Financial Statements A Step By Step Guide to Understanding and Creating Financial Reports
July 4, 2009 by Career Advice · Leave a Comment
Financial Statements A Step By Step Guide to Understanding and Creating Financial Reports
Finally, a resourceful and unique primer on financial statements that uses a creative and different approach to explain every kind of financial report a small business owner or manager needs to succeed. Through an unique visual approach, this book leads users to a clear understanding of how business scores are kept and how to interpret the results.From balance sheets, cash flow statements and income statements, learn how to understand the basic elements that will pave the way to achieving financial success.
User Ratings and Reviews
3 Stars only for those who do not know anything about accounting
If you do not know anything about accounting than it may be book for you. If you want to be able to evaluate stocks or compare them as investments it to simplistic.
5 Stars An amazing start to your understanding of Financial Statements.
This was an amazing book. It broke down the terms and concepts of setting up financial statements, and made it crystal clear. I recommend this book especially for those interested in stocks, because it allows you to understand the heath of any company. This book is worth the buy, and I bought two copies, one for home, and one for school.
5 Stars Plain English
Plain English, I just graduated from college with an accounting degree and I wish I would of had this book to help me get through. Great for refreshing your memory.
5 Stars Quick and Easy Plunger into Financial Statements
Everything you always wanted to know about a financial reports, balance sheets, income statements, cash flow statements etc and how they all are interlinked. Brief and direct on descriptions and always followed by an example. Typically after a brief description of a finacial transaction, changes on balance sheets, cash flow or income statements are broken down into numbered steps that are directly highlighted in the effected statement. On the reports, a corresponding number highlights where that transaction is in the report. Thus a change in depreciation that may require 2 to 3 steps will be indicated directly with matching step numbers on the corresponding report. The author uses a fictional applesauce company for real life examples in a pleasant format throughout the book touched with humor such as writing off the loss on a unpaid bill by a brother-in-law that goes out of business. Starting out with single reports, making you familar one at a time, the author gradually steps up the action using short exercises that show how single transactions can effect all three reports simultaneously. Again by short discussion, step by step examples and then by looking at the corresponding numbered transactions on the reports, the reader can readibly follow and under stand the steps and links between reports. All short explanation followed by easy to follow examples. The final few chapters provide more written detail on what to look for in reports.The book can be plowed through in a day or two or a long day at the airport, although bring an extra book or magazine as this is a direct, quick and relatively fun read.
5 Stars Financial Statements
I found this step by step guide to understanding the three financial statements very helpful. It begins with the breakdown of the financial statements and then incorporates their use in a “mock” corporation.
Talent Is Overrated What Really Separates World Class Performers from Everybody Else
March 29, 2009 by Career Advice · Leave a Comment
Talent Is Overrated What Really Separates World Class Performers from Everybody Else
Expanding on a landmark cover story in Fortune, a top journalist debunks the myths of exceptional performance.
One of the most popular Fortune articles in many years was a cover story called “What It Takes to Be Great.” Geoff Colvin offered new evidence that top performers in any field–from Tiger Woods and Winston Churchill to Warren Buffett and Jack Welch–are not determined by their inborn talents. Greatness doesn’t come from DNA but from practice and perseverance honed over decades.
And not just plain old hard work, like your grandmother might have advocated, but a very specific kind of work. The key is how you practice, how you analyze the results of your progress and learn from your mistakes, that enables you to achieve greatness.
Now Colvin has expanded his article with much more scientific background and real-world examples. He shows that the skills of business—negotiating deals, evaluating financial statements, and all the rest—obey the principles that lead to greatness, so that anyone can get better at them with the right kind of effort. Even the hardest decisions and interactions can be systematically improved.
This new mind-set, combined with Colvin’s practical advice, will change the way you think about your job and career—and will inspire you to achieve more in all you do.
