Book Review: The second edition of the book will be helpful for students, non-professionals too
Praggya Guptaa | August 26, 2019
Finance for Non-Finance People
(Second Edition, 2019)
By Sandeep Goel
Published by Routledge
Finance is not only the language of business anymore or limited to the function of the finance officer but it has become the need for the professionals in every function of the organisation. For those without a background in finance, it may be perplexing, but they now have a help, in a new book.
The book covers the basic requirements that an operating manager of today needs to decipher the implication of decisions on various areas of business. It broadly covers entire finance and accounting in eight parts which enable a manager to discuss various issues about the organisational decision-making.
The book, now in second edition, is written by Dr Sandeep Goel, an associate professor of accounting and finance at MDI, Gurgaon. An SRCC graduate, Dr Goel has tried to generate practical insights and gain a swift appreciation of the fundamentals of finance and accounting and explain things with a lot of relevant real corporate cases and illustrations.
The book covers major indicators that a professional need to check while going for investments, and in strategic management decisions from fundamentals to financial statements analysis, cost accounting and management, mutual funds, capital budgeting, cash flows, working capital management, dividend policy, and merger and acquisition.
It also touches upon an important facet that is the need of the hour – Corporate Governance. A chapter devoted to it covers the concept and principles of corporate governance while introducing corporate governance regulations in India.
The book is a good read for managers, senior managers, middle-level executives in non-financial positions who need to improve their financial skills for critical business decisions involving cost savings, budgets, projects, growth strategies, etc.
Dr Goel has authored 10 books, including on financial management practices in India and financial statement analysis, and has over 75 articles in journals. Not only professionals, the book is also helpful for students with no finance or accounting background who are pursuing executive management. It helped me with my executive management course.
The author has dedicated two chapters to taxation in the second edition, on direct tax - Income Tax and indirect tax- GST. Both are in news, and often cause of much confusion. The book will serve also as a primer to these tax reforms.
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