Smart Skills: Mastering the Numbers

Book excerpt: Book 4 of the Smart Skills series: practical guides to mastering vital business skills and techniques. Using proven strategies from business experts, these essential smart skills can empower anyone with the tools to get ahead.A practical and accessible guide to the numerical skills needed to excel in businessWhatever your business or technical background, having a sound grasp of finance empowers you to make more informed and confident strategic and operational decisions. Those with a good understanding are also more likely to be involved in strategically important projects, facilitating career advancement or any role where scrutiny of budgets or contracts is required.This book is designed to give any professional from a non-financial background the skills and confidence to add that critical financial dimension to their skillset.•Quickly and accurately read and interpret accounts, including forecasts, balance sheets and profit and loss reports•Understand the difference between revenue, profit, cash flow, overhead and margin to make better financial decisions and produce budgets and forecasts with confidence•Effectively communicate financial performance to your management or employeesWhether you are an entrepreneur with a great business idea but no idea how to explain your plans to potential investors, or a marketing professional hoping to understand accounting jargon in your financial reports, this Smart Skills guide can give you the skills and knowledge you need to succeed in business, with no need for an expensive or lengthy course in finance.***ContentsForewordIntroduction1. The Overview2. The Balance Sheet3. The Profit and Loss Account4. The Cash Flow Statement5. Financial Ratios and other Measures of Performance6. Budgeting7. Costing8. Capital Expenditure Appraisal (CAPEX)Dictionary of Accounting JargonAppendices