Top positive review
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A MUST-READ FOR EVERY DECISION-MAKER WITHOUT EXPERTISE IN FINANCE.
on December 31, 2005
A MUST-READ FOR EVERY DECISION-MAKER WITHOUT EXPERTISE IN FINANCE
This book is MORE than a concise, highly readable, jargon-free introduction to the fundamentals of finance for nonfinancial managers. Beyond the basics, the authors enable readers to gain a solid understanding of financial intelligence which, in essence, consists of four skill sets that help the reader understand:
1) The basics of financial measurement
2) The art and science of finance
3) How to analyze the numbers in greater depth
4) How to view financial results in context
The authors also aim to enable nonfinancial managers to:
1) speak the language
2) ask questions to figure out the what, why and how of the numbers
3) use the information in doing their jobs and see their connection with financial performance
The book's eight major sections are:
1) the art of finance and why it matters
2) the (many) peculiarities of the income statement
3) the balance sheet reveals the most
4) cash is king
5) ratios: learning what the numbers are really telling you
6) how to calculate (and really understand) return on investment
7) applied financial intelligence: working capital management
8) creating a financially intelligent department (and organization).
Excellent illustrative stories are skillfully woven into the text. The writing is superb, making the book a pleasure to read.
This is, fundamentally, a first-rate course in finance. To create a stronger (MUCH stronger) company, CEOs would be well-advised to have every nonfinancial decision-maker read this book.