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Top 10 Finance Books For Non-Finance Professionals

Finding the list of top Finance Books For Non-Finance Professionals is not an easy task. The struggle becomes exhausting when you are in search of hope to finish the financial tasks that you are not aware of. Many non financial managers have to deal with finance and accounting activities even if they belong to non-finance departments like sales, marketing, and operations. Finance books can make their lives easier as they have detailed descriptions of the finance and accounting concepts that can help in making decisions for the company’s growth. This article is written to help all non-financial professionals gain knowledge about finance books for their career progress.

10 Finance Books to Help Non Finance Professionals

Finance Books For Non-Finance Professionals

  1. The Essentials of Finance and Accounting for Nonfinancial Managers by Edward Fields

This book is one of the best Finance Books For Non-Finance Professionals. It is known to help departmental managers in understanding the numbers. It is important for a departmental manager to understand the financial information shared by their executives using income statements, balance sheets, budgets, forecasts, and annual reports. The skill to understand these financials can be gained by reading this book.

No wonder over 40,000 copies have been sold to date. It explains the role of finance and accounting in a corporation. It assists the manager to understand the link between financial fundamentals and business goals. A manager who reads this book will be able to utilize the knowledge to curate effective strategies and perform actions accordingly.

Reasons to buy the second edition of this product

The most common reasons to purchase this product are to access and learn

  • Strategies to make an effective budget
  • New practice sessions and case studies
  • Sarbanes Oxley and its usefulness to nonfinancial managers
  • Cash flow management
  • Fraud detection tools
  • Glossary for business terminology and concepts
  • Latest accounting and financial standards

About the author

Edward Fields is known for teaching a popular AMA course on accounting and finance fundamentals for decades. This individual is also contacted to resolve financial and strategic issues for multinational corporations. “Reading and Understanding Annual Reports” are also written by him.

Professional Courses from IIM SKILLS

  1. Finance for Non-Financial Managers: And Small Business Owners by Lawrence W. Tuller

If you are a manager and are struggling to get your head across finance and accounting concepts, this book is your friend. It will enlighten you on the impact of numbers on a business. Professionals who work in small-sized businesses usually choose this to gain an understanding of the basics of finance and its relevance to a company’s success. This content is created to help managers in departments other than finance. It is usually purchased by marketing managers, sales managers, and operations managers. An individual who has the task to monitor cash flow, understand financials, and is expected to perform financial planning & obtaining capital can utilize the information in this book and boost their business’s financial health.

About the author

Lawrence W. Tuller is one of the renowned authors who has written a range of books on finance and business management. He is known to be the owner of twelve companies. He graduated from the Wharton School and Harvard University. He has one CPA certification. His 27 books are written to help small business owners and entrepreneurs. “Finance for Non-Financial Managers: And Small Business Owners” is considered one of the important Finance Books For Non-Finance Professionals.

“Finance for Non-Financial Managers” and “The Independent Consultant’s Q & A Book” are his notable books.

Recommended

  1. Finance for the Non-Financial Manager by Herbert T.Spiro

This is considered a masterpiece for a manager who has to get involved in the financial matters of the company. Having a basic understanding of the latest objectives, functions, and tools related to finance is crucial for a non-financial manager. “Finance for the Non-Financial Manager” covers the critical aspects of decision-making and strategic planning which are a part of financial responsibilities.

This book has many editions and has helped managers, small business owners, and executives in dealing with the financial matters of their organizations. The latest edition has updated regulatory legislation and federal tax laws. The new tables, examples, and charts are easier to understand and promote managers in meeting their needs. Almost every aspect of finance is covered which includes economic concepts and accounting conventions. This book is useful for managers to educate themselves on banking relationships, credit policies, capital acquisitions, and security markets.

The readers get to acquire the skills to

  • Understand balance sheets
  • Design P&Ls and budgets
  • Apply break-even analysis
  • Decipher financial statements

About the author

Herbert T.Spiro works in a financial consulting firm and is the president of the American Valuation Group. He also transfers his knowledge to the students of California State University. “Financial Planning for the Independent Professional” is another book written by him that is considered one of the best Finance Books For Non-Finance Professionals.

