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7 Good to Read Accounting Books for Filipino Accountants

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To be someone in life requires a lot of hard work and effort. Just like in becoming a Filipino accountant may it be local or overseas like in Dubai UAE, it requires lots of guts, studying, efforts and time. The road is not easy at it seems to be. Sometimes it is like a national highway where in all things go well, fast and smooth but for most people, the road is like the country sides, muddy, slow and rough. But if you will notice, all things start on same starting point – and that is studying.

Today I’ll share 7 good to read books in accountancy for you to become a Filipino accountant someday!


1. Accounting Principles

The book is written by Jerry J. Weygandt, Paul D. Kimmel and Donald E. Kieso. This address the issues that teachers and students of accounting have said are really important. These include student success, motivation, problem-solving skills, decision-making skills and technology to assist learning. Really good starting point for every accounting student!


2. Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports

Written by Howard M. Schilit, a must read for financial analysts and investors. Sir Schilit describes the most common accounting tricks that management may use to manipulate financial reports. It is full of real life examples. Some of the lessons you may learn on this book are as follows:

• Always be skeptical about any financial statements you read
• Conservatism is a virtue for management when preparing financial statements
• Look for material changes in statements for the different years

3. Accounting Game: Basic Accounting Fresh from the Lemonade Stand

The book written by Darell Mullis and Judith Orloff , presents financial information in a format that is so simple unlike the traditional accounting books. The book will help you to:

• Know the difference between accrual and accounting methods
• Create and understand an income statement and balance sheet
• Track inventory using LIFO and FIFO
• Create cash statements and understand cash flow and liquidity
• Apply your new knowledge to real-life situations

4. Managerial Accounting

This book written by Peter C. Brewer, Ray H. Garrison and Eric W. Noreen, identified the three functions managers must perform within their organizations – plan operations, control activities and make decisions. It also explains accounting information necessary for these functions, how to collect it and how to interpret it. The book focuses on mainly three qualities – relevance, balance and clarity.


5. Financial Accounting

Authored by Robert Libby, Patricia A. Libby and Daniel G. Short, deals with the subject of financial accounting. This presents the use of focus companies and the financial statements. Decision making is on focus to show the relevance of financial accounting regardless of whether or not students have chosen to major in accounting.

Uses real life cases, with every chapter centering on a brand-name company the students recognizes. Details revealed the depth of thought invested in making the material as compelling as possible.


6. Cost Accounting: A Managerial Emphasis

Book written by Charles T. Homgren, Srikant M. Datar and George Foster, defined the cost accounting market and continues to innovate today by consistently integrating the most current practice and theories. This is the number one market-leading book which embraces the theme of “different costs for different purposes”. It reaches beyond cost accounting procedures in considering concepts, analysis and management. Topics in every chapter cover the accountant’s role in the organization to performance measurement, compensation and multinational considerations.

This is best for students to enhance their understanding of and ability to solve cost accounting problems.


7. Accounting Made Simple: Accounting Explained in 100 Pages or Less

Written by Mike Piper, you can find all everything you must know in article, explained in plain-English with no technical jargon:

• The accounting equation and why it is so significant
• How to read and prepare financial statements
• How to calculate and interpret several different financial ratios
• The concepts and assumptions behind Generally Accepted Accounting Principles (GAAP)
• Preparing journal entries with debits and credits
• Cash method and accrual method 
• Inventory and Cost of Goods

Other related blogs:

How to be an Accountant

7 Steps to become a Filipino Accountant

4 Filipino Accountants Job Categories