Understanding Financial Statements: A Basic Manual for Non-financial Managers

Is your company financially stable? Is it profitable? Does it generate enough cash flow from its primarily business operations? Financial statements provide a valuable tool to understand the financial performance of your company. Every decision you make has financial implications for your organization. The more clearly you understand how your actions are reflected in the financial statements, the more effective you can be in using this information to improve your financial performance.
Understanding financial statements is targeted for nonfinancial professionals who require a basic understanding of accounting terminology and financial information to more effectively manage their business. It explains clearly and concisely the basic financial statements prepared according to generally accepted accounting principles (GAAP) in the United States, and how these statements can assist you to make better business decisions. It discusses three of the four basic financial statements: the balance sheet, the income statement, and the statement of cash flows; it also explains the nature of accrual accounting, the importance of the notes, and the auditor's report.