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Understanding Finance: Expert Solutions to Everyday Challenges

Overview


Explains the essential concepts of finance--budgeting, forecasting, and planning--to managers who are not financial managers. "Understanding Finance" contains relevant information on how to: understand what the three basic financial statements and ratio analysis tell about a company's financial health; develop and track a budget; and assess an investment opportunity.
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Overview


Explains the essential concepts of finance--budgeting, forecasting, and planning--to managers who are not financial managers. "Understanding Finance" contains relevant information on how to: understand what the three basic financial statements and ratio analysis tell about a company's financial health; develop and track a budget; and assess an investment opportunity.
Read More Show Less

Product Details

  • ISBN-13: 9781422118832
  • Publisher: Harvard Business Review Press
  • Publication date: 9/24/2007
  • Series: Pocket Mentor
  • Pages: 112
  • Sales rank: 767,665
  • Product dimensions: 4.80 (w) x 6.70 (h) x 0.40 (d)

Table of Contents


Mentors' Message: Why Understand Finance?     ix
Understanding Finance: The Basics     1
Understanding Financial Statements     3
Accounting methods     5
The income statement     6
The balance sheet     9
The cash flow statement     12
Using Financial Statements to Measure Financial Health     15
Profitability ratios     17
Operating ratios     18
Liquidity ratios     19
Leverage ratios     20
Other ways to measure financial health     21
The Budget Process     25
Understanding top-down and bottom-up budgeting     27
Preparing a budget     29
Articulating your assumptions     31
Quantifying your assumptions     34
What Is Cost/Benefit Analysis?     39
Steps of cost/benefit analysis     41
Net return and payback period     43
Net present value and internal rate of return     45
Breakeven analysis     49
Sensitivity analysis     51
Estimating unquantifiable benefits and costs     53
Tracking Performance     55
Tracking the performance of an investment     56
Tracking your budget     58
Tips and Tools     61
Tools for Understanding Finance     63
Test Yourself     67
Answers to test questions     70
Key Terms     73
To Learn More     89
Sources for Understanding Finance     93
Notes     95
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