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Chuck Kremer, Ron Rizzuto, and John F. Case believe "50 percent of small-company owners and managers don't get complete, timely information about their business's financial performance" and "90 percent don't really understand or use the information they do get." Kremer, a business-literacy consultant, Rizzuto, a university finance professor, and Case, a business journalist, further contend that such data and their proper application are critical to the successful operation of any small business. That's why they've assembled Managing by the Numbers as a self-help guide to the ins and outs of corporate finance. In the first section, they show how to decipher three major reports that everyone should review monthly (balance sheet, income statement, cash flow). In the second, they discuss how resultant figures tie in to "three bottom lines of business" (net profit, operating cash flow, return on assets) that can be examined collectively. And in the third, they explain ways that stimuli for each can be optimized to achieve overall business goals. The combination allows you to "translate your financial understanding into better financial performance," the authors conclude. While much of the material may seem intimidating, it is presented clearly and could indeed provide an edge in today's hypercompetitive business environment. --Howard Rothman
Book Description
Developed in partnership with Inc., a handy and practical guide to interpreting your company's financial statements to drive business growth and profitability
Everyone interested in building a stronger business needs to understand and use the information captured in financial statements. In Managing by the Numbers, business education and accounting experts Chuck Kremer and Ron Rizzuto team up with open-book management authority John Case to demystify the numbers. They present a practical, common-sense approach to reading financial statements and to managing the three bottom lines of business financial performance: net profit, operating cash flow, and return on assets. The book features numerous exercises and examples (with associated templates available on the Web), a powerful new management tool known as "The Financial Scoreboard," and an extensive glossary. Managing by the Numbers is an essential resource for entrepreneurs, business owners, managers, and anyone eager to improve their mastery of the financial side of running a business.
Customer Reviews:
I got this book free. I would've paid..........2006-12-21
10x the cover if I knew the value it'd bring.
I got this book as part of "Birthing of Giants". It's a three year retreat for entrepreneurs held for a week in the summer. You get a reading list and they are kind enough to send you books.
It sat in the box until Charles Kremer came to speak to our class. What he presented made the material so clear.
Before, I'd set barriers as to what was comfortable from a cash management point of view. My goals would actually cause pain when they'd be reached.
The relationships between balance sheet, income statement and cash statement are clear. "Beginning position" +/-non cash part of transaction +/- cash part of transaction = "Ending position"
Want to know the effect of retained earnings on the balance sheet or MSGA expense on the income statement or where the Interest expense paid should fall? Consult the "Magic Square".
Don't look at this book as a substitute for CPA knowledge but rather as a cheat-sheet for financial goal setting and cash management of a business.
A straightforward explanation of how the accounting jigsaw fits together.......2006-07-14
The book is well written with a non accounting audience in mind. A greater understanding of how accounting savvy people utilize the information within balance sheets, P&L's and cash flow statements can be achieved. An enjoyable and worthwhile read for those who want to try and get to grips with the irksome task of understanding their accountant, or even better to use the accounting information available to IMPROVE their business.
Easy to understand!.......2004-09-09
This was the first book that I've read that makes this type of material easy and interesting. Definitely, check this book out. I always recommend it to friends.
Tom Ehrenfeld's recommendation........2003-09-18
EXCERPTED From Chapter 3 (The Numbers That Count: Acknowledge the Rules), Page 72*
At the end of this chapter, I refer to several terrific books that delve into much greater detail of these aspects, and I highly recommend that you read them. At the bare minimum, you need to understand the basics.
Folks who speak the language of finance use three financial statements; the income statement, the balance sheet, and cash flow.
Each set of numbers tracks a different function. Each one is important for your business. (Note: I highly recommend the terrific book Managing by the Numbers by Chuck Kremer et. al.-see "Resources" at the end of the chapter.)
The balance sheet provides what experts call a "snapshot" of your business's financial condition at one particular point in time. Think of this statement as what your business owns and what it owes. This statement lists your assets (what the business owns or is due), your liabilities (what the business owes), and difference between assets and liabilities, which is called owner's equity. This sheet is constructed so that your assets minus your liabilities necessarily equal the owner's equity; thus, when it is produced correctly, the sums are balanced.
