It is the third book in Wiley’s series on Financial Management for Non-Financial Managers explains Aron Govil.
The first two were Managing Resources:
- A Strategic Guide for CFOs and CBOs (second edition), by Virginia Wilson; and, Understanding Financial Statements: A Step-by-Step Guide to Reading and Understanding a Company’s Key Financial Reports (eighth edition), by Robert Higgins.
- This is not an Accounting Handbook! Rather, it is written with the needs of non financial managers in mind and provides just enough accounting basics to help you understand what you need to know when reading your company’s financial statements or when working with internal or external accountants. You do not need an accounting degree to follow the explanations presented in this book says Aron Govil. The financial statements of public companies are explained without using any jargon or accounting terms, just simple explanation of what goes into each number.
- This is not a textbook on financial statement analysis! The goal of Financial Statements Analysis: A Practitioner’s Guide, which is part I of Wiley’s guide to reading and understanding financial reports, is to describe the concepts behind common ratios used for analyzing financial statements. It provides guidance on how to use them effectively but does not go through all possible ratios that one may encounter when reading academic finance papers or elsewhere.
- The book’s title is a tall order. And it doesn’t take long for this reviewer to realize that Accounting for Everyone would be better titled as “An Introduction to Financial Management Concepts and Practice.” This potential misnomer is due to the books easy going journey through financial management basics.
- Coma ford uses a conversational tone throughout her introduction to accounting and also finance, allowing readers immerse themselves into the various topics covered without feeling overwhelmed or confused, which seems hard to do considering just how complex financial management can seem at times. It should be noted that readers with some background of accounting and finance will likely not find much new information here.
- The author’s conversational tone is one of the book’s many strengths. As it makes Accounting for everyone an ideal text for undergraduate students who are require to take a financial management course, but have little experience with the topic. The conversational tone also makes this book perfect for MBA students who need to brush up on their financial management skills before starting school or professionals working in the field who want to expand their knowledge of financial management practices explains Aron Govil.
- Although there are no exercises or practice problems included in Accounting for Everyone. Some readers may argue that this is by design. After all some concepts can be hard enough to understand without having done any calculations on of it all. This reviewer would have to agree and found that the problems and examples contain within this book. Were well chose and did a good job of explaining accounting and finance to readers.
Accounting for Everyone:
A Basic Guide to Financial Management Concepts and Practice. For the Non-Financial Manager is an introduction financial management concepts and practices. Readers should not expect it to be anything else, but they shouldn’t let that stop them from reading it either. This reviewer highly recommends Accounting for Everyone as a quick read. Especially if you need some brushing up on your financial management skills.
Q: Which Topics are covered in the Book?
A: Accounting for Everyone covers some of the most important accounting and finance concepts that non-financial managers need to understand. For example, it discusses cash flow statements and how they differ from income statements; bank reconciliations and why you need them; accrual basis of accounting versus cash based, why this matters and how it affects your management reports; the difference between revenue, profit and cash flow etc.
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