If you're just starting a business or own one, and you don't know what accrual accounting is, you are going to have a tough time. Accounting is the language of business.
"My CPA handles that anyway, I don't need to learn boring stuff."
The accountant doesn't create financial reports for you to hang it up on your wall. You need to be able to interpret them and make decisions.
If you do basic cash accounting where you substract the money you spend from the money you receive, then you are not getting an accurate picture of your business. Nobody does cash accounting anymore except small businesses. And if you want to grow beyond being a small business, you need to upgrade your perspective.
Don't let "accrual" accounting frighten you. The logic is incredibly simple. You aren't going to be memorizing complex formulas and doing math or anything. Accounting is a surprisingly subjective field. Despite the popular sentiment, it isn't really about numbers.
Read these books in order and you'll learn the fundamentals:
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