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Corporate Financial Reporting and Analysis, 3rd Edition

Corporate Financial Reporting and Analysis, 3rd Edition

David Young , Jacob Cohen

ISBN: 978-1-118-47055-8

May 2013

480 pages

Select type: Paperback

In Stock

$179.95

Description

Corporate Financial Reporting and Analysis: A Global Perspective/3e by David Young and Jacob Cohen is an introductory textbook on financial reporting for MBA students.  This book is intended to offer the rigor and comprehensive coverage required of an MBA text, while at the same time offering an accessible and practical reference for participants in executive programs.  David Young is based at INSEAD Business School in France, and Jacob Cohen is based at MIT Sloan School of Management in the USA. 

This book offers a rigorous, yet accessible, treatment of contemporary financial reporting practice. Examples are drawn from a broad range of companies to illustrate key concepts. Particular emphasis is given to the latitude and flexibility granted to managers in reporting financial performance, and the steps that financial statement readers can take to identify potential trouble areas in the accounts. Topics include the analysis and interpretation of the three principal financial statements, revenue recognition, inventory accounting, receivables and bad debts, accounting for long-term assets, provisions and contingencies, income taxes, and the accounting for mergers and acquisitions.

A unique feature of this book is the seamless way in which it deals with differences in U.S. GAAP and IFRS.  Both regimes are covered simultaneously, i.e. when a topic is discussed, including the relevant journal entries and disclosures, the discussion applies equally to GAAP companies and to IFRS companies. It doesn’t matter whether the company used in a given example is from the U.S., Europe, or elsewhere. Thanks to the ongoing GAAP/IFRS convergence project, the two regimes are close enough to allow for a somewhat generic approach that allows for coverage of both regimes at the same time. In this way, the examples that are covered in the book are relevant to all readers, regardless of which regime dominates in their business environment.

The content of this book has been classroom tested over the past 20 years at INSEAD with the MBA class which has students from 80 different countries.

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Chapter 1 - An Introduction to Financial Statements

Chapter 2 - The Balance Sheet and Income Statement

Chapter 3 – A Brief Overview of GAAP and IFRS: The Framework for Financial Accounting

Chapter 4 – Revenue Recognition

Chapter 5 – The Statement of Cash Flows

Chapter 6 – Financial Statement Analysis

Chapter 7 – Business Valuation and Financial Statement Analysis

Chapter 8 – Accounting for Receivables and Bad Debts

Chapter 9 – Accounting for Inventory

Chapter 10 – Accounting for Property, Plant and Equipment

Chapter 11 – Leases and Off-Balance-Sheet Dept

Chapter 12 – Accounting for Bonds

Chapter 13 – Provisions and Contingencies

Chapter 14 - Accounting for Pensions

Chapter 15 – Accounting for Income Tax

Chapter 16 – Accounting for Shareholders’ Equity

Chapter 17 – Accounting for Marketable Securities and Investments

Chapter 18 – Accounting for Mergers and Acquistions

Appendix –   Tables for Present Value and Future Value Factors

  • Presents a clear and comprehensive model for the analysis and interpretation of financial statements linked to strategic analysis and sound principles of corporate finance.
  • Considers the economic role of accounting and the importance of financial statements in global capital markets from a conceptual perspective
  • Shows how financial statement analysis can be tied to business valuation.
  • Offers an interesting and intuitive approach to corporate financial reporting under both IFRS and US GAAP. 
  • Combines the external view of the company with the managerial view of financial statements
  • Provides a strong pedagogical framework including problems, exercises, questions and case studies.
  • Coverage of double-entry book-keeping is included in an appendix to Chapter 1.
  • Includes a chapter on the increasingly important topic of accounting for pensions.
  • Coverage of fair value is also included.
  • The text has been fully updated to reflect recent changes in GAAP and IFRS, and to ensure more comprehensive coverage of critical topics.