Business Fundamentals was developed by the Global Text Project, which is working to create open-content electronictextbooks that are freely available on the website http://globaltext.terry.uga.edu. Distribution is also possible viapaper, CD, DVD, and via this collaboration, through Connexions. The goal is to make textbooks available to the manywho cannot afford them. For more information on getting involved with the Global Text Project or Connexions email us atdrexel@uga.edu and dcwill@cnx.org.
Editor: Donald J McCubbrey (Daniels College of Business, University of Denver, USA)
Reviewer: Roger K Baer (CPA, LLC; and Former Partner, Arthur Andersen&Co., USA)
In this chapter, we will discuss the principles of accounting as well as some of the options you have for designing and installing an accounting system for your business. There are many computer-based accounting systemsavailable now, for relatively low cost, that make it easier for an entrepreneur to use software on a PC or the Internet to run an accounting system. We discuss some of the software options you may want to consider in [link] , “Leveraging with information technology”. Although it is possible to keep essential accounting records manually, orperhaps on a series of spreadsheets, you will find that it is much easier and more reliable to simply use accounting software from the beginning.
You may need the advice of an accounting professional to work with you in setting up your accounting records and helping you select and implement a suitable accounting package. On the other hand, you may be able to handlethe task yourself. In any event, starting your business with a well-designed accounting system tailored to the needs of your business will be worth the effort.