Book Description
Essentials of Corporate Finance, 5/e by Ross, Westerfield, and Jordan is written to convey the most important concepts and principles of corporate finance at a level that is approachable for a wide audience. The authors retain their modern approach to finance, but have distilled the subject down to the essential topics in 18 chapters. They believe that understanding the “why” is just as important, if not more so, than understanding the “how,” especially in an introductory course. Three basic themes emerge as their central focus: 1. An emphasis on intuition—separate and explain the principles at work on a common sense, intuitive level before launching into specifics. Underlying ideas are discussed first in general terms, then followed by specific examples that illustrate in more concrete terms how a financial manager might proceed in a given situation. 2. A unified valuation approach—Net Present Value is treated as the basic concept underlying corporate finance. Every subject the authors cover is firmly rooted in valuation, and care is taken to explain how decisions have valuation effects. 3. A managerial focus—Students learn that financial management concerns management. The role of financial manager as decision maker is emphasized and they stress the need for managerial input and judgment.
Customer Reviews:
Great!.......2007-07-26
I think the book does a good job of simplifying finance for those of us who are beginners in the field. They give clear, step-by-step examples so that it is easy to understand
Finance Textbook.......2007-07-23
The textbook's price was competitive, it was delivered in a timely manner as promised and in mint condition as promised.
I enjoyed doing business with this supplier.
Not sure why someone rated it poorly.......2007-06-02
I'm an MBA student with quite a number of courses finished. I'm over half way through the finance course that uses this book and have found it to be written very well. The example problems are great, and the explanations are thorough. Our professor did make available the answers to the questions at the back of the book and used the powerpoints developed by the author. All in all the only drawback I could find was cost (as usual with college texts). As a side note, several students did use the 4th edition in our class with the permission of the instructor and did just fine.
Finance Textbook.......2007-02-11
The description of the textbook on the web was confusing and resulted in the buying the wrong book; but the return policy and credit correction worked very well;
Good for a textbook.......2007-01-03
I had to buy this book and use it for Finance class. It was helpful and used real world examples.
Book Description
Harvard Business Essentials
Your Guide and Mentor to Doing Business Effectively
Finance for Managers
Calculating and assessing the overall financial health of the business is an important part of any managerial position. From reading and deciphering financial statements, to understanding net present value, to calculating return on investment, this book provides the fundamentals of financial literacy. Easy to use and non-technical, this helpful guide gives managers the smart advice they need to increase their impact on financial planning, budgeting, and forecasting.
Customer Reviews:
Don't buy just for the pedigree.......2006-12-12
I bought this book for the Harvard pedigree when other books offer more practical detail for the target audience. The text concentrates too much on taxation, a subject unto itself, and calculation of the time value of money. In particular the TVM issue focuses on formula versus concept which is not a service to the audience. Overall, I expected more from a Harvard Business Essentials book.
Finance Book Review - Jameson Thottam (formerly with Morgan Stanley, Homestore and IndyMac Bank).......2005-09-10
This is an OKAY book,
My name is Jameson Thottam and as an individual steeped heavily in finance (graduated from UC Berkeley and attending Wharton's MBA and focused on financial services such as such as The Loan Page, IndyMac Bank, Homestore), I would give a qualified recommend on this book to those in finance. There are other books that take provide more details on mathematical programing and simulation software (i.e., Linear programming, Monte Carlo Simulations, CRYSTAL BALL / SEC II / @RISK software packages). Additionally, if you like market insider trading (i.e., technical analysis)...you can do much better.
Hope you enjoy,
Jameson Luke Thottam
(Job History: Battery Ventures/The Loan Page, IndyMac Bank, Homestore, Morgan Stanley Investment Banking, LEK Management Consulting)
Houston, Tx
Good place to start.......2005-09-02
Explains the basics, not so detailed that a novice can't follow it. If you're already a finance manager (as opposed to a manger without a finance background), I suggest something a little more advanced.
