Finance and Accounting for Nonfinancial Managers: All the Basics You Need to Know

Finance and Accounting for Nonfinancial Managers: All the Basics You Need to Know

Finance and Accounting for Nonfinancial Managers: All the Basics You Need to Know

Finance and Accounting for Nonfinancial Managers: All the Basics You Need to Know

Synopsis

In the current environment of cut-throat competition, razor-thin profit margins, and increasing scrutiny from stakeholders, mastering the fundamentals of financial management is a must for everyone with a stake in their companies and in their own professional futures. Packed with step-by-step examples and illustrative case studies, and updated to reflect the latest trends in the economy and in financial policy, Finance and Accounting for Nonfinancial Managers is a nuts-and-bolts guide for managers, entrepreneurs, seasoned executives, teachers, and students alike. Featuring new commentary on corporate accountability, updated interactive templates, study questions, and an online instructor's guide, this new edition covers all the key aspects of financial management.

Excerpt

This book originally was written over thirty years ago in response to the demand by successful business people for additional education in the areas of finance and accounting. Over the last three decades, the demand for financial education by students, lawyers, public policy makers, and individual investors has increased markedly, and this book has evolved to help fill that demand. As this sixth edition goes to press, the recent events in the global economy, including the worst stock market drop since the 1930s, the highest unemployment in nearly thirty years, and widespread disillusionment with Wall Street due in part to the unearthing of history’s largest Ponzi scheme perpetrated by Bernard Madoff, have made it more important than ever that nonfinancial executives, lawyers, public policy makers, individual investors, and citizens take the time to understand how corporations account for their financial operations and make (or at least should make) the financial decisions that affect us all.

While financial fraud and mismanagement garner headlines, it is important to remember that most corporations play by the rules. Those rules, including financial accounting rules, securities laws, and common law antifraud provisions, provide a framework for honest companies to account for and report their financial results to their investors and the public at large. This book is intended to provide readers with the fundamental skills needed to understand the rules of the game as played by the majority of those honest participants. The text is specifically designed to appeal to managers, students, and professionals who are relatively untrained in finance and feel the need to become better versed in order to enhance their business and managerial skills. Our experience in conducting executive-level seminars for this audience and interacting with business professionals without formal finance training suggests that the book will appeal to individuals in all types of organizations who currently work in various . . .

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