Management-accounting

Mr. Rachlin and Sweeny make no excuses for writting a dry book. "The field of basic accounting and finance frankly offers little that is new or exciting." Sorry, I just couldn't take this tone. Try the McGraw-Hill 36-Hour book for a more lively presentation of the basics.

After purchasing one of those "for dummies" type books on Accounting I purchased this book. I have found it to be an easy and quick read, clear, concise, to the point and very helpful. I was looking for something simple and just wanted to cover the basics - this book met my needs perfectly.

This book about finance and accounting concepts is especially useful to professionals with no formal training in finance, budgeting, investment or accounting. As an urban planner and development advisor, I am often presented with land use proposals which are framed in financial and accounting terms. This book offers a clear and simple approach to these disciplines and has given me the tools to make much more informed decisions in my work. I highly recommend it to others in my trade and to those, like me, who often glaze over finance and accounting terminology.

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.