Financial Statements, Third Edition

A Step-by-Step Guide to Understanding and Creating Financial Reports

By: Thomas Ittelson

Narrated by: Paul Heitsch

Thomas R. Ittelson is an expert at translating complicated financial topics in an accessible way for non-financial audiences. In this book, he empowers listeners by clearly and simply demonstrating how the three major accounting statements interact to offer a snapshot of a company's financial health.

This book teaches listeners 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: The income statement shows the manufacturing 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. 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. 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.

With two new major topic sections, this third edition of Financial Statements is simply the clearest and most comprehensive introduction to financial reporting available. No accounting background is required.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2020 Thomas R. Ittelson (P)2020 Gildan Media

An value added resource

This book is very easy to understand, and the concepts are explained in detail.

Easy to listen to

It’s a very informative book and it doesn’t drag you down to listen to a lot of financial books are hard to sit through

Useful insight

Books like this don't really work that well as audiobooks; it's hard to follow what the author is conveying a lot of the time. I did still manage to gain some insight from this book though, so it was not a complete waste of time.