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Title: Financial Statements: A Step-By-Step Guide to Understanding and Creating Financial Reports by Thomas R. Ittelson, Thomas R. Ittleson ISBN: 1-56414-341-4 Publisher: Career Press Pub. Date: February, 1998 Format: Paperback Volumes: 1 List Price(USD): $15.99 |
Average Customer Rating: 4.88 (16 reviews)
Rating: 5
Summary: An excellent book for those who wish to start finance
Comment: After having read many financial textbooks, I think this book is amazing. The author did an excellent and remarkable work. To begin with, he took in very serious consideration his audience, which is people with poor knowledge in finance. Thus, his book is very easy-to-read and its content very explicit. Every single financial term is clarified with a layman's language. Moreover, for every single term, there is a very understandable example. Likewise, in every page there is a sheet explaining all the transactions. I strongly believe that this book is a masterpiece for non financial managers.
Rating: 5
Summary: a clear and practical guide
Comment: This is a fabulous introduction for the novce (like me). The book clearly defines terms and presents material in a conceptual order that really makes sense. It is also laid out very well visually, breaking out concepts and clearly linking text to examples of different kinds of financal statements, which is a very effective technique for illustrating the topic at hand. The last chapters of the book include an introduction to ratio analysis, which is a useful beginning for individual investors interested in securities analysis.
Rating: 5
Summary: Financial Statements for Dummies!
Comment: I've been buying from Amazon.com for at least 5 years but this is my first review. I am 3/4 of the way through Ittelson's book and I want to write this review while my enthusiasm is still burning white hot.
Ittelson has a gift that few experts have. He anticipates all my newbie/beginner stupid questions. Here I am on page 169 wondering why paying payroll taxes doesn't show up on the Income Statement. Sure enough, right after I've wondered to myself why there is no transaction on the Income Statement, I see his note explaining that these payroll tax expenses were put on the Income Statement when the goods were shipped, "not when the actual payment is made."
As soon as the little voice in my head asks, "But why did they do it *this* way?" Ittelson gives me the answer.
I give Ittelson a lot of credit for this. After you've studied something for years, as he clearly has, it's often almost impossible to see the subject with the eyes of a beginner. Believe me, I'm a teacher, I know how difficult it can be.
The first part of the book examines the three basic statements line-by-line: Income Statement, Cash Flow Statement, and Balance Sheet.
The largest part of the book sounds incredibly dry and dull. Each even-numbered page displays all three financial statements: Income Statement, Cash Flow Statement, and Balance Sheet. The odd-numbered page explains a business transation: paying payroll taxes, for example. The transaction's impact on the three financial statements is displayed on the even-numbered page.
Believe it or not, Ittelson makes it interesting to read about these business transactions. He creates a narrative about starting a business and running it. Along the way, he offers a few humorous pearls of business wisdom. This is dry, technical stuff but he makes it entertaining without ever sacrificing explanatory precision.
This is a great book for anyone who feels they need to sharpen their skills with financial statements. I've read short descriptions of financial statements before but it never sank in. What's great about Ittelson's book is that first he gives very clear definitions of key terms and then he takes you step-by-step through each business transaction and how it is reflected on the financial statements.
I wish I had read this book more than 10 years ago when I first started in the business world. I assume that you learn this stuff if you have an MBA. But I didn't. This gives one a solid grounding in the brass tacks of the business world.
This book has been of enormous value to me. It is an essential reference for anyone who needs to understand what business finances are about.
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Title: How to Read A Financial Report by John A. Tracy ISBN: 0471327069 Publisher: John Wiley & Sons Pub. Date: 22 February, 1999 List Price(USD): $19.95 |
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Title: How to Use Financial Statements: A Guide to Understanding the Numbers by James Bandler ISBN: 078630197X Publisher: McGraw-Hill Trade Pub. Date: 01 June, 1994 List Price(USD): $19.95 |
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Title: Keys to Reading an Annual Report (Barron's Business Keys) by Ralph E. Welton, George Thomas Friedlob ISBN: 0764113062 Publisher: Barrons Educational Series Pub. Date: 01 January, 2001 List Price(USD): $7.95 |
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Title: The McGraw-Hill 36-Hour Course in Finance for Nonfinancial Managers by Robert A. Cooke ISBN: 0070125384 Publisher: McGraw-Hill Trade Pub. Date: 01 January, 1993 List Price(USD): $19.95 |
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Title: Understanding Cash Flow by Franklin J. Plewa, George T. Friedlob ISBN: 0471103861 Publisher: John Wiley & Sons Pub. Date: April, 1995 List Price(USD): $22.95 |
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