Financial Intelligence for HR Professionals : What You Really Need to Know about the Numbers

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  • Format: Paperback
  • Copyright: 2008-04-15
  • Publisher: INGRAM

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As An HR Professional, you know that companies win with talent. But business is run by numbers-and if you don't understand what the numbers mean and how they impact your business, you are limiting the role you can play in your company's success.

Author Biography

Karen Berman and Joe Knight, founders of the Los Angeles-based Business Literacy Institute, work with some of the world's best known and most respected organizations, including American Express, CVS/Caremark, General Electric, and Southwest Airlines John Case is a successful business book author

Table of Contents

Preface: What Is Financial Intelligence?p. xi
The Art of Finance (and Why it Matters to HR)
You Can't Always Trust the Numbersp. 3
Spotting Assumptions, Estimates, and Biasesp. 10
Why Increase Your Financial Intelligence?p. 17
Part One Toolbox: Getting what you want; Knowing the players; Human due diligencep. 29
The (Many) Peculiarities of the Income Statement
Profit Is an Estimatep. 35
Cracking the Code of the Income Statementp. 41
Revenue: The Issue Is Recognitionp. 49
Costs and Expenses: No Hard-and-Fast Rulesp. 55
The Many Forms of Profitp. 67
Part Two Toolbox: Variance; Percent calculations; Line of sightp. 73
The Balance Sheet Reveals the Most
Understanding Balance Sheet Basicsp. 79
Assets: More Estimates and Assumptions (Except for Cash)p. 85
On the Other Side: Liabilities and Equityp. 95
Why the Balance Sheet Balancesp. 100
The Income Statement Affects the Balance Sheetp. 103
Part Three Toolbox: Employees as assets; Expenses vs. capital expendituresp. 108
Cash Is King
Cash Is a Reality Checkp. 113
Profit [not equal] Cash (and You Need Both)p. 117
The Language of Cash Flowp. 124
How Cash Connects with Everything Elsep. 128
Why Cash Mattersp. 136
Part Four Toolbox: Free cash flow; Compensation and bonus plansp. 140
Ratios: Learning What the Numbers Are Really Telling You
The Power of Ratiosp. 145
Profitability Ratios: The Higher the Better (Mostly)p. 151
Leverage Ratios: The Balancing Actp. 157
Liquidity Ratios: Can We Pay Our Bills?p. 161
Efficiency Ratios: Making the Most of Your Assetsp. 164
Part Five Toolbox: Key business ratios; Key HR ratios; Understanding percent of sales; Ratio relationshipsp. 171
How to Calculate (and Really Understand) Return on Investment
The Building Blocks of ROIp. 177
Figuring ROI: The Nitty-Grittyp. 184
Part Six Toolbox: Step-by-step analysis of capital expenditures; Deciding about outsourcingp. 195
Applied Financial Intelligence: Working Capital Management
The Magic of Managing the Balance Sheetp. 201
Your Balance Sheet Leversp. 204
Homing In on Cash Conversionp. 210
Part Seven Toolbox: Understanding accounts receivable agingp. 214
Creating a Financially Intelligent HR Department (and Organization)
Financial Literacy, Transparency, and Corporate Performancep. 217
Financial Literacy Strategiesp. 223
Part Eight Toolbox: The basics of Sarbanes-Oxley; HR and Sarbanes-Oxleyp. 230
Sample Financialsp. 233
Exercises to Build Your Financial Intelligence-Income Statement; Balance Sheet; Cash Flow Statement; Ratiosp. 237
Kimberly-Clark and FedEx Financial Statementsp. 265
Notesp. 273
Acknowledgmentsp. 275
Indexp. 279
About the Authorsp. 293
Table of Contents provided by Ingram. All Rights Reserved.

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