Cashflow problems kill more small businesses than anything else. But before you can tame cashflow you have to understand your business: and that means learning basic accounting. Covering everything you need to know from accruals to year-end, Actually Useful Accounting is written by one of the masters of clear explanation: Phil Cohen. Phil started and still runs two consulting firms in Sydney, Australia, and has 30 years experience of what it takes to make a business a success. Contains excellent advice on tax, insurance, invoicing, payment terms, as well as a clear and bulletproof explanation of accounting and its application to running a successful business.
Most Helpful Customer Reviews
As a business owner, and one who is outside my comfort zone when dealing with book keeping and accounting, this book is a breath of fresh air.
It cuts through the dry boredom of accounts and instead makes the world of numbers understandable and even enjoyable. Now that's an achievement.
Most importantly of all though is that the author has been running several of his own successful businesses for over 30 years and so has managed to do what accountants don't - he gives you the knowledge in a way that you understand it, and in a way that is memorable so that it sticks.
This book is essential reading for anyone running a business even thinking about doing business, so do yourself a favour and eliminate years of potential frustration and pain by getting this book now as your trusted advisor in your business. It will save you time so that you can get on with making a success of your business, financially.
I recommend this book to anyone who is unfamiliar with accounting. Unlike the author, I have remained on the engineering side of consulting, and while I am familiar with many general concepts of accounting I have never really felt comfortable about day-to-day implementation.
Reading this book is an encounter with the subject in a very natural context, and the logic behind accounting practices comes across very clearly.
I would have given it 5 stars but for a few (admittedly nit-picky) things:
- A number of typos and editing oversights - The way that the concept of "credit" and "debit" is discussed is from the very non-intuitive vantagepoint of "the company." Rather than make it more logical to me, it has the opposite effect. I doubt that I will ever get used to the idea of something like a profit being bad news for a company. (Yes, I get it that I'm stuck in the viewpoint of an investor.) Then I have to call the bad news a...
I am a bookkeeper at a company that knows nothing about accounting. This was short and I was able to learn the basics of my new job.
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