By Karen Berman
Drawing on their paintings education tens of hundreds of thousands of individuals at best companies around the globe, the authors offer a deep figuring out of the fundamentals of monetary administration and size, besides hands-on actions to perform what you're studying. you are going to discover:
Why the assumptions at the back of monetary info matter
- What source of revenue statements, stability sheets, and money move statements rather reveal
- how you can use ratios to evaluate your venture's monetary health
- easy methods to calculate go back in your investments on your enterprise
- how you can use monetary info to do your individual task better
- easy methods to instill monetary intelligence all through your team
Authoritative and available, monetary Intelligence for marketers empowers you to "talk numbers" expectantly with colleagues, companions, and employees-- and entirely know how to take advantage of monetary facts to make higher judgements to your business.
Read Online or Download Financial intelligence for entrepreneurs: what you really need to know about the numbers PDF
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Extra resources for Financial intelligence for entrepreneurs: what you really need to know about the numbers
Sample text
BUILDING A FINANCIAL STAFF An entrepreneurial company typically starts out with one person on the financial staff: a part-time bookkeeper (who may be the entrepreneur himself or herself, or a spouse). As your company grows, you may need a full-time bookkeeper (or bookkeeping firm), and you will also need an accountant, who can review your financial statements and prepare tax returns. For many companies, that’s enough—particularly if your accountant is also qualified to serve as a financial adviser.
An entrepreneur applying for a loan might be tempted to try the same thing. It’s good to be aware of how slippery some of these slopes can be. Besides, it’s always entertaining to read about the bad guys. In preparing this edition of our book, we interviewed a number of entrepreneurs to learn what their experience had been. Among them were Paul Saginaw and Ari Weinzweig, who hail from Ann Arbor, Michigan. Saginaw and Weinzweig founded the famous Zingerman’s Deli because, as they tell it, they couldn’t find a good corned-beef sandwich anywhere in town.
And that discretion can have a considerable impact. Take the airline industry. Some years back, airlines realized that their planes were lasting longer than anticipated. So the industry’s accountants changed their depreciation schedules to reflect that longer life. As a result, they subtracted less depreciation from revenue each month. And guess what? The industry’s profits rose significantly, reflecting the fact that the airlines wouldn’t have to be buying replacement planes as soon as they had thought.