Book Description
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.
Customer Reviews:
Excellent.......2007-09-10
I'm in an MBA program and have had numerous undergraduate accounting classes. This book is fantastic. It is FAR superior to "How To Read A Financial Report" by John Tracy. "Financial Statements: A Step-By-Step Guide to Understanding and Creating Financial Reports" by Thomas R. Ittelson is clear and concise. It's the best book I've found on the subject. I highly recommend it!
A Sound Basic Review of Financials.......2007-09-07
A sound review of what I learned almost 40 years ago and have not used in about 25 years. Brought back what I learned and used years ago.
Clear, simple and extremly useful.......2007-07-19
For the person who buys stocks, this book is an absolute must. Ittelson's writing is clear and gets to the point. By the end, you will have a very good understanding of financial statements. I got interested in this book as an investor and I am very pleased with my time investment in reading this book.
Worst book I have bought yet.......2007-06-11
I bought 3 books, the one I am reviewing, "Reading Financial Reports For Dummies", and "Guide to Understanding Financial Statements". This book gives no information for beginners who are trying to learn how to understand financial statements. I read all 3 books twice, and I didn't get anything...and I mean nothing from this book. The other two were very well written. Reading Financial Reports For Dummies and The Guide to Understanding Financial Statements. I suggest not wasting your money on this book. It is basically a lot of numbers with very little explanation. It is also confusing because the definitions are different and there is no explanation why they defintions change when reading a financial report.
Good for beginners.......2007-06-07
This book would be an excellent supplement to a beginning accounting class. The author explains the material so that it is very easy to understand.
But if you've taken intermediate or advanced accounting classes, don't waste your money. There isn't anything new in this small book. It doesn't cover all areas of accounting and the areas that are covered are not in-depth. Example: There is a brief mention of straight-line deprection but nothing about salvage value and no mention about the other depreciation methods.
Amazon.com
Chuck Kremer, Ron Rizzuto, and John F. Case believe "50 percent of small-company owners and managers don't get complete, timely information about their business's financial performance" and "90 percent don't really understand or use the information they do get." Kremer, a business-literacy consultant, Rizzuto, a university finance professor, and Case, a business journalist, further contend that such data and their proper application are critical to the successful operation of any small business. That's why they've assembled Managing by the Numbers as a self-help guide to the ins and outs of corporate finance. In the first section, they show how to decipher three major reports that everyone should review monthly (balance sheet, income statement, cash flow). In the second, they discuss how resultant figures tie in to "three bottom lines of business" (net profit, operating cash flow, return on assets) that can be examined collectively. And in the third, they explain ways that stimuli for each can be optimized to achieve overall business goals. The combination allows you to "translate your financial understanding into better financial performance," the authors conclude. While much of the material may seem intimidating, it is presented clearly and could indeed provide an edge in today's hypercompetitive business environment. --Howard Rothman
Book Description
Developed in partnership with Inc., a handy and practical guide to interpreting your company's financial statements to drive business growth and profitability
Everyone interested in building a stronger business needs to understand and use the information captured in financial statements. In Managing by the Numbers, business education and accounting experts Chuck Kremer and Ron Rizzuto team up with open-book management authority John Case to demystify the numbers. They present a practical, common-sense approach to reading financial statements and to managing the three bottom lines of business financial performance: net profit, operating cash flow, and return on assets. The book features numerous exercises and examples (with associated templates available on the Web), a powerful new management tool known as "The Financial Scoreboard," and an extensive glossary. Managing by the Numbers is an essential resource for entrepreneurs, business owners, managers, and anyone eager to improve their mastery of the financial side of running a business.
Customer Reviews:
I got this book free. I would've paid..........2006-12-21
10x the cover if I knew the value it'd bring.
I got this book as part of "Birthing of Giants". It's a three year retreat for entrepreneurs held for a week in the summer. You get a reading list and they are kind enough to send you books.
It sat in the box until Charles Kremer came to speak to our class. What he presented made the material so clear.
Before, I'd set barriers as to what was comfortable from a cash management point of view. My goals would actually cause pain when they'd be reached.
The relationships between balance sheet, income statement and cash statement are clear. "Beginning position" +/-non cash part of transaction +/- cash part of transaction = "Ending position"
Want to know the effect of retained earnings on the balance sheet or MSGA expense on the income statement or where the Interest expense paid should fall? Consult the "Magic Square".