Nice Overview- Not so nice coverage.......2004-09-10
I bought this book to rehash some of the necessary and critical financial concepts learnt in school. Objective was to a. Make informed decision with knowledge of some finance terms (like top-line growth) B. Make more familiarity with the standard yet not so frequently used financial tools (like cash flow statement).
The book does reasonably well to fulfill these criterion with and optimal degree of satisfaction. Nice organization, one chapter flows onto next one and examples related to one business entity (fictitious yet realistic) run through. Numerical examples explaining the basic as well as relatively difficult financial concepts are easy to understand and make a good reading.
This trend continues pretty much throughout the book except in few chapters. I would actually point out two chapters where details and flow are not as lucid. The chapters explaining Internal Rate of Return (IRR) and Net Present Value (NPV) (Chapter 9: Time value of Money) and Budgeting process (Chapter 7: Budgeting) lacks the depth even at a conceptual level and does not help the reader to form a clear impression of the topics. I would say it in some cases it presents too less a detail (ex. definition and explanation of IRR) and it some cases it tries to present too much (Budgeting process/type and factors consideration)
Overall a good buy and definitely nice value for money!
Essential, Yes, and for Many, Invaluable.......2003-02-06
This one of the volumes in the new Harvard Business School Essentials Series. Each offers authoritative answers to the most important questions concerning its specific subject. The material in this book is drawn from a variety of sources which include William J. Bruns, Michael J. Roberts, and Robert S. Kaplan as well as Harvard Business School Publishing and Harvard ManageMentor®, an online service. Each volume is indeed "a highly practical resource for readers with all levels of experience" but I think those who have only recently embarked on a business career will derive the greatest benefit.
This volume explains the basic concepts of finance to managers who are not financial managers. As Richard Luecke notes in the Introduction, "Knowing how to finance assets, forecast future cash flows, maintain a budget, determine which operations are profit generators and which are not, and judge the real economic merits of different investment opportunities will help you stay in business and turn a profit." Samuel L. Hayes served as subject advisor to Luecke, writer of this and other books in the Harvard Business School Essentials Series and author or developer of more than 30 other books as well as several dozen articles.
There are ten chapters followed by an Appendix: Activity-Based Budgeting. (More about that material in a moment.) Each chapter is introduced by a list of "Key Topics" to be covered in it. For example, in Chapter 5, the focus is on start-up financing, financing current operations, financing growth, establish a proper match of assets with financing, and typical financing arrangements. Obviously, all of this material may seem basic (if not self-evident) to the experienced financial manager but keep in mind that the material was carefully selected for managers who are not financial managers.
One of the most informative discussions is provided in the Appendix when brief but sufficient attention is given to "Developing Cost Drivers" and more specifically to activity-based budgeting (ABB) and how it differs from activity-based costing (ABC). Less experienced non-financial managers are frequently asked to prepare a report which, more often than not, involves a budget or at least a cost analysis. A basic understanding of ABB and ABC will guide and assist the completion of that task. Whereas ABC starts with the cost of resources, allocates these costs to activities, and then allocates these costs to products and/of services, ABB starts with the planned product or service, estimated sales volume, and mix and comes up with the requisite activities to produce the mix and volume.
Financial managers as well as non-financial managers who supervise other non-financial managers should seriously consider providing copies of this book to those who currently do not understand "how to finance assets, forecast future cash flows, maintain a budget, determine which operations are profit generators and which are not, and judge the real economic merits of different investment opportunities" which will help [their organization] stay in business and turn a profit." Of course, younger executives need not wait for such provision. Published as a paperbound volume and priced attractively, Finance for Managers would be a modest investment for them to make in their own careers.
Book Description
Risk management is no longer confined solely to risk management specialists. Stakeholders ranging from employees to investors must understand how to quantify the tradeoffs of risk against the potential return. The failure to understand the essential nature of risk can have devastating consequences.
Globally renowned risk and corporate governance experts Michel Crouhy, Dan Galai, and Robert Mark have updated and streamlined their bestselling professional reference Risk Management to introduce you to the world of risk management without requiring you to know the intricate formulas and mathematical details.
