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A Primer on the Art of Finance: For Entrepreneurs
Berman, Karen; Knight, JoeBook Chapter HBS-6545BC-EIf you're like a lot of entrepreneurs, you may be a little mystified by the idea that finance is partly an art. But understanding the "artistic" aspects of finance is key to developing financial intelligence. This chapter examines how financial professionals make estimates and assumptions using accruals and allocations, depreciation, and valuation. This chapter is excerpted from "Financial Intelligence for Entrepreneurs."Starting at €8.20
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What Is Financial Intelligence: The Three Main Components
Berman, Karen; Knight, JoeBook Chapter HBS-6532BC-EFundamentally, financial intelligence boils down to three distinct skill sets: understanding the foundation, understanding the art of finance, and understanding financial analysis. This chapter provides an overview of all three skills, along with a discussion about some roadblocks to financial intelligence. This chapter is excerpted from "Financial Intelligence for Entrepreneurs."Starting at €8.20
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Revenue - The Issue is Recognition: Entrepreneurs Need to Understand the Possibilities and Pitfalls
Berman, Karen; Knight, JoeBook Chapter HBS-6548BC-EThe issue of when a sale can be recorded is one of the more artful aspects of the income statement that entrepreneurs need to learn. This chapter explains the often murky guidelines accountants use for recording and recognizing a sale and identifies some areas you should keep an eye on where manipulation of the numbers sometimes occurs. This chapter is excerpted from "Financial Intelligence for Entrepreneurs."Starting at €8.20
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How Cash Connects With Everything Else: Understanding a Cash Flow Statement
Berman, Karen; Knight, JoeBook Chapter HBS-6559BC-EKnowledge and CommunicationYou can calculate a cash flow statement just by looking at the income statement and two balance sheets. The information you'll learn by going through the exercise in this chapter can be invaluable. It will contribute to your understanding of how to be cash flow positive. This chapter is excerpted from "Financial Intelligence for Entrepreneurs: What You Really Need to Know About the Numbers."Starting at €8.20
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Are Your People Financially Literate
Berman, Karen; Knight, JoeArticle HBS-F0910D-EFinanceAsked to take a basic financial literacy exam, a representative sample of U.S. managers scored an average of only 38%, which doesn't bode well for either the individuals or their organizations.Starting at €8.20
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Financial Literacy Strategies: For Entrepreneurs
Berman, Karen; Knight, JoeBook Chapter HBS-6572BC-EIn order to have a financially intelligent company, you must first figure out a strategy for getting there. This chapter outlines three approaches that have proven effective in making financial literacy part of a company's culture. This chapter is excerpted from "Financial Intelligence for Entrepreneurs: What You Really Need to Know About the Numbers."Starting at €8.20
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Efficiency Ratios - Making the Most of Your Assets
Berman, Karen; Knight, JoeBook Chapter HBS-6565BC-EEfficiency ratios help you evaluate how efficiently you manage certain key balance sheet assets and liabilities. Financially intelligent entrepreneurs learn how efficiency ratios measure performance, and are then able to have a direct and immediate impact on their company's cash position. This chapter is excerpted from "Financial Intelligence for Entrepreneurs: What You Really Need to Know About the Numbers."Starting at €8.20
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Homing In on Cash Conversion
Berman, Karen; Knight, JoeBook Chapter HBS-3842BC-EThe cash conversion cycle, introduced in this chapter, measures how effective a company is at collecting its cash. The cycle can be shortened by the techniques discussed: decreasing days of sales outstanding (DSO), decreasing inventory, and increasing days payable outstanding (DPO). This chapter is excerpted from "Financial Intelligence for Entrepreneurs: What You Really Need to Know About the Numbers."Starting at €8.20
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Understanding Balance Sheet Basics: Financial Intelligence for Entrepreneurs
Berman, Karen; Knight, JoeBook Chapter HBS-6551BC-EGive a company's financials to a first-time entrepreneur, and the first thing he will turn to is the income statement. Conversely, an experienced investor will go right to the balance sheet. Why don't less experienced entrepreneurs do what the pros do? Understanding the importance of a balance sheet - and learning how to read it - will put you ahead of the game. This chapter is excerpted from "Financial Intelligence for Entrepreneurs: What You Re...Starting at €8.20
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The Income Statement Affects the Balance Sheet: Understanding the Connection
Berman, Karen; Knight, JoeBook Chapter HBS-6555BC-EOne of the best-kept secrets in the world of financial statements is that a change in one statement nearly always has an impact on the other statements. This chapter examines how managing an income statement affects the balance sheet. This chapter is excerpted from "Financial Intelligence for Entrepreneurs: What You Really Need to Know About the Numbers."Starting at €8.20