Books for Finance for Non-Finance Managers
There are different books available that give understanding about the finances to the non-finance managers. Below is the list of such best books on finance for non-finance managers to read in 2021 –
- Finance for Non-Financial Managers (Briefcase Book Series) ( Get this book )
- The Essentials of Finance and Accounting for Nonfinancial Managers ( Get this book )
- Finance for Non-Financial Managers and small business owners ( Get this book )
- HBR Guide to Finance Basics for Managers (HBR Guide Series) ( Get this book )
- Finance for the Nonfinancial Managers ( Get this book )
- Finance and Accounting for Nonfinancial Managers: All the Basics You Need to Know ( Get this book )
- Finance & Accounting for Nonfinancial Managers ( Get this book )
- The McGraw-Hill 36-Hour Course: Finance for Non-Financial Managers (McGraw-Hill 36-Hour Courses) ( Get this book )
- Finance & Accounting for Non-Financial Managers ( Get this book )
- Finance for Strategic Decision-Making: What Non-Financial Managers Need to Know (J-B-UMBS Series) ( Get this book )
Let us discuss each of the finance for non-finance managers books in detail along with its key takeaways and reviews.
#1 – Finance for Non-Financial Managers, Second Edition (Briefcase Book Series)
by Gene Sicilliano
This is one of the books that you can start with. This is particularly written for non-financial managers. Find out more in the review and best takeaways.
The author has written this book in a very lucid manner. Even if finance is a dry and complex subject, while reading this book, you won’t feel the same. Each section contains examples so that you can quickly run through them and understand what the section is all about. And as per some readers, the author has mixed humour in such a way that you will thoroughly enjoy reading this book. This is not a detailed book, though. If you are a beginner in finance and want to understand why and how of it, then you definitely should pick it up.
The best takeaway
There are few things for which you should buy this book –
- It covers the foundational knowledge so well that after reading this book, you can think of reading a detailed, advanced book on finance.
- It’s full of examples, anecdotes, and humor.
- It’s very easy to read and doesn’t contain any complexity in any section.
- It’s reasonably priced and value for money.
#2 – The Essentials of Finance and Accounting for Nonfinancial Managers
by Edward Fields
Even if you have never felt the need to understand numbers before, this book will come to your aid. It will help you understand the basic numbers and how you can eventually be master of it.
You can’t understand finance unless you have the foundational knowledge of accounting. This book will teach you how you can understand the balance sheetsBalance SheetsA balance sheet is one of the financial statements of a company that presents the shareholders' equity, liabilities, and assets of the company at a specific point in time. It is based on the accounting equation that states that the sum of the total liabilities and the owner's capital equals the total assets of the company., cash flow statementsCash Flow StatementsStatement of Cash flow is a statement in financial accounting which reports the details about the cash generated and the cash outflow of the company during a particular accounting period under consideration from the different activities i.e., operating activities, investing activities and financing activities., income statement, and annual reports. Everybody who has read this book has transformed their way of looking at finance altogether. But there’s one warning sign. The text is dense, and you need to make an effort to read every chapter. However, if you’re eager to learn finance, that won’t be an issue.
The best takeaway
Here are the reasons for which you should buy the finance for the non-finance book –
- It’s more than 40,000 copies sold, and it’s a perfect reference book for nonfinancial managers.
- If you don’t understand numbers at all, you will find it invaluable as it’s full of case studies, concepts, terminologies, and glossaries.
- You will learn budgeting, cash flowCash FlowCash Flow is the amount of cash or cash equivalent generated & consumed by a Company over a given period. It proves to be a prerequisite for analyzing the business’s strength, profitability, & scope for betterment. , balance sheet, fraud detection tools and much more.
#3 – Finance for Non-Financial Managers and small business owners
by Lawrence Tuller
Managers who work in big and small organizations and who are part of marketing, sales, human resources and operations are not very good with finance. For them this book is an invaluable resource.
If you’re confused about which book to pick up as non-financial managers to understand the nitty-gritty of finance in the most practical format, pick this book up. It’s quite old. Thus the fundamentals in this book are clear and concise. Don’t demean this book because it was written almost nine years ago. If you ever have doubts about it, just look at the name of the author. He is a Harvard scholar and author of 27 books. This book is thus particularly useful for people who are directly or indirectly related to business and who need to understand cash managementCash ManagementCash Management refers to the appropriate collection, handling, & disbursement of cash for ensuring financial stability & avoiding insolvency risk. , banking, planning, obtaining capital, and so on and so forth.
