FINANCE FOR NON FINANCE
Ideas behind the numbers
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E-Book ISBN : 978-93-84061-42-5
TO MY WIFE EKTA
AND MY SON TIRTH ,
MY STRENGTH AND
MY ENDURANCE
ACKNOWLEDGEMENTS
Any work of knowledge or art is never complete without the blessings of Goddess Saraswati and Lord almighty Sri Krishna. I am indeed grateful to them for enabling me to complete this work and am hopeful that it will prove useful to the readers of this book. I am especially grateful to my Guruji, Shri Prafulbhai Shukl for showing me the direction of the almighty.
At the forefront, though my name is mentioned as an author, there are innumerable silent contributors who brought this book to its manifestation. It may be difficult to mention all the contributors but a very big heartfelt thank you to all of you for being my support during this journey.
I am very thankful to my family, who have created a very congenial atmosphere and have ensured that I am always at my creative best, to write books like these. Their support is beyond words.
Next I would like to thank my organisation, Synthesis Group for having faith in my abilities even at the most trying times and motivating me to excel in my professional life, the experiences of which I could present in this book.
Immense thanks to all my partners including Mr. Manish Modi (Intellivate Capital), Mr. Amit Kothari (Aurum Capital), Mr. Samir Sanghvi (Manish Modi & Associates), Mr. Akshay Kenkre (Transprice) and their teams for the continuous support and guidance.
I would also like to thank all my friends who agreed to go through the manuscript of this book and gave their valuable insights to make this book more useful.
What started as a small thought of making people more financially savvy, today has fully grown into an ecosystem, where creation, protection and growth of wealth for everyone has become, a manifestation.
Vishal Thakkar
FOREWORD
While my previous book Balance Sheet A Tale of Asset and Liability focused on making financial statements simpler, this book helps you to understand the fundamentals of personal and organisational finance, in a very simple way.
This book springs from my experience of interacting with and training thousands of corporate professionals across Asia Pacific, on this very subject. What is captured here is the practical How to part of finance, which not only provides knowledge updates but gives you practical solutions on application of the subject.
The essence of the book here is not a very ground breaking theory, rather what I have covered are those small details which are usually overlooked in our day to day lives. Things like what zero percent interest loans actually mean or can they actually be offered at zero percent? And How much time will it take for my money to double in a bank, are dealt with in a fashion which is easy to understand and simple to digest.
Lets face it. Finance is important and one needs to harness his / her money skills to make it to the top. In an increasingly complex and competitive world, one needs to keep up with the latest trends and also have a deep rooted understanding of finance and business fundamentals. The ideas placed here are not only applicable to for profit entities but also equally important for not-for-profit entities as well as individuals and are timeless & applicable in most geographies and situations.
TESTIMONIALS
I come from Product Design and Engineering background and being an entrepreneur you cannot ignore any aspect of Business. In my personal opinion, Engineers are good with calculations but not with finance & not everyone is fortunate enough to personally know Finance guru Mr. Vishal Thakkar closely who is already known for his bestselling book titled Balance Sheet - The Tale of Asset & Liability. Definition of Non-Finance person is so clearly explained in of this book that it got registered with me permanently. The overall content is nicely explained in laymans language that it makes you comfortably understand finance. I recommend this book to all who wish to remove their fear for finance and welcome it with open arms.
RACHIT VORA, DIRECTOR
NANONINE INNOVATIVE KITCHENWARE, MUMBAI.
I loved and thoroughly enjoyed reading this book. All the concepts have been explained in such a simple yet such an effective manner. I feel this book should be made a part of curriculum for all post graduate studies. A must read for all freshers moving from Campus to Company. This brilliant piece of work.
LOPESH DALAL, BUSINESS COACH,
MSE ASIA, MARKETING & SALES EXCELLENCE
The book has a conversational style and successfully explains complex financial concepts in a very simple manner. Vishal has even managed to include humour in an otherwise technical subject which will keep the readers interested. The book flows logically and is well structured. In particular, I like the fact that each chapter has been well summarised at the end and is followed with a tutorial to re-inforce the learnings. I recommend the book for everyone who has dealt with or aspires to deal with money matters both at home and at work.
JERRY BINDRA, CEO
CHORUS CALL
I must compliment you for writing such an outstanding book. All the concepts have been well explained and the language used is so simple and easy to understand. Examples are very apt and precise. This book is a must read for Gen Y & Z who does not believe much in savings. The book has also personally been an eye opener for me.
POOJA DALAL, SENIOR MANAGER
HR TALENT MANAGMENT
RPG RAYCHEM
ABOUT THE BOOK
The book is structured in such a way, that it will not just provide you with the knowledge you need for making better financial decisions, but also it will serve as a definitive guide to internalize the knowledge so gained and also help you to put it into practice. Eventually, if you follow the steps suggested here, financial prudence will become a habit.