By Clive Marsh
An available, sensible and simple to appreciate advisor, Financial administration for Non-Financial Managers indicates managers how to achieve self assurance in realizing monetary issues, handling the cheap and working with bankers, accountants and finance execs. A resource of expert recommendation on the entire crucial points of monetary administration, it covers: business buildings, accounting and monetary statements, research and ratios, making plans, budgeting, product and repair costing, atmosphere promoting costs, funding appraisal, finance and dealing capital, taxation and overseas transactions.
Supported through labored examples, on-line templates and wide case reports, this booklet is a worthwhile source for managers who have to be capable of make sound strategic monetary judgements.
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Additional info for Financial Management for Non-Financial Managers
Example text
Details of accounts are kept in ledgers that, of course, are now computerized. As another example, if I were to start a business with €100 I would record that the business now had €100 cash and that it owed me (the proprietor) €100. So far so good? Now here comes the tricky bit – the bit where some of you readers might think I have gone wrong! To record the above €200 transaction I would make the following entries in my accounting system: Debit Credit Cash Account Customer Account €200 €200 Note that I have debited my Cash Account with the €200 received and that I have credited my Customer Account with the €200 he has given.
Conversely, it might be beneficial to buy stocks early at a time of rising prices and also to take advantage of any quantity discounts by purchasing greater quantities than are immediately needed by the production department. If stock levels are kept too low then there might be a chance of not having material required to meet production schedules or to make up customer orders. There is an optimal level of stock that needs to be held and this requires careful calculation. Analysis And Financial Ratios The stock-turnover ratio is just a simple measure of how quickly stock moves and a high stock-turnover number would generally be considered healthy since fewer funds were being tied up in stock.
Profit-and-loss accounts and balance sheets are the basic financial statements. There is another statement that helps users of financial state ments understand how funds have been sourced and applied. This is called a Source and Application of Funds Statement and is described briefly below. Source and application of funds statements The purpose of these statements is to show where a company has sourced its funds from and how it has applied them. Since funds statements are only concerned with items involving the movement 27 28 Financial Management for Non-Financial Managers of funds, depreciation is added back to net profits.