I was reading a post on Link4Business called Accounts Demystified that talks about how important it is for business owners to get their head around their company’s accounts and what they mean. Here’s how the problem is described:
Accounting is viewed by most non accountants as a complicated and highly technical matter, and this is a view that is encouraged by the accountancy profession. But the truth is that it is based on a very simple principal which once understood allows business owners and managers to understand the financial state of their business without the need of a costly accountant.
He goes on to recommend a book that could help if you’re in the process of trying to understand your accounts; and the way the book is described sounds like it could be useful to anyone running their own business, especially as it was written by someone who isn’t accountant. So next time you’re looking for something to read, wait for a nice evening, pull our a couple of patio chairs and teach yourself some accounts.