Reddit reviews The Portable MBA in Finance and Accounting

We found 2 Reddit comments about The Portable MBA in Finance and Accounting. Here are the top ones, ranked by their Reddit score.

Check price on Amazon

2 Reddit comments about The Portable MBA in Finance and Accounting:

u/PinnacleAnalysis · 1 pointr/smallbusiness

I hate to send someone to my direct competitors, but it sounds like you really would benefit from starting a relationship with a local accountant/CPA firm. They can typically help you with all of the above along with more traditional "business setup" services.

I would love to say "hey head over to our site and we'll get you all sorted out," but it seems like your type of company would get more out of an accounting firm than from us. Feel free to reach out though when you are in need of forecasting services.

As far as how to learn the financial side on your own, I found this book to be pretty helpful when starting out.

Good luck!

u/theoryofchaos · 1 pointr/smallbusiness

This was the best way to get most entrepeneurs up to speed in financial analysis: The Portable MBA in Finance and Accounting. http://www.amazon.com/The-Portable-MBA-Finance-Accounting/dp/0470481307 there is a pdf download through womlib.ru for free as well (google it)

My strong suggestion is that if you are comfortable with excel, that you look for a restaurant business plan template and use it for a guideline as you fill in the data. A professional accountant may or may not be interested in explaining how depreciation expense flows through the statements and its tax impact, but an intro to accounting class at a community college will cover topics like that.

I can build interactive statements from scratch (blank worksheet), but it is a skill that took years to learn - it is something that you should not be focused on while developing your business. A talented bookkeeper should be able to do the basics for you without costing you CPA hourly rates.

An unsolicited response to an unasked question: does the bank that you are speaking with have a history of financing restaurant startups? Banks will sometimes lend against your home equity if you have 720+ fico score. Some specialty lenders will lend against established cash flows for business expansion or equipment purchases. I have never heard of a traditional bank lending money to finance a restaurant start up. Make sure that you are setting your expectations realistically.