Although written primarily for the middle management of a business firm, this handbook is equally useful for the senior executives belonging to the public or private sector or even Not for Profit Non-Governmental Organisations (NGOs). It is also meant for those who have read economics in their academic career but have forgotten the financial concepts and terms after they joined the service. As the business knowledge and experience are size neutral, those owning or working in SMEs will find it equally suitable and useful.
After thoroughly reading this book, you should be able to understand and if needed, can explain the meaning of finance, its importance for the stability and growth of a firm, the fundamental business finance concepts and the jargon used in financial analysis and decision making. Additionally, you will learn the three key financial statements and how to interpret and use the information to measure historical performance of your company to chart the future course of action.
Last but not the least it will help you in understanding the importance of budgeting process and the role of business finance in formulating and implementing competitive strategy as well as the fundamental nature of costs, gross margin and break-even and how common pricing methods affect gross margin and profit
Genre: BUSINESS & ECONOMICS / Accounting / Managerialnot yet ranked
Becoming a manager in any organisation, public, private or non-governmental, is an honour with perks, privileges and prestige attached but is also a big responsibility. Besides running the operations of the organisations on daily basis, you will be assuming different roles and performing multiple duties. Because of your unique position as the head of one or more operational units of the firm, you will not only become a bridge between the senior management and the workforce but also an internal consultant to the senior managers. They will look towards you to help them in making right decisions at the right time regarding the survival and growth of the entity.
Besides performing the above roles of a bridge, a consultant and a link in the hierarchy, you will be performing multifarious functions. One of them will be attending the corporate meetings where you will be expected to contribute meaningfully to the discussions invaluable inputs regarding the organisation's past performance, present position and its future prospects. Many crucial decisions will be made by the senior management on your advice during these meetings or on files. Needless to remind you, majority of these decisions will be relating to the finances of the firm.
One of the common mistakes general managers make is equating financial management with accounting particularly preparation of accounts. Even worse, they expect accountants to make financial decisions also. Nothing can be farther than the truth and more unfortunate. Preparation of the accounts is not the job of managers. It is a specialized job and better left to the accounts branch whose sole function is to record all financial transactions and to turn this data into structured, meaningful financial information i.e., a balance sheet, income statement, statement of owner's equity, and statement of cash flows etc., for using them in financial analysis and decision
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German
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Already translated.
Translated by John Wannecke
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Author review: John Wannecke translated my ebook "Finance for Non-finance Managers: A Handbook" into German. It is a very faithful translation and John strictly adhered to the timelines agreed upon. |
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Portuguese
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Already translated.
Translated by Gabriel Wilhelms
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Author review: Thank you Gabriel Wilhelms for the translation of my ebook "Finance for Non-finance Managers: A Handbook" into Portuguese. It is really a faithful translation of the original and executed well within the timelines agreed. Grateful. |
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Spanish
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Already translated.
Translated by Jose Saul Agis Garcia
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Author review: Saul Agis Garcia translated my ebook "Finance for No-finance Managers" into Spanish within agreed time. It is a faithful translation and to my entire satisfaction. His dedication to the assignment is highly appreciated. Regards. Shahid |
