PREFACE 
This Handbook is intended for constant reference by all who have in 
any way to do with the finances of a business. Its particular purpose is to 
provide readily and in sufficient detail serviceable information on all 
questions which are likely to arise in the financial management of business 
organizations whether large or small. It is designed not only for the 
financial manager or treasurer but also for executives in charge of other 
departments who have their own particular financial problems to cope 
with, as well as for all who come into financial relationship with the business. 
In short, it deals with the manifold financial aspects and relationships, 
both internal and external, that go to make up the general financial manage 
ment, presenting both policies and working details. 
There would be little need for such a financial handbook if all business 
executives had ready access to a complete library of business books and 
knew where to investigate specific subjects. Unfortunately, the average 
executive is unwilling to risk the time which is involved in searching through 
many volumes in order to find the answers to the scores of questions bearing 
on financial problems which constantly arise. 
It occurred to me that if it were suggested to business executives and 
those who hope to be such that a business library of a very few books would 
be sufficient to answer 99 out of 100 questions in business and finance, 
there would be a willingness on their part to experiment. The risk is 
small. I suggest that each executive pick out two or three books dealing 
with his specialty. Most executives these days are specialists. One 
additional book should be a handbook containing in highly condensed 
form trustworthy information regarding the finances of the business as a 
whole as well as the financial aspect of its various departments. 
The books dealing with specialized subjects are numerous and most of 
them are good. In this general book we have proceeded on the theory 
that a vast volume of principles, practices, customs, statistics, laws, rules, 
and almost every kind of financial material may be made available for 
quick use when needed. One of our most successful manufacturers was 
talking with the president of a large jobbing concern. The latter with 
pride said that their credit losses were only i/ s th of 1 per cent of their sales. 
There was no approbation on the face of the manufacturer. “Don’t you 
think that is very good?” he asked. “I do not,” replied the manufacturer,