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

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Harvard Business Press, 2008 - Business & Economics - 292 pages
As an HR manager, you're expected to use financial data to make decisions, allocate resources, and budget expenses. But if you're like many human resource practitioners, you may feel uncertain or uncomfortable incorporating financials into your day-to-day work.

Using the groundbreaking formula they introduced in their book Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean, Karen Berman and Joe Knight present the essentials of finance specifically for HR experts.

Drawing on their work training tens of thousands of managers and employees at leading organizations worldwide, the authors provide a deep understanding of the basics of financial management and measurement, along with hands-on activities to practice what you are reading. You'll discover:

· Why the assumptions behind financial data matter
· What your company's income statement, balance sheet, and cash flow statement really reveal
· Which financials may be needed when you're developing a human capital strategy
· How to calculate return on investment
· Ways to use financial information to better support your business units and do your own job
· How to instill financial intelligence throughout your team

Authoritative and accessible, Financial Intelligence for HR Professionals, empowers you to "talk numbers" confidently with your boss, colleagues, and direct reports -- and understand how the financials impact your part of the business.
 

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Contents

Title Page Copyright Page Dedication PREFACE
Part One The Art of Finance and Why It Matters to
You Cant Always Trust the Numbers
Spotting Assumptions Estimates and Biases
Why Increase Your Financial Intelligence?
Part Two The Many Peculiarities of the Income Statement
Profit Is an Estimate
Cracking the Code of the Income Statement
The Income Statement Affects the Balance Sheet
Part Four Cash Is King
Cash Is a Reality Check
Profit Cash and You Need Both
The Language of Cash Flow
How Cash Connects with Everything Else
Why Cash Matters
The Power of Ratios

Revenue
Costs and Expenses
The Many Forms of Profit
Part Three The Balance Sheet Reveals the Most
Understanding Balance Sheet Basics
Assets
On the Other Side
Why the Balance Sheet Balances
Leverage Ratios
The Building Blocks of
The Magic of Managing the Balance Sheet
Financial Literacy Transparency and Corporate
APPENDIX A Sample Financials
KimberlyClark and FedEx
INDEX
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About the author (2008)

Karen Berman and Joe Knight founded the Business Literacy Institute. They train managers at some of America's biggest and best-known companies. John Case has written or collaborated on several successful books. He has also written for Inc., Harvard Business Review, and other business publications.

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