Growth and Profitability : Optimizing the Finance Function for Small and Emerging Businesses

The volume of books on finance and accounting available today embody a vast (and sometimes confusing) wilderness of complex theories and esoteric paradigms. For the typical small and emerging business owner, deciphering this body of information and knowledge can be a difficult task. Financial guru Michael Donegan offers a better alternative. Addressing the critical relationship between financial objectives and operational initiatives, he provides the conceptual framework for the small and emerging business owner to lay the foundation for a sound finance function one that not only suits current business needs but grows and evolves as the business changes. Growth and Profitability: Optimizing the Finance Function for Small and Emerging Businesses defines the finance function in layman s terms, cutting to the core of infrastructure and reporting needs. Michael Donegan s working tour of the finance and accounting function succeeds in cultivating the mind set necessary to create useful finance strategies for the novice and experienced small business owner. Donegan focuses on a pair of critical objectives: marrying the finance function to operations and creating a culture of decision making that will endure for the life of the company. These objectives converge to cultivate a strategic, proactive approach to conceptualizing, developing, and maintaining a finance function that adds value to the enterprise. In laying the groundwork for sound financial strategies, he addresses the entire scope of the accounting and finance function, including: Gathering and interpreting financial transactions and events Creating and managing the financial infrastructure (technology and people) Translating the business to financial statements in a timely and accurate manner Translating financial data into business intelligence Communicating results to stakeholders while managing expectations Growth and Profitability provides the tools to lay a relevant, scalable financial foundation quickly and cheaply, equipping the reader to preempt infrastructure issues before they become issues. Donegan further addresses the need to harness the flow of data in and out of the organization. He lays out a plan for developing a dynamic platform of fully integrated information systems and processes that will serve the growth needs of the small and emerging business regardless of its rate of expansion. In addition, he creates a methodology for defining and troubleshooting the data flow dynamic, optimizing the speed and accuracy of the decision making process. Throughout Growth and Profitability, a clear emphasis is maintained on the practical application of concepts and their relevance to the business objectives of the small and emerging business owner. Donegan illustrates how tying the finance function to operations can extend the life of the business in the midst of challenging times, and ultimately buoy it into profitability and fiscal independence. He shows how successful finance strategies are born of integrity and sense rather than dollars and cents. Growth and Profitability provides the small and emerging business owner with the edge to navigate today s difficult, high velocity business environment.