[1118735846] [9781118735848] How to Read a Financial Report: Wringing Vital Signs Out of the Numbers 8th Edition-Paperback

"An updated new edition of the comprehensive guide to reading and understanding financial reports. Financial reports provide vital information to investors, lenders, and managers. Yet, the financial statements in a financial report seem to be written in a foreign language that only accountants can understand. This new Eighth Edition of How to Read a Financial Report breaks through that language barrier, clears away the fog, and offers a plain-English user's guide to financial reports. This updated edition features new information on the move toward separate financial and accounting reporting standards for private companies, the emergence of websites offering financial information, pending changes in the auditor's report language and what this means to investors, and requirements for XBRL tagging in reporting to the SEC, among other topics. Makes it easy to understand what financial reports really say Updated to include the latest information financial reporting standards and regulatory changes Written by an author team with a combined 50-plus years of experience in financial accounting With this new edition of How to Read a Financial Report, investors will find everything they need to fully understand the profit, cash flow, and financial condition of any business"-- 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 eighth 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. This new edition will include updates to the following content: Recent movements in the accounting profession towards establishing separate accounting and financial reporting standards for private companies and for owner/manager and emerging businesses; lack of progress towards internationalization of accounting standards for public companies; requirements for XBRL tagging in reporting to the SEC (by public companies); emergence of popular web sites (e.g., Yahoo!Finance) for financial report information, as contrasted with actually reading a financial report; pending changes in the auditors report language and scope and what this means to investors; and responsibility of accounting profession in the recent financial recession. Additionally, the book will also feature an associated website. The site will include: quizzes and tests, including feedback to reader for both right and wrong answers; Excel-based exhibits like those in the chapter to show alternative scenarios, and what if scenarios; and case studies. "An updated new edition of the comprehensive guide to reading and understanding financial reportsFinancial reports provide vital information to investors, lenders, and managers. Yet, the financial statements in a financial report seem to be written in a foreign language that only accountants can understand. This new Eighth Edition of How to Read a Financial Report breaks through that language barrier, clears away the fog, and offers a plain-English user's guide to financial reports. This updated edition features new information on the move toward separate financial and accounting reporting standards for private companies, the emergence of websites offering financial information, pending changes in the auditor's report language and what this means to investors, and requirements for XBRL tagging in reporting to the SEC, among other topics. Makes it easy to understand what financial reports really say Updated to include the latest information financial reporting standards and regulatory changes Written by an author team with a combined 50-plus years of experience in financial accounting With this new edition of How to Read a Financial Report, investors will find everything they need to fully understand the profit, cash flow, and financial condition of any business"-- Provided by publisher Machine generated contents note: pt. One Fundamentals 1.Starting with Cash Flows 2.Three Financial Statements 3.Profit Accounting 4.Profit Isn't Everything pt. Two Connections 5.Sales Revenue and Accounts Receivable 6.Cost of Goods Sold Expense and Inventory 7.Inventory and Accounts Payable 8.Operating Expenses and Accounts Payable 9.Operating Expenses and Prepaid Expenses 10.Depreciation Expense and Property, Plant, and Equipment; Intangible Assets 11.Accruing the Liability for Unpaid Expenses 12.Income Tax Expense and Its Liability 13.Net Income and Retained Earnings; Earnings per Share (EPS) pt. Three Cash Flow 14.Cash Flow from Operating (Profit-Making) Activities 15.Cash Flows from Investing and Financing Activities 16.Growth and Decline Impacts on Cash Flow pt. Four Analysis 17.Footnotes to Financial Statements 18.Financial Statement Ratios 19.Profit Analysis for Business Managers pt. Five Truthfulness Contents note continued: 20.Choosing Accounting Methods and Massaging the Numbers 21.Audits of Financial Reports 22.Basic Questions, Basic Answers 23.Small Business Financial Reporting.