Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean
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Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean

3.9 13
by Karen Berman, Joe Knight, John Case
     
 

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ISBN-10: 1591397642

ISBN-13: 9781591397649

Pub. Date: 01/12/2006

Publisher: Harvard Business Review Press


Companies expect managers to use financial data to allocate resources and run their departments. But many managers can't read a balance sheet, wouldn't recognize a liquidity ratio, and don't know how to calculate return on investment. Worse, they don't have any idea where the numbers come from or how reliable they really are. In Financial Intelligence, Karen

Overview


Companies expect managers to use financial data to allocate resources and run their departments. But many managers can't read a balance sheet, wouldn't recognize a liquidity ratio, and don't know how to calculate return on investment. Worse, they don't have any idea where the numbers come from or how reliable they really are. In Financial Intelligence, Karen Berman and Joe Knight teach the basics of finance--but with a twist. Financial reporting, they argue, is as much art as science. Because nobody can quantify everything, accountants always rely on estimates, assumptions, and judgment calls. Savvy managers need to know how those sources of possible bias can affect the financials and that sometimes the numbers can be challenged. While providing the foundation for a deep understanding of the financial side of business, the book also arms managers with practical strategies for improving their companies' performance--strategies, such as "managing the balance sheet," that are well understood by financial professionals but rarely shared with their nonfinancial colleagues. Accessible, jargon-free, and filled with entertaining stories of real companies, Financial Intelligence gives nonfinancial managers the financial knowledge and confidence for their everyday work. Karen Berman and Joe Knight are the owners of the Los Angeles-based Business Literacy Institute and have trained tens of thousands of managers at many leading organizations. Co-author John Case has written several popular books on management.

Product Details

ISBN-13:
9781591397649
Publisher:
Harvard Business Review Press
Publication date:
01/12/2006
Pages:
257
Product dimensions:
6.46(w) x 9.32(h) x 1.00(d)

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Financial Intelligence 4 out of 5 based on 0 ratings. 14 reviews.
M_L_Gooch_SPHR More than 1 year ago
As a director of HR, I am continually surprised at the number of HR professionals that are disengaged from their company's profit and loss. A recent survey of business executives validated my personal observations about my chosen profession. According to this group, HR is often viewed as follows: 1. Neither Strategic nor Leaders 2. Resists Creativity 3. Enforces Silly rules 4. Impedes Change 5. Measured on Activities not $ Results 6. Henchmen for Top Management 7. Service Only This important book will help us to address numbers 1, 5 and 7. Having at least a basic sense of the financial arena will improve our integrity and respect in the eyes of upper management. Continually developing and implementing activities with no eye to the bottom line results in the current world-view of HR. I know that many within HR will disagree with me and that is fine. I realize there are pockets of excellence but as a general rule, we are still evolving. The authors have performed the heavy lifting for us by publishing this book. It is an excellent place to start laying the financial foundation upon which we can make good decisions and grow our human resources departments into results-based teams. Their book teaches us to ask intelligent questions and to challenge the data. Most importantly, it instructs us in the imperative world of ROI. ROI should be the hallmark of every HR organization. I hope you find this review helpful. Michael L. Gooch, SPHR - Author of Wingtips with Spurs: Cowboy Wisdom for Today's Business Leaders.
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