Introduction to Best Books on Finance and Accounting
Finance and accounting are critical for every business and individual. It plays an important role. For businesses, finance is related to the activity of investment, taking credit or debt for leverage. For individuals, finance relates to personal financing that includes banking, insurance, mortgages, retirement planning, etc. For students, we know the importance of excellent books to gain deep insight into the subject whether it’s finance or accounting.
Let’s start talking about all of these best books on finance and accounting and know what you can expect from reading these best books on finance and accounting.
Rich Dad Poor Dad By Robert Kiyosaki
This is one of the best books on finance and accounting and is for both students and parents for personal finance. The author, Robert Kiyosaki shares his growing up lessons and experiences from his father as well father’s friend. He redefines the definition of assets and liabilities. This book teaches financial literacy, building wealth, investment in assets, and financial independence. Robert Kiyosaki is known for his irreverence and courageous behavior. Therefore, this book is all about the reality and contradictions of the usual way of learning finance. This book is my favorite and showed me a different perspective and top best books on finance and accounting
A quote from this book –
“Workers work hard enough to not be fired, and owners pay just enough so that workers won’t quit.”
Think And Grow Rich By Napoleon Hill
Napoleon Hill studied more than forty millionaires to find out steps taken by them to become successful and ultimately become millionaires. Then this knowledge is presented in front of us. He also wrote all the steps. And ‘desire’ is one of the steps to be successful. A powerful quote is taken from the book “No one ever is defeated until defeat has been accepted as a reality.”
Our mind is an asset, a most powerful tool and we all are somewhat like Thomas Edison or Nikola Tesla but the only difference is we accept defeat. Therefore, everyone should read this book if they want to achieve success and dreams. This book is second in the best books on finance and accounting.
Your Money Or Your Life By Vicki Robin
This book is very unique and it talks about the relationship between money and self-fulfillment, inner happiness, and satisfaction. It defines that relationship with money is beyond spending and earning but it’s a relationship of deriving the value of satisfaction and joy from people all around us such as family, friends, and community.
Assume, a thief points the gun at you and says,” Your money or your life”. What would you choose? You’ll hand over the money to save your life. However, we’re sacrificing our time, our relationship, our health, our joy for jobs to earn money but we don’t pay attention to it since it takes so much time. One of the best books on finance and accounting and It is considered the best books on finance and accounting.
The Intelligent Investor: The Definitive Book On Value Investing By Benjamin Graham and Jason Zweig
The author, Benjamin Graham, is known as the father of value investing. This book imparts the knowledge of investing in the share market. It focuses on measuring the value of companies before investing. Intelligent Investor is an excellent book in the segment of the best books on finance and accounting for beginners as well.
This book is also immensely appraised by well-known investor Warren Buffett. A great book for students or anyone interested in investing in the share market. It is considered the best books on finance and accounting.
Security Analysis By Benjamin Graham
This book is all about teaching the way of selecting the best security which will not only deliver a good return but also keep the capital safe. Benjamin has provided all the tools and techniques in a structured way.
Do you know, you can’t beat inflation even with a fixed deposit. Share market is an opportunity to grow our money. For example, Sensex increased by 18.5% in 2021. Therefore, It’s a must book for finance. Wouldn’t you love to earn money? Irctc share price and bajaj finance share price are 841 INR and 6917 INR respectively. Irctc gave a return of 198%.
So get on the road to earning money with these best books on finance and accounting.
Accounting Made Simple By Mike Piper
Mike Piper is a certified public accountant. This book readily explains the concepts, therefore, the readers won’t get lost. He also elaborates the concept with simple examples. One of the best books on finance and accounting especially for accounting.
There are three huge advantages of this book in my opinion which I’ve listed below:
- This book is very beginner-friendly.
- All concepts are explained in under 100 pages
- Users can complete this book within a few weeks if they dedicate just a few hours in a day
Accounting All-in-One For Dummies By Kenneth Boyd
If you’re not familiar with any concept or don’t even the meaning of “Accounting”. Then this book is for you. They have elucidated the topics in the simplest manner and in an easy-to-understand language. They covered every concept such as understanding the financial statement or detecting financial fraud with the elementary examples of small businesses. This book made its way to the top 10 best books on finance and accounting.
The uniqueness of this book is author took a very well-known example to make us understand the concept. An example is the lemonade stand Venture. They covered all the topics in ‘layman’s term.
Accountancy By DKmanoeuvre Goel
‘Accountancy’ by Dk Goel is a quite popular book in India. Teacher teaches the students accountancy at schools in India. These are excellent choices for students and for those who want to make a career in it. The significance of this book over others is concepts like book keeping explained in huge depth with a lot of challenging exercises and examples. One of the best books on finance and accounting especially for accounting.
There are three separate books:
- Accountancy Part A Vol – I
- Accountancy Part A Vol – II
- Analysis of financial statement Part B
As a student of finance, I’ve personally studied from these books. I recommend it to you as well.
Financial Shenanigans By Howard Schilit
Business Week awarded this book with the title of “Sherlock Holmes Accounting.” As the name suggests, this book is about detecting frauds, understanding the financial statement, and, the tricks used by accountants to exaggerate the revenue. He exposes every trick that the company uses. This book made its way to the top 10 best books on finance and accounting.
I would recommend this book to people such as investors and students to learn more about:
- Revenue manipulation
- Cash Flow manipulation
It is quite a different book. After reading this book, Investors can catch or notice if a company uses any maneuver to exaggerate the income.
Intermediate Accounting by Donald E. Kieso
Some people are beginners and very few are elites but a lot of people get stuck somewhere in the middle. During learning accounts, we face the same situation: beginners’ books get too easy, and reading advanced books gets too hard. Therefore, It is perfect for those who are stuck in this situation. Let’s take an example: Now you know the meaning of book keeping, GAAP, and financial accounting. Unfortunately, you don’t know how to use those tools and how to apply the method. This solves this problem by showing the breakdown of each step of the solution.
They also impart knowledge of accounting software like Excel and GLS. One of the best books on finance and accounting.
I came up with a list of all these best books on finance and accounting after doing extensive research and I’ve studied some of them personally. while keeping in mind as much as factors such as occupation or experiences. After that, I did a significant amount of research and picked the best. These books are very well known and I’ve read a few of them. Now I would recommend these books as they are the best and have the potential to change your life upside down. Whether you want to learn financial accounting or understand financial statements.
I have also covered books for Investors who are keen on investing and the share market.
Good luck and Enjoy reading these books!