Accounting and Finance for Your Small Business

I liked this book. But I didn't think it was a page-turner. It was full of great content, and covers accounting and finance topics related to the starting and operating of small businesses. It is comprised of 9 chapters, and is split into the following three parts: 1. Preparing to operate the business 2. Operating the business 3. Evaluating the operations of the business Early in the book it is stated that the book was written for business owners and managers who want to REFINE the accounting and financial operations of their companies. The keyword in the last sentence is "refine." The reader is assumed to be somewhat competent with regard to accounting and finance for a small business, and by reading this book they are supposed to be able to refine their existing accounting and finance functions. If this assumption is accurate, then this book will prove to be well worth its purchase price. If this assumption is inaccurate, then the book will not be well received. I found the book rather dry. It tended to jump right in and make its points in each chapter rather than easing the reader into what the subject matter was and then providing comments, solutions or whatever regarding that subject matter. I recently read a book called The It Factor (ISBN: 0814474373) which stresses the importance of communicators to make a connection with their audience in order to effectively communicate with them. I think the authors of this book could improve their writing style if they were to incorporate the message of The It Factor into how they write. Earlier this morning I read a book titled Financial Intelligence (ISBN: 9781591397649) which discusses the basics of accounting and finance to help small business owners or managers "manage by the numbers." I think the instant book being reviewed would be a wonderful follow-on book to Financial Intelligence. And anybody who is not well versed with accounting and finance would do themselves a great service by reading both books. Accounting and finance are jargon-filled subjects. The terminology used in both is uncommon and pretentious to many people. Authors that write in these subjects should be cognizant of this fact and pay special attention to writing so they connect with their readers. This book in many ways is fairly well written. But in my humble opinion it could have been a lot better if the authors had worked harder at connecting with the reader. 4 stars!

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.