The Economist Guide to Financial Management: Principles and practice, by John Tennent

In today’s business landscape, managers are expected to possess a thorough understanding of financial consequences in order to make informed decisions. However, without formal training, many individuals are ill-equipped to handle the responsibilities that come with managing reports, budgets, and capital proposals. This can often lead to embarrassment and frustration.

To address this need, The Economist Guide to Financial Management provides a practical and comprehensive guide to managing financial responsibilities. This resource examines various tasks that managers are required to perform, such as assembling budgets, reading variances on reports, and constructing proposals for new equipment investments. Each task is explored in-depth, including the range of principles that can be applied, practical examples of how these principles are used, and guidance for implementation.

Through this guide, readers will gain a solid understanding of financial jargon, financial statements, management accounts, performance measures, budgeting, costing, pricing, decision-making, and investment appraisal. This second edition has been fully revised and expanded to include detailed examples from 100 leading businesses around the world, making it an essential resource for managers seeking to improve their financial management skills.