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

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<div><div><p><b>Over 200,000 copies sold!</b></p><p>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.</p><p>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.<p><p>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:<br><ul><li>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.</li><li>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.</li><li>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.</li></ul></p><p>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 <i>Financial Statements</i><P><P> is simply the clearest and most comprehensive introduction to financial reporting available. No accounting background is required.</P></P></p></p></p></div></div>

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