Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports

Thomas Ittelson

ISBN 10: 1601630239 / ISBN 13: 9781601630230

Published by Career Pr Inc, 2009

About this Item

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.

Seller Inventory # CIN1601630239G

Bibliographic Details

• Title: Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports
• Publisher: Career Pr Inc
• Publication Date: 2009
• Language: English
• ISBN 10: 1601630239
• ISBN 13: 9781601630230
• Binding: Paperback
• Edition: 2nd Edition
• Condition: Good

About this title

Synopsis

Now the best-selling book of its kind has gotten even better.

This revised and expanded second edition of Ittelson's master work will give you that firm grasp of "the numbers" necessary for business success. With more than 100,000 copies in print, Financial Statements is a perfect introduction to financial accounting for non-financial managers, stock-market investors, undergraduate business and MBA students, lawyers, lenders, entrepreneurs, and more.

Most introductory finance and accounting books fail either because they are written "by accountants for accountants" or the authors "dumb down" the concepts until they are virtually useless. Financial Statements deftly shows that all this accounting and financial-reporting stuff is not rocket science and that you 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 statement of the enterprise.

Two new major sections with nine new chapters were added to this revised second edition of Financial Statements, simply the clearest and most comprehensive introduction to financial reporting available.

About the Author

Thomas R. Ittelson is a scientist, businessman, author, and teacher with many years of hands-on experience in business development and marking for technical companies. As a consultant to entrepreneurs, Ittelson has written business plans and prepared financial projections that have helped raise more than $500 million in start-up equity capital. Financial Statements was born from the author's efforts to teach client entrepreneurs how to design and use financial statements in their start-up businesses.