Don't look at this book as a substitute for CPA knowledge but rather as a cheat-sheet for financial goal setting and cash management of a business.
A straightforward explanation of how the accounting jigsaw fits together.......2006-07-14
The book is well written with a non accounting audience in mind. A greater understanding of how accounting savvy people utilize the information within balance sheets, P&L's and cash flow statements can be achieved. An enjoyable and worthwhile read for those who want to try and get to grips with the irksome task of understanding their accountant, or even better to use the accounting information available to IMPROVE their business.
Easy to understand!.......2004-09-09
This was the first book that I've read that makes this type of material easy and interesting. Definitely, check this book out. I always recommend it to friends.
Tom Ehrenfeld's recommendation........2003-09-18
EXCERPTED From Chapter 3 (The Numbers That Count: Acknowledge the Rules), Page 72*
At the end of this chapter, I refer to several terrific books that delve into much greater detail of these aspects, and I highly recommend that you read them. At the bare minimum, you need to understand the basics.
Folks who speak the language of finance use three financial statements; the income statement, the balance sheet, and cash flow.
Each set of numbers tracks a different function. Each one is important for your business. (Note: I highly recommend the terrific book Managing by the Numbers by Chuck Kremer et. al.-see "Resources" at the end of the chapter.)
The balance sheet provides what experts call a "snapshot" of your business's financial condition at one particular point in time. Think of this statement as what your business owns and what it owes. This statement lists your assets (what the business owns or is due), your liabilities (what the business owes), and difference between assets and liabilities, which is called owner's equity. This sheet is constructed so that your assets minus your liabilities necessarily equal the owner's equity; thus, when it is produced correctly, the sums are balanced.
The income statement tracks your company's profitability over a given period of time. It says whether, in a specific period, you made money or didn't. But, and this is a huge but, it's an abstraction. It shows the promises that people have made to pay you money, and the agreements you have made to pay others. "It shows whether you're making money on the goods and services you provide, once you have taken all your costs and expenses into account. But it isn't real," write Kremer et al. It doesn't show how much cash you've put in you bank account or how much cash you spent." Income statements are subject to manipulation. Because income statements are subject to intangible factors such as depreciation (which tracks how an asset loses value over time), you can show a profit-or loss-that is not directly tied to your activities in that span of time. Moreover, income statements count promises that others have made to you as actual income, while the daily reality may be quite different. So these statements indicate profitability-which is good-but they don't necessarily reflect your daily, actual situation.
For that you have cash flow. Cash flow is, very simply, the difference between your cash receipts and your cash expenditures. It's what you have left after you spend the money that you take in. Consider this measure to be your business checkbook; what cash is actually coming into your business and what is actually being spent? There is no fudging cash. It's what you have on hand-the balance in your account.
EXCERPTED FROM Chapter 3 (The Numbers That Count: Resources), Page 93*
Managing the Numbers by Chuck Kremer and Ron Rizzuto with John Case (Perseus Publishing, Cambridge, Massachusetts, 2000)
This gem limns the theory and practice of financial management for small companies. Set aside the fact that some of the basics may apply to larger or slightly more mature companies than yours. Read this to understand how to use the financial life of your company as the basis for critical operational decisions. Kremer et al. show how you need to understand three financial statements (the balance sheet, the income statement, and cash flow) to truly evaluate your company's performance. Moreover, you really start to control this function when you learn how the three statements fit together.
*Tom Ehrenfeld, the startup garden (New York: McGraw-Hill, 2002).
Simple yet sound.......2002-09-11
If you don't have a business degree and as a business owner or potential business owner are looking for more knowledge on how to understand the books then get this book. If you do have a degree in Business then you need not spend your money here. Take the 14.95 you would pay for this book, invest it in a high yield stock or bond and wait 50 years and you may have about a thousand bucks or so.
