Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports
- 2h 32m
- Thomas R. Ittelson
- Career Press, Inc.
- 2009
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 Ittelson is a scientist, businessperson, author and teacher with over 30 years of hands-on experience in business development and marketing for technical companies. As a consultant to entrepreneurs, Mr. Ittelson has written business plans that have raised over $500 million in start-up equity capital. This book, Financial Statements, was born from the author’s efforts to teach entrepreneurs how use financial statements in their businesses.
Ittelson’s formal training—as a biochemist, not as an accountant or financial officer—contributes to the unique structure and focus in this book. He first learned accounting and financial reporting “on the job” as the strategic planner for a large multinational corporation and then as the founder, CEO and treasurer of a venture capital backed high-technology company. Currently Ittelson practices with The Mercury Groupa Cambridge, Massachusetts-based management consulting firm specializing in marketing, financial modeling, business strategy development and fund raising for both startup and more established technology-based businesses.
In this Book
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Financial Statements—A Step-by-Step Guide to Understanding and Creating Financial Reports
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Preface
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Introduction
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Twelve Basic Principles
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The Balance Sheet
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The Income Statement
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The Cash Flow Statement
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Connections
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Startup Financing and Staffing
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Staffing and Equipping Facility; Planning for Manufacturing
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Startup of Manufacturing Operations
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Marketing and Selling
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Administrative Tasks
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Growth, Profit and Return
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Keeping Track with Journals and Ledgers
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Ratio Analysis
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Alternative Accounting Policies and Procedures
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Cooking the Books
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Mission, Vision, Goals, Strategies, Actions and Tactics
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Risk and Uncertainty
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Making Decisions about AppleSeed’s Future
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Sources and Costs of Capital
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The Time Value of Money
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Net Present Value (NPV)
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Making Good Capital Investment Decision
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Conclusion
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Short History of Business Fraud and Speculative Bubbles
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Nominal vs. Real Dollars
