Understanding the financial decision-making process is critical for today's successful manager. Yet, many managers do not have formal financial training or even know what their department's numbers mean. This practical guide specifies everything that an operating manager needs to know about how money flows in and out of the business. It covers accounting and finance, insurance, purchasing, contracts and budgeting. Featuring fundamental concepts, examples and illustrations, the book explains how readers can: improve their division's contribution to overhead; build a relationship with internal finance people in order to secure funding needed for capital improvements; and demonstrate the necessary money and asset management skills that should enable them to get promoted.
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