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

ISBN-10: 1422119130

ISBN-13: 9781422119136

Edition: 2008

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Description: Human resources managers are expected to use financial data to make decisions, allocate resources, etc. But many are uncomfortable using hard numbers in their work. Here, the authors tailor the work they introduced in 'Financial Intelligence' to present the essentials of finance specifically for HR experts.

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Book details

List price: $32.00
Copyright year: 2008
Publisher: Harvard Business Review Press
Publication date: 3/25/2008
Binding: Paperback
Pages: 320
Size: 6.25" wide x 9.00" long x 0.75" tall
Weight: 0.836
Language: English

Jason Stearnshas been working on the conflict in the Congo for the past ten years. In 2008 he was named by the UN Secretary General to lead a special UN investigation into the violence in the country. He has also worked for a Congolese human rights group, for the United Nations peacekeeping operation, and for the International Crisis Group. He is currently completing a PhD at Yale University.

Preface: What Is Financial Intelligence?
The Art of Finance (and Why it Matters to HR)
You Can't Always Trust the Numbers
Spotting Assumptions, Estimates, and Biases
Why Increase Your Financial Intelligence?
Part One Toolbox: Getting what you want; Knowing the players; Human due diligence
The (Many) Peculiarities of the Income Statement
Profit Is an Estimate
Cracking the Code of the Income Statement
Revenue: The Issue Is Recognition
Costs and Expenses: No Hard-and-Fast Rules
The Many Forms of Profit
Part Two Toolbox: Variance; Percent calculations; Line of sight
The Balance Sheet Reveals the Most
Understanding Balance Sheet Basics
Assets: More Estimates and Assumptions (Except for Cash)
On the Other Side: Liabilities and Equity
Why the Balance Sheet Balances
The Income Statement Affects the Balance Sheet
Part Three Toolbox: Employees as assets; Expenses vs. capital expenditures
Cash Is King
Cash Is a Reality Check
Profit [not equal] Cash (and You Need Both)
The Language of Cash Flow
How Cash Connects with Everything Else
Why Cash Matters
Part Four Toolbox: Free cash flow; Compensation and bonus plans
Ratios: Learning What the Numbers Are Really Telling You
The Power of Ratios
Profitability Ratios: The Higher the Better (Mostly)
Leverage Ratios: The Balancing Act
Liquidity Ratios: Can We Pay Our Bills?
Efficiency Ratios: Making the Most of Your Assets
Part Five Toolbox: Key business ratios; Key HR ratios; Understanding percent of sales; Ratio relationships
How to Calculate (and Really Understand) Return on Investment
The Building Blocks of ROI
Figuring ROI: The Nitty-Gritty
Part Six Toolbox: Step-by-step analysis of capital expenditures; Deciding about outsourcing
Applied Financial Intelligence: Working Capital Management
The Magic of Managing the Balance Sheet
Your Balance Sheet Levers
Homing In on Cash Conversion
Part Seven Toolbox: Understanding accounts receivable aging
Creating a Financially Intelligent HR Department (and Organization)
Financial Literacy, Transparency, and Corporate Performance
Financial Literacy Strategies
Part Eight Toolbox: The basics of Sarbanes-Oxley; HR and Sarbanes-Oxley
Sample Financials
Exercises to Build Your Financial Intelligence-Income Statement; Balance Sheet; Cash Flow Statement; Ratios
Kimberly-Clark and FedEx Financial Statements
Notes
Acknowledgments
Index
About the Authors
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