Recommended Reads

  1. Finance and Accounting for Nonfinancial Managers; All the Basics You Need to Know by William G. Droms & Jay O.Wright

It has become crucial for nonfinancial managers to master the fundamentals of financial management to deal with keen scrutiny from stakeholders, razor-thin profit margins, and cut-throat competition. This is not just essential for financial managers but also for nonfinancial managers. This is why this book has been sent into the market; to help nonfinancial professionals understand the accounting fundamentals. The author has ensured to include illustrative case studies and step-by-step examples to allow the readers to grasp the concepts at a faster pace. Not just that, the latest trends in financial policy and economy have been mentioned in the book to keep the audience updated. This book can act as a guide to entrepreneurs, managers, teachers, students, and seasonal executives.

About the author

William G. Droms is a well-known professor at the McDonough School of Business. He is also a corporate investment and finance management consultant who has prepared several executive development programs for many managers in corporations, financial institutions, and trade & professional associations. “Food Store Financial Analysis for Store Operations People” is one of his works.

Jay O.Wright, the co-author of this book is also engaged in educating students of McDonough School of Business on various finance concepts. He has been an investment banker and a mergers & acquisitions attorney.  It has been more than a decade since he entered entrepreneurship to found and lead companies in telecommunications, technology, real estate, education industries, and software alongside serving on a few charitable and corporate boards. “Develop a Winning Mindset on and Off the Court” is another book where he has worked as a co-author.

  1. Finance & Accounting for Nonfinancial Managers by Steven A. Finkler

This is a must-buy book if you are into Finance Books For Non-Finance Professionals. Entrepreneurs who have the responsibility to prepare budgets and/or profit and loss accounts can gain a basic understanding of accounting by using this product. Any manager from nonfinancial departments like marketing, sales, operations, and production can learn the meanings of financial terms and concepts such as ratio analysis, owner’s equity, asset valuation, breakeven analysis, and capital leasing.

The third edition of this book consists of chapters that introduce tax concepts, business plans, working capital management, business plans, personal finance, accountability, and banking relationships. Some online bookstores give a CD-ROM that has interactive Excel templates to help managers in applying the techniques. You will come across the below topics in the product.

  • Basics of financial management
  • A primer on taxes
  • Accounting concepts
  • Basics of key financial statements
  • The importance of an outside auditor
  • Valuation of equity and assets
  • Recording Financial information
  • Reporting financial information
  • Business plans
  • Capital structure– equity financing and long-term debt
  • Leverage
  • Strategic planning and strategic budgeting
  • Investment analysis
  • Taxing concepts related to leasing and buying
  • Depreciation
  • Banking relationships and working capital management
  • Inventory costing
  • Cost accounting
  • Accountability and related subjects
  • In-depth explanation of financial statements
  • Ratio analysis
  • Personal finance

No wonder this book is added to the list of top Finance Books For Non-Finance Professionals.

About the author

Dr. Steven A. Finkler is a Professor at Wagner graduate school of public service who teaches accounting and financial management to students. He has won many awards for his research, teaching, and writing skills. His book “Financial Management for Public, Health and Not-For-Profit Organizations” is loved by many learners.

  1. Finance & Accounting for Non-financial Managers by Samuel Weaver & J.Fred Weston

This book is available in various formats; paperback, hardcover, and e-book. Almost everything has financial implications in a business. To understand and figure out financial implications it is necessary to have knowledge about analysis, budgeting, and reporting. This book will introduce you to these elements in a simple way. Purchasing this book is one of the best decisions you’ll make because you gain access to content on balance sheets, budgeting, financial reporting, cash flow, income statements, performance measures, financing, and investing. It allows you to become comfortable making financial decisions in a business.  The hardcover has case studies and statistics to help the readers understand the concepts in a simpler fashion. These contents made the book reach the list of top Finance Books For Non-Finance Professionals.

About the author

Samuel Weaver is a professor who serves Lehigh University. He has been a director for Lehigh’s Professional Education and MBA program. He worked in senior management roles at Hershey Foods Corporation before becoming a director of financial analysis and planning. His book “Strategic Financial Management: Applications of Corporate Finance” has become popular over the years.