The Essentials of Risk Management is the first book to make even the most sophisticated risk management approaches simultaneously accessible to both risk and non risk professionals. It will help you to:
- Increase the transparency of your risk management program to satisfy shareholders, employees, regulators, and other important constituencies
- Keep on top of the continuing evolution of best-practice risk policies and methodologies and associated risk infrastructures
- Implement and efficiently communicate an organization-wide Enterprise Risk Management (ERM) approach that encompasses market, credit, liquidity, operational, legal and regulatory, business, strategic and reputation risks
- Navigate thorny areas including risk policies, risk methodologies, economic capital, regulatory capital, performance measurement, asset-liability management, and more
- Efficiently allocate limited corporate resources to comply with the new generation of risk regulation and corporate governance regulation
As a non-risk professional or board member, you are being called on more than ever before to make sophisticated assessments of your organization's risk exposures as well as play a critical role in its formal risk management process. The Essentials of Risk Management tells you what you need to know to succeed in this challenging new environment.
Customer Reviews:
Good Introduction.......2007-08-01
I would highly recommend this book to the begginer/budding Risk Manager
For the experienced risk professional, this is a bit too fundamental.
An excellent introduction.......2006-07-11
This book provides an introduction to the field of risk management for readers who do not yet want to get deeply involved in the mathematical formalism that is typically used. The authors wrote the book so that it is "accessible to everyone", and they have done a fine job. Those readers who need a more quantitative treatment will have to consult another book or the vast research literature on the subject. Risk management, as they see it, is an attempt to estimate both the `expected' losses and the `unexpected' losses, and being able to differentiate between these two concepts goes to the core of the subject. Thus the book emphasizes the "intuition" behind risk management, and not the formalism. However, one must not conclude from this that "intuition" and "formalism" are distinct, and the belief that they are has resulted in a lot of confusion (and financial losses) in recent years. The authors clearly do not believe that they are, but have merely emphasized "intuition" from a pedagogical point of view.
The authors classify risk into eight categories, namely market, credit, liquidity, operational, legal and regulatory, business, strategic, and reputation risk. Financial risk, as they see it, is composed of two of these, namely market and credit risk. Their discussion of corporate risk management is very interesting, in that it begins with the observation first made almost forty years ago that the value of a firm is not altered solely by financial transactions. This is due to their assumption of the perfect market hypothesis, which effectively suppresses the ability of the firm to gain significant advantages over an individual investor. Therefore with this assumption a firm should not concern itself with risks outside of the ones that all other firms face. This is an interesting conclusion, particularly in the context of using hedging via derivatives, as it implies that it cannot compete with ordinary self-insurance, due to the presence of transaction costs. The authors discuss in fair detail why the perfect market assumption is faulty, and therefore why managing risk with hedging is a viable strategy.
The regulatory environment, particularly in the banking industry, has enormous ramifications for risk management, as the authors discuss in the book. This is due in part to the Basel Accords of 1988 and 1996, and Basel II which is due to be in place at the end of 2007. The Basel accords are essentially a standardization for capital reserves, defining a `assets-to-capital' multiple and a `risk-based capital' ratio. The authors review the 1988 Accord and discuss the elementary relationships involved, including the `Cooke ratio' and how to obtain the credit equivalent for the off-balance-sheet exposures. They also discuss the reasons for the 1996 amendment, which essentially were the result of the new trading activities that banks were indulging themselves in. It would have been interesting if the authors had included a (historical) discussion on the efficacy of the Basel Accords in suppressing banking failures. They do mention the fiasco with Barings Bank, claiming that its demise would have been adverted if it were prohibited from racking up huge exchange-traded futures positions. This is certainly true, but any regulation needs to be validated by historical data, to the extent that this is possible, and this requires of course tracking of the financial institutions that are under the umbrella of the regulation. In this regard though, the authors do view bank regulation as a `research lab' for risk management, implying that they are aware of the need for validation of any regulations that are actually put in place. It will be fascinating therefore to see the impact of the new Basel II accords when they become active, and indeed observe, if possible, any `regulatory arbitrage' that occurs. This also brings up the question of how to assess the quality of the risk management strategies of a particular financial institution. The authors spend a little time discussing this, with one of them referring to a method analogous to credit scoring.
