Hello

[Management Student]

I realise this is mostly a site for established businesspeople, but I was hoping I might be able to find some more information, assuming that's ok, of course.

My name's Chris, and I'm currently doing an HNC in Travel and Tourism Management, a lot of which I assume involves a number of practices relating to all areas of Business.

Anyway, I'm currently looking at the Finance section of the course, which includes accounts, calculating returns, setting prices, budget forecasts etc, and the sheer number of formulae alone has got me really flummoxed, e.g., ROCE, ROEs, Gearing Ratios, calculating profit, breakeven points, what appear to be three separate calculations for assessing turnover, and the ratios for liquidity.

At the moment, there are just so many terms and sums that I need to learn and implement for my next test (which is on the 18th, so you can imagine why i'm getting a bit concerned here), and I'm really worried that I'll never get the hang of it. Is there any way you could shed some light on it, or indeed, is there a resource you can point me to that can, quite literally, give an Idiot's guide, as I think that's how simply I need the subject put at this stage? :redface:

If you could help me, it would be great. I do feel a bit daft asking, and I wouldn't normally post a query like this on a forum, but my tutors really aren't clarifying things a great deal, and I'm not finding the resources they offer as an alternative hugely helpful either.

Thanks in advance.


Chris.

[dp0848]

Try this book. I had an older copy of it when I was at university and it was very good.

http://www.amazon.co.uk/Accounting-Non-Accountants-Manual-Managers-Students/dp/0749452641/ref=sr_1_2?ie=UTF8&s=books&qid=1236537401&sr=8-2

David.

[KateCB]

Chiris,

the only question that is silly is the one you don't ask....

You could also search Google for definitions of ROI etc; these may make things clearer for you.

Kate

[DFL]

Although ignore all information on the Replublic of Ireland :)

[dp0848]

Although ignore all information on the Replublic of Ireland :)

Hahaha. Don't give up the day job Jason. :rolleyes:

[dp0848]

Also try a Google search for "Accounting ratios"

[Management Student]

Thanks for this information everybody. I've just ordered a copy of the book you suggested from Amazon, and I'll do that Google search now.

Hopefully everything'll become clearer. Tricky subject, this...

C

[yorkshirejames]

Anyway, I'm currently looking at the Finance section of the course, which includes accounts, calculating returns, setting prices, budget forecasts etc, and the sheer number of formulae alone has got me really flummoxed, e.g., ROCE, ROEs, Gearing Ratios, calculating profit, breakeven points, what appear to be three separate calculations for assessing turnover, and the ratios for liquidity.

I have known some very senior accountants who know nothing of the above, but still manage to bull**** their way through life.

[yorkshirejames]

thats clever - I actually typed all the letters of that naughty word, but the forum has converted it to stars.