Financial Reporting, Financial Statement Analysis and Valuation

STREAMLINED PRESENTATIONS IN EACH CHAPTER CREATE A WELL-WRITTEN, ACCESSIBLE TEXT. Known for its clear presentation, this edition provides concise, direct discussions that quickly and efficiently emphasize key insights. To ensure a streamlined presentation, some highly technical and accounting-related material now appears only in online appendices that students can easily access.

QUICK CHECKS IN EACH CHAPTER HIGHLIGHT KEY INSIGHTS FOR EVERY SECTION. All content for each section as well as end-of-chapter questions, exercises, problems and cases are cross-referenced to specific learning objectives. This further ensures that your students can implement the critical skills and techniques associated with each of the learning objectives.

KEY CHAPTERS OFFER INSIGHTS ON PROFITABILITY ANALYSIS (CH. 4) AND RISK ANALYSIS (CH. 5). These chapters continue to highlight disaggregation of return on common equity along traditional lines of profitability, efficiency and leverage as well as along operating versus financing lines.

COMPANION WEBSITE FOR THIS EDITION OFFERS UPDATED FINANCIAL RATIOS AND OTHER HELPFUL RESOURCES. An updated Appendix D on the companion website provides descriptive statistics on 20 commonly used financial ratios computed during the past ten years for 48 different industries. This ratios data enables students to benchmark their analyses and forecasts against industry averages.