No book on risk management could be complete without discussion of academic research on the topic, for the reason that much of this research has found practical application and has greatly influenced portfolio management and risk valuation. The authors review four theoretical models, namely modern portfolio theory, the capital asset pricing model, the Black-Scholes option-pricing model, and the Modigliani-Miller theory of corporate finance. Even though the discussions are very short, one has to admire the authors' ability to avoid complicated mathematics in discussing all of these theories without sacrificing clarity. The more mathematically-mature reader may perhaps be annoyed with the omission of mathematical formalism, but a natural question that might arise for such a reader is whether or not risk can indeed be put in a general axiomatic framework that will encompass all of its different manifestations, such as credit risk, operational risk, etc. Such a framework would allow a complete mathematical characterization of risk, and would allow various general and quantitative statements to be made about it.
Due to the extent of mortgage portfolios in the United States at the present time, and due to the sensitive dependence of their values on interest rates, the authors spend a fair amount of time discussing interest-rate risk and how to hedge it with derivatives. Thus they speak of the `sensitivity' of financial instruments to certain risk factors, and study the case of fixed-income products via the `DV01' risk measure, which is the change in value of a security after a change in interest rate of 1 basis point. This measure gives a `first-order' approximation to the change in yield, but the authors show how to obtain a `second-order' approximation using the `convexity' adjustment.
For complex portfolios, the most popular method for risk management has been the value-at-risk or VAR, and so it is not surprising that the authors devote an entire chapter to it in the book. The authors view it as a more sophisticated method because of its ability to deal with volatilities and correlations. However, they point out that its efficacy is restricted to relatively short time scales and under `normal' market conditions. The fiasco at LTCM (Long Term Capital Management) is discussed as an example of the failure of VAR to measure risk over long time scales and under abnormal market conditions. They do not however give any detailed evidence for this claim, but a perusal of the research literature (surprisingly rather slim) reveals that LTCM made "major" errors in terms of their risk management, if viewed from the standpoint of VAR. This still leaves open the question as to whether it made "major" errors from the standpoint of some other method for measuring and evaluating risk that is possibly radically different from VAR.
A Non-Mathematical Approach.......2006-04-19
The essense of investing is that increased risk should be compensated for by increased return. The problem lies in measuring and thus managing risk. Measuring risk is in the same category as predicting the future. The future is uncertain, the best guesses fail as bad weather, oil embargoes, or any of a whole list of other incidents change the situation.
Risk management isn't simply a matter of avoiding risk. It is instead a matter of identifying it, measuring it, appreciating its consequences and then taking actions accordingly. Insurance is perhaps the best example.
If a hundred sailing ships go out and 90 return, spreading the risk among all hundred ships compensates for the loss of the ten. And Lloyds is born.
During recent years several techniques have been developed to measure risk. This book discusses them in a non-mathematical way that can be used by both risk and non-risk professionals. In essence it brings sophisticated techniques to be accessible to a wide audience.
Book Description
Essentials of Managerial Finance is the classic that started the First in Finance franchise. Now in its Thirteenth Edition, this best-selling text is renowned for its excellent blend of theoretical and applied material, comprehensive support package, and applicable real-world examples. In addition to its continued coverage of such hot topics as multinational finance, ethical dilemma discussions are incorporated throughout the text. Formerly known as "Weston/Besley/Brigham", Scott Besley is now the primary author.
Customer Reviews:
Excelente conditions.......2006-11-11
I received the book in excelents conditions and on time.
For sure I will ask for another book in the future...
