Growth and Profitability [Hardcover]

Michael C. Donegan (Author)

Book Description

ISBN-10: 0471212164 | ISBN-13: 978-0471212164 | Publication Date: August 15, 2002 | Edition: 1st

Praise for Growth and Profitability
"Finally, a book that fits me and my business! Growth and Profitability did what an army of consultants could not do. . . . demystify the finance and accounting aspect of my business. This is a must-read for anyone with a small business or for anyone planning to start one."
-- Mandana Sheybani
CEO and Founder
Timeless Carpets Co.
"This is not the typical long on the analysis and short on the practical application treatise on finance and accounting. Geared toward the novice business owner and those already experienced and informed, Growth and Profitability is provocative, lively, and informative. After reading how a customized finance strategy benefits the organization, business owners and finance professionals will be prepared to make key value judgments regarding finance structure clearly and with precision."
-- George Maso Jones, PhD
Director, International Press Information Agency
former WTO Agenda advisor and World Bank consultant
"Michael Donegan provides an insightful look at the strategic role of the finance function, from a two-person start-up company through a multimillion-dollar corporation. He has mapped out a straightforward process to build a world-class, IT-enabled strategic finance organization."
-- Tom Shea
President
UpStream Software
"Laying a solid foundation based on pertinent information is critical for success in today's dynamic marketplace. Achieving success requires companies to be nimble, harnessing data that is essential to decision-making. Michael Donegan provides a blueprint to building the financial infrastructure needed to drive growth and profitability in a measured and sustainable fashion."
-- Alex J. Abreu
Managing Director
Sr. Client Manager, Financial Strategies Group
Bank of America

Editorial Reviews

From the Inside Flap

The volume of books on finance and accounting available today embody a vast (and sometimes confusing) wilderness of complex theories and esoteric paradigms. For the typical small and emerging business owner, deciphering this body of information and knowledge can be a difficult task. Financial guru Michael Donegan offers a better alternative. Addressing the critical relationship between financial objectives and operational initiatives, he provides the conceptual framework for the small and emerging business owner to lay the foundation for a sound finance function-- one that not only suits current business needs but grows and evolves as the business changes. Growth and Profitability: Optimizing the Finance Function for Small and Emerging Businesses defines the finance function in layman's terms, cutting to the core of infrastructure and reporting needs.

Michael Donegan's working tour of the finance and accounting function succeeds in cultivating the mind- set necessary to create useful finance strategies for the novice and experienced small business owner. Donegan focuses on a pair of critical objectives: marrying the finance function to operations and creating a culture of decision-making that will endure for the life of the company. These objectives converge to cultivate a strategic, proactive approach to conceptualizing, developing, and maintaining a finance function that adds value to the enterprise. In laying the groundwork for sound financial strategies, he addresses the entire scope of the accounting and finance function, including:
* Gathering and interpreting financial transactions and events
* Creating and managing the financial infrastructure (technology and people)
* Translating the business to financial statements in a timely and accurate manner
* Translating financial data into business intelligence
* Communicating results to stakeholders while managing expectations

Growth and Profitability provides the tools to lay a relevant, scalable financial foundation quickly and cheaply, equipping the reader to preempt infrastructure issues before they become issues. Donegan further addresses the need to harness the flow of data in and out of the organization. He lays out a plan for developing a dynamic platform of fully integrated information systems and processes that will serve the growth needs of the small and emerging business regardless of its rate of expansion. In addition, he creates a methodology for defining and troubleshooting the data-flow dynamic, optimizing the speed and accuracy of the decision-making process.

Throughout Growth and Profitability, a clear emphasis is maintained on the practical application of concepts and their relevance to the business objectives of the small and emerging business owner. Donegan illustrates how tying the finance function to operations can extend the life of the business in the midst of challenging times, and ultimately buoy it into profitability and fiscal independence. He shows how successful finance strategies are born of integrity and sense rather than dollars and cents. Growth and Profitability provides the small and emerging business owner with the edge to navigate today's difficult, high-velocity business environment.

From the Back Cover

Praise for Growth and Profitability

"Finally, a book that fits me and my business! Growth and Profitability did what an army of consultants could not do. . . . demystify the finance and accounting aspect of my business. This is a must-read for anyone with a small business or for anyone planning to start one."
-- Mandana Sheybani
CEO and Founder
Timeless Carpets Co.

"This is not the typical long on the analysis and short on the practical application treatise on finance and accounting. Geared toward the novice business owner and those already experienced and informed, Growth and Profitability is provocative, lively, and informative. After reading how a customized finance strategy benefits the organization, business owners and finance professionals will be prepared to make key value judgments regarding finance structure clearly and with precision."
-- George Maso Jones, PhD
Director, International Press Information Agency
former WTO Agenda advisor and World Bank consultant

"Michael Donegan provides an insightful look at the strategic role of the finance function, from a two-person start-up company through a multimillion-dollar corporation. He has mapped out a straightforward process to build a world-class, IT-enabled strategic finance organization."
-- Tom Shea
President
UpStream Software

"Laying a solid foundation based on pertinent information is critical for success in today's dynamic marketplace. Achieving success requires companies to be nimble, harnessing data that is essential to decision-making. Michael Donegan provides a blueprint to building the financial infrastructure needed to drive growth and profitability in a measured and sustainable fashion."
-- Alex J. Abreu
Managing Director
Sr. Client Manager, Financial Strategies Group
Bank of America

See all Editorial Reviews

Product Details

• Hardcover: 224 pages
• Publisher: Wiley; 1st edition (August 15, 2002)
• Language: English
• ISBN-10: 0471212164
• ISBN-13: 978-0471212164
• Product Dimensions: 9.2 x 6.2 x 1 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #3,718,865 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

1 of 1 people found the following review helpful:

5.0 out of 5 stars Moral - sound financial records are so important, May 9, 2006

By 

Jeff Lippincott "JLIPPIN" (Princeton, NJ USA) - See all my reviews
(TOP 1000 REVIEWER)    (VINE VOICE)    (REAL NAME)   

This review is from: Growth and Profitability (Hardcover)

If you are a small business owner, or want to be one, this book will impress upon you the need for good financial records. You'll need them when creating your initial business plan, when putting out operational fires in the short term, and when doing strategic planning toward the future. You'll need them when you try to sell ownership interest in your company, borrow money, or when doing an IPO.

This book is about the uses for good financial records. The list is important, and it is long. Well written, it is a must read for entrepreneurs, managers, and leaders.

My favorite chapter was #3 (Why Strategize?). While there were other chapters that covered important subjects, this one cannot be stressed enough. Strategy is so often not given much weight in the scheme of things for a small business owner. Sure, most small business owners strategize to some extent. But they don't strategize enough. They don't consider all the options so they can truly choose the best one.

Get a copy of this book and you'll do a better job strategizing at your company if you read it.

1 of 1 people found the following review helpful:

5.0 out of 5 stars Insight beyond accounting...., October 28, 2004

By 

Book Reader - See all my reviews

This review is from: Growth and Profitability (Hardcover)

Not about debits/credits but understanding the strategic role of information within business. The first part of the book builds a basis for the insights made later with a detailed and methodical dissection of the functions comprising `finance' within the context of today's business environment. The second part provides an information needs assessment and how to meet those needs. Most interestingly - the book identifies information that should be necessary at different stages of the business life cycle. Applies in context of a small/emerging businesses or Fortune 100 company. Great resource for a college or graduate level accounting course for non-accountants because it provides the right detail with a strategic view.