Accounting Basics - Is this a good book?

In order to start learning finance, understanding accounting and balance sheets is important. Does anyone know if this is a good book?

http://www.amazon.com/Read-Financial-Report-John-…

Also, does anyone know of other books or textbooks (that aren't 50 billion pages long) that I could read? I basically want enough knowledge to understand a model by starting with this and then reading a finance book (probably a basic corporate finance college textbook).

 
Best Response

lui, I am doing WSP right now. I love it, but unfortunately without good understanding of accounting & finance it's useless. The program throws some important accounting terms w/o basic explanation.

Millhouse, you are freshman, if you start reading all those books now, you'll burn out by senior year. Go have fun, get drunk, and have sex with girls. Just make sure you keep your GPA around 4.0 and take Finance & Accounting classes. I mean wtf do your parents pay $20,000 or $40,000 a year for?

And instead of buying Rolex for $5,000, invest those money in Human Capital (GMAT, Wall Street Prep, DealMaven, CFA Level 1) or travel.

 

I am in my university's (liberal arts) Financial Accounting course and this simple book covers the bases well:

Accounting Principles I - CLIFFS QUICK REVIEW - by Elizabeth A Minbiole

Just take a course in accounting, it will probably go toward your concentration if it is econ or business, if accounting is not a requirement for it already

 

Yeah... I can really only answer this by telling you to take introductory accounting courses. What is your major that allowed you to get so far without knowing something this basic? I'm seriously curious, sorry if I sound condescending.

When a plumber from Hoboken tells you he has a good feeling about a reverse iron condor spread on the Japanese Yen, you really have no choice. If you don’t do it to him, somebody else surely will. -Eddie B.
 

If I had to guess, it would be because OP isn't in an econ(ish) major. Given the fact that he's at a top target (Harvard/Princeton etc), his/her school probably doesn't even offer many accounting courses (if at all). I'm in the same position - I've taken zero accounting/valuation/corp. finance courses. If you're at a top target, BB's don't really care if you've never done accounting/finance as long as you know your basic technicals, demonstrate interest in banking, and have a good GPA.

dollas
 

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When a plumber from Hoboken tells you he has a good feeling about a reverse iron condor spread on the Japanese Yen, you really have no choice. If you don’t do it to him, somebody else surely will. -Eddie B.

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