Book description
The ability to understand financial statements is an essential skill for success today. This comprehensive course teaches students how to read and analyze the reports that are fundamental to gauging the health of any business. It explains how to interpret balance sheets, income statements, and statements of cash flows— and consider the numbers in the context of external economic conditions.
Students will learn to:
• Grasp the basic concepts and principles of financial accounting and reporting
• View key financial statements—the balance sheet, the income statement, and the statement of cash flows—from the perspective of senior management
• Uncover essential data by applying the right type of analysis—ratio, vertical, or horizontal—to the right statement
• Understand recent changes in legislation, rules, and standards of practice that affect accounting and finance
• Follow the provisions of the Sarbanes-Oxley Act and track its impact on the auditing process and the financial statement value chain
• Review industry statistics, competitive considerations, and other nonfinancial information to achieve a deeper understanding of a company’s financial statements
Now completely revised and updated, the second edition of How to Read and Interpret Financial Statements includes a section on the Statement of Comprehensive Income, expanded coverage of off-balance-sheet financing, a glossary of important terms, and updated information on the difference between marketable securities and investments and the impact of changes in fair value on a company’s financial statements. In each chapter, exhibits, examples, and exercises reinforce lessons and give readers the chance to apply new concepts and practice new skills.
Table of contents
- Cover
- Title
- Copyright
- Contents
- About This Course
- How to Take This Course
- Pre-Test
- 1 Understanding Financial Statements
-
2 Types of Financial Statements
- Introduction
- Elements of Financial Statements
- The Balance Sheet
- Income Statement
- Statement of Retained Earnings
- Statement of Cash Flows
- Notes to the Financial Statements and Supplemental Information
- Management’s Discussion and Analysis of Financial Condition and Results of Operation
- Recap
- Review Questions
- Answers to “Think About It...” Questions from This Chapter
- 3 The Balance Sheet: Assets
- 4 The Balance Sheet: Liabilities and Owners’ Equity
- 5 The Income Statement
- 6 The Statement of Cash Flows
- 7 Balance Sheet Analysis
- 8 Income Statement Analysis
- 9 Analysis of Operational Results
- Bibliography
- Glossary
- Online Resources
- Post-Test
- Index
Product information
- Title: How to Read and Interpret Financial Statements
- Author(s):
- Release date: September 2015
- Publisher(s): AMA Self-Study
- ISBN: 9780761215608
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