Reddit reviews Accounting Made Simple: Accounting Explained in 100 Pages or Less
We found 7 Reddit comments about Accounting Made Simple: Accounting Explained in 100 Pages or Less. Here are the top ones, ranked by their Reddit score.
ClearConciseValuableSimple
Articles from reputable sources are a decent source of knowledge, but some quality business books will get you an infinitely better understanding of concepts. Here is my personal business book list if you want to get a "universal generalist" understanding of business:
I am graduating with a Bachelor of Commerce Honors degree in May and I can easily say that one of these books (average price ~25$) has significantly more content than most individual classes I have taken (~600$). However, keep in mind that business knowledge and business acumen are two entirely different things. Knowledge is easily obtainable through books like these, and acumen is the result of applied experience with decision making. In short, it is one thing to be book smart, but it is another to get out there and actually apply it. No one can give you that in the form of an article or book - you have to do that yourself.
edit: added links to amazon
Sup Stab-Stabby,
Before you read what I have to say, I highly suggest checking out this sub: https://www.reddit.com/r/Bookkeeping/ . I asked a question there about bookkeeping and got some pretty honest and straight forward advice.
Anyways - from what I understand (and I could be wrong, anyone feel free to correct me), it's essentially making journal entries and making the ledger, writing up invoices and income statements.
You absolutely for sure need to have some basic concept regarding what to debit and credit when there is a transaction, and other basic accounting rules.
If you are not well versed at all in accounting (like I was and still am, however I've been studying in my spare time), I highly suggest you read this book: https://www.amazon.com/Accounting-Made-Simple-Explained-Pages/dp/0981454224
The author explains the accounting concept and doing things like a book keeper would do very simply, and straight to the point.
You do not need to be a math wizard to be a bookkeeper, but you need to do things like Add, subtract, multiply, or divide in accounting terms.
For example: Return on Assets = Net Income/Average Total Assets.
But I'm not sure if you'd use something like that in bookkeeping, it's more of keeping records I'm assuming .
I do want to point out that you're not insane considering a career like this. I'm in the exact same position - decided I needed a career change and started looking into different careers out of desperation. Found accounting to be doable / interesting, financially stable, seems to be a decent job market and it's something that doesn't take long schooling wise compared to... let's say law school or becoming a doctor.
Hope this helped you out in some way or another
Say no more, fam.
You don't need a degree to run a business. Having your own business allows you to experiment with these books first hand instead of taking some professor's word for it. Professor's usually just read what the book says. If they were actually good at running a business they'd probably be doing that.
Hey! What's the main topic you're looking to learn about? If you want to know strictly personal finance, I would check out a beginners book on accounting. This will provide you with the knowledge to balance all your books and plan your taxes. I'd recommend this book:
https://www.amazon.com/Accounting-Made-Simple-Explained-Pages/dp/0981454224
If you want to learn about something more specific though just let me know!
Ignore the peanut gallery - if you're reasonably smart and willing to put in a little effort, you can learn enough accounting to handle it yourself in a few weeks. I did, and a year later I met with an accountant just to go over what I had done. It took him only a few minutes to say "you've obviously got this - no need to pay me."
Double entry accounting isn't immediately obvious, but it's not that complicated either. Everything you need to know is in this book: http://www.amazon.com/Accounting-Made-Simple-Explained-Pages/dp/0981454224/ref=sr_1_1?ie=UTF8&qid=1375022942&sr=8-1
EDIT: I'm just talking about accounting here. There's other legal paperwork you'll need to handle too (board meeting minutes, Bylaws, etc). Also not hard to handle on your own, but for that stuff, this is the book you want: http://www.amazon.com/The-Corporate-Records-Handbook-Resolutions/dp/1413312039/ref=sr_1_1?ie=UTF8&qid=1375023321&sr=8-1
I need this book to help me be more confident in my job. Some days I feel like I don't know all of my job and this would help me understand more.
Ok, well a lot of Introductory Accounting books are really more about bookkeeping than anything else. I'd avoid those. If you want to get a head start, the Phillips and Libby one is good. I teach it in my Intro Accounting class. This is an older edition, but you can get a used version for $3.00 on Amazon so that's a plus. Everything builds on the concepts in this book. To succeed in Accounting, you have to master debits/credits and journal entries. There are lots of great YouTube videos on Accounting concepts too so if there's something in the book that's not making sense, see if you can find a good video on the topic.
Here's a link to purchase the Phillips and Libby book: https://www.amazon.com/gp/offer-listing/0078025370/ref=sr_1_1_twi_har_1_olp?ie=UTF8&qid=1465504702&sr=8-1&keywords=fundamentals+of+financial+accounting+book+libby
Also, I haven't read this book, but it sounds like it covers all the basics well.
https://www.amazon.com/Accounting-Made-Simple-Explained-Pages/dp/0981454224/ref=sr_1_1?ie=UTF8&qid=1465504552&sr=8-1&keywords=intro+accounting+book
Best of luck!