Cover Your Nut: Practical Accounting In Plain English For The Real World

I am going to cover several different types of businesses to give the reader an insight into their operations. I will not be using actual companies, but realistic studies based upon actual companies. I will give the reader an outline of the individual business that will include: the type of business, an analysis regarding the business concept, the marketing strategy, and financial information that will cover budgets, forecasts, and break-even analysis, (Will it "Cover Your Nut"?). All of us would like that magic formula to pick the business that we would like to start and run successfully, and hopefully this book will at least give you some new insights covering the different types of businesses. All of the businesses that I will review in this book require a planned management level accounting system to assure that all bases are covered as the company goes through each of the operating cycles. The item names (accounts), shown on a financial statement are intentionally placed in an order that allows management to read what has happened during an operating cycle (one month, six months, or a year). Keeping track of the company's assets, liabilities, income and expenses is all taken care of by a good accounting system and proper recording of the individual transactions. My goal in this book is to give you a better understanding of the role of accounting in managing a company and the application of these management skills. I do not intend upon teaching you to become an accountant, but to give you a better understanding of the need for accounting systems in developing your management skills. You can always hire an accountant, but don't you think that it would be in your best interest todevelop an understanding of what the financial statements can show you?