Financial Intelligence A Managers Guide To Knowing What The Numbers Really Mean Karen Berman

Essential for management & leaders to understand. First 8 chapters include too much justification for why the book is important. After that, the stories & examples are fascinating & informative. The founders and driving force behind the Foundry Group – a venture https://forexbitcoin.info/ capital firm focused on investing in early-stage information technology companies – Brad and Jason have been involved in hundreds of venture capital financings. Their investments range from small startups to large Series A venture financing rounds.

Financial Intelligence Revised Edition

Fantastic book on financial intelligence for non-financial managers. Should be a must read for any manager or MBA student. If you are just familiar with the most basics of accounting, you could understand all of the concepts of this book. So, you don’t need to be a savvy financial expert to be able to read this book. Just what I needed – this book is great read for those interested in how business is viewed through the financial perspective and a must read for someone like me, i.e. who didn’t have any business financial intelligence.

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People who work in finance acquire these skills early on, and for the rest of their careers are able to talk with one another in a specialized language that can sound like Greek to the uninitiated. Most senior executives either come out of finance or pick up the skills during their rise to the top, just because it’s tough to run a business unless you know what the financial folks are saying. Managers who don’t work in finance, however, too often have been out of luck. They never picked up the skills, and so in some ways they’ve been relegated to the sidelines. Yup, when i read financial statements I always cry, unless of course they are the financial statements of our local or federal government, then I just laugh at the abuse. I’ve read about 80 finance and investment books and this one is essential.

It is very easy to understand and full of insightful stories that will make the reading experience worthwhile. If you read the news regularly, you have learned a good deal in recent years about all the wonderful ways people find to cook their companies’ books.

Financial Intelligence Revised Edition

Factors such as the economy, the competitive environment, regulations, changing customer needs and expectations, and new technologies all affect how you should interpret numbers and make decisions. Financially intelligent managers are able to identify where the artful aspects of finance have been applied to the numbers, and they know how applying them differently might lead to different conclusions. Managers who are fi nancially intelligent understand the basics of fi nancial measurement. They can read an income statement, a balance sheet, and a cash fl ow statement.

Mary Buffett and David Clark clearly outline Warren Buffett’s strategies in a way that will appeal to newcomers and seasoned Buffettologists alike. Inspired by the seminal work of Buffett’s mentor, Benjamin Graham , this book presents Buffett’s interpretation of financial statements with anecdotes and quotes from the master investor himself. The fourth edition offers a level of rigor that is appropriate for both business and finance majors. Thomas R. Ittelson is an expert at translating complicated financial topics in an accessible way for non-financial audiences.

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Choose your country’s store to see books available for purchase. Since its release, Financial Intelligence has become a favorite among managers who need a guided tour through the numbers—helping them to understand not only what the numbers really mean, but also why they matter. A book about finance that will actually make you smarter. Millions of books are added to our site everyday forex analytics and when we find one that matches your search, we’ll send you an e-mail. Since its release in 2006, Financial Intelligence has become a favorite among managers who need a guided tour through the numbers–helping them to understand not only what the numbers really mean, but also why they matter. We offer a Price Match Guarantee, and QuickQuote form, to make purchasing quick and easy.

Financial Intelligence Revised Edition

I urge everyone who is running a business to read this. The insights here are very useful so one would understand why a business is taking a particular course of action . This book is carefully written with the non-financial person in mind. Whether you are an manager, a front-line employee, or just someone who wants to learn about business, you will surely get something that you can use right away from this book. This book by Karen Berman and Joe Knight is an excellent primer for any non-accountant managers who want to understand what the numbers really mean.

The book goes through three key components of Financial statement are Income statement, Balance Sheet and Cash Flow statement at non-financial perspective. It did a great job by blowing my mind, finance & accounting are not just only about numbers and facts but it is an art contains rational assumptions & estimates.

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In our training business, we work with many companies, including dozens in the Fortune 500, who see this as a necessary part of employee, manager, and leader education. We also gathered up feedback from the thousands of people around the world who read the book, and from our clients who used it in their training classes. Thanks to that feedback, we have added several new concepts, such as contribution margin, the impact of exchange rates on profitability, and economic value added . We discuss bookings and backlog, deferred revenue, and return on net assets, or RONA. We think you’ll fi nd the book more useful as a result. • A chapter that examines how the marketplace evaluates companies.

Financial Intelligence Revised Edition

Authors make the content interesting by highlighting many cases of financial shenanigans committed by various companies. By reading this, non-finance people will appreciate the machinations. And finance people will be able to relate to the rationale behind introducing various Accounting Standards on revenue recognition, leases etc. It also provides ZuluTrade Forex Broker Review interesting examples of companies most readers are familiar with such as Apple, Boeing, Hewlett-Packard although when explaining some technicalities, the authors use simple business model eg. I find this especially useful (and probably some finance folks will, too when explaining these terms/concepts to non-finance colleagues/friends).

Can You Guess Which First Edition Cover The Image Above Comes From?

They sequester some of their properties and debts in a mysterious place known as off balance sheet. Your job will be more fun, and your impact on the company’s performance will be greater. From our vantage point, we love to see employees, managers, and leaders who can see the link between fi nancial results and their job. Suddenly, they seem to have a better idea of why they are carrying out a particular set of tasks.

The fi nancial crisis, like other bubbles and meltdowns, provided new insights into which measures are most helpful in understanding a company’s fi nancial performance. Financial concepts don’t change much from one year to the next, or even from one decade to the next. The fundamental concepts and ideas we discussed in the fi rst edition of this book, published in 2006, are exactly the same in the current edition. But there are good reasons for presenting you with this revised and expanded version of the original text. Finally, although we teach fi nance, and although we think that everyone should understand the numbers side of business, we are equally fi rm in our belief that numbers can’t and don’t tell the whole story. A business’s fi nancial results must always be understood in context—that is, within the framework of the big picture.

  • The insights here are very useful so one would understand why a business is taking a particular course of action .
  • This book is carefully written with the non-financial person in mind.
  • This book by Karen Berman and Joe Knight is an excellent primer for any non-accountant managers who want to understand what the numbers really mean.
  • It is very easy to understand and full of insightful stories that will make the reading experience worthwhile.
  • Whether you are an manager, a front-line employee, or just someone who wants to learn about business, you will surely get something that you can use right away from this book.
  • I urge everyone who is running a business to read this.

Trust increases, turnover decreases, and financial results improve. It also addresses issues that have become even more important in recent years—including questions around the financial crisis and those around broader financial and accounting literacy. I started reading this book with practically no knowledge in neither accounting nor finance. But, I feel that the contents of the book are presented in such a way that even a person without in-depth knowledge of finance could understand it. Unfortunately, I feel that the provided explanations on some topics need further elaboration. Out of all the financial literacy for non-financial managers books I have ever read, this is by far the most user friendly and intuitive one I’ve come across.

Streetsmart Financial Basics For Nonprofit Managers, 4th Edition

A very accessible material for non-professionals and professionals alike. If you want to get an understanding of how the finance would have sounded like had it had a human face, read this. Goodreads helps you keep track of books you want to read. Accessible, jargon-free, and filled with entertaining stories of real companies, Financial Intelligence gives nonfinancial managers the confidence to understand the nuance beyond the numbers—to help bring everyday work to a new level. Finally, we added additional information about how to increase fi nancial intelligence throughout your company.

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