Order from a Major Online Bookstore
Ultimate Book Price Comparison Engine
Save Your Time And Money
| AnyBook4Less.com | Order from a Major Online Bookstore |
|
| Home | Store List | FAQ | Contact Us | | ||
| Ultimate Book Price Comparison Engine Save Your Time And Money |
||
 |
Title: Managing by the Numbers: A Commonsense Guide to Understanding and Using Your Company's Financials : An Essential Resource for Growing Businesses by Chuck Kremer, Ron Rizzuto, John Case ISBN: 0-7382-0256-8 Publisher: Perseus Books Group Pub. Date: 15 May, 2000 Format: Paperback Volumes: 1 List Price(USD): $18.00 |
Average Customer Rating: 5 (8 reviews)
Rating: 5
Summary: Tom Ehrenfeld's recommendation.
Comment: 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).
Rating: 5
Summary: Simple yet sound
Comment: 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.
Rating: 5
Summary: Excellent!!
Comment: If I was a small business owner (or even a nonfinancial manager in the corporate world) I'd break my neck to get my hands on this book. If there was a rating beyond 5 stars, I'd give it. A must have!
 |
Title: The Great Game of Business by Jack Stack, Bo Burlingham ISBN: 038547525X Publisher: Currency Pub. Date: 15 January, 1994 List Price(USD): $17.95 |
 |
Title: The Open-Book Experience: Lessons from over 100 Companies Who Successfully Transformed Themselves by John Case ISBN: 0738200409 Publisher: Perseus Books Group Pub. Date: 01 January, 1999 List Price(USD): $14.00 |
 |
Title: A Stake in the Outcome: Building a Culture of Ownership for the Long-Term Success of Your Business by Jack Stack, Bo Burlingham ISBN: 0385505078 Publisher: Currency Pub. Date: 19 March, 2002 List Price(USD): $24.95 |
 |
Title: Open-Book Management: The Coming Business Revolution by John Case ISBN: 0887308023 Publisher: HarperBusiness Pub. Date: 01 February, 1996 List Price(USD): $16.95 |
 |
Title: Financial and Business Statements by G. Thomas Friedlob, Franklin James Plewa, Franklin Jr. Plewa ISBN: 0764113399 Publisher: Barron's Educational Series Pub. Date: 15 April, 2000 List Price(USD): $16.95 |
Thank you for visiting www.AnyBook4Less.com and enjoy your savings!
Copyright� 2001-2021 Send your comments
