Summary of The Definitive Guide to Business Finance

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Rating

8 Overall

8 Applicability

6 Innovation

9 Style


Recommendation

You’d expect a book on business finance to be dry, dull and soporific – that is, a great cure for insomnia. Well, wake up, because Richard Stutely’s manual on numbers for nonfinancial managers blows a bracing gust of fresh air into a stale subject. The business expert’s witty asides, funny anecdotes and tongue-in-cheek approach make for a relatively painless introduction to the basics of number crunching. More important, he focuses on making sense of figures and data and on applying the knowledge they provide. getAbstract suggests this instructive guide to new managers who seek a primer on business finance; business students who need a comprehensible revision aid; seasoned nonfinancial executives, who will refer to it again and again; and novice business owners, who’ll find that its easy-to-use layout really helps make the material accessible.

In this summary, you will learn

  • How understanding your firm’s numbers affects your business and your career,
  • What fundamentals govern accounting and bookkeeping,
  • How to use the numbers to predict your firm’s future, and
  • What tricks to avoid in your financial reports.
 

About the Author

Richard Stutely is an author, educator and Microsoft-certified professional with extensive experience in corporate finance.

 

Summary

“It Is All About the Money – Mainly”

No matter which department you serve in your company – sales, marketing, IT, human resources – and regardless of your seniority, you are responsible for your firm’s profitability. That’s true whether you own a one-person business or work in a multinational corporation. Understanding the numbers is a prerequisite for making money. Your comprehension of figures and financial statements – and, most important, your knowledge of how to use them – will make a huge difference in your current job and throughout your career. You need a good grasp of the numbers if you are creating and defending budgets, forecasting sales, developing strategic plans, deciding on projects, and dealing with auditors or accountants, among other activities. You don’t need an accounting degree or experience as a financial analyst; anyone can learn to master the numbers.


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