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Editorial Reviews
About the Author
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.
Review:
4.3 out of 5
86.00% of customers are satisfied
5.0 out of 5 stars An clearly written and well organized primer
Financial Intelligence for IT Professionals seeks the elusive sweet spot between being approachable on the one hand and substantive on the other. If you are looking for the bible of corporate finance or an alternative to an MBA, you'll probably be disappointed. If, on the other hand, you or your employees would benefit from a clearly written and well organized introduction into corporate finances, you really can't go wrong. Berman and Knight do an excellent job covering the basics, including income statements, balance sheets, cash flows, ratios, and measures of investment/project performance. The examples provided are simple enough to illustrate the concepts without feeling dumbed down. I was particularly impressed with the clear manner in which the concept of cash flow was presented, as, in my experience, the difference between income and cash is a topic often misunderstood by folks without financial training. In addition to the concepts listed above, the authors make it a point to highlight how financials can be influenced, intentionally or not, by the assumptions and actions of executives and accountants.Here is where we run into my first (very small) criticism. While I appreciate the discussion of some of the `gray areas' that can be found in accounting and finance, I think the focus on fraudulent behavior is a little out of balance. Certainly there have been several great scandals over the last few years to provide fodder, but in my experience most financial executives make honest judgments to the best of their abilities, usually under tremendous pressure. My second tiny criticism is that the author's suggest a number of times that an IT leader equipped with financial knowledge can more intelligently challenge the assumptions of controllers, CFOs, etc. In my organization, this is encouraged and, frankly, expected of top level managers. In other organizations, however, questioning the CFO might get you a short trip to the unemployment office. Readers will need to use some judgment here...The book concludes with a brief discussion of the value of employee financial knowledge to the performance of the company. The case is well stated, and the author's passion for the empowering impact of financial intelligence seems genuine. I am fortunate to work for an employee owned company that really emphasizes financial understanding for all employee-owners, but I also know from prior experience that my company is the exception, not the rule.Bottom Line: This is a book whose impact on your organization will grow with the number of people who read it. So buy a few, and share them with anyone who in interested. That's what I'm going to do.
4.0 out of 5 stars Help me to understand IT issues in a big company
Help me to understand IT issues in a big company.I recommend to others that need to undestand it issues
5.0 out of 5 stars Obligatory reading, regardless of your career background
Even with my IT and Pre-Tax Accounting experience, I learned a lot from this interesting book with many concepts expressed here that I had never heard, either in a classroom or business environment.This is a well articulated book and will keep you engaged. Please heed the previous 5 reviewers comments, as they all express well the excellent & practical contents of this book.
3.0 out of 5 stars ok
ok
5.0 out of 5 stars Financial Intelligence for IT Professionals: What You Really Need to Know About the Numbers (Financial Intelligence)
Brilliantly written, excellent in content. Having run a small IT business for 5 years between 2002 and 2007, it was amazing to see in part just why my business struggled. Currently I am in the process of reviewing the business and planning for the next phase of running the same business. This book has indeed opened my eyes. I am amazed at how much knowledge I have gained just by reading this book. The authors certainly mean it when they say, "What you really need to know about the numbers." I strongly recommend it for anyone who really wants to make their mark in the IT industry or career.
2.0 out of 5 stars How many versions are there?
I wanted the book for managers but I got one for IT professionals. Not sure if they're different but a warning would have been nice
Five Stars
Easy to understand and to the point. Will update when I finish reading :)
IT Pros please broaden your horizons
There are a lot of demands on IT leaders these days. One such demand is an understanding of the numbers. That being the financials. For some, the budget a critical management and control tool is a struggle. The book is well written, it walks you from the basics to the critical parts that matters. Understanding the fundamentals of any subject is important. The authors "hand-hold" you through the foundations, by explaining the balance sheet, the income statement, then the cashflow statement. After that they dug deeper into the essentials. As an IT Professional I was interested in the chapters on ROI (Return On Investment) because we are usually asked to articulate the return on all our projects these days. The discussion on the various ROI methods and when to use them was incredibly valuable. The advice in this book will be timeless for IT PROs. As the authors indicated, reading this book is not the end of your education but the beginning. Becoming financially intelligent and speaking the language of business is a critical skill for any IT leader.
great introduction of finance accounting
With this book you can start to learn how the income statement a d the balance sheet is structured. You'll learn also the difference berween capital expediture and operating expenses.
Five Stars
I've shared this with my IT colleagues. It's timeless advice about how finances work for corporate workers.
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Financial Intelligence for IT Professionals: What You Really Need to Know About the Numbers (Financial Intelligence)
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