Hi good people. Can someone knowledgeable please suggest a good book I can read to understand Financial Accounting within the Kenyan context? I have zero training in accounting but I have read quite a bit online and have a fairly good grasp of accounting fundamentals. What I now want is to "localize" this knowledge with respect to things like taxation and legal requirements. I am looking to start a business next year and I want to be on top of things when I do. Plus I also want to get serious about my personal finance after about a year of freewheeling since getting my first job after university.

Why not just enrol for CPA classes? Don't do the exams if scared.

Thank you guys for your replies. I considered that exact option but decided against it. I don't want to do the exams because I do not see a reason to. I won't be looking for a job on the strength of my CPA or anything. Plus I find that I get along just fine, reading stuff on my own. Sometimes I actually find it better than sitting in a classroom. I have done it before and made a career out of it . In any case, I have seen people whose agenda was to do the exam and didn't want or weren't able to go to class so "wanajisomea". This is what I am looking to do, only without bothering with exams in the end. A good accounting book please...

PS: I hope none of you accountants out there thinks I am trivializing your profession. I am not trying to become a pro here. Just good enough to get along. And like I said, I have made my investment already by reading lots of online material. I am happy with where I have reached. My main goal now is to localize this knowledge.

I suggest Financial Accounting by Frank Wood (for objective reading) or Accounting Simplified By Saleemi (for CPA exam passing oriented reading). For taxation get an accountant coz there is no book that covers both VAT and Income tax

Milken is right in recommending Frank Wood. For tax, look out for N.T.T Simiyu's books.

Tax is very interesting especially when you want to understand it for application. Also get a copy of the Income Tax and VAT Act.