Accounting and Finance for Your Small Business

Rating:
Summary: The Small Business "Stuff You Need To Know" Book
Review: Here is a "must read" for anyone owning or starting a small business. This is not a "Small Business for Dummies" book, and not a business school MBA text. This book is "Just Right", filled with proven techniques and sound strategies to guide you through the complex maze of critical accounting and financial issues.

These are things you must know or at least understand, for your business to survive and prosper. For example; CASH FLOW: probably the most important concept for the small business owner to understand. You have to plan for growth or it will kill you. TAX LIABILITIES: taxing authorities can be brutal. Be Prepared! INSURANCE REQUIREMENTS: what you need to know and some helpful tips. BUDGETING: It's not that hard. REPORTING REQUIREMENTS: Plan for it and it's easy. RISK MANAGEMENT, COST-VOLUME-PROFIT-RELATIONSHIP, STAFFING and INVENTORY LEVELS, CAPITAL ACQUISITIONS, FINANCING SOURCES, PERFORMANCE TRACKING. These are all covered in sufficient detail to understand and put into practice.

As a past owner of a small businesses, I was unprepared for the level of sophistication required to run a small business. This book is be an invaluable reference to have available, if you own a business or are thinking about starting one from scratch. The key to business health is "no surprises".

There are also many ready-to-use forms, checklists, sample spreadsheets and calculations showing practical applications of real-world examples. These are not the dreaded debit/credit type stuff in accounting texts. These are easy to understand examples. After all, that's the whole point of the process. Enough information to manage your growing business.

Even if you are turning over these functions to your staff, you should understand what's going on, what's coming up and how to prepare for the future. Highly recommended, 5 stars for this book.

Rating:
Summary: The Small Business "Stuff You Need To Know" Book
Review: Here is a "must read" for anyone owning or starting a small business. This is not a "Small Business for Dummies" book, and not a business school MBA text. This book is "Just Right", filled with proven techniques and sound strategies to guide you through the complex maze of critical accounting and financial issues.

These are things you must know or at least understand, for your business to survive and prosper. For example; CASH FLOW: probably the most important concept for the small business owner to understand. You have to plan for growth or it will kill you. TAX LIABILITIES: taxing authorities can be brutal. Be Prepared! INSURANCE REQUIREMENTS: what you need to know and some helpful tips. BUDGETING: It's not that hard. REPORTING REQUIREMENTS: Plan for it and it's easy. RISK MANAGEMENT, COST-VOLUME-PROFIT-RELATIONSHIP, STAFFING and INVENTORY LEVELS, CAPITAL ACQUISITIONS, FINANCING SOURCES, PERFORMANCE TRACKING. These are all covered in sufficient detail to understand and put into practice.

As a past owner of a small businesses, I was unprepared for the level of sophistication required to run a small business. This book is be an invaluable reference to have available, if you own a business or are thinking about starting one from scratch. The key to business health is "no surprises".

There are also many ready-to-use forms, checklists, sample spreadsheets and calculations showing practical applications of real-world examples. These are not the dreaded debit/credit type stuff in accounting texts. These are easy to understand examples. After all, that's the whole point of the process. Enough information to manage your growing business.

Even if you are turning over these functions to your staff, you should understand what's going on, what's coming up and how to prepare for the future. Highly recommended, 5 stars for this book.