How to Read a Financial Report

How to Read a Financial Report Seventh Edition

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 Seventh Edition of How to Read a Financial Report breaks through the language barrier, clears away the fog, and offers a plain-English user's guide to financial reports. The book helps you get a sure-handed grip on the profit, cash flow, and financial condition of any business.

Here's what's new in the Seventh Edition:

• Discussion of the transition to international accounting and financial reporting standards

• A streamlined centerpiece exhibit used throughout the book to explain connections between the three financial statements

• An integrated section on analyzing profit, cash flow, and solvency for investors, lenders, and managers (now Part Two in this edition)

• Reflection on financial reporting and auditing in the post-Enron era

"What distinguishes Tracy's efforts from other manuals is an innovative structure that visually ties together elements of the balance sheet and income statement by tracing where and how a line item in one affects an entry in another."
--Inc.

"An excellent job of showing how to separate the wheat from the chaff without choking in the process."
--The Miami Herald