Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports (Over 200,000 copies sold!)
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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.
From the Publisher
Publisher : Career Press; Reissue, Classic edition (September 12, 2022)
Language : English
Paperback : 304 pages
ISBN-10 : 1632652072
ISBN-13 : 978-1632652072
Item Weight : 2.31 pounds
Dimensions : 6.8 x 0.9 x 9.6 inches
Customers say
Customers find the book easy to understand, particularly for beginners, with one review noting how it takes readers through each step of the balance sheet. Moreover, they appreciate its readability and information quality, with one customer mentioning there’s zero fluff or extraneous content. However, the book receives mixed feedback regarding typos, with several customers reporting numerous errors that can be misleading.
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