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International Financial Statement Analysis Workbook, 3rd Edition

ISBN: 978-1-119-02972-4
208 pages
January 2015
International Financial Statement Analysis Workbook, 3rd Edition (1119029724) cover image

Description

International Financial Statement Analysis provides the most up-to-date detail for the successful assessment of company performance and financial positions. This rich, clear reference covers all aspects from financial reporting mechanics and standards to understanding income and balance sheets. Comprehensive guidance toward effective analysis techniques helps readers make real-world use of the knowledge presented, with this new third edition containing the most current standards and methods for the post-crisis world. Coverage includes the complete statement analysis process, plus information on income tax accounting, employee compensation, and the impact of foreign exchange rates on the statements of multinational corporations.

  • Understand the accounting mechanics behind financial reporting
  • Discover the differences between statements from around the world
  • Learn how each financial statement element affects securities valuation
  • Master analysis for clues into operations and risk characteristics

International Financial Statement Analysis provides the latest rules and best practices, with clarity and expert advice.

International Financial Statement Analysis Workbook helps busy professionals understand and apply the concepts and methodologies essential to accurate financial analysis. A companion to the IFSA text, this workbook offers learning objectives, chapter summaries, and practice problems that reinforce the practitioner-oriented material to give readers the confidence they need before applying these concepts to real cases. Readers will test their understanding of the standards and mechanics of financial reporting, and make use of the tools and techniques described in the text. This informative study guide is designed to facilitate information retention, helping readers build a strong foundation in financial statement analysis, with practical applications across borders.

The volatile global economy makes accurate international financial statement analysis a valuable skill, where insufficient mastery makes precise valuation impossible. International Financial Statement Analysis provides the most up-to-date knowledge, and this workbook offers readers a chance to practice applying that knowledge with carefully constructed problems.

  • Work topic-specific practice problems to facilitate intuitive understanding
  • Review each topic quickly using clear chapter summaries
  • Understand each chapter's objective to avoid missing key information
  • Practice important methods and techniques before applying them in the real world

It's impossible to tell how well a subject is mastered without applying the relevant concepts to a real-life situation. Valuation depends upon an accurate financial analysis, and practitioners need a solid grasp of the standards, formats, and documentation they may encounter on the international level. Practice makes perfect, and International Financial Statement Analysis Workbook provides plenty of practice and essential tools for understanding.

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Table of Contents

PART I

Learning Outcomes, Summary Overview, and Problems

CHAPTER 1

Financial Statement Analysis: An Introduction 3

Learning Outcomes 3

Summary Overview 3

Problems 5

CHAPTER 2

Financial Reporting Mechanics 7

Learning Outcomes 7

Summary Overview 7

Problems 8

CHAPTER 3

Financial Reporting Standards 13

Learning Outcomes 13

Summary Overview 14

Problems 15

CHAPTER 4

Understanding Income Statements 19

Learning Outcomes 19

Summary Overview 20

Problems 21

CHAPTER 5

Understanding Balance Sheets 25

Learning Outcomes 25

Summary Overview 25

Problems 27

CHAPTER 6

Understanding Cash Flow Statements 31

Learning Outcomes 31

Summary Overview 31

Problems 32

CHAPTER 7

Financial Analysis Techniques 37

Learning Outcomes 37

Summary Overview 37

Problems 38

CHAPTER 8

Inventories 45

Learning Outcomes 45

Summary Overview 45

Problems 47

CHAPTER 9

Long-Lived Assets 61

Learning Outcomes 61

Summary Overview 62

Problems 64

CHAPTER 10

Non-Current (Long-Term) Liabilities 73

Learning Outcomes 73

Summary Overview 73

Problems 75

CHAPTER 11

Financial Reporting Quality 79

Learning Outcomes 79

Summary Overview 79

Problems 80

CHAPTER 12

Financial Statement Analysis: Applications 83

Learning Outcomes 83

Summary Overview 83

Problems 84

CHAPTER 13

Income Taxes 87

Learning Outcomes 87

Summary Overview 88

Problems 88

CHAPTER 14

Employee Compensation: Post-Employment and Share-Based 93

Learning Outcomes 93

Summary Overview 93

Problems 94

CHAPTER 15

Intercorporate Investments 101

Learning Outcomes 101

Summary Overview 101

Problems 102

CHAPTER 16

Multinational Operations 111

Learning Outcomes 111

Summary Overview 112

Problems 114

CHAPTER 17

Evaluating Quality of Financial Reports 121

Learning Outcomes 121

Summary Overview 121

Problems 123

CHAPTER 18

Integration of Financial Statement Analysis Techniques 125

Learning Outcomes 125

Summary Overview 125

Problems 126

PART II

Solutions

CHAPTER 1

Financial Statement Analysis: An Introduction 135

Solutions 135

CHAPTER 2

Financial Reporting Mechanics 137

Solutions 137

CHAPTER 3

Financial Reporting Standards 141

Solutions 141

CHAPTER 4

Understanding Income Statements 143

Solutions 143

CHAPTER 5

Understanding Balance Sheets 145

Solutions 145

CHAPTER 6

Understanding Cash Flow Statements 147

Solutions 147

CHAPTER 7

Financial Analysis Techniques 151

Solutions 151

CHAPTER 8

Inventories 155

Solutions 155

CHAPTER 9

Long-Lived Assets 161

Solutions 161

CHAPTER 10

Non-Current (Long-Term) Liabilities 165

Solutions 165

CHAPTER 11

Financial Reporting Quality 167

Solutions 167

CHAPTER 12

Financial Statement Analysis: Applications 171

Solutions 171

CHAPTER 13

Income Taxes 173

Solutions 173

CHAPTER 14

Employee Compensation: Post-Employment and Share-Based 175

Solutions 175

CHAPTER 15

Intercorporate Investments 179

Solutions 179

CHAPTER 16

Multinational Operations 183

Solutions 183

CHAPTER 17

Evaluating Quality of Financial Reports 187

Solutions 187

CHAPTER 18

Integration of Financial Statement Analysis Techniques 189

Solutions 189

About the CFA Program 193

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Author Information

THOMAS R. ROBINSON, PHD, CFA, is Managing Director of the Americas at CFA Institute.

ELAINE HENRY, PHD, CFA, is a Clinical Associate Professor of Accounting at Fordham University.

WENDY L. PIRIE, PHD, CFA, is Director, Curriculum Projects, in the Education Division at CFA Institute and served as editor for this book.

MICHAEL A. BROIHAHN, CFA, is Associate Professor of Accounting at Barry University in Miami Shores, Florida.

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