1. Working with Income Statements

In many ways, operating a business is like playing a game—a serious one, of course—and keeping track of your business is similar to studying games such as baseball. Serious baseball fans know hundreds of statistics, such as batting averages and strikeouts. Similarly, if you are serious about your business, you need to be able to measure and understand the numbers that describe how your company operates. Accounting in general and financial statements in particular provide ...

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