Book on running a small business

wormie

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Ok so I wanted to get a recommendation. My wife is a podiatrist. She is about to open up an office. She has no idea about running any sort of a business and while I will be helping her with what I can, I have my own shit to take care of so my time is limited. I want her to get the basics of the financials involved. Obviously it does not need to be anything in depth, thats what accountants and lawyers are for. But she needs to know how what she does affects her tax liabilities and revenue. Anyone able to recommend a book, a text book is fine as well, that will cover the basics of such things?
 
Blazin

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Any type of introductory accounting text book would probably be very helpful if she is discipline enough to go through it, but both accounting and finance knowledge base broadens out pretty quickly. She may just need the first 5 chapters type situation to understand basic accounting rules of how a balance sheet and income statement are structured. I think the hardest part of small business accounting for people without accounting backgrounds is the payroll and taxes, but fortunately there are now tons of resources available to simply outsource this entire process to a payroll provider.

For text I would use pearsonMyLab Mastering | Pearson
you can buy on amazon and their lab stuff online can helpful

A program like quickbooks also does a fair bit to teach you the basics. I personally think Sage (Formerly Peachtree) is the stronger program but Quick books will do a little more hand holding for those with little accounting knowledge.
 
wormie

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Blazin_sl said:
Any type of introductory accounting text book would probably be very helpful if she is discipline enough to go through it, but both accounting and finance knowledge base broadens out pretty quickly. She may just need the first 5 chapters type situation to understand basic accounting rules of how a balance sheet and income statement are structured. I think the hardest part of small business accounting for people without accounting backgrounds is the payroll and taxes, but fortunately there are now tons of resources available to simply outsource this entire process to a payroll provider.

For text I would use pearsonMyLab Mastering | Pearson
you can buy on amazon and their lab stuff online can helpful

A program like quickbooks also does a fair bit to teach you the basics. I personally think Sage (Formerly Peachtree) is the stronger program but Quick books will do a little more hand holding for those with little accounting knowledge.
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Yeah she is going to outsource all the accounting work. I just want her to have some grasp of how things work. Thanks.
 
Shonuff

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wormie_sl said:
Ok so I wanted to get a recommendation. My wife is a podiatrist. She is about to open up an office. She has no idea about running any sort of a business and while I will be helping her with what I can, I have my own shit to take care of so my time is limited. I want her to get the basics of the financials involved. Obviously it does not need to be anything in depth, thats what accountants and lawyers are for. But she needs to know how what she does affects her tax liabilities and revenue. Anyone able to recommend a book, a text book is fine as well, that will cover the basics of such things?
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Yes, it's called a business degree.

I'm not trying to be a smartass, she can start with QuickBooks for Dummies, but there's a hell of a lot more to running a business than can be encapsulated in a single book. Also, pick up your basic college Accounting 101 textbook used at your better colleges in the area. Hell, she can probably find the syllabus online and do the homework.
 
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