Top 14 Best Business Finance Books [Updated 2021]
Finance is all about accounting methodsAccounting MethodsAccounting methods define the set of rules and procedure that an organization must adhere to while recording the business revenue and expenditure. Cash accounting and accrual accounting are the two significant accounting methods., investment strategies, and managing debt. There are a number of business finance books available in the market. Below is the list of such books on Business Finance –
- The Millionaire Next Door: The Surprising Secrets of America’s Wealthy ( Get this book )
- Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence ( Get this book )
- The Alchemy of Finance ( Get this book )
- Found Money: Simple Strategies for Uncovering the Hidden Profit and Cash Flow in Your Business ( Get this book )
- How Finance Works: The HBR Guide to Thinking Smart about the Numbers ( Get this book )
- Financial Intelligence, Revised Edition: A Manager’s Guide to Knowing What the Numbers Really Mean ( Get this book )
- Visual Finance: The One Page Visual Model to Understand Financial Statements and Make Better Business Decisions ( Get this book )
- The Personal MBA: Master the Art of Business ( Get this book )
- Dictionary of Finance and Investment Terms (Barron’s Business Dictionaries) ( Get this book )
- Ultimate Spartan Budgeting and Minimalism: How to Save Money, Increase Productivity and Live Simply ( Get this book )
- Taxes for Small Businesses: QuickStart Beginner’s Guide to Understanding Taxes for Your Startup, Sole Proprietorship, and LLC ( Get this book )
- How to Start a Business: Startup Essentials- The Simple, Step-by-Step Guide to Successfully Start Your Own Business ( Get this book )
- Books: Habit of Successful and Wealthy Billionaires: How to Get from Where You Are to Where You Want to be ( Get this book )
- Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine ( Get this book )
Let us discuss each of the business finance books in detail along with its key takeaways and reviews.
#1 – The Millionaire Next Door: The Surprising Secrets of America’s Wealthy
by Thomas J. Stanley, William D. Danko
This book splits American society into two categories – Prodigious Accumulators of Wealth and Under Accumulators of Wealth. Throughout the book, the author compares these two categories of people.
The fact that this book is a national bestseller and has featured on the New York Times’ Best Sellers list for a long time speaks volumes for its content. In this book, you will find that the author speaks about the differences between the people who are actually wealthy and those who pretend to be wealthy. The message in the text is clear that if you want to become wealthy, you should do what the actual wealthy people do. One of the major pieces of advice in the book is that the actual wealthy people accumulate wealth by living well below their means and hence these people usually don’t look like millionaires. In short, you can become a millionaire if you can follow in their footsteps.
- The book gives an interesting overview of the best financial habits, such as living below what one can afford and prioritizing financial security over social standing.
- It is a long stream of well-compiled data that has been distilled into a finely tuned narrative.
#2 – Your Money or Your Life:
9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence
by Vicki Robin, Joe Dominguez, Money Mustache
This book not just focuses on the management of individual personal finance, such as investing, budgetingBudgetingBudgeting is a method used by businesses to make precise projections of revenues and expenditure for a future specific period of time while taking into account various internal and external factors prevailing at that time., saving, etc., but also speaks about our relationship with money.
The book starts by highlighting the typical lifestyle of common men like us, where we work for long hours, stress out ourselves, and there are instances where we are not even able to see our families for a long time. The underlying idea is that we lose out on some precious time with our loved ones as we hanker after money to maintain a luxurious lifestyle and have select material possessions. Finally, the author suggests that if we are not happy with this lifestyle, then we should probably shift to an alternate lifestyle where we reduce our expenses, increase our income, invest wisely, and retire early. So, the idea is very simple and yet brilliant – live on less and retire early.
- The book can be a powerful resource for people who are interested in becoming financially independent individuals.
- It is an easy read and provides many useful personal financial advice.
#3 – The Alchemy of Finance
by George Soros
The book provides you with a theoretical as well as a practical account of the current financial marketFinancial MarketThe term "financial market" refers to the marketplace where activities such as the creation and trading of various financial assets such as bonds, stocks, commodities, currencies, and derivatives take place. It provides a platform for sellers and buyers to interact and trade at a price determined by market forces. trends, while it also presents a new paradigm that can be used to decipher today’s financial market.
The book is one of the best in the business as it presents a revolutionary idea about the financial market which goes contrary to the common belief of efficient market theory. You don’t require any Ph.D. but an open mind to understand the powerful and game-changing ideas provided in this book. The fact that Soros, one of the greatest money managers of all time, is the author of the book is a good enough reason for you to read it if you are interested in the financial market. In short, the book admits that efficient market theoryEfficient Market TheoryThe efficient market hypothesis (EMH) states that the stock prices indicate all relevant information and are universally shared, making it impossible for investors to earn above-average returns consistently. Economist Eugene Fama gave the idea of the efficient market hypothesis in the 1960s. is a myth as fundamentally humans don’t act rationally while making an investment or any other decisions.