Not a paperback copy.......2005-10-03
I was very disappointed with what I purchased. It is not a paperback of the textbook "Essentials of Managerial Finance". It is simply copies of all the powerpoint slides with some lines next to them. Most classes provide that for free anyways. It's not even a workbook with examples and text. I am not sure what it is for; i guess note taking. Unfortunatly, for that I have notebook paper.
Maximizing shareholder value.......2003-07-12
I used this book for a 500-level MBA finance class, and I have to admit I liked it. The first 3/4's of the book drive home the financial manager's objective: Maximizing shareholder value. It does this consistently, and actually got me (A Sales Manager) to understand why profit needs to take a back seat to value.
Like all introductory texts, it skimps a little on complexity. However, I truly have an appreciation now for finance. Many decisions my company makes now make sense. Though I have little need to apply financial concepts in my current job, I can give better `business reason' explanations to my reports when they ask. Which is why I began pursuing an MBA in the first place.
Enough to avoid Finance mistakes.......2001-01-29
This new edition of the classical title looks very informative and meaningful. Perhaps a little bit more strong in the mathematical treatment will provide the customers with a text more atractive. Anyhow, it is still a good text for beginners.
Dr. Guillermo E. Martinez.
Excellant materials for the study of finance........1998-10-08
The book is fairly easy to understand. Students with little or no background in accounting were able to grasp the subject and understand the material. Thoroughly enjoyed using the text. Would have liked to see a web site available to use with the book. The test bank was effective and a time saver. I wholeheartedly recommend this book to anyone wishing to use up-to-date materials with which to teach the subject of finance. Can be used in both a regular semester and a condensed class.
Book Description
Mary Schaeffer is considered an industry expert and writes a newsletter that focuses on credit, collections, and accounts receivable.
* Provides an overview of the credit, collections, and accounts receivable functions for senior level managers.
* Provides tips and techniques as well as case studies.
* Shows how to stream line the credit process and how to make this area as efficient as possible.
Amazon.com
Chuck Kremer, Ron Rizzuto, and John F. Case believe "50 percent of small-company owners and managers don't get complete, timely information about their business's financial performance" and "90 percent don't really understand or use the information they do get." Kremer, a business-literacy consultant, Rizzuto, a university finance professor, and Case, a business journalist, further contend that such data and their proper application are critical to the successful operation of any small business. That's why they've assembled Managing by the Numbers as a self-help guide to the ins and outs of corporate finance. In the first section, they show how to decipher three major reports that everyone should review monthly (balance sheet, income statement, cash flow). In the second, they discuss how resultant figures tie in to "three bottom lines of business" (net profit, operating cash flow, return on assets) that can be examined collectively. And in the third, they explain ways that stimuli for each can be optimized to achieve overall business goals. The combination allows you to "translate your financial understanding into better financial performance," the authors conclude. While much of the material may seem intimidating, it is presented clearly and could indeed provide an edge in today's hypercompetitive business environment. --Howard Rothman
Book Description
Developed in partnership with Inc., a handy and practical guide to interpreting your company's financial statements to drive business growth and profitability
Everyone interested in building a stronger business needs to understand and use the information captured in financial statements. In Managing by the Numbers, business education and accounting experts Chuck Kremer and Ron Rizzuto team up with open-book management authority John Case to demystify the numbers. They present a practical, common-sense approach to reading financial statements and to managing the three bottom lines of business financial performance: net profit, operating cash flow, and return on assets. The book features numerous exercises and examples (with associated templates available on the Web), a powerful new management tool known as "The Financial Scoreboard," and an extensive glossary. Managing by the Numbers is an essential resource for entrepreneurs, business owners, managers, and anyone eager to improve their mastery of the financial side of running a business.
Customer Reviews:
I got this book free. I would've paid..........2006-12-21
10x the cover if I knew the value it'd bring.
I got this book as part of "Birthing of Giants". It's a three year retreat for entrepreneurs held for a week in the summer. You get a reading list and they are kind enough to send you books.
