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Accounting
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If
you don't understand accounting, don't try to run a business.
You can hire an accountant, bookkeeper or manager; but if
you don't know enough to keep them honest, you can loose
the store. Click here
to read a story where this literally happened to Warren's
dad.
Warren used to
teach eight levels of college accounting. He would start
advanced classes by bringing students up to speed with the
following discussion of his "Magic Trick" and
"Starting A New Business" illustration. There
is much more to accounting than this very brief discussion,
but this will be helpful if accounting sounds like a foreign
language.
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