What I Learned in Uncle Ian's Class

Topics: Management, Knowledge, If You Have to Ask Pages: 4 (1529 words) Published: April 10, 2013
What I have learned In Uncle Ian’s Class
This is my first term taking any business class here at LBCC. It has been a wonderful experience that has helped me in many ways. It has helped me understand and know the basics of business and how to use those skills. I have a small back ground with owning a business, but I have a lot of experience managing a business. These traits are few and far between qualities people have. But after this class I feel that I can further accomplish my goals I have set for myself in the future.

The first thing I use to think of when I thought of a business was money. Money is a huge part of a business in many ways. Money gets the operation going, working, and growing. Everything in this world runs on and revolves around money. When I think of starting a business, I think of debt and how it could consume you. And it almost scares me in a way that I may fail and won’t be able to get back on my feet. Lorene (Owner of Lorene’s café in Lebanon) states “Hell, who cares how much money you have to borrow, as long as you make your business all that it can be you’re headed in the right direction”. But when being an entrepreneur those things all seem scary but most of those things could easily be overcame with the right business establishment, accounting/book keeping skills, and management in my point of view.

The most important thing would be to manage your money and books in an effective and efficient way. I have learned the difference between book keeping and accounting and how different they are. Accounting is for collecting and analyzing financial information. Whereas book keeping is more of records of the business accounting transactions. It helps make sure that the accounting that is taking place is correct and accurate on every level of the business. I feel like this is one of the most important things a business can have. Making sure that all the money and paper work is in order will allow for a business to run at its maximum...
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