Real-world financial management—12 commandments for the 21st century

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Features: Over the past decade, the ups and downs in the business world have taught us an undeniable fact: the rules have changed. Financial managers who aspire to success must reflect on traditional experiences and embrace a set of brand-new guiding principles. James Sagna combines vivid case studies from Fortune 500 companies to highlight the risks companies face due to traditional financial management practices. For example, it was once believed that a large amount of labor capital meant a company had strong solvency for creditors. However, now, having too much labor capital is seen as a burden on performance, breeding grounds for worsening inventory and accounts receivable issues. Even on simple matters like profitability, the same problems persist. Companies often use profitability as the sole metric to measure all customers, failing to identify profitable potential clients and mistakenly cutting out "marginal" businesses that are actually crucial to the company's operations. James Sagna discards the dogmatic teachings from his long-standing MBA courses and uses his straightforward 12 rules to provide revolutionary operational guidelines for financial managers. He covers topics such as profitability, labor capital, the CFO's focus, the financial responsibilities of non-financial personnel, strategic planning and capital budgeting, auditing and control, and risk management. Financial managers can no longer rely on yesterday's basic rules. James Sagna writes "Real-World Financial Management," an operational guide for successful financial management in the 21st century, in a vivid and un style.