Globalisation of economic affairs has made every business ‘competitive’. Competition demands ‘financial appreciation’ of every minute aspect of business. Technocrats, bureaucrats, entrepreneurs, administrators, researchers, service-proiders etc. need to know the exact ‘cost-benefit analysis’ requires simple but through understanding of ‘finance’. There are several books on ‘finance’ with bhousands of pages discussion. But, again, competitive environment do not allow comportable reading of so many pages. One requires reliable but short cut methods of understand ‘finance’. This book exactly offers such methods with great simplicity.
The book rightly starts with a lucid discussion on Balance Sheet and Income Statement, which exhibit the overall financial performance and health of a business enterprise. The next chapters give ample illustrations on corporate financial statements with thorough analysis. The book, then takes us to micro-level analysis of cost – profit – sales. It provides in-depth cost-benefit analysis of key business decisions like product mix, pricing, make or buy, expansion etc. The next chapter explains costing of a product under different business circumstances.
The middle chapters discuss in detail, various aspects of managing working capital progmatically e.g. inventory management, receivables management, cash or fund management. Working Capital Projection and its financing has been explained with suitable illustrations.
Budgets and Budgetary Control are a must for target achievement, performance appraisal and target revisions. The book offers through discussion on the process of preparing budgets and using them effectively. Micro-level standardisation of cost – profit – sales has also been explained with ample examples.
Although ‘accounting’ has now been totally computerised; an executive or entrepreneur needs to know its fundamental mechanism. One full chapter is provided on ‘accounting system’ i.e. double-entry book-keeping.
The book gives simple explanation of ‘investment appraisal techniques’ like Pay Back Period, Average Rate of Return and Discounted Cash Flow. One separate chapter has been devoted for an individual’s investment decisions and assessment of his investment portfolio. The book also gives discussion on ‘Indian Capital Market’. Ultimately, competition demands strategic management of cost – profit – sales at every level in an organisation. The last chapter explains various aspects of strategic cost management.
The book gives an overall understanding of ‘finance’ to everybody, in the simplest manner and with an interesting style.
Contents –
Section I- Corpotate Accounting
Section II – Cost Accounting
Section III – Management Accounting
Section IV – Financial Management
Section V – Strtegic Cost And Information Management
Section VI – Investment Management