Book Description
There's no mystery to understanding company financial statements Even if you have no financial or accounting background, you can read those intimidating-looking financial statements as easily as A-B-C. The second edition of The Guide to Understanding Financial Statements, by S.B. Costales and Geza Szurovy, makes all the numbers and jargon absolutely clear. In seconds you'll spot a company's strengths and weaknesses, see how its performance measures up, and have a solid basis for judging future prospects. The material is so easy to grasp, you'll know it all on first reading, Discover: what a balance sheet really reveals; the true significance of a profit and loss statement; what the six most important financial ratios are, and what each can tell you; how to tell when the numbers are favorable or not; how to spot fraud; how to discover whether the stated value of certain asests is true; much more.
Customer Reviews:
Great Buy!!! Easy to Read and Understand.......2002-06-27
This book was a big help to me. Having only a basic education in accounting, this book laid it out for me in a simple, easy-to-read manner. Definately a good buy!
A Hands Down Great Book For Beginning Managers.......2000-11-16
This book is amazing in that it gives a comprehensive,consise, and simple explanation for finicial statements. I have read many such books, yet this tops them all for its relative simplicity while still being able to get across its point. I would recommend this book to any beginning accountant, manager, or investor. This book shed light on information overlooked by unexperienced businessmen and is a great buy.
Book Description
How to Use Financial Statements explains in clear, easy to understand methods how to read a financial statement. Written for the non-financial professional, this book is ideal for:
- Professionals that have been promoted to a job that requires reviewing financial statements
- Investors that have accumulated enough savings to begin looking at alternatives
- Spouses that have suffered the loss of the member of the family who has always dealt with financial matters
- Readers who work in non-financial areas and have no interest in investments
This practical guide includes:
- An overview of financial statementswhat they are and what they tell us
- A thorough, yet basic introduction to the accrual concepts
- Easy to understand explanations of profit and loss
- Statement of cash flows and special reporting issues
Customer Reviews:
Awesome book.......2007-01-29
I am very happy with financial statements. It is clear, concise and gets right to the point. Plus it's light too. Overall I am happy with my purchase.
good and bad.......2006-10-10
There is no doubt that the author is extremely knowledgeable about financial statements, but he struggles to write a clear introduction for newcomers. I finished the book with a muddy, incomplete understanding of financial statements.
In his attempt to introduce financial statements to first-timers like me, the author gets a couple things right:
- it's short. the length is a very comforting 130 pages.
- it's illustrated. there are drawings of scales with profit/loss, etc. This is essential for visual learners like me.
However, the author fails on these points:
- cute phrases instead of genuine insight. The author's little jokes in the text felt a little self-indulgent, and didn't help explain. There is one exception: it was useful when the author describes the fans of the various reports - P/L vs Balance vs Cash Flow. However, most of the rest of the joking was irrelevant and amateur.
- Not well written. Like many technical books, the quality of writing was poor. Many parts like first drafts - left me with lots of questions. The illustrations often felt incomplete and didn't help explain much.
- Expert blindness. In some ways, experts are the worst people to write books for beginners. They are passionate about the details and history, which is not what newcomers need.
I understand why financial experts would recommend this book to newcomers: they share the passions of the author. However, this doesn't help newcomers. I will keep shopping for the book that gives me the basic 'big picture' understanding of financial statements I need.
excellent refresher.......2006-02-17
I had a basic understanding of financial statements from accounting courses in college, but had forgotten most of it in the past 7 years. This book was a great refresher and would probably also be a good first book for someone with zero - very limited knowledge.
Great for understanding & interpreting financial statements.......2000-03-26
This book teaches anyone (from owners, to managers, to employees, to customers, to lenders, to suppliers, and to attorneys) how to obtain answers from financial statements by asking the right questions. This book is not filled with esoteric symbols and mathematical babbles, but with clear diagrams and down to earth explanations of the applications of each part of the financial statements. The author has done an excellent job on making this seemingly confusing subject very easy to understand and useful to those who needs to make decisions from it.
Good Things Come In Small Packages.......1999-12-24
The best book of its type: covers key points in a direct and effective way. If you need to refresh understanding of financial statements, or learn the basic in a concise format you will be pleased with this book. As a finance professor and practioner (CFA) I have recommended Bandler to numerous students and associates.
Book Description
Provides the essentials for understanding a company's financial health by explaining how companies formulate their financial documents and how to evaluate financial statements.
Customer Reviews:
Easy to understand.......2004-04-30
As a student I get enough huge textbooks to read that go on and on and don't drive home the point. This book was easy to read and I could conceptualize the material very easily. It is very important for journalists to understand the difference between what corporations want you to write about and the truth behind the numbers.
