CFO Blog: Commentary and Opinion

You are here: Home : CFO Blog : Finance Explained for People Like Me

Finance Explained for People Like Me
Posted by Lisa Yoon | | US
November 18, 2005 2:32 PM ET

I never thought I would say this, but there's a new business book out that I find really useful.

Let me explain that I majored in art history in college. Our school had no core curricular requirements, but to "challenge" myself, I took an introductory economics class once. I think I got a C.

That's pretty much the extent of my schooling that's remotely related to finance.

So, when I started this job almost six years ago, I could have used Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean (Harvard Business School Press) by Karen Berman and Joe Knight. Written with the help of former Inc. magazine writer John Case, it's a plain-English crash course in finance. And I mean plain English: It starts out explaining what a CFO is. It then goes on to everything from leverage and liquidity ratios to working capital management. Throughout the book, it explains why it's useful to understand these financial topics using examples from day-to-day business and the high-profile fraud scandals of Enron and its like.

Towards the end of the book there are two chapters on how financial intelligence helps managers do their jobs better, and how to get started creating a financially intelligent department.

CFOs who want to promote financial literacy among the non-financial managers they work with might consider recommending this book. It reads easily without dumbing down, and it's comprehensive.

It's like The Elements of Style of finance.

Post a Comment

previous post next post
How I Fell Into the Uncanny Valley of Digital Marketing
Gold Medal Whining
Happy Birthday, iPhone; Bye, Bye BlackBerry
Happy Birthday, iPhone; Bye, Bye BlackBerry
This Is An Angry, But Positive Blog
« JANUARY 2018 »
Sun Mon Tue Wed Thu Fri Sat
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31    
Email to a Colleague
  Printer Friendly Version  
  RSS Feeds  
Technology News & Views
Notify me of future events
Enter your email address to begin receiving updates on these topics.