( 24 reviews )
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Posted: Aug 13 2009
Financial statements are basic documents specifically designed and intended to codify a company's fiscal status with respect to revenues, expenditures, assets, and liabilities. Now in a newly revised, expanded, and updated edition, "Financial Statements" by business developer and marketing consultant Thoms R. Ittelson explicitly instructs the non-fiscally trained business manager on how to create a financial statement, including cogent explanations of how balance sheets, income statements, and cash flow statements combine to provide accurate and accessible information delineating a company's fiscal status so fundamentally important for decision making. Of special note are the two new chapters on capital budgeting analysis techniques of net present value (NPV) and internal rate of return (IRR) set out in clear, comprehensive, 'reader friendly' exampled explanations. "Financial Statements" is especially recommended for entrepreneurs and business managers who have no previous background in the creation or interpretation of corporate financial statements -- as well as non-specialist general readers considering investing in a company and needing to examine financial statements as a part of their deliberations.
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( 2 of 2 found this review helpful ) Posted: Aug 12 2009
This is an excellent book introducing readers how to read financial statements. The author does a great job of explaining a complicated topic in easy and plain English. He writes about the income statement, balance sheet, cash flow statement, and how they connect with each other. Financial statements do not exist in a vacuum. For example, when a product is sold, the transaction is shown on the income statement because revenue is earned. But it is also shown on the balance sheet because the product has to be taken out of inventory and if cash is received, the amount must be added to the cash balance. The cash flow statement is also affected. Every investor should invest time in learning about how to read and understand financial statements. Accounting is the language of business. I highly recommend this book to anyone who is interested in learning this language. - Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
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( 1 of 1 found this review helpful ) Posted: Jul 4 2009
For people who have zero background in accounting and find a balance sheet confusing. Explains in VERY clear and simple steps how a balance sheet and other financial statements work. Saved my life during my first term of accounting. The teacher blazed through it so quickly as did the accounting textbook. A great supplement to the confused Accounting 1 student, or any general person who needs to understand what financial statements are actually saying.