Precisely what biz reporters need.......2004-03-29
Concise but packed with info and diagrams that make financial statements decipherable. I have a huge collection of journalism books but nothing else that provides info on financial statements from the JOURNALIST'S perspective. This book is exactly what a reporter covering business needs, without a bunch a fluff.
Average.......2004-02-16
I have read this book and others like it and for the money it really lacked the punch. If you are a business journalist like me you probably already have a host of books that cover this material.
Nice book for understanding corporate financial statements.......2004-01-05
I use this book to teach college journalism students how to decipher corporate financial statements and write stories based on the numbers. Jay does a good job of explaining what the numbers mean in a way anyone can understand.
I especially like his tips and suggestions, and the fact that the book is short, less than 120 pages long. He gets to the point and gets out.
Average customer rating:
- A Quick and Dirty Introduction to Accounting Methods
|
The Agile Manager's Guide to Understanding Financial Statements (The Agile Manager Series)
Joseph T. Straub
Manufacturer: Velocity Business Publishing
ProductGroup: Book
Binding: Paperback
 Corporate Finance
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| Business & Investing
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General
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Financial
| Accounting
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Management
| Management & Leadership
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ASIN: 0965919358 |
Customer Reviews:
A Quick and Dirty Introduction to Accounting Methods.......2004-07-06
This is one really great book in an impressive series of publications. Everything you need to know to have a passing familiarity with accounting statements is presented in easy read and understand fashion. After reading this book, you can use and understand some of the more basic jargon of business, investment and finance.
As is the tradition with every great business book, the text ends with Chapter 7 (you know, of bankruptcy fame!). Each chapter presents a different aspect of financial statements, beginning with the income statement, the balance sheet, and the statement of cash flows, and integrates the three to demonstrate how they can be used for financial analysis, inventory tracking and allocating for depreciation. Each chapter starts by explaining the topic fully, and offers several examples of its use in actual business practice. Although the book is a slim volume, it packs a lot of information, being brief, to the point and insightful all at the same time. Additionally, its small size also means that it will not take up too much space on one's shelf of must-have and must-keep books.
I highly recommend this book to anyone having the need to understand financial statements at a glance. Interested readers should also check out some of the other titles in the Agile Manager Series which may be helpful.
Book Description
Congress passed the Sarbanes-Oxley Act in response to major corporate and accounting scandals--and many consider the act to be the most significant change in corporate governance and securities regulations in the past seventy years.
SOX requirements have brought about far-reaching changes for public corporations, private corporations, and nonprofits. Every manager and director should be aware of how the business landscape will be affected.
The Complete Guide to Sarbanes-Oxley answers in nontechnical language such questions as:
- What does SOX mean to me now?
- Do I have to worry about it?
- How much legal and accounting help do I need?
- What information technology requirements will I face?
If you're a business owner, you need The Complete Guide to Sarbanes-Oxley!
Customer Reviews:
Excellent overview of complicated law.......2007-06-30
Professor Stephen Bainbridge's "Complete Guide to Sarbanes-Oxley" is a well-written, well-organized overview of a very complicated, very intrusive piece of federal legislation. It's as light as possible on the legal-ese, but heavy on the analysis and practical information.
There are two audiences for this important guidebook. First, this is a useful overview for attorneys who need to be "familiar" with Sarbanes Oxley and how this law may affect anyone with a general commercial litigation law practice, or who may represent corporate officers in matters not directly related to corporate governance. This is not meant to be the definitive, comprehensive treatise for big-firm securities lawyers. The prose would need to be too dense to be meaningful for us "dabblers" in corporate law who may occasionally represent a corporate officer.
Second, this is a useful overview for corporate officers, corporate counsel, and accountants. It would serve the same purpose as a traveler's phrase book, allowing you to "speak the language" of securities lawyers and corporate auditors in the event that a "situation" arises. I would even recommend that corporate lawyers, as an act of preventive maintenance, stock a supply of this book to pass out to their clients who are officers of publicly-traded corporations or high-profile non-profits.
If either of these is you, you want this handly summary on your bookshelf.
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- Fundamentals of Financial Management (with Thomson ONE - Business School Edition)
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