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Best Accounting Books For Small Business

small business accounting books

The concept is similar to what money experts often recommend when it comes to saving money—take some money directly from your income, instead of taking from what is leftover. In addition to his unique accounting and budgeting hacks, author Mike Michalowicz’s down-to-earth language makes this a great read. As a serial entrepreneur, Michalowicz also shares lots of case studies to help illustrate his theories in practice. Try The Accounting Game by Darrell Mullis and Judith Orloff, which explains the concepts in straightforward terms using an interesting story format. If you’re not a trained accountant, accounting for your small business may seem intimidating.

  • This book is perfect for busy entrepreneurs who need straightforward, easy-to-implement financial strategies.
  • There are hundreds of accounting books out there—and they range from financial accounting books, management accounting books, accounting principles books, and more.
  • Having fun with your business’ financials and considering going right into the accounting field?
  • Through exploring income statements, balance sheets, and cash flow statements, readers will learn how to analyze and interpret financial data to identify valuable investment opportunities just like Buffett.
  • The book lays out the process of establishing an LLC, explaining the legalities, operation dynamics, taxation nuances, and benefits of this business structure.

More importantly, it helps you answer those key questions like what your business is worth or how much revenue you need to be profitable. “Profit First” is not an accounting book in the strictest sense, but it tackles the challenges of cash management beautifully. Your accounting process will stay the same as it always has, but if you employ the “Profit First” method in your business, you will make your paycheck and your profit a priority rather than an afterthought. Part of a larger series called Financial Topics in 100 Pages or Less, this book gives a solid overview of accounting basics from generally accepted accounting principles (GAAP) to reading financial statements. If you run a sole proprietorship or some other type of small business, this book may contain all you need to know about bookkeeping and financial reporting. In business accounting, the term asset describes a company resource that generates income or value for the business.

Which Best Accounting Books for Small Business Owners Do You Recommend?

Investing the money in purchasing a few—or all—of these accounting books for small business and the time in reading them might be the activity with the highest ROI in your business this year. Although one of the more technical financial accounting books on this list, “Finance for Nonfinancial Managers” is still jargon-free and very accessible for business owners looking to brush up on their accounting principles. Any number of books on the market today can acquaint small business owners with the rudiments of accounting, including the two books listed above. However, the Accounting QuickStart Guide stands out for its encouraging tone, clarity, and completeness (all within 213 pages), making it a solid choice for busy business owners with a lot of other things on their minds.

CEO Jared Feldman on Moving Your Business Forward in a Tighter Credit Market

A lot of small business owners have a great passion for their products, but nearly zero background in accounting or bookkeeping. For anyone struggling with financial statements, this book turns seemingly intimidating accounting concepts into comprehensible knowledge. It’s a practical tool for small business owners aiming to get a handle on their company’s financial reports without getting bogged down in accounting technicalities. Plus, the book offers valuable advice for setting up your accounting system wisely. It covers everything from financial statements to cash management to prepare you for organised finances. The immediate benefit of reading any one of these accounting books will be a greater understanding of the financial state of your business.

  • “Accounting Basics” is like a workbook for those looking to learn more about accounting.
  • Additional “books” cover common business analysis tools, including ratio analysis, economic value added analysis, and cost-volume-profit analysis.
  • With a unique, visual approach, Ittelson explains how each financial interaction affects the three key financial statements of a business.
  • As a small business owner, having a solid grasp of accounting principles is vital.
  • It covers the most important aspects of accounting that relate to your business including how to understand a net income statement, cash flow statement, and balance sheet.

We’ve grouped them by category to make it easier to find a book (or books) that will meet your particular needs and rated one best overall for the breadth of information and advice that it offers. Kenneth W. Boyd is a former CPA with over twenty years of accounting experience. Engage further with Kenneth on LinkedIn or visit his company website for additional insights and resources. If you’re planning to start your own business and considering the LLC structure, this guide is an indispensable resource.


The book is also available in a Spanish language edition, Contabilidad Financiera Para No Contadores. Ecommerce accounting often uses the cash basis accounting system, in which bookkeepers declare revenues and expenses at the moment they are actually received or paid. Many smaller businesses—with small numbers of financial transactions—appreciate the simplicity of a single-entry system. A double-entry accounting system can be a suitable accounting method for a business of any size, but it helps to have a trained bookkeeper recording your transactions if you use this method. David H. Ringstrom’s guide is an indispensable tool for users looking to get the most out of QuickBooks Online. With expert insight and clear instructions, it simplifies the process of setting up and navigating through QuickBooks Online, helping businesses effectively manage their finances.

It also explains how to create a general journal and general ledger, as well as a master budget. Whether you’re a solo business owner, a budding bookkeeper, or a seasoned CPA, having the right accounting books can help ensure that your finances are on point. Financial literacy is important and sharp accounting skills are crucial if you want to succeed in business. From tax planning to making the right decisions based on accurate financial information, solid accounting knowledge is key.

The 9 Best Accounting Books

You’ll delve into the core components of managerial accounting, including cost classification, behavior, and management, budgeting processes, performance metrics, and decision-making strategies. Holtzman provides a clear roadmap to understanding how managerial accounting supports business accounting strategic planning and organizational control in any business setting. “Cost Accounting For Dummies” covers various crucial topics, including how to set up a cost accounting system, controlling and budgeting, dealing with variances, and making informed pricing decisions.

small business accounting books

In this text, accountant Greg Crabtree discusses how accounting practices can seamlessly lead to a business strategy that grows your company. This book is designed for people who are just as interested in entrepreneurship as they are in bookkeeping. Throughout this journey, I’ve explored the depths of accounting handbooks, catered to the needs of accounting students, and now shed light on the most recommended reads in the realm of accounting for small business owners.