J.Fred Weston is a research professional at the University of California. His contributions to finance have made a difference in the lives of his readers, especially the ones written on valuation. “Mergers and Acquisitions” and “Mergers, Restructuring, and Corporate Control” are some of the books you can look into for detailed explanations of mergers and acquisitions.

  1. Finance for Strategic Decision-Making: What Non-Financial Managers Need to Know: 27 (J-B-UMBS Series) by M. P. Narayanan & Vikram K. Nanda

This book is essential for executives who are from non-financial backgrounds and are interested in learning concepts related to finance. This book focuses on financial analysis. It helps the readers learn the art of making finance-related decisions that have a huge impact on an institution’s capacity to undertake fresh projects, deal with competitive challenges, create shareholder value, and overcome financial setbacks. This book lays a pathway for individuals seeking to improve their strategic decision-making skills. As the title says, this book is meant to teach strategic decision-making through a framework that covers the below points.

  • Importance of finance in corporate strategy
  • Guides to make decisions regarding resource allocation
  • Determination of the right balance of equity and debt capital for the maximization of a firm’s value.
  • Demonstration for using payout policy as a tool
  • Tips to identify the right decisions for a company in connection with divestiture, acquisition, and merger.
  • Risk management

About the author

  1. P. Narayanan has researched various corporate financial topics like managerial behavior, management compensation, and corporate scope. He was a professor at the University of Michigan before he was promoted to the director position for the Executive MBA program. His book “Finance for Strategic Decision-Making: What Non-Financial Managers Need to Know: 27 (J-B-UMBS Series)” is on the list of best Finance Books For Non-Finance Professionals.

Vikram K. Nanda works at the University of Michigan Business School as an associate professor.

  1. The McGraw-Hill 36-Hour Course: Finance for Non-Financial Managers 3/E (McGraw-Hill 36-Hour Courses) by Susan Shelly, Robert Cooke, & H. George Shoffner

One easiest way to decode complex financial information is by purchasing this product. High-profile fraudulent activities have taught us that an employee of the company cannot have complete knowledge about the ongoing scandals and how they impact their well-being. This third edition of the book has been introduced to understand the numbers in a company. It is designed in a way that you can grasp the concepts and subjects at your own pace. Many essential aspects of finance have been included in this book to let you think and ask questions to obtain clarity on vital financials such as reports and statements. This book sheds light on the various aspects of auditing and stock options along with sections connected with pro forma financial statements.  The best part of this content is it has quizzes at the end of each chapter and an online exam to test your knowledge. In simple words, this book is a virtual professor for people searching for the ideal Finance Books For Non-Finance Professionals.

About the author

Susan Shelly has published more than 30 books which include “The Complete Idiot’s Guide to Being a Successful Entrepreneur” and “The Complete Idiot’s Guide to Personal Finance in Your 20s and 30s”. She is also known for publishing her work for newspapers, online publications, and agencies.

Robert Cooke (Deceased) worked as a speaker, author, and consultant for two decades. He was also one of the owners of many successful businesses.

  1. Health Care Finance: Basic Tools for Nonfinancial Managers 5th Edition by Judith J. Baker

This book explains basic tools for assisting nonfinancial managers. Any individual aspiring to get a better understanding of healthcare financial management can pick this book. Real-life examples from hospitals, home health agencies, and long-term care services are presented in the book. This is a user-friendly product that allows the nonfinancial manager to handle budgeting with the help of its practical information. Six new topics have been added in the latest edition which covers a range of topics linked to strategic relationships, big data, new payment methods, MIPS & APMS, and value-based health care. “The Doctor’s Dilemma”, a new case study has been added to offer useful reference material to create a DRG budget and review a comparative operating budget report. Now you know the book is on the list of top Finance Books For Non-Finance Professionals.

