Build Your Business Skillset – New Accounting Book Review and Summary

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In the business world, accountants are rock stars. Such is the power of those who control the purse strings.

Many entrepreneurs, small business owners, and managers have to deal with accounting functions on a daily basis and many of the people who fall into these categories rely on the services of external accounting firms.

The problem is, without really understanding the concepts behind the accounting tasks they complete on a regular basis they are leaving critical tools (and money!) on the table.

As accounting students will tell you, accounting can be confusing and tedious. Accounting is notoriously boring in the classroom. When it is put into real world terms however the value that accounting functions have for the success of your business becomes immediately clear.

This post is a review of a new accounting book that finally smashes the myth that the topic of accounting must be dense, dry, or difficult to learn.

At about 200 pages, author Josh Bauerle’s new Accounting QuickStart Guide makes the process of learning accounting easy, crystal clear, and possibly even fun.

Loaded with illustrations, examples, and other learning aids, Accounting QuickStart Guide compliments other books in the QuickStart Guide series for small business owners and entrepreneurs and is a tremendous resource for anyone looking to round out their accounting expertise.

Who is Accounting QuickStart Guide for?

This book is clearly written with new business owners and entrepreneurs in mind. It is also a helpful resource for accounting students, accounting professionals, middle and front line managers, and anyone else who wants to take the first step on the road to mastering double-entry accounting.

The language is clear and concise and the topic choices do not presume that the reader already knows anything at all about accounting. This approach makes the book very digestible and ideal for first-timers.

Who is Josh Bauerle?

Josh Bauerle, CPA is the founder of CPA on Fire. Over the course of his ten-plus years in the industry, Josh has experienced a wide range of roles in the accounting world. This experience has allowed him to see firsthand the importance of proper accounting at all levels of business.

Josh has become a sought-after expert in the accounting and tax industry, appearing on some of the largest business pidcasts in the country and on national TV shows.

What’s Inside Accounting QuickStart Guide?

The book is broken into 10 straightforward chapters.

“Chapter 1: Accounting as a Tool of Business” – This chapter explores some of the major business-related reference points used frequently in accounting, such as business entity types and the three main kinds of business activity. The chapter also introduces the four main branches of accounting.

“Chapter 2: Introduction to Financial Statements” – This chapter introduces common financial statements as well as other essential accounting concepts, such as accrual vs. cash-basis accounting andthe use of fiscal years.

“Chapter 3: Financial Statement Analysis” – This chapter explore show certain metrics and formulas can be used to analyze financial statement data. Some common methods of asset depreciation are also introduced.

“Chapter 4: Assets = Liability + Equity” – This chapter introduces the fundamental accounting equation (assets = liabilities + equity)and explains why it is the basis for the widely used “double-entry”accounting system. Chapter 4 also explains in detail the critical concept of debits and credits.

“Chapter 5: Recording Business Transactions” – The accounting methods introduced in this chapter support organizational structures and protocols that keep accounting systems accurate and intelligible.

“Chapter 6: Managerial Accounting: How to Put Accounting Fundamentals to Work on Behalf of Your Business” – This chapter covers a broad range of managerial accounting concepts includingcost-volume-profit analysis (CVP analysis), budgeting, and multi product analysis.

“Chapter 7: Using Financial Accounting to Select and MonitorStocks and Other Investments” – While the primary intent of this chapter is to showcase accounting as a useful tool for investment selection, perhaps more useful for accounting students is the chapter’s detailed review of GAAP (generally accepted accounting principles).

“Chapter 8: Income Tax Accounting, or Keeping Your Business Outof IRS Crosshairs” – This chapter provides a summary-level look atthe critical role played by the accountant in the tax services industry.The anatomy and logic of the progressive income tax system is also detailed in this chapter.

“Chapter 9: Detecting and Preventing Fraud” – This chapter is achronicle of dark deeds performed by unscrupulous office personnel.It explains how accountants sniff out fraud while minimizing fraud incentive and opportunity.

“Chapter 10: Sizing Up the Software for Accounting and Bookkeeping”– This chapter provides a look at the ever-present technological components of accounting, including when to implement new software and how to define selection criteria.

Conclusion

Published by ClydeBank Media, Josh Bauerle’s Accounting QuickStart Guide is a great read and an even better resource.

Bauerle isn’t afraid to use copious examples with his work and his writing style is very engaging. He successfully deconstructs critical accounting concepts and lays them out without coming across as boring or dry.

Josh Bauerle’s Accounting QuickStart Guide is available on Amazon

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Hi I'm James George, the founder of Mind My Business NYC and author of this blog. I am an entrepreneur and internet marketer based New York City. My wish is that, this website helps you to grow your business and achieve your goals.

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