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Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean
Financial Intelligence A Manager's Guide to Knowing What the Numbers Really Mean Author:Karen Berman, Joe Knight, John Case Companies expect managers to use financial data to allocate resources and run their departments. But many managers cant read a balance sheet, wouldnt recognize a liquidity ratio, and dont know how to calculate return on investment. Worse, they dont have any idea where the numbers come from or how reliable they really are.... more » In Financial Intelligence, Karen Berman and Joe Knight teach the basics of financebut with a twist. Financial reporting, they argue, is as much art as science. Since nobody can quantify everything, accountants always rely on estimates, assumptions, and judgment calls. Savvy managers need to know how those sources of possible bias can affect the financialsand they need to know that sometimes the numbers can be challenged. While providing the foundation for a deep understanding of the financial side of business, the book also arms managers with practical strategies for improving their companies performancestrategies such as "managing the balance sheet" that are well understood by financial professionals but rarely shared with their nonfinancial colleagues. Accessible, jargon-free, and filled with entertaining stories of real companies, Financial Intelligence will help nonfinancial managers be smarter and more confident in their everyday work.« less