About the author

Judith J. Baker is a partner and executive director of a resource group which is based in Dallas. She is a very experienced healthcare professional who has vast knowledge about costing systems and healthcare systems. She has spent most of her life with reimbursement, costing, and systems linked to healthcare. She has a Ph.D. and is a CPA. “Essentials of Cost Accounting for Health Care Organizations”, “Prospective Payment for Home Health Agencies”, and “Practical Finance for Pharmacists” are some of the books authored by her.

  1. Finance for Nonfinancial Managers, Second Edition (Briefcase Books Series) by Gene Siciliano

This book series is useful to nonfinancial managers in understanding financial reports with unique hacks for budgeting and identifying key financial areas. It educates the learners on income statements, balance sheets, and income statements. Content on cost accounting to make the reader understand the assessment of products and services for the firm is shared in a dedicated section. This book is like a guide to managers as it has tips and procedures to improve the company’s growth through overseeing operational planning, strategies, and mistake-proofing. Useful sidebars and checklists to simplify the concepts for the managers are also included in the book.

About the author

Gene Siciliano is a consultant, author, executive coach, and speaker. He is known to utilize his Fortune 500 books linked to finance to assist business managers get a grasp on financial tools and thereby changing the fate of their companies. ”Finance for Administrative Assistants” is one of his books that are being sold in the market.

Conclusion on Finance Books For Non-Finance Professionals

Many times nonfinancial managers like marketing managers, operations managers, production managers, and sales managers are expected to oversee financial activities. It is not easy to supervise a department or operation without knowledge. That’s when books and other content come into the picture. Reading books to understand accounting concepts and tips to manage financial tasks is the key to dealing with things like a boss. Picking the right product from the above list of Finance Books For Non-Finance Professionals will smoothen the professional journey of a nonfinancial manager.

FAQs on Finance Books For Non-Finance Professionals

What can a non-financial manager do if he is assigned financial tasks?

The best way to handle finance tasks when you don’t have the required knowledge is to read finance books and learn processes from your colleagues to understand the financial operations and make decisions accordingly.

Who are some of the well-known authors in the finance industry?

The below list of authors are famous and well-trusted individuals in the finance sector

  • Edward Fields
  • Lawrence W. Tuller
  • Herbert T.Spiro
  • William G. Droms & Jay O.Wright
  • Steven A. Finkler
  • Samuel Weaver & J.Fred Weston
  • P. Narayanan & Vikram K. Nanda
  • Susan Shelly, Robert Cooke, & H. George Shoffner
  • Judith J. Baker
  • Gene Siciliano

Can you suggest the best Finance Books For Non-Finance Professionals?

Yes, below are a set of finance books that can help anyone gain insights into financial operations and use it for their career progress.

  1. The Essentials of Finance and Accounting for Nonfinancial Managers by Edward Fields
  2. Finance for Non-Financial Managers: And Small Business Owners by Lawrence W. Tuller
  3. Finance for the Non-Financial Manager by Herbert T.Spiro
  4. Finance and Accounting for Nonfinancial Managers; All the Basics You Need to Know by William G. Droms & Jay O.Wright
  5. Finance & Accounting for Nonfinancial Managers by Steven A. Finkler
  6. Finance & Accounting for Non-financial Managers by Samuel Weaver & J.Fred Weston
  7. Finance for Strategic Decision-Making: What Non-Financial Managers Need to Know: 27 (J-B-UMBS Series) by M. P. Narayanan & Vikram K. Nanda
  8. The McGraw-Hill 36-Hour Course: Finance for Non-Financial Managers 3/E (McGraw-Hill 36-Hour Courses) by H. George Shoffner, Robert Cooke, and Susan Shelly
  9. Health Care Finance: Basic Tools for Nonfinancial Managers 5th Edition by Judith J. Baker
  10. Finance for Nonfinancial Managers, Second Edition (Briefcase Books Series) by Gene Siciliano

Anuja Maniyala is a intern at IIM SKILLS. She worked as a creative content writer for AADOX and Quoteslyfe in the past. She has identified her passion for writing after working as a banker in some well-known companies like Wipro and HSBC. Her current target is to become an author of a unique and creative self-help book. Her enthusiasm and curiosity to learn about the human mind and behavior makes her different from the rest of the world.

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