The guide looks at having the proper controls and oversight in place become crucial to success, especially in fleet management. How does lifecycle cost analysis help quantify the decision-making process for determining when a piece of equipment needs replacing? How can fleet managers use benchmarking principles to ensure their fleet operates at its optimum?

‘At the heart of almost every enterprise is a need to know where and how expenditures are flowing,’ said NAFA chief executive officer Phillip Russo. ‘The people who succeed are those who have a firm grasp of what their costs are and are continually making sure those costs fall comfortably within budgeted expenses. That's not always an easy task to accomplish, but NAFA's Financial Management Guide is a tremendous resource for making this aspect of fleet work for fleet professionals.’

With 178 pages and four useful annexes, the new Financial Management Guide will provide a basic understanding of financial management to help fleet managers perform essential job duties. 

Topics addressed include:

• Typical costs of fleet operations
• Organisational characteristics that might lead to the adoption of specific cost recovery options
• Company vehicle acquisition options and various financing alternatives that should be considered in order to select the most advantageous funding method for your organization
• Tax implications for personal use, both in the US and in Canada

Annexes feature lease, IRS, and Revenue Canada definitions, as well as an easy-to-understand accounting primer that builds upon basic accounting facts.

To find out more about NAFA’s Financial Management Guide, visit the NAFA Store at: http://www.nafa.org/finanmgt