What to do for next week, Oct. 7

I have never met anyone like John Herman. I trust you enjoyed his visit as much as I did. He is an excellent resource and contact for all of you.

Next week we will start talking about basic business arithmetic. It's not as sexy as Monday's topic, for sure, but it's necessary for anyone who wants to start a business or even to understand how a business works. Every journalist should know this stuff, if only so he or she can report knowledgeably on the business world.

Our guest will be Joe Burke, the fool guy who bought my magazine a few years ago. We were delighted to sell Points East to Joe and his wife, Joanne (who teaches nutrition at UNH), because we knew that with 30 years in the high-tech industry he would run it as a disciplined business rather than a seat-of-the-pants hobby/excuse to spend lots of time on boats. The added bonus is that Joe and Joanne are super-nice people. Bio: Joe worked in operations and marketing capacities for several high tech companies for 30 years before finding his true calling as the publisher of Points East. B.A and M.A. from Boston College, M.B.A. from Babson.

To prepare you for Joe's visit, I have assembled a reading and study list for you. This is the simplest, kindest explanation of business accounting principles I could find. Please go through each one carefully and stick with it until you understand the concepts. If you don't, it will be very hard to follow Joe's presentation. This all comes from the Web site "Understanding accounting."
Feel free to read all the sections on this site, but again be sure to read and understand the following sections. We'll do a very quick quiz on some of the key concepts and terminology on Monday.

Glossary
Balance Sheets
Revenue and Expense
Bases of Accounting
Receivables and Payables
Fixed assets and depreciation
Statement Preparation
Goodwill

And don't forget your blog postings. The frustrations and challenges of understanding business accounting may provide some inspiration. You could also write about your reactions to John's visit.