Cover Your Nut
Practical Accounting in Plain English for the Real World
RG Bud Phelps’ accounting books explain why financial statements provide an almost magical look into the health and well-being of a business, offering business owners clues to help them analyze their progress and make plans for the future. RG Bud Phelps Accounting Book, his first, was written for managers with limited accounting experience as a guide to better understand of practical accounting and their own financial statements.
To purchase the Accounting Book Cover Your Nut or other titles by Bud Phelps visit our online store. Excerpts from the book, Cover Your Nut, by RG Bud Phelps
“In this section (Accounting 101), I will try to lay the groundwork for a better understanding of the areas in accounting where many businessmen need the most help. You must understand that the only reason that you are starting a business is to make money, and to do so you must have the tools to accomplish this. ‘Cover Your Nut’ is a general term for covering the costs and expenses of your business to make a profit, and something that is often left out in the early planning stages of a business.”
“Accounting follows rules known as Generally Accepted Accounting Principles (GAAP). The Securities & Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB) set accounting policy in the United States and developed this set of rules called (GAAP). The rules are made to establish uniformity in accounting systems and financial statements.”
“Historical Costs and Accrual Accounting Footprints: Historical Costs are the cost values entered through accounting entries. This give the accounting records a consistency and reduces unnecessary adjustments as values change. Accrual Accounting is when transactions completed may not require cash. This allows credit purchases or sales to be recorded, therefore matching current revenue with current expenses.”
Beginner’s Guide Book
A Fish Tale – A Trade Off: Practical Accounting Principles for Fishing Skills by RG Bud Phelps, will bring out accounting principles throughout a fictional sharing process as a trade off for a friend’s fishing skills. This fictional business story shares real skills in an atmosphere of a fishing trip to Western Ontario, Canada. Throughout this story Bud will share four key Practical Accounting Principles: Principle #1-Chart of Accounts, Principle #2-Financial Statements, Principle #3-Management Footprints, and Principle #4-Internal Controls.
To Purchase The Business Plan and Beyond or other accounting book titles by RG Bud Phelps visit our online store. Excerpts from the book, The Business Plan and Beyond, by RG Bud Phelps
“The book, The Business Plan and Beyond, is a key start-up reference guide book covering a section on accounting you would find in any good accounting book and could put you and your business in the company of the small percentage of start-up businesses that are successful.
“A template of a business plan will be available on my website, as well as supportive Financial Statement templates, such as the ones you will need to include in the Financial Section. Templates can be downloaded from the Bud’s Practical Accounting website by clicking here.
“Reading and including this accounting book in your business library will not guarantee success but not doing some of the things suggested could guarantee failure.”
A Fish Tale – A Trade Off
You can find all kinds of accounting books on line, just Google accounting books, and you’ll see what I mean. I promise you my accounting book will give you the keys toward a better understanding of Practical Accounting through a fun fishing experience. You may know your products or services very well, but not how the economic history of your company is revealed. Utilizing the Practical Accounting Principles presented here can really help you become a more knowledgeable and wiser manager.
To Purchase A Fish Tale – A Trade Off or other accounting book titles by RG Bud Phelps visit our online store.