- The book offers you a peek at the mind and thought process of one of the most successful market speculators in history.
- You also get to learn many of Soros’ investment/trading methodology as well as some of his macro views.
#4 – Found Money
Simple Strategies for Uncovering the Hidden Profit and Cash Flow in Your Business
by James Montier
The book presents various strategies that small businesses can follow to achieve success. It helps business owners understand how to control their businesses to generate higher returns.
It is a must-read for business owners who seriously wish to transform their business into a money-making vehicle, which in turn will help the owners realize their dream lifestyle. This book helps us figure out whether or not our business is moving on the right track and if not, then how it can be corrected bring on-track. It provides us some straightforward and simple to use tools and techniques that help us identify the links between business operationsBusiness OperationsBusiness operations refer to all those activities that the employees undertake within an organizational setup daily to produce goods and services for accomplishing the company's goals like profit generation. and financial results. The text is highly engaging as the content is rich, accurate, and presented in the first person just like a drama.
- It can be used by small business owners to maximize the money that they make from the business by unearthing the hidden profits and cash flows.
- This is a fairly good and practical book that explains how to leverage the existing resources of a business.
#5 – How Finance Works
The HBR Guide to Thinking Smart about the Numbers
As the name clearly suggests, the book discusses the different financial concepts, such as understanding valuation, investment decisions, etc.
This is an extraordinary book and is easy to read as it avoids narrating long boring essays. If you are interested in understanding the various financial concepts, then this is the book for you. The author has taken an instructive approach as he walks us through the concepts in a well-coached environment. The explanations are perfect and easy-to-understand as they are often followed by a few short illustrations to ensure that the reader understands the subject matter. There is no doubt that the author did an excellent job to explain the dry and challenging financial topics in such a lucid manner. In short, the whole idea of the book is to make finance digestible for the people.
- This book presents the financial concepts in such a way that it is equally useful for beginners as well as experienced practitioners in the field.
- The narrative of the text is lucid and easy-to-understand
#6 – Financial Intelligence, Revised Edition
A Manager’s Guide to Knowing What the Numbers Really Mean
A Compulsory Reading for Global Decision Makers having no Financial Expertise
By Karen Berman
This best business finance book has made Financial Intelligence topics one of the hottest and most sought after the segment in the complete global financial markets. This has become a highly acclaimed heading among the world’s best managers who wish to take a guided walk through while discussing numbers. The support provided through the book in understanding numbers is not just what these numbers actually signify, but even why they hold so much significance.
Key Takeaways from This Top Business Finance Books
- Teaches the managers the fundamentals of finance for using financial informationUsing Financial InformationFinancial Information refers to the summarized data of monetary transactions that is helpful to investors in understanding company’s profitability, their assets, and growth prospects. Financial Data about individuals like past Months Bank Statement, Tax return receipts helps banks to understand customer’s credit quality, repayment capacity etc. to accelerate their business
- The book also discusses issues having acquired notable importance in latest years that includes questions related to the general accounting literacy, wider financial know-how, and the global financial crisis
- Written in simple language, highly accessible and without any jargons, the book is filled with pleasurable tales of actual companies
- The reading allows nonfinancial managers much-needed sureness to comprehend the complexity apart from the numbers for supporting in getting the daily work done properly
#7 – Visual Finance
The One Page Visual Model to Understand Financial Statements and Make Better Business Decisions –
The Real-life Application of Finance
By Georgi Tsvetanov
The best part of this business finance book is that the topic being discussed in the book “Visual Finance” is so easy to understand and apply that any new reader having no financial knowledge can even understand the concepts being explained in the book.
Key Takeaways from This Best Business Finance Book
- Visual Finance concepts are extremely simple and easily applicable in real-life situations. This model is continually being used across several “finance for non-financial managers” drill sessions in over 30 nations. For the very first time, this concept has been launched on paper for reading purposes
- This book presents accounting in an exciting and readable format so as to attract the attention of readers and to force him to go through the book in one go or come back again for another sitting with the book
- A single page visual model for comprehending financial statements while making sound business decisions is an attractive feature of this book
- This best business finance book also encourages its readers to start open discussions on financial topics in companies while strategically saving your firm from committing expensive mistakes along with starting to maximize all your valued opportunities
#8 – The Personal MBA: Master the Art of Business
Skipping Top Business Schools is the Key to Success
By Josh Kaufman
The Personal MBA provides only the highly valuable business teachings into easy, unforgettable rational models that are perfectly applicable in existing actual-world problems. The author’s impressive writing style has hugely attracted both the new MBA seekers and the already master’s degree holders. The book warns and prevents its readers from getting into assembly-line business models that just teaches about irrelevant financial models and PowerPoint presentations than what actually is required while running an actual business.
