The purpose of this text is to provide both independent businessmen and supervisors or managers of larger corporations with a working knowledge of finance and accountancy. Using various exercises and practical examples, the authors explain all aspects of financial management, including cost accounting, ratios, budgeting and working with company results. The book aims to provide an understanding of the language, terminology and structure of accounts in order to enable better communication with company accountants and analysts. It also explains the structure, content and purpose of main financial statements, such as profit and loss accounts, balance sheets and fund flow statements. The text then focuses on key factors which contribute to efficiency and profitability in such areas of business as production, distribution, sales and administration. It gives an understanding of the importance of managing company assets, and explores the ability to plan, evaluate and control budgets and projected budget expenditure. Finally, the book explains how to read, appreciate and review the contents of annual reports.