The best takeaway
Following are the reasons for which you should buy this finance for non-finance book –
- The author is an authority on the subject. Other than being a Harvard graduate, he has owned and operated 12 separate businesses. So whatever he shares is useful advice.
- Old is gold, and after reading this book, you would say the same thing.
- It’s not a book that only blabbers about theory. It’s practical, and you will be able to relate to practical business.
#4 – HBR Guide to Finance Basics for Managers (HBR Guide Series)
If you’re into learning, you may have heard about Harvard Business Review. They create books, articles, and products that are of immense help to the students of business. This guide is also similar.
Suppose you start off a business. Now, do you know when you would break even? Or how should you calculate the break-even point? If you’re a beginner in finance or just need a refresher, pick this book up, and you would learn the basics of finance within 192 pages. This book is significant not only because it’s lucid or short; rather, it will tell you everything behind everything. The question ‘why’ is very important. Picking up this book will help you get the answer of ‘why’ in finance.
The best takeaway from this book
Here are the best things you will learn from this finance for the non-finance book –
- You will begin to understand the jargon of finance in a lucid manner. After reading this book, when someone would mention the term, you won’t stumble with it.
- You will learn to use financial data to find out whether you can accept any more budget requests or not.
- You will learn to do the math of finance to understand cost-benefit, ratio analysisRatio AnalysisRatio analysis is the quantitative interpretation of the company's financial performance. It provides valuable information about the organization's profitability, solvency, operational efficiency and liquidity positions as represented by the financial statements., and you will also begin to decipher the financial parts of your rivals.
#5 – Finance for the Nonfinancial Managers
by Herbert T. Spiro
Even if you’re not directly related to finance, in this age of cutting edge competition, it’s prudence to have yourself equipped with tools and concepts of finance. Finance is the core of any business, and without the knowledge of finance, you may miss something under the appearance of triviality.
Most books are able to only touch the scratch on the surface. Few are able to cover the fundamentals in a lucid manner. Only very few books are able to instil confidence in you about finance. This particular book will be able to make you confident about finance. It doesn’t cover anything complex in its 320 pages manual, but by reading it, you will become good with numbers in finance. Professionals who have read this book have reported that from completely delusional about finance, they have become the appreciators of the financial data in reports.
The best takeaway
Following things, you will learn from the book –
- First of all, you will be able to apply break-even analysesBreak-even AnalysesBreak-even analysis refers to the identifying of the point where the revenue of the company starts exceeding its total cost i.e., the point when the project or company under consideration will start generating the profits by the way of studying the relationship between the revenue of the company, its fixed cost, and the variable cost. after reading this book.
- You would be able to create Profit and Loss accounts and budgets BudgetsBudgeting is a method used by businesses to make precise projections of revenues and expenditure for a future specific period of time while taking into account various internal and external factors prevailing at that time..
- You will be able to interpret the balance sheets of your company and of your rivals.
- You will also gain enough expertise to understand other related financial statementsFinancial StatementsFinancial statements are written reports prepared by a company's management to present the company's financial affairs over a given period (quarter, six monthly or yearly). These statements, which include the Balance Sheet, Income Statement, Cash Flows, and Shareholders Equity Statement, must be prepared in accordance with prescribed and standardized accounting standards to ensure uniformity in reporting at all levels. like income statement, cash flow statement, etc.
#6 – Finance and Accounting for Nonfinancial Managers: All the Basics You Need to Know
by William G. Droms & Jay O. Wright
The main characteristic of this book is its case studies. You can’t miss this book if you’re new in finance.
This book is different in a way that connects real-life with bookish knowledge. Financial concepts are useful when non-financial managers can apply them in real life. By taking the help of this book, they really can. First of all, it’s full of practical examples; secondly, it doesn’t seem tough at all even if you’re coming from a non-technical background; thirdly, it gives you enough depth to understand the on-going financial affairs of the company. In a sense, it’s a complete book for non-financial managers.
The best takeaway
Here are the reasons for which you should buy this book –
- It would help you make decisions regarding long term investments.
- You will not only learn the basics of finance, but you will also get to know to account through and through.
- You will learn to read balance sheet and interpret financial statements.
- You will also be able to do break-even analysis for understanding revenue and how much profits you can make at the end of the day.
