Thomas R. Ittelson

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About Thomas R. Ittelson

Thomas R. Ittelson is an expert at translating complicated financial topics in an accessible way for non-financial audiences. He is a natural scientist by training (Harvard University in biochemistry) and an entrepreneur. His successes and challenges in for-profit business helped him develop his own accounting acumen and style. He shared that knowledge with others in a book for non-financial managers that has sold over 200,000 copies (Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports, Second Edition, Career Press).

Tom’s recent work with nonprofits led him to recognize that non-financial nonprofit board members, managers and staff all require a simple working knowledge of accounting and financial statements to do their job.

With his new book, Nonprofit Accounting & Financial Statements: An Overview for Board, Management, and Staff, Tom’s audacious nonprofit “mission” is to significantly improve the efficiency and effectiveness of U.S. public charities by improving financial literacy within those organizations.

Stephen Fishman

Mary Buffett

Lisa London

Mike Piper

Steven M. Bragg

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$14.49

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$9.99

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$55.79

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Books By Thomas R. Ittelson

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Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports (Over 200,000 copies sold!) 12-Sep-2022

by Thomas Ittelson

( 345 )

$14.49 $30.00

Simply the clearest and most comprehensive introduction to financial reporting available. No accounting background is required.

“Finally, a handbook that takes the mystery out of accounting principles.” —Margi Gandolfi, VP Marketing/Strategic Planning of New York Blood Center

This edition replaces all previous editions of this bestselling title based on the revised and expanded edition corrected and back to the basics.

Financial Statements is a perfect introduction to financial accounting for non-financial managers, investors, business students, lawyers, lenders, entrepreneurs, and more. Financial Statements deftly shows that all this accounting and financial-reporting stuff is not rocket science and that anyone can understand it!

Ittelson empowers non-financial managers by clearly and simply demonstrating how the balance sheet, income statement, and cash flow statement work together to offer a snapshot of any company’s financial health. Every term is defined in simple, understandable language. Every concept is explained with a basic, straightforward transaction example. And with the book’s uniquely visual approach, you’ll be able to see exactly how each transaction affects the three key financial statements of the enterprise. 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.

Other Formats:: Paperback

Nonprofit Accounting & Financial Statements : Overview for Board, Management, and Staff 22-Sep-2017

by Thomas Ittelson

( 148 )

$9.99 $19.58

NEW 2nd EDITION with 2017 FASB Accounting Standards Update.
A simple, yet complete (and very readable) guide to nonprofit accounting and financial statement reporting. Teaches how money enters the organization as donations and grants and then exits the organization as expenses or capital purchases. Shows how nonprofit financial transactions are recorded and how summaries are prepared and presented to stakeholders. No prior accounting knowledge is required. Immensely helpful information made accessible in an informal and witty way. An accounting book that is actually as enjoyable as it is useful! See the author's 60-page FULL COLOR companion book, "A Picture Book of Nonprofit Accounting Statements," also available on Amazon.

Other Formats:: Paperback

Protecting Your Nonprofit from Fraud: Advice for Board and Management (30-Page Nonprofit Guides) 26-May-2020

by Thomas Ittelson

( 2 )

$8.26 $10.08

Theft, fraud, and simple stealing from nonprofit public charities is a national tragedy. In this book, I will give you real-life examples of how and why such fraud occurs and offer practical tips on how to prevent it from happening to your organization. Scoundrel leaders, dishonest employees, or crooked contractors can severely damage or even destroy your nonprofit organization’s capacity to serve its mission. Malpractice in nonprofit organizations is particularly contemptible; losses touch everyone, the people served, the volunteers, the honest employees, and the donors. Misappropriation of assets and embezzlement in nonproﬁts is: (a) common; it happens more often than you think, (b) relatively easy to do by employees intent on fraud, and (c) possible to prevent with simple-to-implement, yet strong, well-designed ﬁnancial systems and procedures. Financial fraud committed by trusted nonproﬁt employees is a ticking time-bomb waiting to go off if the organization does not take the necessary precautions. An organization is most susceptible to ﬁnancial fraud if it has lax ﬁnancial controls with few checks and balances, and then compounds the problem by looking the other way. Sound familiar? Who is responsible for nonproﬁt fraud? The crooks, of course! But mostly, the board and senior managers are also asleep at the switch or the crooks could not have succeeded. The board and management don’t demand and implement adequate ﬁnancial checks and balances in the organization. This book is written for nonproﬁt board members, senior managers, and also donors. You are the folks who can best protect your organization from fraud. It’s not all that complicated to do. This book will show you how. Read on.

Other Formats:: Paperback

This title and over 4 million more available with Kindle Unlimited.

