One Big Investment

Who this book is for

Người làm tài chính trong doanh nghiệp Việt Nam, kế toán trưởng, phụ trách tài chính, người kiêm cả sổ sách lẫn dòng tiền ở công ty vài chục người. Người đọc là NGƯỜI LÀM NGHỀ: họ giữ con số và phải giải thích chúng, nhưng người quyết chi thường là người khác. Sách nói về tài chính DOANH NGHIỆP, không phải đầu tư hay tài chính cá nhân.

Sound familiar?

• Decides to buy a machine on the supplier's quote and a sense that it's needed.
• Doesn't count running costs, so the investment is far more expensive than the purchase price.
• Can't compare two investments because each rests on different assumptions.
• After buying, nobody checks whether it delivered what was promised.

Each chapter answers one question

1. Chapter 1: Is the purchase price the real price?

   Over five years, what will this cost me?

   The purchase price is the small part; most of the cost appears after the thing starts running.

2. Chapter 2: Should benefits I can't measure count as zero?

   Does this spend create new revenue or save costs, and how much?

   A benefit that cannot be measured counts as zero in the spreadsheet, even if it is real.

3. Chapter 3: Is a simple measure worse than a correct one?

   How many months until this pays for itself?

   Payback period is not a perfect measure, but it is one everyone understands.

4. Chapter 4: If I'm wrong, how bad does it get?

   If the benefit is only half what was expected, what happens?

   The important question is not whether it is good, but how badly things break if it is wrong.

5. Chapter 5: Who checks whether last year's investment paid off?

   Did last year's investment deliver what it promised?

   Nobody goes back to check an approved investment, so the company repeats the same mistake.