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Accounting for Small Business Owners
All the financial accounting a small business will ever need
Owning and running a small business can be complicated. On top of developing, marketing and selling your product or service, you've got to be prepared to handle the money thats coming in, pay your employees, track expenditures, consider your stock options, and much more.
Accounting for Small Business Owners covers the entire process of establishing solid accounting for your business and common financial scenarios, and will show you how
Set up and run your business Manage and sell your product or service Perform a month-end balancing of accounts Packed with definitions of basic accounting terms, sample accounting statements, and a wealth of tips and tricks to simplify the accounting process, Accounting for Small Business Owners has everything you need to get the job done!
Owning and running a small business can be complicated. On top of developing, marketing and selling your product or service, you've got to be prepared to handle the money thats coming in, pay your employees, track expenditures, consider your stock options, and much more.
Accounting for Small Business Owners covers the entire process of establishing solid accounting for your business and common financial scenarios, and will show you how
Set up and run your business Manage and sell your product or service Perform a month-end balancing of accounts Packed with definitions of basic accounting terms, sample accounting statements, and a wealth of tips and tricks to simplify the accounting process, Accounting for Small Business Owners has everything you need to get the job done!
170 pages, Kindle Edition
First published April 10, 2015
188 people are currently reading
200 people want to read
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Displaying 1 - 17 of 17 reviews
May 18, 2021
Game of Thrones it ain't, but as "intro books on small business accounting" go, it earns 4 stars.
It is exactly what it says: A basics primer of bookkeeping (i.e. simplified accounting) for small business owners or operators. Let's be clear about what it is and is not:
It's a PRIMER. It lays out the basics of bookkeeping: terminology, principles and practices for a small business. It's not a CPA textbook. It does a good job of clearly & methodically laying out the necessary basics of knowledge and actions for clear, complete and responsible bookkeeping for small businesses.
In doing so it also provides a safe litmus test for the user/owner: If the scope of your operations is pretty well covered by this book, keep on with business as usual. If you find yourself asking more and more questions beyond this book's purview, then it's probably time to actually hire a professional bookkeeper.
I use this book a lot in my consulting practice as an easy starting reference for my small business clients to help them see & understand a simple and manageable rubric for bookkeeping basics, including and especially the importance of correctly categorizing income and expenses.
As accounting books go, it's a Good Read.
It is exactly what it says: A basics primer of bookkeeping (i.e. simplified accounting) for small business owners or operators. Let's be clear about what it is and is not:
It's a PRIMER. It lays out the basics of bookkeeping: terminology, principles and practices for a small business. It's not a CPA textbook. It does a good job of clearly & methodically laying out the necessary basics of knowledge and actions for clear, complete and responsible bookkeeping for small businesses.
In doing so it also provides a safe litmus test for the user/owner: If the scope of your operations is pretty well covered by this book, keep on with business as usual. If you find yourself asking more and more questions beyond this book's purview, then it's probably time to actually hire a professional bookkeeper.
I use this book a lot in my consulting practice as an easy starting reference for my small business clients to help them see & understand a simple and manageable rubric for bookkeeping basics, including and especially the importance of correctly categorizing income and expenses.
As accounting books go, it's a Good Read.
March 1, 2019
A basic primer on accounting statements and principles for a small business owner. The book shows examples of statements of fictional businesses and various types of transactions that can occur and how they would be entered. This is all good stuff to know for any business owner so when they talk to their bookkeeper or accountant they have familiarity with accounting statements and language so they can review the statements and discuss them. It is very important to watch your books. The most likely person to steal significant amounts of money from you is the person who keeps your books.
February 2, 2018
This book covers some accounting basics in a clear and straightforward way. It classifies businesses into three types, service, manufacturing, and wholesale/retail.
Unfortunately, our household businesses don't fit that model, being more along the lines of entertainment and intellectual property, so a lot of the big questions I had remain unanswered.
It's worth a skim, but I'm glad I got it out of the library instead of buying it.
Unfortunately, our household businesses don't fit that model, being more along the lines of entertainment and intellectual property, so a lot of the big questions I had remain unanswered.
It's worth a skim, but I'm glad I got it out of the library instead of buying it.
July 16, 2020
First half useful, second half rushed
I got a lot of great info out of the first half of the book. But the second half felt rushed. Terminology wasn't as well explained and I was lost and confused. Not a bad book. Just not as simplified as I needed.
I got a lot of great info out of the first half of the book. But the second half felt rushed. Terminology wasn't as well explained and I was lost and confused. Not a bad book. Just not as simplified as I needed.
February 3, 2024
Very informative
This book was very informative and detailed all while not being complex. The writer broke down every term and showed the practical application of all the topics and formulas
This book was very informative and detailed all while not being complex. The writer broke down every term and showed the practical application of all the topics and formulas
December 31, 2017
This is not my natural habitat. I appreciate the simple explanations, but I think I still need to sit down with a professional.
February 16, 2018
This was legitimately helpful and understandable to me. This book really breaks down every step of the accounting process for small business owners, providing illustrations for every single step.
October 22, 2020
Helpful
This book was helpful in simplifying basic business set up for accounting purposes. Easy to understand and easy to put into real life use.
This book was helpful in simplifying basic business set up for accounting purposes. Easy to understand and easy to put into real life use.
June 3, 2021
Little disappointed with the book. Some concepts are good but unable to put the right perspective for beginners.
Also, the book is written for the US market.
Also, the book is written for the US market.