It sat in the box until Charles Kremer came to speak to our class. What he presented made the material so clear.
Before, I'd set barriers as to what was comfortable from a cash management point of view. My goals would actually cause pain when they'd be reached.
The relationships between balance sheet, income statement and cash statement are clear. "Beginning position" +/-non cash part of transaction +/- cash part of transaction = "Ending position"
Want to know the effect of retained earnings on the balance sheet or MSGA expense on the income statement or where the Interest expense paid should fall? Consult the "Magic Square".
Don't look at this book as a substitute for CPA knowledge but rather as a cheat-sheet for financial goal setting and cash management of a business.
A straightforward explanation of how the accounting jigsaw fits together.......2006-07-14
The book is well written with a non accounting audience in mind. A greater understanding of how accounting savvy people utilize the information within balance sheets, P&L's and cash flow statements can be achieved. An enjoyable and worthwhile read for those who want to try and get to grips with the irksome task of understanding their accountant, or even better to use the accounting information available to IMPROVE their business.
Easy to understand!.......2004-09-09
This was the first book that I've read that makes this type of material easy and interesting. Definitely, check this book out. I always recommend it to friends.
Tom Ehrenfeld's recommendation........2003-09-18
EXCERPTED From Chapter 3 (The Numbers That Count: Acknowledge the Rules), Page 72*
At the end of this chapter, I refer to several terrific books that delve into much greater detail of these aspects, and I highly recommend that you read them. At the bare minimum, you need to understand the basics.
Folks who speak the language of finance use three financial statements; the income statement, the balance sheet, and cash flow.
Each set of numbers tracks a different function. Each one is important for your business. (Note: I highly recommend the terrific book Managing by the Numbers by Chuck Kremer et. al.-see "Resources" at the end of the chapter.)
The balance sheet provides what experts call a "snapshot" of your business's financial condition at one particular point in time. Think of this statement as what your business owns and what it owes. This statement lists your assets (what the business owns or is due), your liabilities (what the business owes), and difference between assets and liabilities, which is called owner's equity. This sheet is constructed so that your assets minus your liabilities necessarily equal the owner's equity; thus, when it is produced correctly, the sums are balanced.
The income statement tracks your company's profitability over a given period of time. It says whether, in a specific period, you made money or didn't. But, and this is a huge but, it's an abstraction. It shows the promises that people have made to pay you money, and the agreements you have made to pay others. "It shows whether you're making money on the goods and services you provide, once you have taken all your costs and expenses into account. But it isn't real," write Kremer et al. It doesn't show how much cash you've put in you bank account or how much cash you spent." Income statements are subject to manipulation. Because income statements are subject to intangible factors such as depreciation (which tracks how an asset loses value over time), you can show a profit-or loss-that is not directly tied to your activities in that span of time. Moreover, income statements count promises that others have made to you as actual income, while the daily reality may be quite different. So these statements indicate profitability-which is good-but they don't necessarily reflect your daily, actual situation.
For that you have cash flow. Cash flow is, very simply, the difference between your cash receipts and your cash expenditures. It's what you have left after you spend the money that you take in. Consider this measure to be your business checkbook; what cash is actually coming into your business and what is actually being spent? There is no fudging cash. It's what you have on hand-the balance in your account.
EXCERPTED FROM Chapter 3 (The Numbers That Count: Resources), Page 93*
Managing the Numbers by Chuck Kremer and Ron Rizzuto with John Case (Perseus Publishing, Cambridge, Massachusetts, 2000)
This gem limns the theory and practice of financial management for small companies. Set aside the fact that some of the basics may apply to larger or slightly more mature companies than yours. Read this to understand how to use the financial life of your company as the basis for critical operational decisions. Kremer et al. show how you need to understand three financial statements (the balance sheet, the income statement, and cash flow) to truly evaluate your company's performance. Moreover, you really start to control this function when you learn how the three statements fit together.
*Tom Ehrenfeld, the startup garden (New York: McGraw-Hill, 2002).