The income statement tracks your company's profitability over a given period of time. It says whether, in a specific period, you made money or didn't. But, and this is a huge but, it's an abstraction. It shows the promises that people have made to pay you money, and the agreements you have made to pay others. "It shows whether you're making money on the goods and services you provide, once you have taken all your costs and expenses into account. But it isn't real," write Kremer et al. It doesn't show how much cash you've put in you bank account or how much cash you spent." Income statements are subject to manipulation. Because income statements are subject to intangible factors such as depreciation (which tracks how an asset loses value over time), you can show a profit-or loss-that is not directly tied to your activities in that span of time. Moreover, income statements count promises that others have made to you as actual income, while the daily reality may be quite different. So these statements indicate profitability-which is good-but they don't necessarily reflect your daily, actual situation.
For that you have cash flow. Cash flow is, very simply, the difference between your cash receipts and your cash expenditures. It's what you have left after you spend the money that you take in. Consider this measure to be your business checkbook; what cash is actually coming into your business and what is actually being spent? There is no fudging cash. It's what you have on hand-the balance in your account.
EXCERPTED FROM Chapter 3 (The Numbers That Count: Resources), Page 93*
Managing the Numbers by Chuck Kremer and Ron Rizzuto with John Case (Perseus Publishing, Cambridge, Massachusetts, 2000)
This gem limns the theory and practice of financial management for small companies. Set aside the fact that some of the basics may apply to larger or slightly more mature companies than yours. Read this to understand how to use the financial life of your company as the basis for critical operational decisions. Kremer et al. show how you need to understand three financial statements (the balance sheet, the income statement, and cash flow) to truly evaluate your company's performance. Moreover, you really start to control this function when you learn how the three statements fit together.
*Tom Ehrenfeld, the startup garden (New York: McGraw-Hill, 2002).
Simple yet sound.......2002-09-11
If you don't have a business degree and as a business owner or potential business owner are looking for more knowledge on how to understand the books then get this book. If you do have a degree in Business then you need not spend your money here. Take the 14.95 you would pay for this book, invest it in a high yield stock or bond and wait 50 years and you may have about a thousand bucks or so.
Book Description
For use as a supplement in
Principles of Accounting and
Introduction to Financial Accounting courses. Perfect for any accounting course where analyzing financial statements and understanding financial ratios is important.
This
activity workbook helps students analyze real company financial statement information. Each activity concentrates on only one aspect of the analysis and uses data from well-known corporations to pique students' interest and add relevancy.
Book Description
This combined text-workbook is divided into concise learning parts that cover both the why and how of accounting. For use after the intermediate accounting course, this book supplies full-sized cases based on real world applications, appropriate for graduate students, professionals, and high-level undergraduate accounting students. It may also be used in a capstone course in a financial accounting sequence
Customer Reviews:
Case study is worth reading..........2007-04-21
First part of this book is about reading financial statements. If you already know the statements, you don't need to read the first part. However, even if you can read the statements, the second part, case study, will be helpful to your real analysis.
good case study.......2006-04-30
I found the chapters are not very in detail. I was using it as the textbook and the lecture notes are way better. I read the book at the begginning but stopped in the middle as it doesn't really help. However, the end of chapter case studies are pretty good.
Useful if cumbersome.......2002-12-16
This review applies to the edition WITH CASES. This isn't recommended for anyone who is just starting out with choosing investments. Beginners might be better off with a more general overview of financial statement analysis (FSA) like Higgins' "Analysis of Financial Statements" or Fraser and Omriston's "Understanding Financial Statements".
This was one of two textbooks used in a financial statement analysis course I took for my MBA. Most chapters are down-to-earth and as a whole the book is well-written.
The other text we used was Penman's "Financial Statement Analysis and Security Valuation" which was also a great resource as far as gaining a basic understanding of the mechanics of financial statements and how to build a valuation model.
I contrast the two books because while Penman provides a run-down of several different models analysts can use (and does a good job of arguing for the Residual Income Model of valuation model as being the best), Palepu delves into the implications of companies' choices of accounting methods and provides more insight into what different kinds of businesses should look like in terms of their financial statements.
