Product Description

Hidden somewhere among all the numbers in a financial report is vitally important information about where a company has been and where it is going. This is especially relevant in light of the current corporate scandals.
The sixth edition of this bestselling book is designed to help anyone who works with financial reports--but has neither the time nor the need for an in-depth knowledge of accounting--cut through the maze of accounting information to find out what those numbers really mean.

Product Details

• Amazon Sales Rank: #10731 in Books
• Published on: 2004-02-27
• Number of items: 1
• Binding: Paperback
• 216 pages

Book Info
Designed as a resource for professionals and individuals, demonstrating how to make sense of financial reports that contain vitally important information about where a company has been and where it is headed. Previous edition c1994. Softcover. DLC: Financial statements.

Card catalog description
If you're someone who works with financial reports or needs to understand them - but have neither the time nor the need for an indepth knowledge of accounting - this book will help you cut through the maze of accounting information to find out what those numbers really mean. It steers you quickly and painlessly through the basic accounting concepts and line-by-line explanations of the basic financial statement. Complete with a visual guide that leads you through the intricacies of financial reporting, How to Read a Financial Report shows you how the three essential parts of every financial report - the balance sheet, the income statement, and the cash flow statement - fit together and what it all means to you and your company.

From the Inside Flap
How to Read a Financial Report

Lurking somewhere amidst all the figures in a financial report is vitally important information about where a company has been and where it is headed. But without a guide to isolate and interpret those numbers, the dizzying array of columns and rows doesn’t add up to a hill of beans. That’s why thousands of professionals and savvy individuals have referred to this bestselling resource that shows anyone how to make sense of all those numbers.

If you’re someone who works with financial reports or needs to understand them—but have neither the time nor the need for an indepth knowledge of accounting—this book will help you cut through the maze of accounting information to find out what those numbers really mean. It steers you quickly and painlessly through the basic accounting concepts and line-by-line explanations of the basic financial statement. Complete with a visual guide that leads you through the intricacies of financial reporting, How to Read a Financial Report shows you how the three essential parts of every financial report—the balance sheet, the income statement, and the cash flow statement—fit together and what it all means to you and your company.

Updated throughout, this new edition addresses the many changes in the financial world in the past few years, including new pronouncements of the Financial Accounting Standards Board, new income tax laws, and emerging financial reporting problems. Also, all exhibits have been made easier to follow. Features updates on:

• Tax reform
• Recent FASB rulings
• Depreciation methods
• Spotting fraudulent reporting

Customer Reviews

Quick and excellent read!
Well written and informative. Book is divided into short and very digestible chapters that focus on various aspects of financial reporting. I found the information on the future of the auditing and financial reporting industry following the downfall of Enron and Worldcom and the passage of Sarbanes-Oxley to be particulary timely and interesting.

Read this BEFORE you take accounting!
As a first year MBA in the middle of my accounting course I was still struggling. I'd aced Accounting as an undergrad, but only then realized Accounting in undergrad is more akin to book-keeping than financial analysis - BIG difference!

A friend recommended this as an additional book that might help explain things, so I ordered a copy. If only I'd read this before starting the course! It explains, in neat and concise language, many of the concepts with which I'd been having a large amount of trouble. It quickly shows how the balance sheet, income statement, and cash flow statement work together to explain what is happening in the business.

My only complaint is that this book doesn't really discuss journal entries. Perhaps that's intentional and might be one reason why this book works, but given how effective it is at simplifying everything else, I would love to have the benefit on Tracy's insight on this as well.

While this book would never replace a full accounting textbook, it should be required reading before ever touching any major text. By focusing on one single company and set of statements, you can concentrate on the concepts without having to try to understand a different set of numbers. This makes a world of difference when trying to understand how everything works together. Once these basic concepts are understood, more advanced details make more sense and things fall into place much, much faster.

Make no mistake: accounting is a different language that takes a long time to learn. Think of this book as a phrase book you use to learn the essentials before (if you must) tackling how the language works. No, you won't be able to tear apart the books and become a genius investor, but it'll turn on the lightbulb that will let you understand other books.

Very Good~
The book is completely new and I received it only a few days after I ordered it.