The 3 Best Books on Accounting

You have an accountant, a bookkeeper and didn’t go to school for accounting that is why you don’t do it. But you are a small business owner and understanding the basic principles of accounting is crucial. Understanding a balance sheet, cash vs. accrual accounting, after net income items, etc will be the difference between having a good business and a great business. Plus when you speak to your CPA having a basic understanding of accounting principles will make one of your key advisors more valuable. The best way to improve your knowledge of course is reading and as such we have suggested 3 good reads below.

1. Accounting Made Simple: Accounting Explained in 100 Pages or Less

Find all of the following explained in Plain-English with no technical jargon:

The Accounting Equation and why it’s so significant
How to read and prepare financial statements
How to calculate and interpret several different financial ratios
The concepts and assumptions behind Generally Accepted Accounting Principles (GAAP)

2. The Accounting Game: Basic Accounting Fresh from the Lemonade Stand

Simplify the world of accounting: Whether you’re a manager, business owner, or aspiring entrepreneur, you’ve likely found yourself needing to know basic accounting but intimidated by complicated accounting books. How do you manage an account balance? And how do you increase profits? The Accounting Game makes complex financial accounting as simple and fun as running a lemonade stand!

3. Accounting for Small Business Owners

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 that is 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 to:

Set up and run your business
Manage and sell your product or service
Perform a month-end balancing of accounts

At IRx Consulting we are Accounting experts and offer a comprehensive Pharmacy Accounting service with a suite of complimentary services including Data Dashboards, Payroll & Human Resources and Pharmacy Management consulting.