When you are studying for your accounting degree, do some extracurricular reading as time permits. This keeps you engaged outside the classroom and provides important information for the future. Choose books that are relevant to your career as well as reasonably entertaining, such as the five important books for accountants listed below.
1. “Money: The Unauthorized Biography” by Felix Martin
Read about the history and social importance of money in this fascinating book by former World Bank official Felix Martin. Published in 2014, this work is recent enough to be influenced by the financial crisis of 2008. The author regards the subsequent shift in the way people view banking and Wall Street as a call to reform the economy. The book also provides thought-provoking insights into the very nature of money itself. Readers preparing for a career in accounting will find “Money” entertaining and useful too.
2. “Accounting Changes: Chronicles of Convergence, Crisis and Complexity in Financial Reporting” by Bob Herz
Memoirs of accountants are few and far between, probably for good reason, but this one by Bob Herz, former chairman of the Financial Accounting Standards Board (FASB), is a page-turner. While simply reading about his extensive experience is enough to get you hooked on “Accounting Changes,” Herz further captures your interest with anecdotes and insights. His by-the-book outlook is a boon to accounting students, providing professional standards for financial reporting that keep the industry on track. Endorsed by the American Institute of CPAs (AICPA), this is a must-read.
3. “Capital in the Twenty-First Century” by Thomas Piketty
A bestseller on the 2014 New York Times non-fiction list, “Capital in the Twenty-First Century” was also on Bill Gates’ must-read roster for the year. Thomas Piketty, a French economist, examines wealth and income distribution in the U.S. and the EU from the 1700s to the present day. His thesis, that the instability of the 21st century economy is the result of an uneven distribution of wealth, leads to his conclusion that the international community should institute a wealth tax. Furthermore, because capitalism concentrates the majority of wealth among a small minority, he contends that the system must be reformed.
4. “The Intentional Accountant: Your Roadmap to Building a Next Generation Accounting Firm” by Darren Root
If you are like many who aspire to a career in finance, you have a spark of entrepreneurial spirit. “The Intentional Accountant” nurtures that spark with practical advice for mapping out and systematically building a successful accounting firm. Author Darren Root is a recognized thought leader in accounting circles. In the book, he recounts his own career trajectory from bean counter to business leader. “The Intentional Accountant,” published in 2015, contains the information you need to achieve similar success as not only a CPA but also a CEO.
5. “101 Questions and Answers for Managing an Accounting Practice” by Ed Mendlowitz
The author of “101 Questions and Answers for Managing an Accounting Practice,” Ed Mendlowitz has hewn his authority in the accounting industry through decades of experience. He has written more than 16 books and developed a popular management framework known as the 30:30 Training Method. “101 Questions and Answers” is a collection of the most common questions you are likely to encounter in your own accounting career. It will help you solve an spectrum of problems ranging from non-paying clients to time management.
Related Resource: Top 20 Master of Accounting Online Degree Programs 2015
In a challenging academic program like accounting, doing your homework is essential to success. If you supplement your coursework with reading relevant to your future career, you are likely to achieve your goals more quickly and effectively.