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John Tennent

The Economist Guide to Financial Management

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Managers are constantly expected to make decisions fully understanding the financial consequence. In the absence of formal training few people are prepared for the responsibilities of dealing with management reports, budgets and capital proposals, and find themselves embarrassed by their lack of understanding.

This book is a practical guide to understanding and managing financial responsibilities: 'how to assemble a budget', 'how to read variances on a report', 'how to construct a proposal to invest in new equipment'.

By taking the actual things that managers have to do, each chapter explores the range of principles that can be applied, illustrate practical ways the principles are used and provide guidance for implementation.

The book will help the reader understand financial jargon, financial statements, management accounts, performance measures, budgeting, costing, pricing, decision-making and investment appraisal. This second edition has been fully revised and expanded with detailed examples from around 100 leading businesses around the world.

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580 printed pages
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Quotes

  • Nick Voroninhas quoted9 years ago
    In an organisation financial acumen is a skill that will support any manager in their career. The skill is not about knowing the intricacies of transaction recording or the details of financial reporting; it is about having the ability to do six things:
  • Nick Voroninhas quoted9 years ago
    Seek ways to add value not cost – continually improve the performance of the products and services by adding customer value while eliminating cost and waste in their provision.
  • Nick Voroninhas quoted9 years ago
    Engage with the business strategy

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