NACD Library

Getting Behind the Numbers 2011

Getting Behind the Numbers 2011 Cover
Series: Directors Handbook Series
Product Code: DHS-019
Publication Date: 2011
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Resource Description:

Corporate directors should know how to read and use accounting reports. They should be able to analyze typical business transactions and determine their effects on the net income and the balance sheet (financial position) of the companies they serve. Getting Behind the Numbers is designed to help directors understand the basic concepts of accounting: the balance sheet, the income statement, the statement of cash flows, sample financials, profitability, asset management, liquidity, market value, and key ratios. Inside the handbook are detailed descriptions of each of these concepts, as well as sample financial statements from a large public company presented for further analysis.

Topics covered include:

  • Basic concepts of accounting
  • Assets 
  • Equities
  • Balance sheet variations
  • The income statement
  • The statement of cash flows
  • Analyzing strengths and weaknesses
  • Fraudulent financial reporting                             

This handbook will help you:

  • Master many generally accepted accounting practice (GAAP) concepts
  • Understand how financial statements are constructed
  • Construct and interpret balance sheets and income statements
  • Differentiate the sources and uses of cash in a business
  • Analyze the strengths and weaknesses of a business
  • Understand the board’s role in preventing and detecting financial fraud in an organization