June 25, 2021
Very basic accounting summary. No really insightful information.
August 5, 2023
Good overview / big picture book, and clearly presented, but - except for the most simple of businesses - I would treat this as a jumping-off point to more detailed volumes.
September 6, 2017
Awful! I have a business background, but am working on a small business now, so wanted a quick refresher. This is NOT the answer.
First, when you create a book that is supposed to be teaching a subject (in this case accounting) you need to actually proofread your math. There were multiple examples in this book where the numbers were incorrect. I don't know if the authors had calculation errors, or typos. Whatever the reason, the result was incorrect numbers in what is basically a math book.
Second, in an effort to simply some concepts, the authors oversimplified to the point of not being accurate. Example: comparing income statements for three locations, each location had a different revenue. The authors asserted that the location with the largest revenue must be the largest physically. ????? Anyone who has visited a retail location in NYC can tell you that revenue is NOT directly proportional to floor space. This is just one example of teaching people to draw conclusions that are not based on fact. And that is a TERRIBLY dangerous pattern when it comes to creating and using financial statements.
Finally, some of the most basic principles were glossed over. Double-entry was a side note (hello, that is the basis for accounting). Revenue and Expense accounts were mentioned, but never fully explained when in comes to the Accounting Equation or double-entry. If I hadn't had accounting in my past, I would have been completely lost.
To summarize, this book was not at all helpful. Don't waste your time or money. Pick up a real accounting book, or go hit the "dummies" section of the book store instead.
First, when you create a book that is supposed to be teaching a subject (in this case accounting) you need to actually proofread your math. There were multiple examples in this book where the numbers were incorrect. I don't know if the authors had calculation errors, or typos. Whatever the reason, the result was incorrect numbers in what is basically a math book.
Second, in an effort to simply some concepts, the authors oversimplified to the point of not being accurate. Example: comparing income statements for three locations, each location had a different revenue. The authors asserted that the location with the largest revenue must be the largest physically. ????? Anyone who has visited a retail location in NYC can tell you that revenue is NOT directly proportional to floor space. This is just one example of teaching people to draw conclusions that are not based on fact. And that is a TERRIBLY dangerous pattern when it comes to creating and using financial statements.
Finally, some of the most basic principles were glossed over. Double-entry was a side note (hello, that is the basis for accounting). Revenue and Expense accounts were mentioned, but never fully explained when in comes to the Accounting Equation or double-entry. If I hadn't had accounting in my past, I would have been completely lost.
To summarize, this book was not at all helpful. Don't waste your time or money. Pick up a real accounting book, or go hit the "dummies" section of the book store instead.
April 27, 2015
Running a successful business
I found this book very interesting, and very useful. If you are starting a small business, this book is a great resource. It starts by explaining to you in simple terms what accounting is, and defines accounting terms. Then it tells you what an accountant does for a small business. It explains the types of businesses there are and their financial requirements. It goes on to give you an in depth explanation of balance sheets, income statements, statements of cash flows, and examples to show you how they work. The book explains how to keep your books, set up payroll, and order equipment. There's a detailed explanation of employee benefits, borrowing, the costs of running a business, inventory, managing payroll and much much more. This book really gives an in depth look at everything you need to run a business.
I found this book very interesting, and very useful. If you are starting a small business, this book is a great resource. It starts by explaining to you in simple terms what accounting is, and defines accounting terms. Then it tells you what an accountant does for a small business. It explains the types of businesses there are and their financial requirements. It goes on to give you an in depth explanation of balance sheets, income statements, statements of cash flows, and examples to show you how they work. The book explains how to keep your books, set up payroll, and order equipment. There's a detailed explanation of employee benefits, borrowing, the costs of running a business, inventory, managing payroll and much much more. This book really gives an in depth look at everything you need to run a business.
June 27, 2015
Good basic book
I liked this book. If you've had accounting classes, some of this should be a review for you. They say you should be able to set up your own small business accounting books after reading this. I believe you could. I wish I had seen this book a long time ago because there are something's I had to learn on my own with no help. This would have been helpful then. I think it would be a good book to keep as reference too. I got this book for free.
I liked this book. If you've had accounting classes, some of this should be a review for you. They say you should be able to set up your own small business accounting books after reading this. I believe you could. I wish I had seen this book a long time ago because there are something's I had to learn on my own with no help. This would have been helpful then. I think it would be a good book to keep as reference too. I got this book for free.
August 26, 2015
Always love "learning by doing" books. Describing accounting even better than our book in high school years ago. Using layman language, it's even easier to digest than investopedia.com
I'm just a bit concerned that they don't try to even out debit/credit sides in balance sheets chapter 4. If the account receivables of $10,000 only costed $7,000 in inventory they should put $3,000 right away in retained earnings (table 23). But they don't, and even so throughout the chapter.
I'm just a bit concerned that they don't try to even out debit/credit sides in balance sheets chapter 4. If the account receivables of $10,000 only costed $7,000 in inventory they should put $3,000 right away in retained earnings (table 23). But they don't, and even so throughout the chapter.
October 20, 2015
Great quick info
This books covers everything you need to know for a small business. Great read! I definitely recommend it to anybody trying to start a business.
This books covers everything you need to know for a small business. Great read! I definitely recommend it to anybody trying to start a business.
March 18, 2019
A decent explanation of business accounting. Too much of it was still over my head. I was expecting more "how to".
Displaying 1 - 17 of 17 reviews