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Financial Intelligence, Revised Edition: A Manager's Guide to Knowing What the Numbers Really Mean Hardcover – Illustrated, 19 February 2013
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"Nonfinancial managers will appreciate this nontechnical, in-depth guided tour through financial statements and financial concepts and analysis. -- Choice Magazine
About the Author
Karen Berman and Joseph Knight are the founders of the Los Angeles-based Business Literacy Institute. They train managers at organizations such as American Express, P&G, Pacific Life, GM and Tyco International. They have been interviewed in a wide range of print media including BusinessWeek, USA Today and the Los Angeles Times.
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Most helpful customer reviews on Amazon.com
I took about a year of accounting courses in college, but never quite learned the intricacies of financial statement analysis. I wanted to learn not only about corporate finance, but also how to analyze financial statements. Thus, my search was on.
After researching book stores and reading forums online, I learned about this book, which I looked up on Amazon.com. I love books that get straight to the point, so when I saw that this book covered corporate financial management and financial statement analysis in under 300 pages, I was in!
I purchased the book from Amazon and I read it in about two weeks. I literally could not put it down. The authors speak like human beings and actually make math and finance fun and interesting. In those two weeks alone, I not only gained a better understanding of accounting, but I learned how to evaluate investments and make management decisions based on company finances.
The book covers income statement analysis, balance sheet analysis, cash flow statement analysis, performance ratios, a bit of inventory management (like a financial intro to lean), and advanced capital expenditure analysis through concepts like discounted cash flow analysis.
This book took me from feeling like I'd never understand certain things, to being able to discuss finance like an executive manager.
I'm not kidding either, the book dives straight in and explains everything in a no nonsense approach.
Financial Intelligence acted like a learning springboard for me by providing a foundation for me to read deeper into finance.
I 100% recommend this book to anyone looking for a place to begin their finance studies.
And don't let the chapters labeled as Toolboxes fool you - you will not be able to take what you learn from this book and dissect your company's 10K report. In fact I think I have no better idea as to where or how to start analyzing my company's finances after reading this book. I would say I am disappointed in this book, and the only thing keeping me going is that the chapters are brief and I know it will be over soon enough.
Perhaps the most interesting part of this is how honestly the book covers the art of finance. They go into details about the games that can be played (legal and illegal) to make the financial reports tell the story that "needs" to be told.
This is a must-read for anyone who leads teams in corporations or invests in stocks.