Key Takeaways from This Top Business Finance Book
- This top business finance book shares the necessities of systems design, productivity, operations, negotiation, sales, marketing, entrepreneurship, and several others, in a single digest volume
- The first concept described in the book is “The Iron Law of the Market” that explains why all businesses are controlled by their size and the market quality they attempt to attend and the technique of finding big, ambitious markets
- The second concept says ”The 12 Forms of Value” that illustrate the reality about services and products being the only two among a net of twelve means one may develop superior customer value
- The third concept illustrates “The Pricing Uncertainty Principle,” according to which every price is malleable. Increasing the prices is believed to be the most acclaimed way of significantly expanding profitability if one understands the technique of supporting your price increases
- The fourth concept depicts “4 Methods to Increase Revenue,” which says that there are just four key techniques any business may attract money
#9 – Dictionary of Finance and Investment Terms
(Barron’s Business Dictionaries)
A Thorough and Valuable Dictionary for Private Investors, Financial Professionals, or Business Students
By John Downes
The financial dictionary for investors would allow them to simplify the usage of finance jargon while encouraging them to use simple language in explaining even the most complex business situation.
Key Takeaways from This Best Business Finance Book
- This business finance book contains over 5,000 terms linked to tax laws, banking, mutual fundsMutual FundsA mutual fund is an investment fund that investors professionally manage by pooling money from multiple investors to initiate investment in securities individually held to provide greater diversification, long term gains and lower level of risks., bonds, stocks, and deals across several global financial markets depicted in alphabetical order along with descriptions
- The innovative ninth edition of this book contains the latest notable changes in credit, equities, and various other financial alterations along with the recent financial regulations
- Readers would necessarily find a series of acronyms and financial abbreviations coupled with charts and illustrative diagrams
- A comprehensive, updated, and sound dictionary for private investors, financial professionals, or business students
#10 – Ultimate Spartan Budgeting and Minimalism
How to Save Money, Increase Productivity and Live Simply
The Greek’s Master Plan for Expanding Productivity While Saving Money
By Cyrus Kirkpatrick
This business finance book is for all those readers who wish to preserve money but are not confident enough with the commonly available techniques. The scripture provides already proved ancient Greek methods of making and saving money. It devises methods of minimizing any wasteful efforts while focusing completely on satisfying one’s “Business Development Plan,” whether it comprises of roaming the globe or minimizing debt.
Key Takeaways from This Top Business Finance Books
- Get to know the real principles and history of the early Spartans, and how did they become so operative
- Know about the ways of liquidating your assets and learn fast the techniques of saving money
- Begin prioritization of your expenditures and bills
- Ways of saving money despite being burdened with debt and earning minimal wages
- Explains the method of cooking like a Spartan while significantly minimizing the meal expenditures
- Minimalist and Spartan business ideals that can convert your firm to a hugely profit-making entity
- Techniques for expanding productivity and quickly learning skills
- The reader would discover answers to several questions, including, Why Sparta? How to consider inventory? How to process liquidation? What are the techniques for minimizing monthly bills? How to prioritize your bills? What are Spartan’s Habits and Lifestyle? How to Maintain a Daily Routine? Getting to know about the types of training, How to master your fear? What is a Spartan Diet? Developing one’s Spartan Basic Meal and learning about Spartan’s Core Business Principles
#11 – Taxes for Small Businesses
QuickStart Beginner’s Guide to Understanding Taxes for Your Startup, Sole Proprietorship, and LLC
The Complete Tax Guide for Small Businesses
By Mike Nelson
The reading is for anyone who is planning to start a business; however, is confused about taxes. Any person was already having a business while requiring the impacts of taxation when having employees compared to when outsourcing to independent workers. This book can be used by any business owner who is confused about depreciation and needs to know the way of using it for one’s tax benefit. The appropriate accounting softwareAccounting SoftwareWave Accounting Software, Akaunting Software, Slick Pie Accounting Software, GnuCash Accounting Software, xTuplePostBoks Accounting Software, Inv24 Accounting and Inventory Software, and NCH Express Accounts Accounting Software are among the best accounting softwares available. that needs to be deployed for running your type of business can also be found in the book. Proper advice on whether you must do all your tax calculations by yourself or whether you need to hire an accountant can be understood from this reading.
