Overview

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 practical 172 page guide and can be very helpful to such a person or to someone just going into business. Buy today to have maybe one of the most informative and practical business books you can read.

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9780692951996

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In 1971, Ed Wuensche founded Greater Houston Business Services providing financial statements, tax services, etc. He's still in business today, though downsized, and has prepared thousands of financial statements for many clients across multiple businesses for over the last forty-seven years. Ed Wuensche earned his Bachelor of Business Administration from the University of Texas at Austin.

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