This book is an introduction to the world of financial management. The focus is to familiarize the nonfinancial manager with the important concepts and vocabulary involved with accounting and finance so that the business leader can develop an ability to ask the right questions, understand the response, and understand the finance and accounting tools that are used in business planning, reporting and strategizing.
All business managers, who are not financial experts, will benefit from the information in this book. This includes all engineers, marketing and sales personnel, and others who have moved up within their firm to the point at which they need more financial information to understand the financial picture, and move the business forward.
This fourth edition has changed substantially including many general updates, new and expanded chapters, a discussion of international accounting standards that may soon have a major impact on accounting in the United States, and a major restructuring of the order in which the material in the book is presented.
Prior editions of this work have been well received in the professional and academic market. It has been included in business CD collections, and is the basis for an on-line course in accounting and finance. It has been adopted by colleges and universities and has been the basis for a number of executive programs as well. It has also been valuable to a large number of individuals who comment on the value it brought to their business.
This edition includes Microsoft Excel templates that allow the reader to apply many of the concepts and techniques discussed. Instructors will be pleased with the addition of Questions for Review at the end of each chapter. The solutions to these questions and a set of power point slides are on the Instructor's Guide CD.