|Author||Marx et al|
The role of a financial manager is to maintain a firm’s liquidity and solvency by providing the cash flows necessary to satisfy its obligations and acquiring and financing the current and fixed assets needed to achieve its goals. However, the management of a firm’s assets is not exclusively in the hands of a financial manager. Other functional departments, especially purchasing and marketing, play a significant role.
Finance For Non-Financial Managers thus provides an understanding of the principles of financial management as required to contribute favourably to the long-term success of a firm. Finance for non-financial managers explains the financial goals of a firm and illustrates how the principles of finance should be applied in creating wealth as opposed to simply maximising profit. With its ideal for anyone who has little or no prior knowledge of accounting or financial management.
In particular, Finance For Non-Financial Managers deals with the following:
- the long-term goal of creating value and the short-term goals of profitability and liquidity;
- analysing and interpreting financial statements;
- using a financial calculator;
- managing cash flow (liquidity), accounts receivable and inventory (stock).
Finance For Non-Financial Managers is aimed at managers involved in marketing, human resources, information technology and supply chain management, and for professionals such as engineers, architects, attorneys and medical professionals in private practice.