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Finance Basics. Secrets
Stuart Warner
Table of Contents
Financial awareness is fundamental to business success
Introducing business finance
1.1 Know the different business entities
1.2 Find out how a business gets money
1.3 Find out how a business uses money
1.4 Appreciate the need for record-keeping
1.5 Know what a finance department does
1.6 Understand the key financial systems
1.7 Differentiate financial and management accounting
Accounting fundamentals
2.1 Make sense of the jargon
2.2 Discover why timing is essential
2.3 Know about doubleentry bookkeeping
2.4 See how accounting systems work
2.5 Understand the balance sheet
2.6 Understand the income statement
2.7 Understand the statement of cash flows
2.8 Watch out for non-cash costs
2.9 Be aware of accounting regulation
2.10 Know who uses financial statements
Making profit
3.1 Realize that not all ‘costs’ are the same
3.2 Know what is meant by ‘profit’
3.3 Differentiate mark-ups and margins
3.4 Consider the impact of discounting
3.5 Forecast costs, volumes and profit
3.6 Know when to use CVP analysis
3.7 Know how to manage profitability
3.8 Be aware of tax
Managing cash
4.1 Understand why cash is king
4.2 Avoid the overtrading trap
4.3 Understand the cash operating cycle
4.4 Measure the cash operating cycle
4.5 Improve cash flow – 1
4.6 Improve cash flow – 2
4.7 Collect cash from customers
4.8 Prepare regular cash flow forecasts
Budgeting
5.1 Understand budgets
5.2 Follow the steps forpreparing budgets
5.3 Choose the best way to budget
5.4 Understand participative budgeting
5.5 Calculate variances from budget
5.6 Monitor budgets effectively
Evaluating business opportunities
6.1 Focus on the relevant costs
6.2 Work out if an opportunity pays back
6.3 Calculate return on investment
6.4 Understand the time value of money
6.5 Use NPV and IRR toappraise investments
Measuring business performance
7.1 Evaluate a business using ratios
7.2 Measure profitability
7.3 Measure short-term solvency and liquidity
7.4 Measure long-term solvency and stability
7.5 Calculate investor ratios
7.6 Estimate the value of a business
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Title Page
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4.1 Understand why cash is king
4.2 Avoid the overtrading trap
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