Financial Statements

Financial Statements  (English, Paperback, Ittelson Thomas)

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    Highlights
    • Language: English
    • Binding: Paperback
    • Publisher: Career Press
    • Genre: Business & Economics
    • ISBN: 9781601630230, 1601630239
    • Edition: 2011
    • Pages: 288
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    Description

    Published in the year 2009, Financial Statements: A Step-By-Step Guide To Understanding And Creating Financial Reports is a book that provides the readers with insights into the basics of financial accounting.

    Summary Of The Book

    Financial Statements: A Step-By-Step Guide To Understanding And Creating Financial Reports came into being because of Ittelson’s desire to teach the readers to design and utilize financial statements in their businesses. This book is written for absolute beginners who have no prior knowledge of accounting. In most cases, financial and accounting books are not a hit with the readers due to the fact that they are drafted by accountants, for accountants.

    Ittelson starts off by explaining that assets are a combination of the owners’ equity and liability. This is one of the fundamentals of accounting and he explains that those who want to become real investors need to understand ways to analyze their balance sheet, income statement, and cash flow statement. It is important to understand that although this book doesn’t contain highly advanced topics on accounting, it will definitely give the readers the foundation they need to have, to deal with advanced accounting. In total, this book comprises twenty two chapters. Some chapters include Cooking the Books, Sources and Costs of Capital, The Time Value of Money, The Income Statement, and Twelve Basic Principles.

    He explains these three important financial statements by giving an example of a company that manufactures applesauce. After some time, the company decides to expand their business and purchase a machine worth 250,000 dollars, paying half the money upfront and the remaining, after the installation is complete. He explains that the company now has 125,000 dollars less on their balance sheet, while it has 125,000 dollars more of plants, property, and equipment. However, this transaction appears under PP&E purchases on the cash flow statement, decreasing the overall cash balance.

    Using this example and many more, Ittelson provides the readers with detailed, yet easy to understand information on developing financial statements. This edition contains nine new chapters and has been divided into two sections. Financial Statements: A Step-By-Step Guide To Understanding And Creating Financial Reports is highly recommended for undergraduate and MBA students, lenders, entrepreneurs, stock-market investors, non-financial managers, and lawyers, who want to gain insight into the fundamentals of financial accounting.

    About Thomas R. Ittelson

    Thomas R. Ittelson is an author and entrepreneur.

    Ittelson completed his undergraduate degree in Biochemistry from Harvard College, and went to finish his postgraduate degree from Harvard Medical School. He has more than three decades’ experience in strategic planning, business development, and technology transfer in the industry of science and technology. He has served as the Director of the Intellectual Property Office at the Whitehead Institute. During his time there, Ittelson was responsible for technology licensing, corporate sponsored research, and corporate collaborations. He also handled negotiations among the firm and partners such as Bristol-Myers Squibb, Genomic Collaborative, Cellomics, Millennium, Genset, and Merck and Pfizer Inc.

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    Specifications
    Book Details
    Imprint
    • Career Press
    Publication Year
    • 2011
    Dimensions
    Height
    • 254 mm
    Length
    • 178 mm
    Weight
    • 1 gr
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    Ratings & Reviews
    4.7
    11 Ratings &
    3 Reviews
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    5

    Best finance book for Non-finance people

    If you know very little about finance but wish to understand it step by step then this book is the best book. Do not worry about no. of pages but after reading(, you will come to know that how easily you learn the financial statements,various ratios and stats.

    Must Buy for non finance people who wish to understand finance.
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    dharmendra tiwari

    Certified Buyer, Bangalore

    22 Dec, 2014

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    5

    Best and Most valuable book for anyone who wants to learn about financial statements.

    This book is must read for anyone who has very less or zero knowledge about financial statements. The author has explained about financial statements and their use beautifully and in a very simple way. Have this book If you really want to learn about Financial Statements. Simply Superb !!!
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    Kamaljeet

    Certified Buyer

    7 Apr, 2013

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    5

    Best Accounting Basic for Beginners

    It is perhaps the best book for beginners who are from non-commerce background. It doesnt giv much examples about current world scenarios but it does explain with simplicity and ease. 5 stars !
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    Talib AHmed

    Certified Buyer, Mumbai

    17 Jun, 2014

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