A Manager's Guide to Knowing What the Numbers Really Mean

A Manager's Guide to Knowing What the Numbers Really Mean

Understanding the Financials and What Lies Behind Them Managers in every business are expected to use financial data to make decisions, allocate resources, and budget expenses. But the truth is, many are uncomfortable applying the most basic financial tools in their day-to-day work.

I am a non-financial SVP in a large credit union. This book helps me understand what the CFO is talking about. I can even add my two-cents to the ALM discussion. My contribution to the organization will never be financial brilliance but in the financial services world I need the back ground this book provides. Its clear, well organized, and right on point. I hope that all of my non-financial managers will read it.

What I particularly liked about this book was how the author revealed that knowing the basics of finance is just a start. What is often NOT covered is how to deal with the areas that can't be so easily quanitifed -and, when push comes to shove, have to be estimated and/or assumed.

In short, there is a certain amount of judgment that goes into many income statements and balance sheets. Author Joe Knight gives valuable tips on recognizing and understanding potential biases in financial information and advises readers how to correct for themor even challenge them.

Those who know the basics will find a lot they've read before but KNOWING the basics is not the same as having true financial literacy, the kind that makes the difference between knowing what is on paper and being able to "read between the lines."

Nonfinancial managers will gain a new understanding of how to build their company's success, with solid financials.

What I particularly liked were the real stories from actual companies, proving that this book is not mere theory but actual, tested information. It is also written in a very, very accessible style.

I've worked within the organizational structure of large corporations for years as a middle manager and reviewed reams of financial reports. Since my educational background leans more towards liberal arts than mathematical, I've always truyen cuoi hay nhat relied upon the expertise of financial professionals to make sense of the various ways the corporation has sliced and diced its financial data. As the conclusions drawn from the financial reports were generally used to evaluate my performanceor the performance of my staffI was often left arguing with the accountants over assumptions used in the financial methodology.

Unfortunately, the playing field was not level and it generally ended in frustration on my part. Now I have leveled the playing field. After reading this book, I have a deeper understanding of the assumptions underlying the financial reports used in my company. I also have a greater knowledge base to draw from when suggesting revisions to the data analysis or spreadsheet methodology promoted by the accounting department.

I have read a few financial books throughout my career and they generally have served as a great nonpharmaceutical sleep aid. This book is different. It is written in a clear, concise style that uses common examples to provide context to the financial statements and principles being explained

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