The 10 Best Accounting Textbooks to Improve Your Financial Literacy

Playing with numbers is always fun but it can be difficult to keep track of large numbers. It is why a majority of businesses solely rely on professional bookkeepers and accountants to explain their financial statements to them. And although nothing can substitute the work of a financial expert, having a basic understanding of accounting concepts is beneficial not just for your company but also in life. This knowledge could probably get you out of your current debt, enable you to save more and make other smart financial decisions.

From managing household bills to corporate income statements, the best accounting textbooks can give you a foothold. Whether you want to become a certified public accountant or merely gain some knowledge on business accounting, getting a book from our selection will go a long way in helping you understand accounting.

 

Best-Accounting-TextbookWhat’s the Best Accounting Textbook?

The best accounting textbook is one that is not only meant for college students but also ordinary individuals looking to gain basic accounting skills. Such textbooks are able to break down accounting concepts for easy reading. The good thing is that some of these textbooks are tailored for novices while others are designed for professional accountants.

 

#1 Review of Essentials of Accounting 7th Edition

Review of Essentials of Accounting (7th Edition)...
4 Reviews
Review of Essentials of Accounting (7th Edition)...
  • Anthony Robert N. Pearlman Leslie K. Schwarzkopf David L.
  • Textbook Binding

This textbook is meant primarily for active users of business data rather than expert bookkeepers. It’s a self-study textbook that helps one gain a basic understanding of financial accounting through an interactive programmed method. This textbook presents you with ideas and accounting terminology, which helps you understand statements of financial position, income statements and statements of cash flows.

Each section has a problem that requires users to solve; this could be choosing the right word from multiple choices, creating a journal entry or making an entire balance sheet. This accounting textbook also features the latest developments.

 

#2 Accounting 27th Edition by Carl S. Warren

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Accounting
98 Reviews
Accounting
  • Carl S. Warren, James M. Reeve, Jonathan Duchac
  • Publisher: South-Western College Pub
  • Edition no. 27 (01/25/2017)

If you plan on becoming a successful business owner or entrepreneur, this accounting textbook by Carl S. Warren is a worthy investment. The chapters of this book have a ton of examples that help you relate its content to real company events. It also shows the latest announcements in accounting policies. This way, you can keep abreast with developments in lease accounting, international standards and more.

But what makes Accounting stand out from the crowd is the provision of Show-me-How videos. This feature is perfect for beginners who need a step-by-step guide on how to solve accounting problems. This accounting textbook even features trackable assignments and grades. This way, you’ll know the specific concepts that you’re having trouble with; hence, practice them more often.

 

#3 Century 21 Accounting: General Journal

Century 21 Accounting: General Journal
21 Reviews
Century 21 Accounting: General Journal
  • Publisher: Thomson Learning

C21 is an exceptional accounting textbook tailored to suit the interests and needs of the new generation high school and college students. It provides invaluable content presented both graphically and instructionally for easier understanding.

If you’ve always had a hard time grasping basic accounting concepts, this textbook will make them seem so much easier. It accomplishes this in four main ways. First off, it provides easy accessibility; each page is well structured to allow students to skim through. Secondly, the author highlights a ton of illustrations while also breaking down the content into small sections for easier comprehension.

Unlike other accounting textbooks, C21 does not just bombard you with complex accounting terminologies that leave you wondering whether they’ll have any future value. Instead, this textbook has stressed on certain career uses of the accounting information provided such as in financial reporting. Lastly, it offers excellent support for learners thanks to the updated working papers and solutions.

 

#4 Managerial Accounting by Braun & Tietz

Managerial Accounting
63 Reviews
Managerial Accounting
  • Braun & Tietz
  • Prentice Hall; 3rd edition 2013
  • Hardcover

For some, managerial accounting can be a difficult topic to understand. Put simply; this refers to the financial documents and reports designed to help firm owners in their decision-making processes. If you’re one of those having trouble with this concept, Managerial Accounting by Tietz is a book worth investing in.

This book teaches you how different financial concepts come into play when making business strategies. Tietz and Braun have provided a dozen problems, cases and applications, giving students the most up-to-date content in this area of accounting.

 

#5 Accounting Made Simple

This may not be the type of accounting book to blow the mind of a professional accountant, but it’s very helpful, especially so the group of people that are not so business-inclined. It’s ideal for lawyers, doctors, engineers and just about any other profession.

Accounting Made Simple provides all the basic tools that one would need to learn the accounting practice. And the best part is that it does not use technical jargon. Also, it oversimplifies the simplest financial concepts such as the accounting equation, how to read and prepare financial statements, interpreting financial ratios just to mention a few. Apart from the novice users, this accounting textbook is perfect for those looking to refresh accounting concepts quickly. This makes it useful to more advanced learners and financial experts.

 

#6 The Accounting Game

According to psychologists, the best way that humans learn is through playing. So, if you’re looking for an interesting and still informative accounting textbook, The Accounting Game is your best bet.

