Financial management involves a manager to plan, organise as well as direct financial activities within an enterprise. The role which appears simple involves making crucial decisions such as where to invest the assets, how to balance between fixed assets as well as working capital and many other things.
For those who are new to this domain, financial management can be rough water to navigate and hence we decided to help professionals master this field by listing top 5 financial management books which provide deep insight into the same.
The Basics of Public Budgeting and Financial Management
Written by renowned author Charles E. Menifield, this book on budgeting and financial management is utilised as a guide by the national governments as they create their annual financial budget. The book explains every concept pertaining to budgeting in detail, starting from theoretical concepts such as risk analysis and assessment to practical applications such as cost factor analysis and more. This book is one of the best guides for a fresher to help them understand the financial budgeting and management concepts to be applied in an organisation.
The Little Book of Behavioural Investing
Written by James Montier, The Little Book of Behavioural Investing is a guide aimed at helping individuals make rational financial management choices and overcome any obstacles they may face in doing so. Author Montier, with almost a decade of experience in the financial management and strategy, carefully and intricately explains common mistakes which people make while investing and then later gives insights into how to avoiding this. He further tends to connect the human behaviour with the investment decision they make and explains how smart traders tend to make sure that their portfolio doesn’t suffer and has a minimal risk even in the most dynamic scenarios.
The Economist Guide to Financial Management
To make wise investment decisions an individual needs to have an inside out information pertaining to the finance sector as well as various concepts involved in financial investment and management. Author John Tennet in The Economist Guide to Financial Management has tried to make the beginners familiar with the concept of financial investment and every little detail pertaining to the finance industry has been laid out clearly and in layman’s term. Starting from something as basic as budgeting report, Tennet has tried explaining the readers’ things like reading a budgeting report, analysing the capital gains etc.
Financial Management: Theory and Practice
Written by Eugene F. Brigham and Michael C. Ehrhardt, two world-famous economist as well as writers on financial investment and management, this book starts with explaining basic financial concepts only to later dwell into various methods of financial investing. Later sections of this book explain things like economic crisis as well as corporate finance, while the last section dwells into practical examples based on the concept followed by exercises for practice.
So, these are the top 5 financial management books which we would recommend everyone whether beginner or expert to read. If you have better books which you would like to recommend don’t forget to mention the name of the same in the comment section below.
