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Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean

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"It's like The Elements of Style of finance."

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Product Details

Author:	Karen Berman
Hardcover:	288 pages
Publisher:	Harvard Business School Press
Publication Date:	January 12, 2006
ISBN:	1591397642
Package Length:	9.3 inches
Package Width:	6.2 inches
Package Height:	1.1 inches
Package Weight:	1.25 pounds
Average Customer Rating:	based on 30 reviews

Customer Reviews

Average Customer Review: 4.5

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Financial Intelligence Feb 24, 2008
I would highly recommend this book to anyone who desires to understand financial concepts. If you are considering opening or starting a business this should be a must read for you.

Manager directed Jan 07, 2008
I like the book, but it is very basic. If that is what you are looking for, then it does its job. I was looking for a little more meat, but overall a good book. Also, the real-life examples are excellent.

Excellent guide to becoming a financially literate manager! Dec 21, 2007
The concepts are presented clearly. I have a solid background in accounting and finance and this was a welcome refresher. I learned some new things in the process as well.

There are several chapters that I think need further elaboration. These are the ones that deal with cash flows and the Statement of Cash Flows. The latter is the last of the four financial statements (after the Income Statement, the Statement of Retained Earnings, and the Balance Sheet, in that order).

The Statement of Cash Flows has always been the most difficult one to prepare and, yet, in one sense, it is probably the most important one. Managers have leeway to fudge their numbers with the first three statements but they can't with the Statement of Cash Flows. Analysts recognize this and make significant conclusions from their interpretation of this statement.

Warren Buffett, arguably history's most astute investor, begins with this statement and emphasizes it so much that he coined his own term to describe it: "Owner Earnings." According to the book, "Owner earnings is a measure of the company's ability to generate cash over a period of time. ... is an important measure because it allows for the continuing capital expenditure that will be necessary to maintain a healthy business."

Read it if you want a layman's level of comprehending financial statements. Its more important than you might think!

Good Guide to Finance Basics Nov 25, 2007
Many people in management today did not study for MBAs. Instead, they learned their profession on the job and have grown into senior positions. That makes for superb managers, but poor analysts of financial reports. Learning how to read and understand the "numbers" can't be overstated as a skill. And unless one has the time to go back to school and sit through countless accountancy and finance courses, the information isn't readily available. This is a great resource for learning that critical information, at least in its basic form. It is clearly written with simple examples that most people can grasp. As you might expect, it isn't riveting reading--but it sure beats the accounting and finances classes I recall.

Amie Devero Author of Powered by Principle: Using Core Values to Build World-Class Organizations

1 of 1 found the following review helpful:

Great readable summary for non-financial professionals who need straightforward explanations Nov 09, 2007
well organized easy to read summary of basic capital markets concepts simply explained.Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean