These guides will help you balance your books.
We are dedicated to researching, testing, and recommending the best products. We may receive commissions on purchases made after clicking on links in our content. Learn more about our review process. Having the proper accounting records can help ensure that your finances are in order, regardless of whether you're a sole proprietor, a novice bookkeeper, or an experienced CPA. As are sharp accounting skills, financial literacy is essential if you want to succeed in business. Accounting knowledge is essential for everything from tax planning to making sound business decisions based on accurate financial data. With so many accounting books available – many of which are standard textbooks – we selected the best ones that are both practical and readable.Accounting All-in-One for Dummies is the best overall choice.
This is the most comprehensive and user-friendly resource if you're new to accounting or need a refresher course. This book, written in the "Dummies" style, covers the fundamentals of accounting in layman's terms. It's comprehensive while remaining approachable, and it's technically nine "mini-books" in one. Kenneth W. Boyd will teach you everything you need to know about accounting, from setting up your system to working with balance sheets and income statements. There are also more advanced sections on financial business decisions, fraud detection, and other accounting specialties. This book will be useful to both beginners and experts, whether used as a training manual or a handy reference. As an added bonus, you'll have access to online quizzes that correspond to each book section to ensure that your newly acquired knowledge is retained.Accounting for the Numberphobic is ideal for small business owners.
Endless numbers in spreadsheets can be frightening to look at, especially if you have no idea what you're looking at. Dawn Fotopulos' "Accounting for the Numberphobic: A Survival Guide for Small Business Owners" is for people who try to avoid accounting at all costs but still need some working knowledge to get by. It goes over the most important accounting aspects relevant to your business, such as how to read a net income statement, cash flow statement, and balance sheet. More importantly, it assists you in answering critical questions such as how much your business is worth or how much revenue you require to be profitable.Best About Taxes: Tax Savvy for Small Business
Tax accounting is one of the most important aspects of running a business to understand. The author, Frederick W. Daily, brings 35 years of experience as a tax attorney to "Tax Savvy for Small Business." He shares what he knows to be true: that a savvy tax planning strategy can help protect and increase your bottom line. This guide covers all of the essential business tax accounting topics, such as determining if you're eligible for tax credits and how to maximize them, determining which expenses and long-term assets you can deduct, and maintaining clean financial records. And while an audit is the last thing you want, this book will teach you how to deal with one. This new edition also includes all of the most recent tax laws, so you'll always be up to date.Profit First is the best option for entrepreneurs.
"Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine," part accounting book, part business strategy, teaches entrepreneurs how to prioritize profits. Readers will learn how to simplify their bookkeeping and focus on paying themselves first with a different accounting perspective (one that goes against generally accepted accounting principles, or GAAP) and a breakdown of four key accounting principles. The concept is similar to what many financial experts recommend when it comes to saving money: take some money directly from your income rather than taking what is left over. In addition to his unique accounting and budgeting hacks, author Mike Michalowicz's approachable writing style makes this a fun read. Michalowicz, as a serial entrepreneur, also provides numerous case studies to help illustrate his theories in action.Best for Accountants: Accounting Best Practices
Businesses must have the correct data in order to optimize their operations and increase their profits. This comprehensive guide from financial expert Steven Bragg reads almost like a troubleshooting manual for common accounting challenges, offering solutions, tips, and refinements for common accounting challenges. Most of the techniques are advanced and require a working knowledge of accounting, so it's not for beginners. For those who work in the field, "Accounting Best Practices" is a useful tool to have on hand for reducing costs, fostering efficiency, and enhancing accounting accuracy. The sixth edition includes 90 new best practices as well as two additional chapters on credit and collections.The Accounting Game is ideal for beginners.
Although not everyone is an accounting whiz, most people are probably familiar with running a lemonade stand. That's the premise of Darrell Mullis and Judith Orloff's simple but brilliant accounting book, "The Accounting Game: Basic Accounting Fresh from the Lemonade Stand." Using the famous childhood business venture as an example, the authors teach the fundamentals of accounting to anyone who needs a simple but "sticky" explanation. In just 179 pages, it simplifies complex accounting terms and concepts through relatable language and step-by-step illustrations. To help readers master each topic, each section concludes with quizzes and worksheets with sample spreadsheets. Overall, this book is a good buy for accounting students and anyone looking to understand their own finances better.Warren Buffett Accounting Book is the best for investors.
Because Warren Buffett is well-known for his investing abilities, co-authors Stig Brodersen and Preston George Pysh's "Warren Buffett Accounting Book: Reading Financial Statements for Value Investing" focuses on accounting concepts to learn from the successful investor himself. It's the second book in a three-book series that includes strategies for picking winning stocks. Most importantly, the book teaches you how to calculate a company's value using two distinct methods. Aside from that, aspiring investors will discover how to read an income statement, balance sheet, and cash flow statement—all of which are crucial skills to have when choosing which businesses to add to their portfolio.Barron's Accounting Handbook is ideal for intermediates.
Sometimes all you require is a good old-fashioned accounting reference book. The "Barron's Accounting Handbook," written by four accounting experts, does what Barron's books do best: it covers everything financial professionals need to know about financial reporting requirements and compliance. It addresses both US GAAP and IRFS (International Financial Reporting Standards). The book is over 1,000 pages long, including a dictionary of accounting terms, so it's not for the faint of heart. However, it is a worthwhile addition to the bookshelf of advanced accounting students.Accounting Made Simple is ideal for self-employed individuals.
""Accounting Made Simple: Accounting Explained in 100 Pages or Less" is a quick read on DIY accounting that can be finished in an afternoon or two. Mike Piper, the book's author, is a licensed CPA who aims to help solo practitioners learn the ins and outs of accounting. Everything from understanding and creating financial statements to the difference between the cash method and the accrual method is covered in the book. It also covers other important financial concepts such as depreciation, amortization, and more in an easy-to-understand manner. Piper also includes useful examples to help bring these concepts to life.