Effective Financial Management: The Cornerstone for Success

Front Cover
Business Expert Press, Jun 15, 2011 - Business & Economics - 200 pages
In a fast changing world, brimming with social and economic uncertainty, financial information plays a vital role in the life of an organization and does so with two sets of eyes. One set looks back to see what has happened. This is the accounting function, which is simply about the recording of events and the production of the financial reports that satisfy the stewardship responsibility of management. The other set looks forward to determine the most appropriate strategic direction for an organization, guiding managerial actions, motivating behaviors, and creating and supporting the cultural values necessary to achieve an organizations strategic objectives. This book is all about the second set of eyes, which are the lenses of STRATEGIC FINANCIAL MANAGEMENT, that help organizations plot their way through an environment filled with opportunities and dangers. For students, aspiring managers as well as those who already have management responsibilities this book provides an insight, through the eyes of the characters of a start-up company, of some of the ideas and models that help to identify the possible strategies capable of maximizing an organization's value, which is the same as making the owners as wealthy as possible, to determine how to finance the organization in the most proper way, to allocate the collected capital in the most effective way, to monitor the implementation of the chosen strategy to see whether it is meeting the planned objectives, and to reasonably decide on the reinvestment and distribution of profits.

What people are saying - Write a review

We haven't found any reviews in the usual places.


Where Are We Now?
Where Do We Want to Be?
How Do We Get There?
How Do We Know That Weve Arrived?
Where to Next?

Other editions - View all

Common terms and phrases

About the author (2011)

Dr Geoff Turner lives in Cyprus and is currently the Executive Director of Mindscrossing Knowledge Centre Limited, an Associate Professor of Accounting at the University of Nicosia, and joint editor of the Electronic Journal of Knowledge Management. Geoff has an undergraduate degree in accounting and a master's degree in business administration, both from the South Australian Institute of Technology, a predecessor institution of the University of South Australia. His doctorate, a PhD in Accounting, was awarded by the University of Kent at Canterbury for his thesis entitled Balancing the balanced scorecard: A new role for human resource accounting in sustaining the knowledge-based organisations of the future. His interest in this special area, extending to the broader field of intellectual capital management, which continues through the activities of Mindscrossing Knowledge Centre.

Bibliographic information