The cases at the end of each chapter add a lot of value to the text because they get students to focus on the specific issues detailed in each chapter. By picking apart different companies' financial statements we learned to use financial statements to assess the success or failure of companies' efforts to carry out their business strategies.
I rate it "Good - 4 stars"
Required Text.......2002-09-17
This is a required text at my school, but after having read the first 5 chapters there is almost nothing of value that I have read. I have spoken to several people that have used this text for the class in prior semesters and they told me that they had stopped reading it after the first several chapters also.
Excellent Capstone Book.......2000-10-12
This book is an excellent description of all the elements that would go into reviewing a potential investment opportunity. It is not a detailed book in one category, such as financial accounting, but it ties business strategy analysis, financial analysis, forecasting analysis, and valuation analysis together. Most other books focus on one area and don't tie all of these together well. This one takes you down the path to evaluating the opportunity to its fullest. It is an excellent capstone book after you have sifted through the details of strategy, finance, and accounting.
Average customer rating:
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Cases in Corporate Financial Reporting
Paul A. Griffin
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Paperback
 Corporate Finance
| Finance
| Business & Investing
| Subjects
| Books
General
| Business & Investing
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| Books
General
| Accounting
| Industries & Professions
| Business & Investing
| Subjects
| Books
General
| Accounting
| Accounting & Finance
| Professional & Technical
| Subjects
| Books
ASIN: 0131167162 |
Book Description
A collection of financial accounting cases designed to help readers become financial statement users, this book was developed from the course materials used in the past six years at the University of Texas at Austin. Each case utilizes financial statement information (balance sheet, income statement, statement of cash flow and/or footnotes) and a number of topical questions. Readers use the financial statement information to infer and interpret the economic events underlying the numbers. Related articles taken from business publications accompany some cases. Information from the articles is incorporated into the case question material. This comprehensive book provides a complete review of analyzing balance sheets, income statements, statements of cash flows, ratio analysis and interpreting and understanding specific accounts. For those in financial reporting and accounting and others working with financial statements.
Customer Reviews:
Don't waste your money........2006-10-09
This book is horrible. I'm using it in my advanced accounting class right now and all I can say is that this book is a waste of time. Its exercises are backwards, not in any form you'd ever run accross in the real world. There's no explanation for the topics. You're thrown into the book expected to know all of the information it presents. If this information is new to you you'll need another accounting book anyways. Save your money and just buy a nice, well written text book.
It's a great book with very useful examples!.......1998-11-12
If you are looking for a book that will help you to understand complex Financial Accounting using cases taken form the real life, this is your book!
Average customer rating:
- Great college text: Clear, concise and relevent
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Corporate Financial Report And Analysis: Text and Cases
David Hawkins
Manufacturer: McGraw-Hill/Irwin
ProductGroup: Book
Binding: Hardcover
Corporate Finance
| Finance
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
Financial
| Accounting
| Industries & Professions
| Business & Investing
| Subjects
| Books
General
| Finance
| Accounting & Finance
| Professional & Technical
| Subjects
| Books
General
| Accounting
| Business & Finance
| New & Used Textbooks
| Stores
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General
| Business & Finance
| New & Used Textbooks
| Stores
| Books
Corporate
| Finance
| Business & Finance
| New & Used Textbooks
| Stores
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All Titles
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Business & Investing
| Qualifying Textbooks - Fall 2007
| Stores
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Professional
| Qualifying Textbooks - Fall 2007
| Stores
| Books
ASIN: 0256081476 |
Book Description
This text/ case book is based on the very successful Analysis of Corporate Financial Reports second-year MBA course taught at Harvard's Graduate School of Business Administration. This text supports the assumption that success in the business world as a manager, investor, creditor, or public accountant requires an understanding of the interplay between a company’s corporate strategy and its corporate financial reporting policies and practices. This book shows financial statement users how to analyze financial reports so as to identify the economic realities of the reporting corporation by providing the reader with: 1. an understanding of current financial reporting practices; 2. the ways in which corporate financial statements influence our economic system; 3. consequences of corporate financial data for those who depend on their credibility; 4. the methods by which statement users interpret data contained in financial reports.