This accounting textbook is almost deceiving in its plainness- even its cover features animated pictures that would have you thinking that it’s meant for kids. As you read Darrell Mullis’ book, you’re likely to forget that you’re studying accounting concepts because of how simple it is. Like other textbooks in our review, this one provides step-by-step guides on how to implement accounting concepts in your firm. It employs a narrative structure that is not just fun but also enlightening.

 

#7 Intermediate Accounting 16th Edition

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Intermediate Accounting
553 Reviews
Intermediate Accounting
  • Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
  • Publisher: Wiley
  • Edition no. 16 (04/04/2016)

Intermediate accounting has never been easy. It encompasses a thorough study of the accounting theory and its conceptual framework. If you’re having trouble grasping this part of accounting, Donald Kieso’s text will be of great help.

The information provided helps those in university to overcome the hurdles they encounter on their path to becoming certified public accountants. Not only does this book cover the majority of questions in exams but it’s also a comprehensive book on its own. The only caveat is that it’s a bit bulky; it’s made up of 1500 pages. So if you’re looking for a quick read, it might not be the most suitable.

 

#8 Barron's Accounting Handbook 6th Edition

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Accounting Handbook (Barron's Accounting Handbook)
8 Reviews
Accounting Handbook (Barron's Accounting Handbook)
  • Jae K. Shim Ph.D., Joel G. Siegel Ph.D. CPA, Nick Dauber MS CPA, Anique A....
  • Publisher: Barron's Educational Series
  • Edition no. 6 (11/01/2014)

Barron’s Accounting Handbook mainly serves as a reference text for accounting experts. However, interested students and undergraduates can also use it. The most appealing feature of this book is the extensive dictionary of accounting terms. If you come across accounting jargon that you don’t understand, you can quickly look up its meaning in Barron’s Handbook.

Another plus of this book is that it’s incredibly lightweight weighing a measly 3 lbs. This makes it convenient to carry around. It also provides detailed summaries of generally accepted accounting principles (GAAP) and income fund reimbursable (IFR) accounting guidelines. Also, the preparation of tax forms is well explained in this textbook.

 

#9 Accounting All-in-One For Dummies

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Accounting All-in-One For Dummies (For Dummies...
82 Reviews
Accounting All-in-One For Dummies (For Dummies...
  • For Dummies
  • Kenneth W. Boyd, Lita Epstein, Mark P. Holtzman, Frimette Kass-Shraibman, Maire...
  • Publisher: For Dummies

This textbook has all the essential information, which is culled from the extensive For Dummies series of accounting, bookkeeping and auditing libraries. Ideally, this is one of the best accounting books for beginners. It enables them to understand basic financial concepts without having to scratch their heads too much.

It’s also a popular text among students taking accounting courses. Similarly, business owners use Accounting All-in-One For Dummies to stay up-to-date with accounting information. The way this book is designed makes it useful for novice and also professionals. It serves as a detailed guide explain basic issues like debits and credits while also explaining sophisticated concepts like amortization.

 

#10 Warren Buffett Accounting Book

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Warren Buffett Accounting Book: Reading Financial...
147 Reviews
Warren Buffett Accounting Book: Reading Financial...
  • Stig Brodersen, Preston Pysh
  • Publisher: Pylon Publishing
  • Edition no. 0 (04/28/2014)

This accounting textbook is one of three Warren Buffer’s favorite books of all time. It starts by explaining the fundamental analysis before moving onto pure accounting research. Warren Buffer Accounting Book is tailored to investors, who have just set foot in this industry. It enlightens them on the basics such as how to analyze the value of stocks.

Other things you will learn from this book include how to: calculate and interpret important ratios, read a balance sheet, interpret an income statement and understand a cash flow statement.

 

Why You Should Invest in Accounting Textbooks

Many think that accounting books are only meant for accountants and financial experts. The truth is, any one person can learn a lot from these books. You don’t need to be studying accounting or auditing so that you can buy such books. By investing in accounting books, you gain basic financial skills such as:

Budgeting

With these books, you will learn the best way to spend the dollars you earn every other month. One of the greatest problems that people encounter is lacking control of their incomes. Budgeting is an excellent way to keep track on your finances and lays a foundation for a brighter financial future.

Eliminating debt

Another liberating experience you get from reading accounting textbooks is how to stay debt free. These books provide recommendations on how to deal with debt snowballs and improve your financial status.

Investing for your future

Accounting textbooks also serve as guides on how to choose investment opportunities. They also highlight what to look for in a good investment company and the best way to diversify your investment.

 

The Bottom Line

Investing in an accounting textbook is the best way to improve efficiency and accuracy in your accounting work. The good thing about these books is that they are tailored for different levels: beginners, intermediate and advanced users. To determine the perfect accounting book for your needs, evaluate its ease of use, cover durability, size and paper color.

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