by Pamela P. Peterson, Frank J. Fabozzi
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Product Description
Revised and up to date, the Second Edition includes valuable information that addresses questions such as:
* What is transparency and why do we care?
* How can financial statements inform investors?
* How can financial statements mislead investors?
* How has the Sarbanes-Oxley Act changed companies' financial disclosures?
* What should you look for in financial disclosures when judging a company's financial health?
* How do financial statements relate to the value of a company's stock?
* Why is cash flow so important to a company's financial health?
Throughout Analysis of Financial Statements, Second Edition, the authors demonstrate the nuts and bolts of financial analysis by applying the techniques to actual companies. The authors set the stage for financial analysis in Part One with their discussions of financial statements and the quality of financial statements. In Part Two, they walk you through how to judge a company's financial health using financial disclosures in financial ratio analysis, earnings analysis, and cash flow analysis. In Part Three, the authors take analysis a step further by discussing how investors and creditors can use financial statements to more effectively assess a company's performance and risk. Peterson and Fabozzi wrap up this Second Edition with a set of lessons for investors and analysts:
Lesson 1: Understand what you are looking at
Lesson 2: Read the fine print
Lesson 3: If it's too good to be true, it may be
Lesson 4: Follow the money
Lesson 5: Understand the risks
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Average Customer Review:
0 of 0 people found the following review helpful:
 Preparing for CFA, 2008-08-23
I plan to take the first exam of the CFA in December of 2009. This book is part of a series of courses designed to prepare students for these exams. And the book, so far, is excellent. It's very current, up to date, and insightful.
2 of 5 people found the following review helpful:
 how about more discussion of warning signs?, 2007-11-13
[A review of the 2nd edition, 2006.]
What clearly separates this second edition from the first is the analysis of certain prominent companies, since 1999. Notably Enron. In a chapter entitled "The Lessons We Learn", Enron occupies a major place. The authors describe how its financial reports were amazingly falsified, for several years. Yet Enron kept getting plaudits from analysts, and insufficient scrutiny, including from regulators.
This is the last chapter in the book, and way too short. Maybe the authors should also have included studies of other huge blowups, like Adelphia and WorldCom. A lengthier discourse about how to try to detect warning signs in reportings might be more useful to readers.
3 of 61 people found the following review helpful:
Analysis of Financial Statements, 1999-10-01
How to identify the root problem. What we do to identify, to demonstrate the root problem. What tools we can use to analyse the problem. Conclusion: possible solutions.
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