Although a natural love of building
inspires many carpenters to start their
own companies, it is a forced marriage
to bookkeeping and accounting that
allows them to grow. I've seen more
than a few excellent craftsmen bankrupted
by their inability to comprehend
financial statements. But anyone who
can figure excavation quantities on a
hillside site can easily calculate owner's
equity or return on investment. All it
takes is time and inclination, and
either of the following books.
Accounting and Financial Management
for Builders, Remodelers, and Developers,
published by NAHB and now in its
third edition, is the simplest and easiest-
to-read book on the subject I've
found in five years of teaching construction
accounting.
While the second edition seemed
more appropriate