financial ratios are explained succinctly and clearly by Piper. This book can give beginners an initial overview of the world of accounting before going deeper.
All-in-One Accounting for Dummies
This book is a collaboration of nine authors who are experts in accounting. Accounting All-in One for Dummies presents a variety of basic topics about accounting, ranging from debit and credit, recording accounting transactions, preparing income reports and balance sheets, guidance in making decisions related to finance, to about accounting regulations. Everything is explained in simple and easy to understand language, complete with a few simple examples and scenarios for small businesses. That is why this book is also suitable to be read by professional accountants and accounting majors students as an additional accounting reference.
Accounting Handbook (Baron’s Accounting Handbook)
This is the result of the collaboration of four Certified Public Accountants (CPA, namely Jae K. Shim, Joel G. Siegel, Nick Dauber, and Anique A. Qureshi. This book explains in full the mandatory components that must be met when making financial reports. there is a dictionary from A to Z about accounting terms along with a short definition that is perfect for those of you who are not familiar with accounting.
The Bloomberg website once dubbed this book as The Sherlock Holmes of Accounting. Written by Howars Schilit, Financial Shenanigan discusses a lot of things you should pay attention to detect errors in financial statements. That way, you can prevent business financial losses. Broadly speaking, there are three main topics that you can learn from this book. First, the tricks that are usually used by various companies to overestimate business revenues and profits. Second, techniques that are usually used to manipulate cash flow. Third, about how these companies trick investors about their financial condition. Through these topics, you can have enough knowledge to detect any fraud or discrepancy in your business financial statements.