Accounting for Managers

Accounting for Managers - You need an accounting system that’s the right size to handle the demands of your business. It also has to be well designed so that it gives you the information you need. Many businesses can be managed successfully with nothing more complicated than a checkbook register. As volume increases, however, you may go to a manual system or a computer spreadsheet. Higher volumes and more transactions demand a computerized system. These systems range in price from under $500 to well into seven figures for large organizations.

To start another image in your mind, your accounting system is the plumbing of your business. It is the way you direct, match, and track your resources. What were the sales of Product X? How much time did Bob spend on Project Y? Am I over my travel budget for the year? These answers come from your accounting system. The plumbing in a pup tent is pretty basic. As you How to Speak Accounting 5 Think like an Owner “Wait a minute,” you say.“I’m a first-line supervisor in a machine shop.What do I need to know about starting and running a business?” Here’s a news flash.The key to becoming a successful manager is to start thinking like an owner.That single attitude adjustment will put you head and shoulders above many, if not most of your peers.You will now start to see the relationships between and among business activities. Make that adjustment and you have earned back the price of this book in multiples of thousands. Of course, the second key is to wait until you’ve absorbed and practiced the lessons in the rest of this book before telling the CEO how to run the business. move up in complexity, the plumbing in a 1000-square-foot house with one bathroom and one kitchen is simpler than in a mansion with a dozen bathrooms and several kitchens. You want an accounting system that meets your needs.

DOWNLOAD EBOOK