Financial statements
by Thomas R. Ittelson · first published 1998
89% recommend11% neutral
Why HN recommends it
Accessible walkthrough of the income statement, balance sheet and cash flow statement using a simple running example; explains what each line means and why it matters. Suits programmers and business newcomers.
Summarised by Claude from recommending comments
Amazon readers love this five-star title:"Buy this book first.""Perfect for budding entrepreneurs!""Makes a complicated subject seem like child's play.""A masterpiece for non-financial managers.""The best book available on the subject."Now the best-selling book of its kind has gotten even better. This revised and expanded second edition of Ittelson's master work will give you that firm grasp of "the numbers" necessary for business success. With more than 100,000 copies in print, Financial Statements is a perfect introduction to financial accounting for non-financial managers, stock-market inve
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…Ignoring this subject is dangerous for a company's prospects, and illegal if it causes you to make misleading statements to investors. If anybody is looking for further reading on this subject, I enjoyed "Financial Statements" earlier this year(http://www.amazon.com/Financial-Statements-Step---Step-Under...). Quick and straightforward, it starts with the vocabulary and explains the major financial statements (Income, Cash…
on “Startup Metrics” ↗…completely new to accounting, I think starting with more basic texts would be a better idea. Two that I liked and still refer to from time to time are How to Read a Financial Report by John A Tracy and Financial Statements: A Step-By-Step Guide to Understanding and Creating Financial Reports by Thomas R Ittelson.
on “Annual Letter to Berkshire Shareholders (2019) [pdf]” ↗I've read Code. I also liked Financial Statements by Thomas R. Ittelson. It has a similar tutorial-like approach.
on “Ask HN: Petzold's CODE: books that teach in the same way but not about computers” ↗As a programmer, not an accountant, a great book I enjoyed reading is Financial Statements by Thomas Ittelson. He walks you through all three reports as someone running an applesauce factory. The great thing about this book is it explains not just what each line means, but why you should care…
on “How to Go Bankrupt” ↗I'd recommend the following books: Financial Statements Step by Step (http://www.amazon.com/Financial-Statements-Step-Step-Underst...) Financial Intelligence (http://www.amazon.com/Financial-Intelligence-Revised-Edition...) Financial Intelligence for Entrepreneurs (http://www.amazon.com/Financial-Intelligence-Entrepreneurs-R...)
on “Financial Misstatements” ↗For another light but slightly more in-depth introduction, you might enjoy Financial Statements by Thomas Ittelson. It uses running an applesauce factory as an ongoing example throughout the book. As a programmer with no accounting/finance background, I found it very easy to follow.
on “Financial Statements: A Beginner's Guide” ↗If you don't want to go through thousand page textbooks on financial accounting, managerial accounting, and corporate finance, I recommend the following two short books to everyone: 1. Financial Statements, Thomas Ittelson - https://www.amazon.com/Financial-Statements-Rev-Thomas-Ittel... 2. Financial Intelligence, Karen Berman - https://www.amazon.com/Financial-Intelligence-Revised-Manage... I've also…
on “Ask HN: What are some good resources to learn business administration/finance?” ↗…want to start from "first principles", I thought this book [1] was good for getting right to the meat of accounting. It seems like there's a new edition that came out. [2] [1] https://www.amazon.com/Financial-Statements-Step-Step-Unders... [2] https://www.amazon.com/Financial-Statements-Step-Step-Unders...
on “Google announces Q1 2023 earnings [pdf]” ↗The onramp for finance is accounting. There is no other right answer. This is also essential for general business administration. Accounting is a huge topic; being able to read financial statements is a good, first tangible exercise. Best book I have found for this is Thomas Ittelson, Financial Statements. Using double-entry accounting methods for your own financials with a tool like Beancount…
on “Ask HN: What are some good resources to learn business administration/finance?” ↗Huge, huge topic. You will have to pick a path through the enormous jungle. The starting point I would recommend is bottom up, through accounting and financial statements. Core knowledge, of both practical and intellectual value. Tons of books here, I particularly like Thomas Ittelson - Financial Statements Accessible, straightforward, friendly. After that, any of the…
on “Ask HN: Book recommendations for understanding financial systems?” ↗I'm halfway through Feld and Mendelson's Venture Deals and earlier this year worked through Ittelson's Financial Statements. Having cofounded a startup that raised investor money before, I can state confidently that both are going to make me better at what I do next time I start something. Of course, they're not books about…
on “Business books are entertainment, not strategic tools” ↗http://www.amazon.com/Financial-Statements-Step-Step-Underst...
on “Ask YC: Financial Planning for Startups” ↗