Financial Statements offers the clearest and most comprehensive introduction to financial reporting. This revised and expanded edition features Ittelson's master work that will give you that firm grasp of "the numbers" necessary for business success. Ittelson empowers non-financial managers by clearly and simply demonstrating how the balance sheet, income statement and cash flow statement work together to offer a "snapshot" of any company's financial health. He provides simple and understandable language, basic and straightforward examples, and a unique visual approach that allows you to see exactly how each transaction affects these three key financial statements.
THE 3 FINANCIAL STATEMENTS
Income Statement: Shows the manufacturing and selling actions of the company, giving an important perspective on the company's performance and profitability.
Balance Sheet: Records at the end of a period: what a company owns and what it owes, including the owner's stake called shareholder's equity.
Cash Flow Statement: Details Cash into and out of the company for a period.