Will Roney

Book Review – Small Business Financial Management Kit for Dummies by Tracy & Tracy

In Non-Fiction Writing on May 15, 2011 at 14:57

Small Business Financial Management Kit For Dummies

The key to a successful business is how much money it makes. If a business doesn’t make money, then there isn’t a business there. The key to understanding this all is to ensure that you maintain control over what is coming in and what is coming out.

Small Business Financial Management Kit for Dummies” by Tracy and Tracy is a book that aims to put all small business owners in a position where they understand how to manage the money in their organisation.

From providing examples of profit and loss accounts to follow, and understanding how to keep a small business solvent, this is a book that aims to provide a good solid foundation in financial techniques to the reader.

There are sections relating to cost scrutinisation with an aim to providing meaning to your balance sheets, and chapters on how you can tweak your financial management when providing services or you manufacture parts for resale. This book even gives advice for the owner at the point where you’ve decided to value the business for the purposes of selling it on.

As is usual there is a summary “Part of Tens” chapter which provides a set of summary rules that are supported by the rest of the book. In addition, the book encloses a CD of example files that a business owner can use to manage the finances of their business.

There is only one proviso that the UK reader must make, is that the tax information provided is related to US requirements only. For the UK, it is imperative that the correct codes are followed, but they will have to be found elsewhere.

This is a good solid reference book that would be a worthy addition to anyone who wanted advice to control their business finances.

Have you enjoyed this review? If you have, click through and buy the book HERE!

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