Star Characteristics:
How far (d in parsecs)?    
Distance to nearby star determined from stellar parallax, p,
which is ½ the maximum angular difference in position:
d (in parsecs) = 1/p    (p in arc seconds)
1 parsec is the distance at which the parallax of a star is 1 arcsec.
Parallax method works for stars closer than about 100 parsecs. 
(1 parsec = 3.26 LY.)
How bright (L in watts)?  Luminosity at the source is determined
from apparent brightness and distance (d). 
Apparent magnitude (old way). We can see about 1,000 stars in
Northern Hemisphere with naked eye.  Hipparchus rated them from
1 to 6.  A '1' is 2.52 x brighter than a '2', etc.  Range in brightness
from the sun at '-26' magnitude to the faintest objects seen at about
'26' magnitude. 
Flux (new 'apparent brightness'): 
b (watts/m2) = L/4πd2 = Power/unit area of sphere.
From d, the distance, we get L, the luminosity (watts of source).