Is financial literacy your weakest link? Rectify that right now!

You might be able to stumble through your private life without financial literacy. But if you're a business manager, it's a must-have competency. So, if this is a gap in your skill set, fill it soon

- Peter Hughes.

Giovanni Peluga had a small market stall in Venice. He knew how well he was doing by the cash in his pocket.

He was an ambitious man, and his best friend Luigi Constantine joined him. At the end of their first day’s trading together they had a meeting.

“How much did we make today, Giovanni?”

“Two thousand florins, Luigi.”

“A thousand each, then.”

“Not quite. I paid for those two hams we haven’t sold. I gave Signor Capella 50 florins each for them.”

“Fine, so we need a small adjustment then. Give me 850.”

“Wait a minute. You know those cheeses I sold to Signora Rosa? She hasn’t paid for them yet. She’ll give me 90 florins tomorrow.”

“I see. But did you pay Signor Grimaldi for them?”

“Only 40 florins. On account. We still owe him another 20. And Signora Blanca brought back that loaf from yesterday. It had gone a little mouldy on the inside. I gave her a fresh one to replace it.”

“So, Giovanni, how much money did we make?”

“I don’t know, Luigi, but I heard about this book that explains it all. It’s by a man called Luca Pacioli.”

Philip Ramsden relates this conversation in