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A simple guide to understanding complex financial statements. Financial Accounting Essentials You Always Wanted to Know is back with a new and updated 5th edition! This edition includes two new chapters on the Accounting Cycle. It is a starter pack for new managers and leaders who require a foundational understanding of financial accounting terms and who need to understand why preparing a financial statement is so necessary. After reading this book, managers will be equipped with the critical tools to document finances for shareholders and prepare financial statements for their organization.This book will help one to:•Understand why financial accounting systems are necessary•Learn financial accounting systems and terms•Explore the importance of a Financial Statement•Learn about the concept of Balance Sheet•Understand what is an Income Statement•Learn how to create a Statement of Cash FlowsThis 5th Edition contains two new chapters on:•Accounting Cycle•End of Accounting CycleEach chapter provides clear examples of the financial accounting tools and includes practice examples to help train the reader in the usage of these critical tools.About the SeriesFinancial Accounting Essentials is part of the Self-Learning Management Series that is designed to help students, professionals, and entrepreneurs learn essential management lessons. This series of books is written by industry experts who have combined their vast work experiences into relevant, concise, and practical handbooks that appeal to learners from all spheres of life.