The Essentials of Finance and Accounting for Nonfinancial Managers Paperback - 2016 - 3rd Edition

You can be a great manager responsible for a valuable department; but if you don't know how to analyze financial reports and use the data to guide decisions, you'll quickly hit a ceiling.

Numbers are the language of key players in every organization. But how many managers really know how to read a balance sheet? How many grasp what all those figures can tell you about your organization or unit's financial health? And how many can confidently talk about P&L statements, capital expenditures, EBITA, and discounted cash flow?

Fortunately, you don't need an accounting degree to become fluent in the basics of financial analysis, budgeting, and forecasting. This third edition of a popular crash course for managers helps you make sense of financial data, assess performance, and channel efforts into the most promising areas. Packed with the latest information on federal regulations, pertinent GAAP rules, global trends that can impact the financial picture, expanded case studies, and new practice exercises that reinforce the lessons and strengthen skills, this book explains how to:

Interpret balance sheets, income/cash flow statements, and annual reports - Sift through conflicting data to find the most relevant figures - Locate key information about competitors and suppliers - Analyze variances and calculate break-even points and other vital measures - Assess return on assets to evaluate profit centers - Conduct forecasting before launching big projects - Spot "red flags" that might be lurking in the financials - And much more

When you know how to think like a financial analyst, you replace guesswork with hard facts. The Essentials of Finance and Accounting for Nonfinancial Managers will give you a clear, solid grounding in how to understand and apply financial data--and make decisions that drive your business forward.

Edward Fields has taught a popular AMA course on finance and accounting fundamentals for decades, and consults on strategic and financial issues.