The FINANCIAL — Georgian author Shalva Akhrakhadze has written a book "Financial Analysis in Practice", which is already available for Georgian customers in different bookstores.
This book is for everybody who is already familiar with the Debit and Credit and wants to understand the most important topics of Financial Analysis, Corporate Finance and Financial Mathematics in the shortest possible time. Here are different financial topics, hints and main formulas just in one book.
“I knew that there are a lot of financial books worldwide and it is very difficult to say something new in this field. But at the same time I knew that it is quite difficult to find a good book, oriented on practical usage, a book which covers many important financial topics and delivers the main massages in the simple and short way,” said Akhrakhadze. “In our century, when our time is getting more and more expansive, I believe that this kind of books is very important for business people. That was the main idea I tried to implement in my book,” he added.
The author hopes that his book, "Financial Analysis in Practice", will be interesting for people working in finance and for managers who directly, or indirectly, are related to financial decision making. Financial analysis, corporate finance and financial mathematics – these three topics are the main directions discussed in this book. As it was his dream to write a book Akhrakhadze decided to choose it as the medium for delivering his massage to the audience.
“I will start my introduction with a famous joke: one successful company had a successful Chief Accountant who had been working there for five years. Everybody considered her as one of the best accountants in the industry. But she had a very strange habit: every morning before starting work, she used to open the secret drawer and just looked in it – did not take, or put anything in it. And this happened every morning. Of course, everybody was very curious about what was in the drawer, but nobody could find it out. As everything else, the story had its end – the Chief Accountant left the company. Everybody went to the famous secret drawer and … There was just a big paper with the following information: “Debit is on the left side and the credit – on the right”,” Akhkrakahdze said.
The book has very positive reviews from many professionals aware of financial topics.
“Financial Analysis in Practice” is oriented on practical usage and it will be very important in current business environment of Georgia,” said Nikoloz Markozashvili, Professor at Free University of Tbilisi, Founder of Training Center “Sapienti Sat”. “You need to have some basic knowledge of finance to understand it. Topics discussed in this book are related to three important, practical subjects: Financial Analysis, Corporate Finance and Financial Mathematics. All themes are written tastefully, in the understandable way and the theory is illustrated on the basis of many practical cases. “Financial Analysis in Practice” can be a very good bedside book for business people,” he added.
“Financial Analysis in Practice” strikes a perfect balance between solid financial theory and practical applications,” said Irakli Khabeishvili, Group CFO, Archimedes Group. “The readers gain a strong working knowledge of today's changed financial environment, as this book examines recent financial needs and the role of finance in the business and the application of useful advices in practice. By relevant presentations, numerous examples, emphasis on using Excel spreadsheets and graphics, this book shows the readers how to increase the value of a firm. Integrated practice in the text gives you hands-on experience, using the same research tool worldwide finance professionals rely upon daily. This book is both, the ideal choice for practical uses, and a valuable reference tool for professionals throughout their business careers. I deeply believe that the reader will develop the first-hand understanding of practical financial analysis one needs for future success with Financial Analysis in Practice,” he added.
“If you love reading books only like Jane Eyre, do not read this book! If you consider the Excel just as an advance mode of calculator, do not read this book! If you believe that an accountant and a financial analyst do the same job, do not read this book,” said Giorgi Paikidze, Area Manager Caucasus, JSC Societe BIC.
“I found the edition of “financial Analysis in Practice”, which I scrutinized, fairly valuable for those who are practicing financial affairs, or are engaged in the assessment of financial statements and its accuracy, credit risk management, interest rate risk management, hedging, stock exchange, etc.,” said Maziyar Khaliliazar, Deputy Chairman, JSC Investbank. “The thesaurus of the subjects, brought into this edition, is unique of its kind and up to dated, compared with what could have been found in similar editions, published before. Reading this edition is, also, highly recommended to the students of finance, math and statistical subjects,” he added.
The author himself believes that the level of education is not satisfactory in Georgia, and the financial education is not the exception. “At the same time, from my point of view, there are some positive trends and hopefully the level of education will increase in the near future. Particularly for financial education I have to mention that the situation has dramatically improved during last 15-20 years,” he said.
“The main difficulties faced by ordinary entrepreneurs, while dealing with finance in Georgia is that unfortunately ordinary entrepreneurs have lack of finance knowledge. For example, there are a lot of examples when people from SME (Small and Medium Enterprises) do not know what is the AER (Annual Equivalent Rate, also known as effective interest rate) and this situation is frequently used for their advantage by financial institutions,” Akhrakhadze said.
Before writing this book, Akhrakhadze researched the general situation. “For me it was easy to make the research, because many people around me are employed in different industries, or have businesses. Their opinions were very interesting for me and I used some parts of their recommendations,” he said.
Discussion about this post