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Running a business > Accounting > Overview
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When it comes to accounting, business owners tend to fall somewhere between two extremes. On the one side are those who take on the role of accountant themselves and, on the other, accounting is either not done at all or it is outsourced to an accountant.
The ideal middle ground is populated by entrepreneurs who outsource their books to competent accountants, or they employ staff to run a tight accounting system. They make sure they understand exactly how accounting functions work, and demand accurate financial statements and spreadsheets from their accountants. They also use their books as powerful management tools.
If you are starting out small you can do your own books. There are computer packages that are very user-friendly, and using them is an ideal way to get familiar with accounting. If you start out with an outside accountant, you run the risk of not getting familiar with your accounting systems and financial statements. Work through books on accounting for laymen. There are many around.
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