Financial Management 101 Get a Grip on Your Business Numbers

ISBN-10: 1551808056

ISBN-13: 9781551808055

Edition: 2nd 2007

Authors: Angie Mohr

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The fastest-growing segment of the business world in the US is small business. But as Angie Mohr says, "Most entrepreneurs still spend more time researching which car to purchase than they do in planning their businesses!" "Financial Management 101 is the second book in the "Numbers 101 series. This book covers business planning, from understanding financial statements to budgeting for advertising. Angie Mohr's easy-to-understand approach to small-business planning and management ensures that the money coming in is always greater than the money going out! "Even Microsoft and Ford started in someone's basement or garage," says Angie Mohr. "But people all over the world have been given an idealized and unrealistic view of how to operate a business, and most discount the importance of the basics." "Financial Management 101 is an in-depth but easy-to-read guide on business planning. It's a kick-start course for new entrepreneurs and a wake-up call for struggling small-business owners.
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Book details

List price: $16.95
Edition: 2nd
Copyright year: 2007
Publisher: Self-Counsel Press, Incorporated
Publication date: 9/1/2007
Binding: Paperback
Pages: 184
Size: 8.50" wide x 10.25" long x 0.50" tall
Weight: 1.078
Language: English

Refresher: Balance Sheet, Income Statement, and Cash Flow Statement
The Balance Sheet
The Income Statement
The Cash Flow Statement
Chapter Summary
Basic Budgeting
The Monthly Budget Report
Where Do the Numbers Come From?
Chapter Summary
Variable versus Fixed Costs: Why You Need to Know the Difference
Fixed Versus Variable Expenses
Variable expenses
Fixed expenses
Why is Cost Behavior Important to My Business?
Break-even point
Chapter Summary
Ratio Analysis for Fun and Profit
The Basic Ratios and What They Tell You
Solvency or liquidity ratios
Asset and debt management ratios
Profitability ratios
Which Ratios Should My Business Track?
When Good Ratios Go Bad: What to Do When There's a Problem
Chapter Summary
Understanding the Operating Cycle
The Operating Cycle
The operating cycle timeline
The Cash Flow Report
Bringing it all together
Chapter Summary
Pricing Your Product or Service
Cost-Plus Pricing
Value Pricing
Competitive Pricing
Consumer Demand
Other Pricing Considerations
Pricing services
Penetration pricing
Pricing below your competition
Psychological pricing
Discount pricing
Chapter Summary
Key Performance Indicators: Your Keys to Success
How Do I Figure Out What My CSFs Are?
How can I measure my CSFs?
What Happens When My Key Performance Indicators Start to Slide?
Chapter Summary
Getting a Grip on Your Inventory
Types of Inventory
Service business
What's Included in the Inventory Costs?
Inventory Management Techniques
Manual tracking
The ABC management system
Economic order quantity (EOQ) model
Chapter Summary
Accounts Receivable: The Money Coming In
The Sales Cycle Revisited
Setting Up Your Credit Policy
Terms of sale
Credit decisions
Collection policies
Factoring Receivables
Should I Hire a Collection Agency?
Monitoring Your Receivables
Chapter Summary
Accounts Payable: The Money Going Out
Supplier Financing
Tracking Due Dates
What Happens If I Fall Behind?
Chapter Summary
Buying New Things: Are They Going to Pay for Themselves?
Projected Benefits
Discounted Cash Flows
The Scarcity of Resources (or "There's Only So Much Cash")
Chapter Summary
What's Not Showing on Your Financial Statements
The Six Big Risks
Operating lease obligations
Lack of adequate insurance
Personal guarantees
Economic dependence
Foreign exchange exposure
Interest rate exposure
Risk Management for Entrepreneurs
Chapter Summary
Investor and Manager: The Split Personality of the Small Business Owner
The Small Business Manager
The Small Business Investor
Chapter Summary
Growing Your Business
The Three Methods of Business Growth
Attract New Customers
Sell Them More
Sell to Them More Often
Tracking Your Business Growth
Chapter Summary
Facing the Scary, Two-Headed Banker Monster
Lending Money 101
Getting to Know and Love Your Banker
The Lending Proposal
The Care and Feeding of Your Banker
Other Dance Partners
Your Credit Score
Chapter Summary
Managing Debt
Understanding Debt Service
Debt service ratio
How Do I Calculate My Cost of Borrowing?
Bank loans
Lines of credit
Credit Cards
Capital leases
The government
The Danger of Leverage
The Debt Diet Plan
Chapter Summary
Compensating Employees
What Are Your Employees Worth to You?
Office Assistant
What Are Your Employees Worth to Someone Else?
Sick Days
Performance-Based Compensation: Paying for Value
The Performance Evaluation Process
Keeping Tabs on Employee Performance
Chapter Summary
Pulling It All Together: The Planning Cycle
The Planning Cycle
The flash report
The monthly management operating plan
Fine Tuning
Chapter Summary
The Monthly Management Operating Plan
Present Value of $1
Resources for the Growing Business
Typical Balance Sheet
Income Statement
Cash Flow Statement
Monthly Budget Report
Cash Flow Projection
Inventory Tracking Sheet
Aged Accounts Receivables Report
Quarterly Performance Review
The Operating Cycle
ABC Tracking Method
EOQ Model of Inventory Management
A Quick Reference to Ratios
Business Risk Profile
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