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This book, Basic Finance For Marketers, was prepared by the project, Network and Centre for Agricultural Marketing Training in Eastern and Southern Africa. The project, funded by the Government of Japan and executed by the Food and Agriculture Organization of the United Nations, was based in Zimbabwe and ran for five years from May 1990. Its overall objective was to strengthen agricultural marketing training in eastern and southern Africa.

Approach and objectives

This book, is one of a series of texts prepared by the Network and Centre. It is written in a style intended to provide basic, practical knowledge and techniques for marketers, untrained in the discipline of finance and accounting. It is not intended to give an all embracing discussion on the intricacies of the principles of accounting and finance but to provide sufficient knowledge for the marketer to be aware of the financial implications of decision making, and aid in the following activities of marketing:

· an assessment of how well marketing strategy is working;
· an evaluation of alternative marketing activities
· the development of future marketing plans, and
· controlling marketing activities.

The text is kept to a minimum in order to put over the principles in a concise way, but it includes both numerous worked and unworked examples in order to achieve maximum understanding and reinforcement.

The text is primarily designed as a teaching aid for marketing or agribusiness lecturers or trainers and is aimed at undergraduate or diploma students studying agricultural marketing, agricultural economics, agribusiness, management or business studies and certain professional qualifications like the Chartered Institute of Marketing Diploma. It can also be used as material for short courses, as a refresher or basic text for post graduates, for in service training of managers and as a self learning aid.

The learning process

The learning process is assisted within the text through the provision of a number of learning aids. These are:

· Chapter objectives; Each chapter has specific objectives which prepare the learner for the chapter material and outline the learning outcomes.

· Figures and tables; Each chapter is illustrated with relevant figures and tables which illustrate, encapsulate or summarize the text.

· Examples; Each chapter contains examples which serve to illustrate the text and reinforce understanding of the principles.

· Exercises; Each chapter contains both worked and unworked exercises intended to ensure the learner's understanding of both the concepts and the use of practical techniques involved in financial analysis.

· Key terms; Key terms are included at the end of each chapter and are intended to act as an aide-memoire.

· Index; A subject index is included at the end of the text to assist with quick reference.

Additional texts

The text is complemented by an additional set of learning and teaching aids as follows:

· Basic Finance For Marketers - Tutors Manual
This text contains all the exercises referred to in the text together with their solutions.

· Transparency Masters
The Transparency Masters contain a series of full colour overhead transparency masters which include all the subject matter, examples, and their solution in summarised or full format. These can be photocopied and used as additional student notes.

Authors and acknowledgements

Steve Carter was FAO project director, previous to which he taught marketing at universities in the United Kingdom, India and Africa and consulted in many developing countries around the world.

Neville J. MacDonald is a Chartered Accountant in a firm of chartered Accountants in Harare, Zimbabwe. His fields of specialisation include taxation, auditing and data processing.

Denise C.B. Cheng is a Certified Accountant, practicing in the United Kingdom.

The authors, in particular, acknowledge the contribution of those who were directly involved in the production of the texts either in providing subject matter, print production, comments or suggestions. They are indebted to the following colleagues and organisations:

Harold Angel
FAO, Rome

Edward Seidler
FAO, Rome

Anthony Ikpi
University of Ibadan

Gabriel Matandike
University of Zimbabwe

Grain Marketing Board

Tapera Baidon

Orlean Chimbewa

S. Carter
N.J. Macdonald
D.C.B. Cheng

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