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How to Read a Financial Report: Wringing Vital Signs Out of the Numbers, 8th Edition

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How to Read a Financial Report: Wringing Vital Signs Out of the Numbers, 8th Edition

John A. Tracy, Tage C. Tracy

ISBN: 978-1-118-73558-9 December 2013 240 Pages

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Description

An updated new edition of the comprehensive guide to reading and understanding financial reports

Financial reports provide vital information to investors, lenders, and managers. Yet, the financial statements in a financial report seem to be written in a foreign language that only accountants can understand. This new Eighth Edition of How to Read a Financial Report breaks through that language barrier, clears away the fog, and offers a plain-English user's guide to financial reports. This updated edition features new information on the move toward separate financial and accounting reporting standards for private companies, the emergence of websites offering financial information, pending changes in the auditor's report language and what this means to investors, and requirements for XBRL tagging in reporting to the SEC, among other topics.

  • Makes it easy to understand what financial reports really say
  • Updated to include the latest information financial reporting standards and regulatory changes
  • Written by an author team with a combined 50-plus years of experience in financial accounting

With this new edition of How to Read a Financial Report, investors will find everything they need to fully understand the profit, cash flow, and financial condition of any business.

List of Exhibits ix

Preface to the Eighth Edition xiii

Part One—Fundamentals

1 Starting with Cash Flows 3

2 Three Financial Statements 11

3 Profit Accounting 23

4 Profit Isn’t Everything 33

Part Two—Connections

5 Sales Revenue and Accounts Receivable 43

6 Cost of Goods Sold Expense and Inventory 49

7 Inventory and Accounts Payable 55

8 Operating Expenses and Accounts Payable 61