Essentials of Finance & Budgeting

From reading financial statements to mastering budget forecasts to measuring human capital, this book explains everything readers need to know to make wise financial decisions for the HR department and the organization. Today's HR professionals work side by side with senior executives to devise a strategy for their organizations and to marshal the talent and resources to implement it. That means going beyond the traditional HR domain and mastering the fundamentals of all aspects of business and management. The Business Literacy for HR Professionals series, developed in partnership with the Society for Human Resource Management, is designed to help HR professionals do exactly that. Covering essential areas such as negotiation, decision making, change management, finance, and more, these highly practical books will help HR professionals in their goal to be true strategic partners who bring additional bottom line value to their organizations. "The Business Literacy for HR Professionals Series" is a co-branded line of books developed jointly between HBSP and SHRM (the Society for Human Resource Management). This series will help HR professionals to become more influential strategic partners in their organizations by educating them in the core principles, practices, and processes of business and management. The purpose of the series is to help HR professionals develop knowledge and skills related to, but outside, the HR domain in order to make more strategic contributions to their organizations. These books will help HR professionals "have a seat at the table" by becoming more proficient and literate in critical business and management arenas, such as finance, negotiation, strategy, change management, etc. SHRM is the world's largest professional association devoted to human resource management. Representing more than 170,000 individual members, the Society's mission is to serve the needs of HR professionals by providing the most essential and comprehensive resources available. This book clearly explains how HR professionals can understand and use basic financial information and tools to: analyze key financial statements; create and implement an HR scorecard; understand the implications of tax laws; make accurate forecasts and budgets; measure and report human capital; perform cost/benefit analysis, EVA, discounted cash flow; and more...