Offering a unique blend of academic rigour and practical insights this book uses examples and illustrations drawn from a wide range of real-life situations. It teases out meaning from company accounts, makes your financial reports interesting and influential, manages budgets and motivates people to achieve targets, and much more. Ideal as a text for all students requiring an introduction to financial management.
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Cover Business, Management and Finance; Accounting; Banking, Finance and Accountancy; Financial Management title: author: publisher: isbn10 | asin: print isbn13: ebook isbn13: language: subject publication date: lcc: ddc: subject: cover Page i Mastering Financial management page_i Page ii Palgrave Master Series Palgrave Master Series Series Standing Order ISBN 0–333–69343–4 (outside North America only) You can receive future titles in this series as they are published by placing a standing order. Please contact your booksetter or, in case of difficulty, write to us at the address below with your name and address, the title of the series and the ISBN quoted above. Customer Services Department, Macmillan Distribution Ltd Houndmills, Basingstoke, Hampshire RG21 6XS, England page_ii Page iii Mastering Financial management John Whiteley, FCA Business Series Editor Richard Pettinger page_iii Page iv © John Whiteley 2004 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London W1T 4LP. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988 Published by PALGRAVE MACMILLAN Houndmills, Basingstoke, Hampshire RG21 6XS and 175 Fifth Avenue, New York, N.Y. 10010 Companies and representatives throughout the world PALGRAVE MACMILLAN is the global academic imprint of the Palgrave Macmillan division of St. Martin's Press, LLC and of Palgrave Macmillan Ltd. Macmillan® is a registered trademark in the United States, United Kingdom and other countries. Palgrave is a registered trademark in the European Union and other countries. ISBN 1–4039–1336–6 This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. A catalogue record for this book is available from the British Library. Library of Congress Cataloging-in-Publication Data Whiteley, John, 1943 June 27Mastering financial management / John Whiteley. p. cm. – (Palgrave master series) Includes bibliographical references and index. ISBN 1-4039-1336-6 (paper) 1. Business enterprises–Finance. 2. Corporations–Finance. I. Title: Financial management. II. Title. III. Series. HG4026.W485 2003 658.15–dc22 2003055875 Printed and bound in Great Britain by Creative Print & Design (Wales), Ebbw Vale page_iv Page v Contents Preface viii 1 Introduction 1 Taking control 1 The art and craft of financial management 1 2 Understanding accounts 4 Introduction 4 What is behind the figures? 4 Comparisons 9 Statistical analysis and key ratios 10 Performance measures for non-profit organisations 22 Summary 25 Assignment 26 3 Financial reporting 30 Introduction 30 Reporting – external and internal 30 Break-even analysis 33 Effective presentation of figures 36 Assignment 40 4 The budgeting process 42 Introduction 42 The budgeting cycle 42 Making plans 42 Measuring performance 44 Monitoring performance 45