Financial Statements: A Step-By-Step Guide to Understanding and Creating Financial Reports, First Edition

  • 2h 31m
  • Thomas R. Ittelson
  • Red Wheel/Weiser
  • 1998

Finally, a resourceful and unique primer on financial statements that uses a creative and different approach to explain every kind of financial report a small business owner or manager needs to succeed. Through an unique visual approach, this book leads users to a clear understanding of how business scores are kept and how to interpret the results.From balance sheets, cash flow statements and income statements, learn how to understand the basic elements that will pave the way to achieving financial success.

About the Author

Thomas Ittelson's formal training—as a biochemist, not as an accountant or financial officer—contributes to the unique structure and focus in this book. Necessary vocabulary is introduced and reinforced and transaction structure is emphasized. Financial Statements offers a simple step-by-step approach to learning what can be a daunting subject for many people in business.

Mr. Ittelson first learned accounting and financial reporting "on the job," as the strategic planner with a large multi-national corporation and then as the founder, CEO and treasurer of a venture-capital backed high-technology startup company. Currently, he is a principal with The Mercury Group, a Cambridge, Massachusetts-based management consulting firm that specializes in market and business strategy development for technology-based companies. His clients range from large industrial enterprises to entrepreneurial startup ventures.

The Mercury Group's intensive, one-day management seminar, The Architecture of Financial Statements, is conducted for business professionals who should know how an Income Statement, Balance Sheet and Cash Flow Statement work…but don't.

In this Book

  • Preface
  • About this Section
  • Twelve Basic Principles
  • The Balance Sheet
  • The Income Statement
  • Cash Flow Statement
  • Connections
  • About this Section
  • Startup Fiancing and Staffing
  • Staffing and Equipping Facility; Planning for Manufacturing
  • Manufacturing Operations Startup
  • Marketing and Selling
  • Administrative Tasks
  • Growth Profit and Return
  • About this Section
  • Keeping Track with Journals and Ledgers
  • Ratio Analysis
  • Alternative Accouting Policies and Procedures
  • Cooking the Books
  • Conclusion
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