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Simplifying the Basics of Financial Statements for Stock Market Investments

July 11, 2012 by Laura Blodgett 7 Comments

Does trying to understand financial statements for stock analysis make you crazy?
The stock market investor suffering from information overload

With all the TONS of information out there, you’d think someone would be saying something comprehensible about the stock market!  Yes, a few of them do, but it often seems like they are spouting details to me in secret code, intending to be helpful, but sending my brain into a cascading meltdown.  Then there is Mariusz Skonieczny.

His 113 page book arrived today and I read it this evening.  It is called  The Basics of Understanding Financial Statements: Learn how to read financial statements by understanding the balance sheet, the income statement, and the cash flow statement.  Of all the explanations of this I have read, this is by far the most clear, concise, AND complete.  When I say complete, I don’t claim to have expertise.  What I mean is that I came away with an awareness of how all the financial statements are connected and how to use the information in each.  I’m sure I’ll be referring back to the book as I try to apply it, which is why I recommend the paper copy.

I have observed two of our children take basic college level accounting courses this past year.  I think Mr. Skonieczny could teach the courses in a day with his careful and straightforward manner.  He takes the tedium out of it by making it meaningful and rational.  If you manage your own checkbook, and can understand basic fractions, you can understand his presentation.  It will put a smile on your investing face.

simplify understanding financial statements relaxed smiley
The contented stock market investor

 

Filed Under: Money, Stock Market Diaries Tagged With: book reviews, stock market diaries

Comments

  1. Dad says

    July 11, 2012 at 9:25 pm

    Your new book sounds like a useful addition to your library. I’ll consider you to be my “Go To” resource the next time I’m experiencing financial-statement mental block. The thing that has always frustrated me with financial statements is that conceptually they are simple but in practice I find them routinely playing fast and loose with line-item nomenclature.

    Reply
    • Laura says

      July 11, 2012 at 9:38 pm

      Dad, I think he may actually explain some of that. I remembered you mentioning that and so it was on my mind when reading. I can let you borrow the book. Like I said, it’s only 113 pages. Since you already have a good grasp of the subject, it should be an even faster read for you.

      Reply
  2. Rahul says

    April 5, 2013 at 6:26 am

    good post..found this video helpful –
    https://www.youtube.com/watch?v=ZtQKrPBz3XA

    Reply

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