Financial Intelligence

Financial Intelligence

A Manager's Guide to Knowing What the Numbers Really Mean

Book - 2006
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Companies expect managers to use financial data to allocate resources and run their departments. But many managers can't read a balance sheet, wouldn't recognize a liquidity ratio, and don't know how to calculate return on investment. Worse, they don't have any idea where the numbers come from or how reliable they really are. In Financial Intelligence, Karen Berman and Joe Knight teach the basics of finance--but with a twist. Financial reporting, they argue, is as much art as science. Because nobody can quantify everything, accountants always rely on estimates, assumptions, and judgment calls. Savvy managers need to know how those sources of possible bias can affect the financials and that sometimes the numbers can be challenged. While providing the foundation for a deep understanding of the financial side of business, the book also arms managers with practical strategies for improving their companies' performance--strategies, such as "managing the balance sheet," that are well understood by financial professionals but rarely shared with their nonfinancial colleagues. Accessible, jargon-free, and filled with entertaining stories of real companies, Financial Intelligence gives nonfinancial managers the financial knowledge and confidence for their everyday work. Karen Berman and Joe Knight are the owners of the Los Angeles-based Business Literacy Institute and have trained tens of thousands of managers at many leading organizations. Co-author John Case has written several popular books on management.
Publisher: Bosto, Mass. : Harvard Business School Press, [2006]
Copyright Date: ©2006
ISBN: 9781591397649
1591397642
Branch Call Number: 658.1511 B456
Characteristics: xiv, 257 pages : illustrations ; 25 cm
Additional Contributors: Knight, Joe 1963-
Case, John 1944-

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dirtbag1
May 15, 2018

Probably few think the subject of accounting is exciting. However, this book is not essentially about accounting but rather 'financial intelligence'. The central theme by the authors is that if every employee of companies large and small were to understand what the numbers the accountants and CFO's use in their daily activities, they would likely buy into their companies business model and strategy as opposed to being just a source of a paycheque. They feel if this were to be the case everybody would benefit. There are times when the eyes glaze over to be sure however due to simple number crunching and ratios and formulas but for the most part its kept simple. This book tells the 'why' of financial operations and can be important as a prelim to the accounting worlds 'how'.

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