Simple yet sound.......2002-09-11
If you don't have a business degree and as a business owner or potential business owner are looking for more knowledge on how to understand the books then get this book. If you do have a degree in Business then you need not spend your money here. Take the 14.95 you would pay for this book, invest it in a high yield stock or bond and wait 50 years and you may have about a thousand bucks or so.
Book Description
As a busy business manager, would you like to spend less time budgeting, and learn more from the budgeting you do? If you answer yes, then Budgeting à la Carte is the book for you.
Most books on budgeting advocate a comprehensive, "seven course dinner" budgeting system. But unless you're the CEO of a major corporation, this is too much informationâmaybe way too much. What you need instead is Budgeting à la Carte: a menu of budgeting options that allows you to pick and choose only those items that suit your taste, appetite, and business situation.
Explained in detail by bestselling financial author John A. Tracy, this comprehensive resource covers the full range of budgeting procedures, including:
- Income Statements
- Balance Sheets
- Operating Ratios
- Profitability
- Cash Flow
- Price and Volume Tradeoffs
- Cost Allocations
- Capital Investments
- And more . . .
Budgeting, Tracy shows, is not an end in itself. It's a set of tools you can use to maximize financial performance and position. With Budgeting à la Carte, you'll control the tools, and you can decide just how much and what kind of budgeting is right for your business.
Also by John A. Tracy
HOW TO READ A FINANCIAL REPORT For MANAGERS, ENTREPRENEURS, LENDERS, LAWYERS, AND INVESTORS
"[If] you would like to have a minimal understanding of the numbers that make up a balance sheet, income, and cash flow statement . . . then How to Read a Financial Report might be just what you are looking for. Mr. Tracy's book explains in plain English the meaning of the major terms used in financial statements . . ."âThe Wall Street Journal
Customer Reviews:
A useful book on management accounting.......2002-05-09
A concise yet very informative book for managers interested in running a business 'by the numbers'. It is written in a very practical and easy-to-understand manner. I utilize many of Tracy's ideas in my own job. The book deals not only with budgeting but with management reporting, break-even analysis, project anlysis, and accounting issues in both service and manufacturing enviroments.
Book Description
What works, why it works, and how to evaluate a shared services program
Shared services, a form of "internal outsourcing," enables corporations to achieve economies of scale by creating a separate entity within the company to perform specific internal services, such as payroll, accounts payable, travel and expense processing, etc. Essentials of Shared Services provides a quick, concise overview of shared services fundamentals, bringing senior-level executives up to speed so that they make the right decision. Bryan Bergeron provides a foundation of shared services from a historical, economic, technical, and customer perspective, showing how shared services can impact a corporation's bottom line, both long and short term. He delivers specific recommendations that can be used to establish and manage a shared services effort and includes a variety of examples of programs that work and those that do not.
Customer Reviews:
More of a Primer than a guide on How-To.......2006-05-14
Based on the editorial reviews I had high hopes for this book. However it is more of a primer discussing some of the issues that surround the topic of shared services than how-to. The really tough decisions involving shared services are how to evaluate the potential programs to take on, how to integrate and manage the portfolio across the functional silos (i.e., finance, HR, real estate, supply chain, and IT), how to govern the shared services organization, and how to balance customer satisfaction with cost efficiencies. Unfortunately this book is not helpful in dealing with these issues.
So if you are a newbie trying to find out what shared services is all about you may find this book helpful. But if you are a manager who has been charged with implimenting a shared services function, there isn't much help here.
Good overview of business models.......2003-11-07
I'm an MBA student and picked up this book to learn more about shared services. Turns out there's a lot to know. But what I came away with was a better appreciation for the varioius business models out there. The book does a good job of comparing and contrasting the various centralized and decentralized ways of conducting business in corporate america, using real-world companies as examples. In short, I was pleasantly surprised. It'll stay on my bookshelf.
Book Description
Outside of the accounting and finance departments, not many business people are interested in the finer points of financial reports. But every manager must have a thorough understanding of what their finance and accounting staffs do, why they do it, and what these reports really mean.
