Whether you’re just starting out in Accounting, a seasoned professional or simply looking to expand your Finance knowledge to support your current role, reading widely is an important part of your development.
We know that your time is precious, and you don’t want to spend it reading something that’s of no use to you. So, to help you out we’ve hunted down these 5 books which we believe are worth the investment of your time.
Even if you only read one this year, you’ll have gained new insight and knowledge which will always stand you in good stead when you’re looking to impress colleagues, managers and future bosses!
#1 Basic Accounting by Nishat Azmat & Andy Lymer
This is the perfect text for you if you’ve got no prior accounting or bookkeeping knowledge but are keen to learn more.
It covers a range of accountancy topics and practices from double entry theory to year-end adjustments and everything in between. Each topic is explained in a clear and concise manner with examples and diagrams to help guide you along the way.
Get your copy from Waterstones.
#2 Financial Shenanigans (4th Edition) by Howard Schilit, Jeremy Perler & Yoni Englehart
This excellently titled book is currently celebrating it’s 25th anniversary and has been fully updated to include more of the most audacious financial frauds of the last quarter century.
Schilit, once nicknamed the ‘Sherlock Holmes of Accounting’, and his co-authors create case studies that delve into not only the infamous scandals (think Enron and Lehman Brothers), but also the lesser known almost every day financial embellishments taking place in accounts departments worldwide.
This is a great read for anyone specialising in forensic accounting as it highlights how to spot any exaggerations or outright frauds designed to fool investors. It’s also probably worth a read for anyone contemplating making investments in companies as it will encourage you to adopt a healthy degree of scepticism!
Pick up a copy at Amazon.
#3 The New CFOs by Liz Mellon, David C. Nagel, Robert Lippert & Nigel Slack
Traditionally, you only ever heard anything about an organisation’s CFO if it was to do with something bad. A CFO’s name only hit the headlines in the midst of a scandal - the rest of the time the finance team and their head would carry on diligently doing their work.
However, in the wake of the 2007/08 financial crisis CFOs have found their jobs and their departments have come under more scrutiny and interest from the outside world.
In ‘The New CFOs’, Mellon and her co-authors push the idea that the role of the CFO has huge potential to be a full leadership role rather than just a department head who’s good with numbers. This is the ultimate handbook whether you’re new to the role, looking to move into the role in the near future or are a long-time CFO looking to shake up their game.
Grab a copy at Amazon.
#4 Accounting for Managers by Paul M. Collier
This book is the perfect starting point for anyone in a management position who finds themselves being asked to deal with accounts and financial information when they don’t have a financial background.
It adopts a simpler language than most academic accountancy texts making it a much more accessible read for those who haven’t studied or don’t plan on studying an accounting qualification. If you enjoy a particular chapter and find yourself looking for further reading, each has references to academic reading that you can delve into for more detail.
The book has even been used to support training for managers from non-financial backgrounds, so you can be sure you’re getting straightforward, easy to digest information.
Grab your copy from Amazon.
#5 Management and Cost Accounting by Colin Drury
Anyone studying the AAT Advanced or Professional Diploma will be familiar with Management Accounting as it’s the subject of some of the core modules on these courses. This book is the perfect accompaniment for anyone preparing for the exams for these modules or looking for an accessible introduction into this particular field of accounting.
Drury is very clear in his explanation of the theories explored and provides solid practical examples to back this up.
It’s now in its 10th edition and has been continuously updated to reflect modern developments in the field. It even features a new chapter about the challenges which management accountants will face in the future.
Get a copy from Amazon.
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