Financial Statement Analysis

Intended to equip financial analysts for the practical challenges of contemporary business practice. Intended for readers already conversant with basic accounting principles, it addresses the complications that arise when analysts attempt to apply textbook-derived knowledge to the real world of extending credit and investing in securities. Emphasizing the adversarial nature of financial reporting throughout, it discusses the complex motivations of issuers and encourages skepticism about what might seem straightforward financial reporting. In an effort to reflect current financial developments, it uses a number of highly leveraged companies among its examples.