Learning basic accounting principles?

RicardoSmith

Need to get up to speed on accountancy principles for some work I'm doing for a business. Last time I looked at it was probably the Leaving Cert, quite a few years back. Hated it with a passion at the time. Now I just need to do it. Can anyone recomend any books, or sites that would be helpful and I can ask newbie questions?

Merrion

There's a load of standard textbooks.

For Ireland specific stuff, the institute of taxation in Ireland produce a number of books on the various taxes e.g. Income Tax by McAteer, Reddin & Deegan - ISBN 0-902565-79-6

sceptre

Some of Frank Wood's books are nothing short of excellent. Every basic accounting course seems to use them.

pork99

Can anyone recommend any websites with this sort of info?

pclancy

my local enterprise board gave me loads of (mostly free!) info on what basic accounts i needed to keep when i started and www.revenue.ie and www.basis.ie have some good info on procedures but not so much the actual methods of book keeping. Maybe ask an accountant or somebody for some advice on how to get started? The leaving cert text books for business and for accounting are also very good beleive it or not from any bookshop.

RicardoSmith

Are there no forums or anything?

pclancy

if there is i'd love to find them cos i could do with learning basic accounting meself! I have tried lookin but never really found anything decent.

Specky

If you're a small/micro enterprise and you feel there are areas of skill to do with actually running the business that you lack check out www.hotbedskillnet.com

This network provides a programme of one to one councilling on sales, marketing and strategic business development by top quality business consultants. As part of this programme you also get 3 half day sessions on whatever subjects you need (this could include basic accounting, some network members have actually done this quite recently). The complete programme of sessions is spread out over about 6 months but if you want you could take your specialist one to one sessions straight away or in a block or however you want.

The next group of network members is just starting now so if you joined up straight away you could hop in with the current group. Membership costs €1350 which gives you : 4 half day sessions on sales, 4 half day sessions on marketing, 4 half day sessions on strategic development and 3 half day sessions on whatever topics you need plus regular themed networking events....that's over a week of training for just over a grand (which is tax deductable as a training expense).

This network is funded under the Skillnets initiative for enterprise led development www.skillnets.com.

RicardoSmith

Interesting link which I've bookmarked. Not what I'm looking for though. I'm looking for more about specific accounting questions, as it relates to a solicitors business. The running of legal practise etc.

Merrion

Are there no forums or anything?

Accountants are like rods of uranium 237 - you really don't want to get more than two of them together in the one place ;-)

pclancy

Well said!! I find them strange people to be honest. I could never sit all day and look at other peoples money. Having said that it must be nice to know that whatever you're doing you're getting a nice wad of cash for it. I've paid more accountancy fees then i've paid myself in the last few months Ah well.

RicardoSmith

Originally posted by pclancy


Well said!! I find them strange people to be honest. I could never sit all day and look at other peoples money. Having said that it must be nice to know that whatever you're doing you're getting a nice wad of cash for it. I've paid more accountancy fees then i've paid myself in the last few months Ah well.

Yeah its pricey all right. Specially if its company accounts etc.

LoneGunM@n

Originally posted by Merrion
Accountants are like rods of uranium 237 - you really don't want to get more than two of them together in the one place ;-)

Oi ... I'm very upset by that comment ... why do we have such a bad rep? :rolleyes:

LoneGunM@n

Originally posted by pclancy
I find them strange people to be honest. I could never sit all day and look at other peoples money. Having said that it must be nice to know that whatever you're doing you're getting a nice wad of cash for it. I've paid more accountancy fees then i've paid myself in the last few months Ah well.

If you're paying more in accountancy fees than to yourself, you're going to the wrong accountant!! Plus it's your business so don't have an Ah Well attitude ... if you feel that you're being charged too much, get another accountant. I've found that alot of people frequent the big 4ccountancy firms because of the stigmatism attached. Always remember that you will more than likely get the same if not better services from a small accountant. Plus commuication/interactivity with them is often easier because there is seldom the level of layers of personnel that you'll find in the bigger firms [i.e. have to go through lots of swithes/secretaries before you get the person you want].

We only charge out for the work done [on an hourly basis] ... I've seen a lot of accountants that have a set charge for certain things [e.g. Accountant's Letter confirming salary and tax returns filed = €250.00 plus VAT at the low range of the scale].

sceptre

Originally posted by Merrion
Accountants are like rods of uranium 237 - you really don't want to get more than two of them together in the one place ;-)

Rubbish.

Put two accountants in one room and nothing exciting or interesting will ever happen.