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Financial Statements, Third Edition: A Step-by-Step Guide to Understanding and Creating Financial Reports (Over 200,000 copies sold!) Kindle Edition
Over 200,000 copies sold!
Thomas R. Ittelson’s master work for entrepreneurs, non-financial managers, business students, lawyers, lenders, and investors—the bestselling book of its kind, with over 200,000 copies in print—has gotten even better with this 20th anniversary edition.
Ittelson is an expert at translating complicated financial topics in an accessible way for non-financial audiences. In this book, he empowers readers by clearly and simply demonstrating how the three major accounting statements interact to offer a snapshot of a company's financial health.
This book teaches readers how to use specialized accounting vocabulary and makes accessible the structure and purpose of the three major numeric statements that describe a company’s financial condition. Each statement paints a different and essential picture—the “three-legged stool” of company reporting:
- The income statement shows the manufacturing (or service offerings) and selling actions of the company that result in profit or loss during a period. It gives a very important perspective on the company’s performance, its profitability.
- The cash flow statement details cash into and out of the company for a period. You need money to make money. Running out of cash is bad. Duh.
- The balance sheet records at the end of a period, an instant in time, what the company owns and what it owes, including the owners’ stake, called shareholders’ equity.
With two new major topic sections (nonprofit organization accounting and pricing theory for profitability) and spot color reformatting to improve comprehension, this third edition of Financial Statements is simply the clearest and most comprehensive introduction to financial reporting available. No accounting background is required.
--Timothy D. MacLellan, CPA, PFS , partner, Morgan & Morgan, PC
"Finally, a handbook that takes the mystery out of accounting principles. I recommend this book to any 'non-financial' type who sits at the head of the table--boardroom or kitchen."
--Margi Gandofi, vice president, strategic programs/clinical services, New York Blood Center
"I wish this book were around when I started my first company. The entrepreneur can learn in one evening's reading what it took me two years of learning-by-doing!"
--Gordon B. Baty, partner, Zero Stage Capital --This text refers to an out of print or unavailable edition of this title.
About the Author
- ASIN : B07XGNYWMX
- Publisher : Career Press; 3rd edition (March 18 2020)
- Language : English
- File size : 61584 KB
- Text-to-Speech : Enabled
- Screen Reader : Supported
- Enhanced typesetting : Enabled
- X-Ray : Enabled
- Word Wise : Enabled
- Print length : 426 pages
- Best Sellers Rank: #149,316 in Kindle Store (See Top 100 in Kindle Store)
- Customer Reviews:
About the author
Top reviews from Canada
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This book, like most books of its kind, tend to eventually mix balance sheets and income statements in the same chapters. I'd like to see them completely separate until they really need to overlap. It would be less confusing, at least for me.
I'd also like to see the data for income statements presented with less info. or in a larger font size. I find the income statements quite hard to see, (physically).
Otherwise, a very good read.
Mr. Ittelson has done a splendid job here.
Top reviews from other countries
The book comes complete with a very thorough set of examples based upon a fictitious company doing a number of different transactions as it goes from startup through several manufacturing cycles. These examples show you how every different type of transaction affects the financial statements.... this is terrific.
The one down side, is that it is written from an American perspective, and my company is based in the UK. However there is a huge amount of crossover. Some terminology may differ and the governing bodies are different, but other than that this book provides an excellent foundation for the non-expert.