Understanding Nonprofit Financial Statements in 30 Pages: A Short Tutorial for Board, Management, and Staff (30-Page Nonprofit Guides) 7-Mar-2020

by Thomas R. Ittelson

( 9 )

$6.91 $8.32

This short book will guide readers through the fundamentals of nonprofit accounting, financial statements and financial reporting … and all in a quick 30 pages! Written for nonprofit board members, managers, and staff who do not have an accounting or financial background. Learn the specialized vocabulary of accounting and the simple numeric structure of financial statements, but without the unnecessary details that can get in the way of understanding. No prior accounting knowledge is required. See how the Statement of Activities (the Income Statement in for-profit companies), Statement of Financial Position (Balance Sheet), Cash Flow, and Statement of Functional Expenses (unique to nonprofit reporting) summarize the mission-focused actions of the organization and report on its financial condition. This 30-page guide is complementary to the authors more detailed 230-page text best-seller, "Nonprofit Accounting and Financial Statements: Overview for Board, Management, and Staff" also available on Amazon in paperback (ISBN-13: 978-0-9971089-6-5) and Kindle versions. See all the MercuryGroupPress 30-Page Nonprofit Guides on Amazon.

Other Formats:: Paperback

This title and over 4 million more available with Kindle Unlimited.

A Picture Book of Nonprofit Financial Statements 1-Jun-2017

by Thomas Ittelson

( 47 )

$9.38 $18.27

NEW 60-PAGE FULL COLOR BOOK—A simple, visual guide to nonprofit financial statements! No prior accounting knowledge necessary. All in pictures! Short and sweet way to learn about nonprofit financial statements. Companion book to the best-selling author’s 230-page text, Nonprofit Accounting & Financial Statements: An Overview for Board, Management, and Staff,” also available on Amazon.

Other Formats:: Paperback

A Visual Guide to Financial Statements: Overview for Non-Financial Managers and Investors 18-Apr-2019

by Thomas Ittelson

( 11 )

$9.99 $22.20

A short and understandable introduction to financial reporting and analysis.

A company’s financial statements simply document the movement of cash and goods and services into and out of the enterprise. That is all financial statements are about. It is no more complicated. Everything else is details. Don’t sweat the details. This 48-page, full color picture book provides an overview with no gobbledygook and confusing jargon. All necessary numeric structure is explained and all essential vocabulary is defined. No prior accounting knowledge required.

Understanding financial reporting does not have to be difficult. You have learned all the math required to master financial statements by the end of the fourth grade—mostly addition and subtraction. However, you will need to learn and use specialized accounting vocabulary, which can be confusing. You will also need to understand the structure and appreciate the purpose of the three major numeric statements that describe a company’s financial condition. Each paints a different, 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 of time (called the “period”). The Income Statement gives a very important perspective on the company’s performance — its profitability.

The Cash Flow Statement details the movements of cash into and out of the company for the period. You need money to make money. Running out of cash is bad. Duh.

The Balance Sheet records at the end of a period, what the company owns and what it owes, including the owners’ stake called shareholders’ equity.

Financial statements are simply summaries and structured presentations of the various events (business transactions) that affect a company’s financial performance. Business transactions are anything that transfers money to or from the company, or transfers goods and services. Transactions can also record future financial obligations that the company may assume, or also rights that the company is granted from others.

If you can follow a recipe or apply for a loan, you can learn accounting. The basics are not difficult, and they are not rocket science. Just as a CPR class teaches you how to perform cardiac pulmonary resuscitation, this short book will explain how to read financial statements. It will not train you to be an accountant (just as a CPR course will not make you a cardiac doctor), but it should give you the confidence to be able to look at a set of financial statements and make sense of them.

Buy this book!

Other Formats:: Paperback

This title and over 4 million more available with Kindle Unlimited.

Don't Marry;: or, Advice as to How, when and Who to Mary 26-Nov-2018

by Hildreth

( 2 )

$3.88 $6.48

DON’T MARRY; OR ADVICE AS TO HOW, WHEN AND WHO TO MARRY was originally published in 1891 by the dime novel publishing house of J.S. Ogilvie. This Mercury Group Press facsimile edition preserves the size, look and feel of the original magazine edition, including pagination.

J. S. Ogilvie was a prolific publisher, with a headquarters and warehouse under the Manhattan end of the Brooklyn Bridge in New York City. “No publishing house in the country outdoes J. S. Ogilvie Publishing Company, of New York, in its output of paper covered books at very low prices, thus bringing within the reach of the people at large many books.” — Cambridge Tribune, Volume XXX, No. 42, 14 December 1907

This book does not advise against marriage but just offers advice on the errors some people can make who make the wrong choice when entering into so long a contract. Surprisingly perhaps, the advice contained herein is as valid today as it was 100 years ago.

Other Formats:: Paperback

On My Walk into Harvard Square: Flowers along the Way 14-Aug-2018

by Thomas R. Ittelson

$6.59 $19.58

All photographs taken with an iPhone 7 plus on walks into Harvard Square during May thru July 2018. The path is from Concord Avenue out by Radcliffe, then through the Square and down Massachusetts Avenue in Cambridge, a distance of about 1 mile. As I started taking pictures each day, I was both amazed and awed at the beauty and variety presented to me. New flowers literally popped up as the spring an early summer progressed. This book chronicles my walks. Enjoy walking with me.

Other Formats:: Paperback

This title and over 4 million more available with Kindle Unlimited.

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