Financial Management 101: Get a Grip on Your Business Numbers

Debbie Feisst is the reference/Internet resources librarian in the
Information Services Division of the Edmonton Public Library.

These two immensely readable books developed for small-business owners
cover such important areas as bookkeeping, analyzing and tracking
financial information, starting a business, growing a business, and
selling a business.

Mohr, a chartered accountant and a certified management accountant, ran
her own financial consulting business for many years, is a regular guest
on radio programs, and writes articles for business magazines and
newspapers. In her introduction to Bookkeepers’ Boot Camp, she offers
the staggering statistic that 96 percent of all small businesses started
in North America this year will fail within 10 years. She claims that
“bookkeeping can absolutely be the difference between bankruptcy and
success” and, using real-life examples (such as Joe and his wife
Becky, who run a business called Joe’s Plumbing), promotes a holistic
approach to business.

The books provide small-business owners with excellent advice on
managing paper flow, understanding balance sheets, accounting for
inventory, recording sales cycles, accounts receivable and payable,
managing debt, and compensating employees. Both books are attractively
designed and include useful case studies, graphs, charts, chapter
summaries, appendixes, and a glossary. The prose is informal and easy to
read. Anyone interested in starting a business or just wanting to get a
better handle on an existing business should invest in these books.