Customer Reviews

Growth and Profitability

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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.

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.