Customer Reviews:
Great college text: Clear, concise and relevent.......2000-04-04
If you're interested in Consumer Behavior, grab this book. The writers of Consumer Behavior seem to have the student of all ages in mind. For both undergraduate to MBA programs, I felt the content (from case studies to psychological buyer behavior), lives up to its name.
The premise of the book: how understanding buyer behavior influences overall strategy.
If you're looking for a self-tutorial in Consumer Behavior, this is it.
Average customer rating:
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Corporate Financial Reporting: Text and Cases
E. Richard Brownlee ,
Kenneth R. Ferris , and
Mark E. Haskins
Manufacturer: Richard D Irwin
ProductGroup: Book
Binding: Hardcover
General
| Popular Economics
| Business & Investing
| Subjects
| Books
General
| Business & Investing
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| Books
Financial
| Accounting
| Industries & Professions
| Business & Investing
| Subjects
| Books
General
| Accounting
| Industries & Professions
| Business & Investing
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General
| Accounting
| Accounting & Finance
| Professional & Technical
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ASIN: 0256071942 |
Book Description
CORPORATE FINANCIAL REPORTING is written for students who require an understanding of financial accounting and reporting issues, problems, and practices. It is appropriate for the second financial accounting course at the MBA level, often called Corporate Financial Reporting. Careful consideration is given to the management aspects associated with various financial reporting issues. Chapters blend issues, concepts, standards, and stakeholder interests to convey the complexities, controversies, and uncertainties inherent in the financial reporting process.
Book Description
In The Other Blended Learning, Diann Wilson and Ellen Smilanich explain how to successfully blend a variety of learning methodsincluding mentoring, coaching, on-the-job training, and e-learningaround classroom-delivered content. Though blended learning is most often associated with e-learning, this other blend shows how to maximize the classroom experience to aid learning transfer and improve performance. Written in an easy-to-use format, The Other Blended Learning offers a practical guide for understanding and implementing a successful blended learning approach in any organization no matter what its size or mission.
Download Description
In The Other Blended Learning, Diann Wilson and Ellen Smilanich explain how to successfully blend a variety of learning methods including mentoring, coaching, on-the-job training, and e-learning around classroom-delivered content. Though blended learning is most often associated with e-learning, this other blend shows how to maximize the classroom experience to aid learning transfer and improve performance. Written in an easy-to-use format, The Other Blended Learning offers a practical guide for understanding and implementing a successful blended learning approach in any organization no matter what its size or mission.
Customer Reviews:
TAKES LEARNING TO THE LEADING EDGE!.......2005-07-24
The authors define blended learning as the use of the most effective training solutions, applied in a coordinated manner, to achieve learning objectives that will attain the desired business goals. Wilson and Smilanich believe training departments have an array of options in addition to e-learning and classroom training; they suggest looking beyond the training department to employ all of an organization's resources to achieve its human resource development goals.
The book's three parts are: blended program design basics, training solution options, and sample designs converting classroom training to blended learning. It's organization of material is excellent and rich in detail, providing numerous exhibits and cases. Part 3 provides six samples including: business writing training program; orientation training program; management training program; and train-the-trainer program. Chapters end with key points and resources.
A terrific introduction and resource. Takes learning to the leading edge!
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- Managing Risk in Alternative Investment Strategies: Successful Investing in Hedge Funds and Managed Futures
- Mergers and Acquistions
- Money, Greed, and Risk: Why Financial Crises and Crashes Happen
- Nonprofit Boards and Leadership: Cases on Governance, Change, and Board-Staff Dynamics (Jossey Bass Nonprofit & Public Management Series)
- Performance-Based Reporting : New Management Tools for Unpredictable Times
- Principles of Accounting: Working Papers for Exercises and Problems, Vol 1, Chapters 1-18 and Appendixes A-C
- Principles of Food, Beverage, and Labor Cost Controls
- Public/Private Finance and Development: Methodology/Deal Structuring/Developer Solicitation
- Quality Financial Reporting
- Quicken 2001 for Macs for Dummies
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