Financial Statement Analysis: A Practitioner's Guide, Third Edition
- 6h 45m
- Fernando Alvarez, Martin Fridson
- John Wiley & Sons (US)
- 2002
The goal of financial statement analysis is to shed light on the true financial condition of a company so realistic valuations can be determined for investment, lending, or merger and acquisition purposes. This important process has become increasingly complex over the years as corporate financial statements have become more difficult to decipher. But with Financial Statement Analysis, Third Edition, you'll learn how to handle the practical challenges that are part of this business.
This definitive guide to the analysis and use of financial statements arms investors, money managers, bankers, and financial analysts with:
- Information that will allow you to "read between the lines" of financial statements and help you get past the biased portrait of a company's performance as represented by its financial statements
- Guidelines on how to interpret balance sheets, income statements, and cash flow statements
- A solid understanding of the lifeblood of the capitalist system--profits--and how earnings can be exaggerated or even fabricated
- Tips for maximizing the accuracy of forecasts and a structured approach to credit and equity evaluation
About the Authors
Martin Fridson is Managing Director at Merrill Lynch & Company and a member of Institutional Investor's All-America Fixed Income Research Team. His other books include How to Be a Billionaire, It Was a Very Good Year, and Investment Illusions, all published by Wiley. He is a past governor of the Association for Investment Management and Research.
Fernando Alvarez is Clinical Associate Professor in the Berkley Center for Entrepreneurial Studies at the Stern School of Business at NYU. His current research focuses on the management of cash flows resulting from changes in working capital requirements, the structure of cash flows, and the sources and uses of capital for the entrepreneurial firm. His research has been funded by the MacArthur Foundation, the Kaufman Foundation, U.S. Trust of Boston, and Wells Fargo Bank.
In this Book
-
Financial Statement Analysis—A Practitioner’s Guide, Third Edition
-
The Adversarial Nature of Financial Reporting
-
The Balance Sheet
-
The Income Statement
-
The Statement of Cash Flows
-
What Is Profit?
-
Revenue Recognition
-
Expense Recognition
-
The Applications and Limitations of EBITDA
-
The Reliability of Disclosure and Audits
-
Mergers-and-Acquisitions Accounting
-
Profits in Pensions
-
Forecasting Financial Statements
-
Credit Analysis
-
Equity Analysis
-
Bibliography
-
Notes