User Ratings and Reviews
3 Stars Practice is Underrated
The author would lead you to believe that most of us have the ability to become a world class NFL receiver like Jerry Rice or composer of Mozart’s stature through “deliberate practice”. Deliberate practice is practice that is focused on the areas in your domain where there is the greatest need for improvement. It is not simply practice makes perfect; it is the kind of practice; it is designed practice that makes perfect. For aspiring pianists, it is hours of solo practice, not group practice, not concerts, but solo practice - and it is not fun. For Jerry Rice it was mountain running and weight training to build up his pattern running ability and durability.
I enjoyed reading Talent Is Overrated. I believe its main thesis of “deliberate practice” is a very useful concept for educators and parents alike. However, I believe the case for key considerations outside of practice - such as natural talents or inclinations - is understated. For example, Jerry Rice is six foot two and he used every inch of that height and reach to make some of the greatest football receptions ever. Most kids are not genetically predisposed to be someday six foot two and all the deliberate practice in the world will not change that.
Perhaps a better, but less engaging title for this book would be ” Practice Is Underrated”. In any case I found the book’s main thesis of deliberate practice to make for worthwhile and enjoyable reading.
4 Stars “Talent is Overrated Serves Two Masters
Geoff Colvin’s book,”Talent Is Overrated” is a great “myth buster”. The two salient points are: 1. Deliberate practice leads to great achievement and 2. Sticking to one domain (field of endeavor) increases the chances for great achievement over changing careers into disparate professions. Colvin makes a compelling case for deliberate practice using case studies of well- known athletes and musicians.
The challenge with “Talent is Overrated” is that is loses its effectiveness by attempting to communicate with two separate audiences with different agendas: Aspiring peak performers and corporate heads. The book empowers aspiring peak performers with a blueprint for phenomenal achievement and in the same breath attempts to encourage corporations to apply similar methodology to its employees. The disconnection is trying to assuage what is fundamentally an individual endeavor with a collective process. It’s unlikely that Jeff Immelt, CEO of GE would have the same commitment and regard for GE employees as Earl Woods had for his son, golf phenom, Tiger Woods. In addition, the pay off isn’t the same. The peak performer “self-actualizes” while the corporate dweller “may” position himself for a corporate suite. The case is lost and the book slightly tarnished when it attempts to “stretch” the case. At that point, it seems Colvin was setting himself up as a business consultant to multinational companies in the vein of Jim Collins of “Built to Last” fame. Colvin’s initial analysis is solid enough for corporations to pick up without the extra marketing.
Overall, “Talent is Overrated” is an excellent book among the pantheon of ideas on peak performance. It fits right into the current political theme of personal responsibility and accountability. It’s truly a book of its time.
Edward Brown
Core Edge Image & Charisma Institute
4 Stars Very interesting
Nutshell review - I think the book’s title is misleading - it is not so much that talent is overrated, it’s not. Talent is hugely valuable and important and those that possess it can achieve extra-ordinary heights. I think a better title would have been that (barring physical barriers) talent can be learned and developed, which will come as a surprise to many, no doubt. Yet the author clearly explains and shows how it can be achieved and by most anyone. The price for becoming truly talented however, whether in sport, business, or any other field, is a high one.
In this fascinating and entertaining book the author shows how you too can play golf like Tiger Woods, play chess like Kasparov, and play the piano like an expert. Just a small problem - you need to start really young, make a huge commitment, and practice, practice, practice beyond imagining. It is a well written book and describes extensive research done into the field of talent, how it is achieved, when and by whom, and how to apply the lessons learned in the business environment. Excellent read and very eye-opening!
1 Star Oh Well, Too Bad There’s A Better Book Called Outliers
What can you do? Gladwell’s Book “Outliers” tackles the same problem, is more insightful, better written, and far more interesting. This book is fine, but why by buy it when there is already a better book? I’ll under-rate “Talent is Overrated.”
4 Stars A very talented book
This is an excellent read that should be required reading for coaches and teachers. At the end of the day, you find that there is so much more required to be outstanding in all endeavors than simply what we explain away with “he is just blessed with god given talent.” He offers great examples to illustrate those things that lead to greatness and challenges you to see a different path.
