An updated guide to the essential discipline of financial statement analysis
In Financial Statement Analysis, Fourth 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.
This fully revised and up-to-date Fourth Edition offers fresh information that will help you to evaluate financial statements in today’s volatile markets and uncertain economy, and allow you to get past the sometimes biased portrait of a company’s performance.
Reflects changes in the financial reporting landscape, including issues related to the financial crisis of 2008-2009
Provides guidelines on how to interpret balance sheets, income statements, and cash flow statements
Offers information for maximizing the accuracy of forecasts and a structured approach to credit and equity evaluation
Filled with real-life examples and expert advice, Financial Statement Analysis, Fourth Edition will help you gain a firm understanding of the techniques that will help you interpret financial statements, which are designed to conceal more than reveal.
Table of Contents
Part I: Reading between the Lines
Chapter 1. The Adversarial Nature of Financial Reporting
Part II: The Basic Financial Statements
Chapter 2. The Balance Sheet
Chapter 3. The Income Statement
Chapter 4. The Statement of Cash Flows
Part III: A Closer Look at Profits
Chapter 5. What Is Profit?
Chapter 6. Revenue Recognition
Chapter 7. Expense Recognition
Chapter 8. The Applications and Limitations of EBITDA
Chapter 9. The Reliability of Disclosure and Audits
Chapter 10. Mergers-and-Acquisitions Accounting
Chapter 11. Is Fraud Detectable?
Part IV: Forecasts and Security Analysis
Chapter 12. Forecasting Financial Statements
Chapter 13. Credit Analysis
Chapter 14. Equity Analysis
Hardcover: 378 pages
Publisher: Wiley; 4th Edition (July 2011)