Small Business Accounting Simplified by Vincent Van Gogh  » Books  »
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  • First, I like how the beginning of the book defines accounting terminology
  • It discusses the difference between accounting and bookkeeping, which frankly, I thought were the same thing

    • by C.Channing
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      If you are someone who has recently started a business or have profoundly considered going into business for yourself, then I would highly suggest you order a copy of Small Business Accounting Simplified by Daniel Sitarz. Small Business Accounting Simplified is a book for those who are do not know the first thing about business financials, and the book breaks every aspect of accounting down to elementary terms.

      First, I like how the beginning of the book defines accounting terminology. It discusses the difference between accounting and bookkeeping, which frankly, I thought were the same thing. The book also goes on to define what assets are and the different types of assets a business can have. It also goes over


      account receivable and account payable which are highly significant for a business owner to know. I also like how the book covers the two types of accounting system: single-entry and double-entry, and I like how for new business owners, the IRS recommends a single-entry accounting system.

      Second, I like how there is a section that is dedicated to business accounts and what they are. Business accounts are a means of tracking income and expenses: you organize them into categories and then assign them different account numbers. I like how there are examples accompanied with the section and that the examples shows you exactly how to correctly create business accounts and assign the appropriate numbers to them.

      Third, I like how the ...


      • mid-section of the book focuses solely on tracking income, expenses, assets, and debts. I assumed that you would record expenses and debts together; however, the author suggests you do them separately in order to see exactly where your money is going. The only difference with the mid-section portion of the book is that it does not give any examples; however, it does present you with sample worksheets you can use for your own accounting system(s) by.

        Finally, the last portion of the book just helps you organize all your monthly expenses and income in order to file your business taxes at the end of the fiscal year. There is a great section on how to prepare a profit and loss

        statement, and the back portion of the book is dedicated to breaking down the different business entities and what forms to file for tax time. I like how the last twenty pages or so have all the IRS forms for you to familiarize yourself with.

        Overall, Small Business Accounting Simplified by Daniel Sitarz is a great book for new business owners or for new business accountants. All the accounting jargon is broken down to simple definitions and followed by examples and worksheets. If given the proper time to really comprehend the information, anyone who is pondering starting a small business will really appreciate the author and his efforts to make running the financial aspects of the business a piece-of-cake.




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