The Economist Guide to Financial Management

by tennent John

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.

Genres: Finance, Business, Nonfiction, Management, Economics, Personal Finance, Buisness

336 pages, Paperback

First published May 15, 2008

Reviews

[Paul.D.Howley · Rating 4 out of 5]

A comprehensive guide to all aspects of financial management and reporting, with clear examples, and structured into stand-alone chapters that can each be read in isolation.

It's quite heavy going, and probably best suited to someone who already has a partial (but incomplete) understanding of financial reporting.

It's also fairly jargon heavy (but does include a glossary), and dry in style. This would make it somewhat tedious to read cover to cover in one bout, but it is perfect as a reference book to dip in and out of whenever you encounter a concept or report you don't understand.

[Bernardo Marques · Rating 4 out of 5]

Very straightforward, clear and precise. Pragmatic while detailed.

[Henry · Rating 5 out of 5]

Second book I read from this series by The Economist. Again, a well structured book that provided a complete yet concise overview on a topic.

This book covers very well how large corporations function from a financial perspective. It gives a good understanding of what the different finance departments of a business cover and what are the financial, but also operational, levers that ultimately determine the performance of a company.

[Alice · Rating 4 out of 5]

Very informative. Heavy for someone who does not have an accounting background. Believe it would be a great tool for a classroom setting. Would prefer if there was a instructional or tutorial tape along with the book. Other than that, helpful in digging deeper for someone who may be starting investments / relations or a creative company.

[Cheyanne Lee · Rating 4 out of 5]

Just enough detail to cover the concepts, with simplified numbers to make digesting the material easier. A good introductory book (which is what it aimed to be), though for greater proficiency nothing beats actual practice on the job.

[John Kenworthy · Rating 5 out of 5]

Excellent primer on financial management

[Littlepudding · Rating 5 out of 5]

Another great book from 'The Economist'. This book nicely summaries my BComm degree.