By Gene Siciliano
Monetary reviews communicate their very own language, and bosses and not using a robust finance heritage frequently locate themselves bewildered via what's being said.
Finance for NonFinancial Managers is helping managers familiarize yourself with crucial monetary details, exhibiting them easy methods to "speak the language of numbers" and enforce monetary facts of their day-by-day company decisions.
In addition, it clarifies how and why monetary judgements influence company and operational pursuits.
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Additional info for Finance for Non-Financial Managers
These buckets are then arranged and rearranged during the accounting process and their contents are counted and checked—usually monthly—to produce reports that summarize the data they contain. Let’s take a quick look at the abbreviated chart of accounts in Figure 2-5, to give you a quick idea what it might look like in a typical company. We’ll discuss and define the major categories in the chart of accounts in Chapters 3 and 4, when we talk about the basic financial statements. After your quick look, you can forget what it looks like, as long as you remember its importance in categorizing raw accounting data into useful information.
Thus, if a company is able to conduct its financial affairs in such a way that it can add assets without adding an equal amount of liabilities, it has effectively increased the relative weight of the company’s ownership. Remember: the two sides must always balance, according to the formula that is always true under the rules of accounting: Total Assets – Total Liabilities = Stockholders’ Equity Now, the insight that I hope will be immediately obvious is this: the simplest way to increase assets without increasing liabilities by an equal and offsetting amount is to make a profit.
In evaluating a company, look carefully at the relationship between fixed assets and accumulated depreciation shown on the balance sheet. If the accumulated depreciation is a large percentage of total fixed assets and very little remains to be written off, it may be a sign that the company is facing potentially heavy expenditures in the near future to replace aging equipment that may no longer be able to do its job. In an industry influenced by technology, such as automobile manufacturing, this may be even more of a concern.