Key Takeaways from This Best Business Finance Books
- This best business finance book contains lengthy depreciation issues and the way of enhancing that like a tax-deductible expenditure
- The reader would benefit from strategic techniques given in the book for uniquely managing one’s small company’s payroll tax payments that already employs some workforce to run the business
- Through the book, one must learn the technique of managing their minor business taxation
- The technique of improving your business’s rank listed under the IRS authority
- Ways of profit maximization
- Identify the most suitable business structureBusiness StructureBusiness structure is the legal framework adopted by a company to execute business activities in compliance with the corporate rules and regulations. An organization can be a sole proprietorship, partnership, limited liability company or corporation. for you
- Determine the impact of choosing the business structure on your taxes
- Ways of planning your taxPlanning Your TaxTax planning is the process of minimizing the tax liability by making the best use of all available deductions, allowances, rebates, thresholds, and so on as permitted by income tax laws and rules imposed by a country's government. It contributes to better cash flow and liquidity management for taxpayers, as well as better retirement plans and investment opportunities. management
- Various tax types that your business needs to pay
- Explains how the choice of accounting techniques impact your taxation policies
- Is hiring a professional crucial?
- The fundamentals of calculating the income tax returns for your business
#12 – How to Start a Business: Startup Essentials
The Simple, Step-by-Step Guide to Successfully Start Your Own Business
Techniques of Starting Your Business from Scratch
By Rachael L. Thompson
Any beginner willing to start a new business must first read this book as it contains even the smallest details about beginning any new trade, either it could be a shop, home-based business, retail, or online trade.
Best Takeaways from This Top Business Finance Book
- The Beneficiaries from this business finance Book – All those dreaming of starting their own business but experience overwhelming while starting one, those having a plan and wish to undergo practical application upon that idea, anyone needing a simple stepwise breakdown for starting a business, those who don’t possess detailed business know-how and finally, for a layman who dreams of beginning a business, however, has no idea about doing so.
- Learnings – The reader would learn: a.) The technique of developing a lucrative idea b.) The actual situation about beginning a business presently c.) Resources and ways to identify competition and business ideals d.) Provides information about business structures while supporting you in selecting the best structure for you e.) Identifies ways of working with employees, accountants, lawyers, and other key professional f.) Easy breakdown of taxes g.) Financial planningFinancial PlanningFinancial planning is a structured approach to understanding your current and future financial goals and then taking the necessary measures to accomplish them. Because this does not begin and end in a specific time frame, it is referred to as an ongoing process. procedure h.) Ways of funding your business i.) Best way to brand and market your business j.) Ways of developing a business idea.
- Unique Characteristics of This top business finance Book –
- Employ easy, solid language and instances to simplify tough ideologies
- Provides a summary of different business types and supports you in identifying the exact match
- Provides readers with proper techniques to win rather than merely stating facts
#13 – Books: Habit of Successful and Wealthy Billionaires
How to Get from Where You Are to Where You Want to be
The Surest Ways to Succeed in Life
By Michael B. Endwell
This inspiring piece of literature has all the innovative ways and plans to make you achieve success in life. Although the word “Success” is a relative term still, the book gives you ample ideas to stay clam while devising strategies to earn money and capture higher positions in any organization.
Best Takeaways from this Business Finance Books
- Offers informative and key success strategies for the ambitious reader
- One would learn superior plans to achieve unusual success, that would remove all the lie and myth about professional and personal success
- The eager reader would discover the ways of getting motivated and staying motivated
- Provides ways of approaching your dreams and objectives
- Teaches you how to cope with limited time efficiently
- Techniques to surely win
- Methods for inculcating a positive mindset
- Offers tricks to remain focused on your key objectives
#14 – Profit First
Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
Ways of Achieving Instant Profitability from Your Business
By Mike Michalowicz
The writer in this book has employed a behavioral tactic on accounting to alter the well-known equation: Sales – Expenses = Profit. However, business is controlled by humans, while several times, they fail to be logical. Therefore, the author here simply considers profit initially and allocating just what is residual for expenditures. Through the book, the entrepreneurs are expected to change their businesses to lucrative cash cowsCash CowsA cash cow is a company or a business unit that provides a consistent cash flow stream by capturing significant market share and requires a relatively lower capital investment and maintenance cost. In addition, products generated are standard and have consistent demand with higher returns at a lower risk. from being just cash-consuming monsters.
Best Takeaways from This Top Business Finance Books
- The authors believe in an ideology that any small, profit-making business has the potential to achieve significantly more compared to a big business running through all the revenue earned
- Businesses being capable of achieving timely and continued profitability stand a better chance of gaining long-term expansion
- The book is equipped with interesting and practical case studies that are hugely beneficial for the budding entrepreneurs
- The simplified writing style would greatly attract the reader’s attention while encouraging him to read the entire book at one go
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