Beginner's Handbook and Guide to Financial Statements and Financial Ratios
Understanding financial statements and financial ratios are not just requirements for accountants. Business owners, as well as, business students, finance students, management students and accounting students need to have a solid foundation in relations to understanding financial statements and financial ratios in order to be successful in their academic and business endeavors.
Unfortunately, most finance and accounting books spend little time thoroughly explaining financial ratios and financial statements. Because of this issue, students and business owners are often left with little to no understanding of financial statements and ratios.
"Beginner's Handbook and Guide to Financial Statements and Financial Ratios" by Paul Borosky, MBA. and owner of Quality Business Plan, is meant to mitigate the issue of business owners and students not understanding financial statements and financial ratios. As shown below, I discuss various aspects of the book that may assist in better understanding the concepts.
In this section, I walk through a broad definition as to what an income statement is and why it is important. From this, I then discuss each line item, such as revenues, gross profits, etc. in detail. After each line item is defined and discussed, I then offer various analysis tips for analyzing financial statements, specifically the income statement.
In this section, I again go through each line item for the balance sheet. In reviewing each line item, I will define the line item, such as cash, property, plant and equipment, and liabilities. Next, I will then go into tips and tricks regarding analyzing the specific line item.
For this section, I have chosen about 16 different financial ratios to review. In reviewing each ratio, I first start with defining the ratio. Next, I supply the financial formula for calculating the specific ratio. Finally, I offer analysis tips for scrutinizing this ratio.
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