Financial Literacy for Managers: Finance and Accounting for Better Decision-Making, Second Edition

In order to understand how your business is performing right now and to evaluate, assess, and devise new strategies to boost future performance, you need information. Financial statements are a critical source of the information you need.

In direct and simple terms, Richard A. Lambert, Miller-Sherrerd Professor of Accounting at the Wharton School of the University of Pennsylvania, demystifies financial statements and concepts and shows you how you can apply this information to make better business decisions for long-term profit. You will learn to use and interpret financial data; find out what we can learn from Pepsi, Krispy Kreme, General Motors, and other companies; learn how to evaluate investment strategies; and apply your financial know-how to develop a coherent business strategy.

The Wharton Executive Essentials Series from Wharton Digital Press brings the ideas of the Wharton School’s thought leaders to you wherever you are. Inspired by Wharton’s Executive Education program, each book is authored by globally renowned faculty and filled with real-life business examples and actionable advice. Wharton Executive Essentials guides offer a quick-reading, penetrating, and comprehensive summary of the knowledge leaders need to excel in today’s competitive business environment and capture tomorrow’s opportunities.

Praise for Financial Literacy for Managers

“Richard A. Lambert not only explains, in easily understood terms and language, how financial statements work, but also how and why they are essential to decision making.”

—Blog Business World

About the Author

Richard A. Lambert is Miller-Sherrerd Professor of Accounting at the Wharton School of the University of Pennsylvania, where he teaches finance and accounting in the MBA, Executive Education, and doctoral programs. The recipient of several teaching awards, his articles have appeared in The Accounting Review, Journal of Accounting Research, Journal of Accounting and Economics, Rand Journal of Economics, and Strategic Management Journal.