Assessing Your Company’s Financial Literacy

In order for business owners and managers to make the best business decisions for the future sustainability and growth of their businesses, they must understand their financial statements. In Assessing Your Company’s Financial Literacy, Gary Vaughan discusses why it’s important for every business owner to have a basic understanding of financial principles and gives an overview of the most important concepts. As he explains, trying to understand financial statements and ratios without any training is no different than trying to understand a foreign language without having had any prior instruction. In this book, Gary helps readers understand how to read and analyze their company’s financial statements, as well as the importance of benchmarking financial performance against various sources in order to gauge performance against industry standards. In addition, you’ll learn how the various liquidity ratios help you understand how your business is performing, as well as calculating break-even points, budgeting and accounts receivable, among others.