Accounting majors who are serious about their careers will make it a point to surround themselves with great books. One of the marks of dedicated professionals is their affinity for great literature published in their chosen fields; reading is one of the most recommended methods of self-development and career advancement.
The professional field of accounting is similar to the legal and medical fields in relation to the need for continuing education and staying abreast of trends in research, policy and procedure. Here are five great books that accounting majors should add to their reading lists.
1. A Brief History of Economic Genius
Every professional in every field should be acquainted with the history of the careers they choose to practice. This book by Paul Strathern is one of the most accessible and interesting in terms of describing the how the intersection of math, business principles and philosophy have shaped the field of economics over the last few centuries.
2. Warren Buffett Accounting
Billionaire investor Warren Buffett is the undisputed master of value investing, a financial strategy that is best suited for accountants due to the type of research that it requires. Buffett’s style of investing starts with fundamental analysis before it moves on to pure accounting research. The careful evaluation of financial statements is handled by a small army of accountancy and finance professionals who work at Berkshire Hathaway, and this book by Stig Brodersen and Preston Pysh explains how companies are thoroughly analyzed before Buffett makes an investment decision.
3. Essentialism: The Disciplined Pursuit of Less
Accounting can often seem like a complicated field of practice, but it doesn’t have to be. This book by Greg McKeown can be found on the bookshelves of many successful CPAs; it is not explicitly written with accounting in mind but seems to be a favorite among finance and accounting professionals who take the entrepreneurial route. The author is a business strategist who advocates a philosophy of getting things done by focusing on simple tasks while ignoring distracting details.
4. The Bottom Line Is Betrayal
Great books for accounting professionals do not have to be boring, non-fiction tomes that only those interested in getting a degree or advancing their business should read. Katherine Taken Smith, Lawrence Murphy Smith and D. Larry Crumbley have created a series of novels that combine the classical elements of thrillers with actual details about the accountancy and finance professions. What makes these books so unique is their educational approach, which explains why they are often used by professors who teach international accounting classes.
5. The Tax and Legal Playbook
A substantial aspect of the accounting profession in the United States revolves around taxation. Mark J. Kohler realizes that taxes and accounting are intrinsic to each other, but he is also cautious in this advice to small business owners who often focus too much on taxation instead of planning for the financial future of their companies. Proficiency in tax planning and saving is a must for American accountants who wish to excel in their careers; to this effect, this book explains how accountants should approach small business taxation.
Accounting professionals should not be idle learners; they should make efforts to stay up-to-date with new literature pertaining to their careers. To this end, online tools such as the Amazon app can be helpful in finding the latest great books for accounting majors.