The Definitive Guide to Business Finance: What smart managers do with the numbers, Second Edition

Chapter survival toolkit

Overview

This chapter is primarily about keeping financial records and physically controlling bank balances, petty cash, expenses claims, collections and cash flow. These are the nuts and bolts of managing the numbers. The real analysis comes later. Also introduced is a concept known as accruals accounting which helps with interpretation.

The information about controlling the bank and cash balances is important for everyone, most of all for managers. As soon as financial responsibilities are delegated, there is an increased risk of sticky fingers in the pie. Managers should be especially aware of ways that corporate funds might be abused.

Prerequisites

You could perhaps read this chapter in isolation, but really it ...