Bøger af Timothy John Walshaw

This book describes a simple formula to estimate the economic rents earned by a company. Economic rents are the real profits hidden by the accounting system. Negative economic rents mean hidden losses - reject investing in those companies. High positive economic rents signify that the company is a good and safe investment.

The source of all wealth is enterprise. Enterprise is the action of the Entrepreneur to start a firm to produce and sell goods and services, and it is intended that the firm would operate under increasing returns to scale. The book is based fundamentally on the concept of increasing returns to scale. Increasing returns to scale is the source of profits. The economic theory of increasing returns to scale is discussed in detail, and this concept explains why enterprise and entrepreneurs operate through increasing returns to scale create wealth.

Double Entry Bookkeeping is an essential accounting skill that is not widely understood nowadays. In the past knowledge of Double Entry Bookkeeping was the basis of vast fortunes. Nowadays this knowledge can save you from being robbed without you knowing it. This book teaches you how to do Double Entry Bookkeeping from the very start until doing the Trial Balance at the end, and then goes on to show you how to use the Trial Balance to analyze how the firm is performing, what is its cash flow, and even the value of its Economic Rent. This book is simple to use, practical, and full of advice and anecdotes. Whether you a student or a businessperson, you will find the contents of this book invaluable.