Every woodworker knows that there are certain tools that are absolutely essential to finishing
a woodworking project. For a beginner however, the choices seem confusing and expensive. A few of the essential tools of a woodworking shop include a woodworking bench, preferably with a vice, a good portable saw, a portable table, saw horses for working on big projects, a place to store your tools, a place for nails and other fasteners and small parts, some clamps to hold together those projects requiring glue, a broom or vacuum for clean up, a few jigs and of course a hammer and probably a drill.
Some of these may not be obvious in the beginning, but it is best to have a clean up system in place for when you are finished working on the project. A broom or vacuum for sawdust and shavings will help keep your woodworking area clean and prevent fires. An extra table will give you more space to work. A vice will help you hold the wood while you are 
shaping or fastening some pieces today or even sanding.
Quality tools are expensive, but replacing tools that didn’t cost very much can become just as expensive in the long run not to mention that it is very frustrating to start working on a project only to have to stop to replace a tool. You may want to consider spending a little extra on the saw and drill to ensure that they last for a while. Quality hand tools are important for safety as well. Hammers should be secure and easy to hold to prevent injuries and ensure a quality finish on your project.
A beading bit is similar to a roundover bit (below) in that it applies a rounded shape to the edge of the stock. The difference between a beading bit and a roundover bit is that the beading bit also cuts a square shoulder on the top and bottom edges of the roundover. Beading bits often have a bearing tip for riding along the edge of the stock as it is cut.