Financial Statement Analysis: A Practitioner's Guide (Wiley Finance)
Product ID: 10264439
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The updated, real-world guide to interpreting and unpacking GAAP and non-GAAP financial statements In Financial Statement Analysis, 5th Edition , leading investment authority Martin Fridson returns with Fernando Alvarez to provide the analytical framework you need to scrutinize financial statements, whether you’re evaluating a company’s stock price or determining valuations for a merger or acquisition. Rather than taking financial statements at face value, you’ll learn practical and straightforward analytical techniques for uncovering the reality behind the numbers. This fully revised and up-to-date 5th Edition offers fresh information that will help you to evaluate financial statements in today’s volatile markets and uncertain economy. The declining connection between GAAP earnings and stock prices has introduced a need to discriminate between instructive and misleading non-GAAP alternatives. This book integrates the alternatives and provides guidance on understanding the extent to which non-GAAP reports, particularly from US companies, may be biased. Understanding financial statements is an essential skill for business professionals and investors. Most books on the subject proceed from the questionable premise that companies' objective is to present a true picture of their financial condition. A safer assumption is that they seek to minimize the cost of raising capital by portraying themselves in the most favorable light possible. Financial Statement Analysis teaches readers the tricks that companies use to mislead, so readers can more clearly interpret statements. Learn how to read and understand financial statements prepared according to GAAP and non-GAAP standards Compare CFROI, EVA, Valens, and other non-GAAP methodologies to determine how accurate companies’ reports are Improve your business decision making, stock valuations, or merger and acquisition strategy Develop the essential skill of quickly and accurately gathering and assessing information from financial statements of all types Professional analysts, investors, and students will gain valuable knowledge from this updated edition of the popular guide. Filled with real-life examples and expert advice, Financial Statement Analysis, 5th Edition , will help you interpret and unpack financial statements. Review: A great introduction - The book covers a wide range of tools that are used in the financial statements analysis. There are a lot of real-life use cases that stress the limits of these tools and how they could have been used to avoid a risky investment. I'd say, it can be used as an introduction to the world of analysis; however, this is not an easy read. I've re-read it twice and started it anew even more times. The fact that I have started to invest and actually apply some of the advices from the book has has helped me to finish it. Most of the topics should be further researched through Google or sites like Investopedia and some of them require a week+ to settle in. If you're in love with the idea of investment and have little to none experience in the field, this read is totally worth your dollars. Review: Very Helpful - I have been analyzing financial statements for decades and I have found this book to be a very useful resource indeed. The book is divided into four parts.They are: Reading between the Lines, Basic Financial Statements, A closer look at Profits, and Forecasts and Security Analysis. The narrative is written in plain English, MBA not required for interpretation, and the material is relevant to credit analysts and securities analysts. If your looking for a functional and useful guide to financial statement analysis, this book will fit the bill.
| Best Sellers Rank | #1,586,282 in Books ( See Top 100 in Books ) #518 in Accounting (Books) #802 in Financial Accounting (Books) #5,533 in Finance (Books) |
| Customer Reviews | 4.6 out of 5 stars 172 Reviews |
A**R
A great introduction
The book covers a wide range of tools that are used in the financial statements analysis. There are a lot of real-life use cases that stress the limits of these tools and how they could have been used to avoid a risky investment. I'd say, it can be used as an introduction to the world of analysis; however, this is not an easy read. I've re-read it twice and started it anew even more times. The fact that I have started to invest and actually apply some of the advices from the book has has helped me to finish it. Most of the topics should be further researched through Google or sites like Investopedia and some of them require a week+ to settle in. If you're in love with the idea of investment and have little to none experience in the field, this read is totally worth your dollars.
T**M
Very Helpful
I have been analyzing financial statements for decades and I have found this book to be a very useful resource indeed. The book is divided into four parts.They are: Reading between the Lines, Basic Financial Statements, A closer look at Profits, and Forecasts and Security Analysis. The narrative is written in plain English, MBA not required for interpretation, and the material is relevant to credit analysts and securities analysts. If your looking for a functional and useful guide to financial statement analysis, this book will fit the bill.
C**E
Great for the subject content
Great for the subject content
Z**L
Excellent book, changed the way I percieve financial statements from investor point-of-view
If you know nothing about financial statements, this should not be a book of your choice - it expect you to know basic meaning of financial statement figures. But it helps you to see reality behind the statement and the intentions of its issuer. Armed with knowledge and many real-world examples this book provides, you won't be fooled by clever accounting tricks managers employ to boost their compensations and achieve cheep capital for their companies. Must-read of every value investor.
R**S
Financial Statement Analysis: A Practioners's Guide
I use this book in my lectures Fundamental Analysis and Valuation for postgraduate students. It is very good supplement to the traditional valuation literature. Not only does it provide a healthy dose of theory in a readable format, but it also offers an abundance of examples. As such the book fully deserves its subtitle. A recommended read for anyone interested in financial statements and finance.
G**E
Great Resource
Great resource for financial statement analysis and offering different case studies on financial statements and different companies.
S**R
F.S.A.
The book looks great! Easy to read. Worth the knowledge
D**N
FSA and FSA Workbook are the Primer for Investment Analysis and Portfolio Management
Developing your Plan for Financial Security is a Multiple Step Process and Financial Statement Analysis is one of the Primary Building Blocks.
N**N
Great book on Analyzing Financial Statements
One of my favourite books on this topic. You can't have enough books on this topic if this is your thing. Penman is great, but big. Graham and Dodd are great, but old. English is great too, but short. I'd recommend reading all of them but cannot understand the bad reviews for this book.
R**I
Too expensive
Price too high for content it carries
H**Y
Reads better than a text book
I am reading it a chapter at a time, because certainly it is not an overly exciting read; but there is a lot of fiction in Financial statements, and this book urges you to be aware of them. It is thankfully not set up as dry text book you would find in a college or university. In fact.. some of the chapters are a bit of a mystery, a who and how they done it. Fidgeting their income, or expenses, and showing how the outside auditors should be detectives, but that no longer seems to be the case as they want to keep their own expenses down, and now instead of being an antagonist, tout themselves more as team players on the team of their 'client', which is like a referee offering to be helpful to a team. The author wisely points out that although we want Financial statements to accurately reflect the financial health of a company, the numbers can be fudged to help gain a bonus for the CEO or make sure that Wall st. looks positively on their numbers. This book gives you an inside view of the cat and mouse game that you must play to interpret the numbers, and I think this is a must read for any financial analyst.
C**N
Completo pero caro para el contenido
El libro se centra en ejemplos de compañías que intentan dar una imagen falsa a través de su contabilidad, incluso casos de fraude. Los ejemplos están actualizados y están bien explicados. En cuanto al análisis y valoración de empresas, acciones y bonos, es más básico de lo que esperaba, pero también es claro.
W**I
Five Stars
Worth the price
Trustpilot
4 days ago
3 weeks ago