by Erich A. Helfert
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Product Description
The unique, central concept of Techniques of Financial Analysis is the “business system,” an effective and intuitive way of visualizing the key areas of the typical business organization, and the related investment, operating, and financing decisions that drive its performance and value. This cash flow model (see Chapter 1) serves as the basic structure to which all analytical concepts and tools are related, so that the student is always aware of the larger operational and strategic context in which these techniques should be applied to properly understand the process of successful value creation in a business. Such contextual insight is critical in a specialized subject like financial analysis, which is generally taught in a dry, accounting-oriented fashion. The presentation has always been kept up to date and is carefully designed to help the reader visualize the linkage between management decisions and financial performance and value. Very importantly, the book demonstrates the modern requirement to distinguish between cash flow (economic) and accounting-based analysis. It helps the reader to interpret financial reports, develop integrated financial projections, understand basic financial modeling, evaluate business investment decisions, develop the implications of financing choices, derive the value of a business or a security, and understand the support role of economic analysis in achieving shareholder value creation. Every technique and measure is described and demonstrated in the context of the underlying key financial and economic concepts, but without delving into theoretical abstraction.
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Average Customer Review:
2 of 2 people found the following review helpful:
 Book is great, software related to the book is not, 2006-12-09
The graphical presentations and practical explanations are very helpful to valuation practitioners. I was so impressed I purchased the related software that is promoted in and modeled after the book. It never functioned correctly, and after a week of trying to reach technical support I finally reached them and they didn't really try to resolve the software's Visual Basic malfunction. Book is great, but ignore it's promotion of the software.
22 of 23 people found the following review helpful:
 The Professor Says:, 2001-05-18
Having read his sixth edition, I was impressed enough with the 10th edition that I use it for the college class I teach. Unlike most books in this area, Dr. Helfert's book is easy to read and VERY practitioner oriented. I truly believe that if you have an interest in financial analysis, either as an investor or from the perspective of running your own organization, this is the single most valuable resource you could own. If I didn't believe that was true, I'd have my students using a different book.
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