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Financial statement analysis : a practitioner's guide /

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The updated, real-world guide to interpreting and unpacking GAAP and non-GAAP financial statements In Financial Statement Analysis, 5th Edition, leading investment authority Martin Fridson returns with Fernando Alvarez to provide the analytical framework you need to scrutinize financial statements,...

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Bibliographic Details
Main Authors: Fridson, Martin S. (Author), Alvarez, Fernando, 1964- (Author)
Format: eBook
Language:English
Published: Hoboken, New Jersey : John Wiley & Sons, Inc., [2022]
Edition:Fifth edition.
Series:Wiley finance series.
Subjects:
Financial statements.
Ratio analysis.
Online Access:Connect to the full text of this electronic book
Table of Contents:
  • Cover
  • Title Page
  • Copyright
  • Dedication
  • Contents
  • Preface to Fifth Edition
  • Acknowledgments
  • Part 1 Reading Between the Lines
  • Chapter 1 The Adversarial Nature of Financial Reporting
  • The Purpose of Financial Reporting
  • The Flaws in the Reasoning
  • Small Profits and Big Baths
  • Maximizing Growth Expectations
  • Downplaying Contingencies
  • The Importance of Being Skeptical
  • Conclusion
  • Part 2 The Basic Financial Statements
  • Chapter 2 The Balance Sheet
  • The Value Problem
  • Comparability Problems in the Valuation of Financial Assets
  • Instantaneous Wipeout of Value
  • How Good Is Goodwill?
  • Losing Value the Old-Fashioned Way
  • True Equity Is Elusive
  • Book Value May Overstate Reality
  • Pros and Cons of a Market-Based Equity Figure
  • The Common Form Balance Sheet
  • Conclusion
  • Chapter 3 The Income Statement
  • Making the Numbers Talk
  • How Real Are the Numbers?
  • Conclusion
  • Chapter 4 The Statement of Cash Flows
  • The Cash Flow Statement and the Leveraged Buyout
  • Analytical Applications
  • In Defense of Slack
  • Conclusion
  • Part 3 A Closer Look at Profits
  • Chapter 5 What Is Profit?
  • Bona Fide Profits versus Accounting Profits
  • Which Costs Count?
  • Conclusion
  • Chapter 6 Revenue Recognition
  • Making It Up at Gowex
  • Globo's Foreseen Fall from Grace
  • Channel-Stuffing in the Drug Business
  • A Second Take on Earnings
  • Making the Numbers at M/A-Com
  • Astray on Layaway
  • Recognizing Membership Fees
  • A Potpourri of Liberal Revenue Recognition Techniques
  • Fattening Earnings with Empty Calories
  • Tardy Disclosure at Halliburton
  • Managing Earnings with Rainy Day Reserves
  • Fudging the Numbers: A Systematic Problem
  • Conclusion
  • Chapter 7 Expense Recognition
  • Diamond Foods's Movable Expenses
  • Nortel's Deferred Profit Plan
  • Grasping for Earnings at General Motors
  • Time-Shifting at Freddie Mac
  • Conclusion
  • Chapter 8 The Applications and Limitations of EBITDA
  • EBIT, EBITDA, and Total Enterprise Value
  • The Role of EBITDA in Credit Analysis
  • Abusing EBITDA
  • A More Comprehensive Cash Flow Measure
  • Working Capital Adds Punch to Cash Flow Analysis
  • Conclusion
  • Chapter 9 The Reliability of Disclosure and Audits
  • Where Was the Cash?
  • Sloppiness Can Be a Red Flag
  • How Manipulation Evades Detection
  • Systematic Problems in Auditing
  • Conclusion
  • Chapter 10 Mergers-and-Acquisitions Accounting
  • Goodwill Goes Bad
  • Double Trouble
  • Conclusion
  • Chapter 11 Is Fraud Detectable?
  • Telltale Signs of Manipulation
  • Fraudsters Know Few Limits
  • Enron: A Media Sensation
  • HealthSouth's Excruciating Ordeal
  • Milk and Other Liquid Assets
  • Trouble Was Brewing at Luckin
  • Conclusion
  • Part 4 Forecasts and Security Analysis
  • Chapter 12 Forecasting Financial Statements
  • A Typical One-Year Projection
  • Sensitivity Analysis with Projected Financial Statements
  • Projecting Financial Flexibility