By Jae K. Shim
Have you ever lately been promoted? Are you beginning a brand new enterprise? Do you without notice locate you have to recognize extra approximately funds than you ever anticipated, yet don't have any time for formal education? if this is the case, you would like Accounting and Finance for the Non-Financial government. no matter if you're a newly promoted center supervisor or govt, a advertising supervisor of a small corporation, an entrepreneur, or personal your individual enterprise, your effects could be measured in money and cents. you must comprehend the fundamentals of finance and accounting to make sound enterprise judgements and turn into successful.Shim indicates you the suggestions for comparing funding judgements resembling go back on funding research. one can find what you must be aware of, what to invite, which instruments are vital, what to seem for, what to do, and the way to do it. effortless to learn and beneficial, the booklet provides many functional examples, illustrations, guidance, measures, principles of thumb, graphs, diagrams, and tables that make comprehending the topic easy.Accounting and Finance for the Non-Financial govt prepares you for extra managerial tasks. you'll be higher built to organize, appraise, overview, and approve plans to complete departmental targets. it is possible for you to to again up your techniques with rigorously ready monetary help. whether or not they are in response to advertising and marketing, creation, or team of workers, by way of studying the way to imagine by way of finance and accounting you could intelligently show your principles.
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Additional info for Accounting and Finance for the NonFinancial Executive: An Integrated Resource Management Guide for the 21st Century
Rent, property taxes, insurance). As sales increase, ﬁxed costs do not increase; therefore, proﬁts can increase rapidly during good times. However, during bad times ﬁxed costs do not decline, which causes proﬁts to fall rapidly. What Can You Do About Your Departmental Costs? , direct material, direct labor). Thus, a 20% increase in variable cost accompanies a 20% increase in sales. Semivariable (mixed) costs include the costs that are part ﬁxed and part variable. A semivariable cost varies with changes in volume but, unlike a variable cost, does not vary in direct proportion.
How would a change in the mix of products sold affect the break-even and target volume and proﬁt potential? 2 WHAT AND WHY OF BREAK-EVEN SALES Break-even analysis, which is part of CVP analysis, is the process of calculating the sales needed to cover your costs so that there is zero proﬁt or loss. The break-even point that is arrived at by such analysis is important to the proﬁt planning process. Such knowledge allows managers to maintain and improve operating results. It is also important when introducing a new product or service, modernizing facilities, starting a new business, or appraising production and administrative activities.
For example, depreciation expense is a noncash charge. To ﬁnd the cash break-even point, the noncash charges must be subtracted from total ﬁxed costs. Therefore, the cash break-even point is lower than the usual break-even point. 9 — If the selling price is $25 per unit, the variable cost is $15 per unit, and total ﬁxed cost is $50,000, which includes depreciation of $2,000, the cash break-even point is: $25 U = $15 U + $48,000 $10 U = $48,000 U = 4,800 You must sell 4,800 units at $25 each to meet your break-even point.