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Type of bind: Paperback
Dewey Decimal Number: 658.150886583
EAN num: 9781422119136
ISBN number: 1422119130
Label: Harvard Business School Press
Manufacturer: Harvard Business School Press
Quantity: 1
Page Count: 256
Printing Date: April 22, 2008
Publishing house: Harvard Business School Press
Sale Popularity Level: 273382
Studio: Harvard Business School Press
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Product Description:
As an HR manager, you're expected to use financial data to make decisions, allocate resources, and budget expenses. But if you're like many human resource practitioners, you may feel uncertain or uncomfortable incorporating financial numbers into your day-to-day work.
In Financial Intelligence for HR Professionals, Karen Berman and Joe Knight tailour the groundbreaking work they introduced in their book Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean to present the essentials of finance specifically for HR experts.
Drawing on their work training tens of thousands of managers and employees at leading organizations worldwide, Berman and Knight provide you with a deep understanding of the basics of financial management and measurement, along with hands-on activities to practice what you are reading. You'll discover:
· Why the assumptions behind financial data matter
· What your company's income statement, balance sheet, and cash flow statement really reveal
· How to use ratios to assess your company's financial health
· How to calculate return on investment
· Ways to use financial information to support your business units and do your own job better
· How to instill financial intelligence throughout your team
Authoritative and accessible, this book empowers you to 'talk numbers' confidently with your boss, colleagues, and direct reports--and with the finance department.
User popularity level:
Rated by buyers -
Berman and Knight have done the impossible - make finance clear, interesting, even fun! Finance is not one of my favorite topics. I typically nod off when engaged in finance-related conversations or sitting in yet another, interminable budget meeting. But I actually found myself looking forward to picking up this book, whenever I had time to read, for yet another discusion of balance sheets, profitability ratios, and yes, my personal favorite, EBITs.
I wish I had this book years ago. Their explanations are clear, their ripped-from-the-headlines examples are relevant and compelling, and their writing style is lively. Their frequent playful and humorous asides help to humanize the material.
There are many helpful features in this book. Among my favorites are the embedded glossary (definitions that appear on the page where the expressions are very first used rather than at the end, requiring the reader to flip back and forth) and the toolbox at the end of each Part that gives the reader a hands on opportunity to try out the concepts they have just learned. I also appreciated their emphasis on finance as art not science, subject to assumptions, biases, even manipulation and fraud. I guess I knew that, but I didn't realize just how subjective it can be. Another discusion that I also found very helpful was the difference between cash and profit, and the relationship between the two. I thought that their description of this critical topic was especially lucid, lifting the fog that usually accompanies my attempts to understand, and most important, apply this concept.
This book is a must read for any human resource professional. No longer will we be sloughed off to the side when money, not people, is the main topic at hand. Armed with this book, we can participate fully in these conversations and even influence the outcomes by demonstrating how human resources - the people and the function - can help the organization make more money.
Rated by buyers -
This excellent book gives HR professionals the keys to the corporate kingdom. I have been coaching Human Resource professionals for twenty years and this is the very first book I have ever personally recommended to all my current clients whether they are SVPs, Directors, Mgrs or students.
HR is too often viewed as only having a policy and procedure role focusing mainly on compliance and legal issues. It is viewed as a support function and has little influence in the overall strategy of the company. This book is the path for HR professionals that want to be a part of the organization's competitive advantage.
In a simple and straightforward manner the authors give HR professionals the language of organizations. That means not only understanding but being able to make a significant Human Resource case based on the financials.
Rated by buyers -
As a human resources professional, I've noticed that my peers are often uncomfortable reading, let alone understanding, financial statements. Yet, to be a strategic business partner, we must not only be conversant in company financials, we must understand the implications of the numbers. In this book, Berman and Knight have done an unprecedented job in explaining the unfathomable world of income statements, balance sheets, and ratios, so that HR professionals can come to the table not only informed, but armed with what it takes to be a meaningful player.
As an HR executive, I would buy a copy of this book for every one on my staff and initiate training to ensure that each person gets a sound grasp of its contents. When my HR staff talks with line management in a way that shows they know the numbers, my department's credibility and my credibility will soar.
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