Accounting and finance for the nonfinancial executive

This book is directed toward the businessperson who must have financial and accounting knowledge but has not had formal training in finance or accounting perhaps a newly promoted middle manager or a marketing manager of a small company who must know some basic finance concepts. The entrepreneur or sole proprietor also needs this knowledge; he or she may have brilliant product ideas, but not the slightest idea about financing.

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The goal of the book is to provide a working knowledge of the fundamentals of finance and accounting that can be applied, regardless of the firm size, in the real world. It gives nonfinancial managers the understanding they need to function effectively with their colleagues in finance.

We show you the strategies for evaluating investment decisions such as return on investment analysis. You will see what you need to know, what to ask, which tools are important, what to look for, what to do, how to do it, and what to watch out for. You will find the book useful and easy to read. Many practical examples, illustrations, guidelines, measures, rules of thumb, graphs, diagrams, and tables are provided to aid comprehension of the subject matter.

This book is designed for nonfinancial executives in every functional area of responsibility in any type of industry. Whether you are in marketing, manufacturing,  personnel, operations research, economics, law, behavioral sciences, computers, personal finance, taxes, or engineering, you must have a basic knowledge of finance. Because your results will be measured in dollars and cents, you must understand the importance of these numbers so as to optimize results in both the short and long terms.

Knowledge of the content of this book will enable you to take on additional managerial responsibilities. You will be better equipped to prepare, appraise, evaluate, and approve plans to accomplish departmental objectives. You will be able to back up your recommendations with carefully prepared financial support as well as state your particular measure of performance. By learning how to think in terms of finance and accounting, you can intelligently express your ideas, whether they are based on marketing, production, personnel, or other concepts.