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The modern marketplace is increasingly unpredictable and there is an ever-greater need for non-financial managers to understand the financial and management accounting process.
How to Understand Business Finance is written for those running a business in a real market. It describes a business as it proceeds from initial set-up through its first year of trading, providing a quick course on business finance as it relates to business growth. As well as learning how to understand the balance sheet and profit and loss account, readers will also grasp the principles of: market dynamics; budgeting and forecasting; fixed and variable costs; break-even analysis; the difference between profit and cash; financial ratios for measuring business performance; investment appraisal; stock market ratios; shareholder value; financial measures for improving business performance; double entry bookkeeping; the difference in American and British accounting terminology; common acronyms; and the real cash flow implications of working capital.