For all entrepreneurs and nonfinancial professionals with budget and/or P&L responsibilities, Finance and Accounting for Nonfinancial Managers provides the basics necessary to make a solid contribution to the financial goals and success of their companies. This indispensible and easy-to-read primer gives all entrepreneurs and managers in nonfinancial areas--sales, marketing, production, and more--a complete understanding of financial terms, statements, and ratios and how they affect the operations of a business or corporation. With this information, financial managers will be able to owners' equity, ratio analysis; balance sheets; income statements; LIFO liquidations; asset valuation; cash flow statements; capital leasing; liabilities; present value; operating leverage; breakeven analysis; and more. New to the third edition are chapters basic tax concepts; capital structure; business plans; working capital management and banking relationships; personal finances; and accountability and controls. This edition also comes with a CD-ROM with interactive Excel templates that lets managers immediately apply the concepts and techniques covered.
This book literally put me to sleep. Maybe if I had more of a background or interest in accounting, it wouldn't have been so bad. This was required reading for a conference I attended a couple of weeks ago.
I thought this book was very textbooky, and at times, over my head. I did like the key points and questions for review at the end of each chapter. However, I do wish the answers were available at the end of the book. The CD of example templates included with the book, was useful in the learning/reading process, however, all of these templates are already set up on Quickbooks.
This book seemed geared towards larger companies and manufacturers. I felt that only about 1/3 of the book was applicable to our small business!