This indispensable book demystifies the role that accounting and finance play in a corporation and demonstrates how financial decisions are manifestations of company goals. The author's crystal-clear examples show how managers can connect corporate financial information directly to their own strategies and actions. To demonstrate these connections, the author covers such essential topics as:
* Balance sheets and income/cash flow statements * Reading and understanding annual reports * Fixed-cost and variable-cost issues * Financial analysis, budgeting and forecasting.
Customer Reviews:
If you want a basic intro ..........2007-05-02
If you are looking for a book to introduce you to the basics of business including the jargon behind the numbers and where all the formulas come from before you plow into a true "finance and accounting text," search for "Business Basics Bestseller 1" and add it to your consideration. If you have never had this stuff 'splained' to you before, you will like it. This is not a suggestion that you substitute it for this text, just that you check it out as well.
The Essentials of Finance and Accounting for Nonfinancial Managers.......2005-09-15
Book was well written and speaks directly to someone who has never worked with the finances of a corporation.
How to understand the basics of a balance sheet.......2002-08-08
Edward Fields' Essentials Of Finance And Accounting For Nonfinancial Managers tells how to understand the basics of a balance sheet, income statement, cash flow statement and annual reports. Newcomers to reading company financials will appreciate the clear explanations on investment returns, analysis ratios, and other methods of understanding business reports.
Book Description
Budgets are like road maps -- they provide a direction for a corporates financial management. Balance sheets and statements of revenues also provide insights into how well a company is following that direction. But cash flow and cash flow forecasts are what guide the day-to-day itinerary for an organization.
Budgets and cash flow are dynamic -- adjustments and changes can and should occur. If you understand what you are looking at, you can use cash flow to create better budgets and thus more accurate cash flow forecasting.
Cash Flow Forecasting outlines the techniques required to undertake a detailed analysis of the cash flow dynamics of the business from both a historical and forward looking perspective.
Cash Flow Forecasting explains how to:
* Determine appropriate cash flow figures from pro forma financial statements
* Interpret detailed cash flow forecasts and understand the difference between profit and cash flow
* Conserve or generate cash in the short term
* Evaluate different methods of project evaluation
* Recognize the limitations of accounting information in valuing companies
*Inspired by basic entry level training courses that have been developed by major international banks worldwide
* Will enable students and those already in the finance profession to gain an understanding of the basic information and principles of cash flow forecasting
* Includes questions with answers, study topics, practical "real world" examples and extensive bibliography
Books:
- Essentials of Statistics for the Behavioral Sciences
- Execution: The Discipline of Getting Things Done
- Financial Markets and Institutions (5th Edition) (Addison-Wesley Series in Finance)
- Financial Markets & Corporate Strategy
- Financial Modeling with Crystal Ball and Excel (Wiley Finance)
- Financial Reporting and Analysis (3rd Edition)
- FLIP: How to Find, Fix, and Sell Houses for Profit
- FLIP: How to Find, Fix, and Sell Houses for Profit
- Fundamentals of Building Construction: Materials and Methods
- Fundamentals of Multinational Finance (2nd Edition) (Eiteman Series)
Books Index
Books Home
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- Illustrated Dictionary of Historic Architecture
- Mega Solutions Manual For Introduction to Genetic Analysis
- Public Relations Practices: Managerial Case Studies and Problems
- On the Case with Lord Peter Wimsey: Three Complete Novels/Strong Poison/Have His Carcase/Unnatural D
- AIA Guide to New York City
- Landscape Architect's Portable Handbook
- Murder With Peacocks
Corporate Finance
| Finance
| Business & Investing
| Subjects
| Books
Marketing: Real People, Real Choices (5th Edition)
Operations Management & Student CD Package (8th Edition)
Marketing: The Core with Online Learning Center Premium Content Card
Student Problem Manual to accompany Essentials of Corporate Finance
Operations Management with Student DVD