#7 – Finance & Accounting for Nonfinancial Managers
by Steven Finkler
This book will help you understand financial management from the core. And you will also get a CD-ROM with interactive excel templates.
This book is one of its kind because it claims to meet all your needs in regards to financial terms, jargon, concepts, and a basic understanding of finance. The best part of this book is the inclusion of an excel application, which is invaluable to non-financial managers. This book will not only help you understand concepts, but it will also help you make critical decisions on behalf of your firm. What seemed to you as gibberish, after reading this book, will make perfect sense. What more can you ask for from a book?
The best takeaway
You should buy this book for the following reasons –
- This book is recognized as the best book on the subject. It’s also recommended for graduate course study.
- People who are from different domains like Engineers, Architects, etc. can also learn a lot from this book. This book is not only applicable to managers or people who have business acumen, but also for those who don’t have anything to do with business.
- This volume has 23 chapters, and it’s 352 pages. If you can read this book and follow the application, you don’t need to read anything else.
#8 – The McGraw-Hill 36-Hour Course: Finance for Non-Financial Managers (McGraw-Hill 36-Hour Courses)
by H. George Shoffner, Susan Shelly, Robert Cooke
When someone tells you that you need to invest just 36 hours in understanding a subject, it becomes interesting all of a sudden. And when you’re already willing to learn finance, then nothing can stop you from understanding the subject better.
If you want to learn the foundational principles and concepts of finance under 36 hours, you shouldn’t delay. Because with this book, the demand is too high, and the supply is moderate! It has been used for the MBA course as well as understanding financial reports. People from all walks of life can read it through as a beginner course or as a refresher course. If you’re someone who doesn’t have any experience in seeing the Profit & Loss account, grab this book, and you will learn for sure.
The best takeaway from this book
There are few reasons for which you should buy this finance for non-finance managers book –
- It’s an invaluable resource for anyone who wants to learn finance. Even people who are in the finance profession have reported that this book was able to bridge some of the gaps in their understanding.
- The bridging from one career to another is very tough. If you’re planning to move to finance by any means from any other profession, pick this book up.
- It’s very reasonably priced and complete value for money.
#9 – Finance & Accounting for Non-Financial Managers
by Samuel Weaver & J. Fred Weston
This is another McGraw-Hill book which will help you understand finance better.
This book is not as exhaustive as you want it to be, but it does the work. The reason we included this book under the best finance books for non-financial managers is that many readers have recommended this book even as more proficient than an entire course. And if you can get a book of this sort in few bucks, why not try it. This is not only recommended by people who have been students but also by those who have been CFOs and executive officers of Fortune 1000 companies.
The best takeaway from this book
Here are the things you would learn from this finance for a non-finance book –
- You will not only learn the financial statements and foundation of finance; you will also learn how to align these concepts with real business scenarios.
- The best addition is performance measurements which very few books of the same domain have covered.
#10 – Finance for Strategic Decision-Making: What Non-Financial Managers Need to Know (J-B-UMBS Series)
by M. P. Narayanan & Vikram K. Nanda
Why know finance? Because you need to make many strategic decisions; and if you don’t have thorough knowledge about finance, it would be difficult to make any decision small or big.
It’s one of the books under Wiley Finance, and it talks about the basics of what non-financial managers need to know. This book is particularly for you if you don’t have any knowledge of finance. This book acts as great reference material for you. This book includes great cases and appropriate explanations for many decisions an organization makes, and these will surely help you understand the nitty-gritty of financial decision making.
The best takeaway
Here are the best takeaways –
- This book will cover topics like risk management, divestituresDivestituresDivesting, also known as divestiture, refers to the sale or transfer of the significant assets, divisions, investment of the business due to some financial, political or social reasons such as a business can sell the department which is not a core part of the business and is not providing benefits to the company so that the business can focus on the units that can provide better earnings., performance evaluation, mergersMergersA merger is a voluntary fusion of two existing entities equal in size, operations, and customers deciding to amalgamate to form a new entity, expand its reach into new territories, lower operational costs, increase revenues, and earn greater control over market share. & acquisitions, capital structure,Capital Structure,Capital Structure is the composition of company’s sources of funds, which is a mix of owner’s capital (equity) and loan (debt) from outsiders and is used to finance its overall operations and investment activities. etc.
- This book is particularly helpful if you’re in a position to make decisions, and when your decisions affect the whole organization in the long run.
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