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Understanding Financial Accounts (Written under the pseudonym "Phil Stone")Published by How To Books Ltd
Using accounting in your business does not require years of training. Having said that I am not suggesting that you can replace the services of your accountant. Your accountant is there to provide specialist help and guidance. This will not, however, be forthcoming on a daily basis unless you can afford to pay them for such involvement. By understanding the techniques of accounting in your business you can use accounting to control your business more effectively. By using the advice in this book you will be able to take practical control of the day to day financial side of running your business. Not only should this make you more efficient it will also help your bank and your accountant. By showing your bank that you have control over your finances they may be more willing to support you if you need to borrow money. By keeping your records in a proper format you will help your accountant to prepare your final accounts. In real terms this should save you money. Small business accounting is all about being practical. It is not difficult and once you understand the rules it will all fall into place. Maintaining tight control of your finances is essential if your business is to succeed. By tracking your finances you will see problems before they occur. This does at the very least give you time to put them right. |
