Bookkeeping Management

Ed Wuensche founded Greater Houston Business Services in 1971. Having provided financial statements over many years, he has observed and identified practical information which can lead to a successful business. He writes about it in Bookkeeping Management, information which can be easily learned without any previous accounting knowledge.

     Point 1: Learning the components of the Income Statement and Balance Sheet. You will learn the
         various parts of the financial statements and how to manage from them.

     Point 2: Understanding how the business is doing on a profit bases. That means knowing how to detect
         problems in your business by studying the Income Statement and Balance Sheet. These statements should
         be your road map.

     Point 3: Make sure your books are kept on the accrual basis, not the cash basis. This book explains
         the difference and why it is so important.

     Point 4: Make sure your Income Statement and Balance Sheet are correct. Bookkeeping
         Management shows you what to do to assure those statements are true. Though you may have
         the greatest CPA, he/she may not oversee the assistant's work.

     Point 5: You bought an apple for $5.00 and sold it for $10.00. You expected a $5.00 profit, but the
         books show you only made $2.00. Explore why that happens. Similar examples can apply to
         sales of services as well. The book explains how a lower than expected profit is usually due to
       an operational or theft problem.

     Point 6: Besides the above, events can happen that can derail the business unexpectedly. This book
         has 30 pages of tips, pitfall stories, other information, and 7 client stories with lessons learned.
         NOTE: Learn as much as you can on you own about your particular industry, expected and
         unexpected shocks that could affect profits. That could save you lots of heartaches down the
         road.

The greatest tragedy is a competent business owner, who works long hours every day, but makes little profit or goes out of business. Bookkeeping Management, is a...