Customer Reviews

Financial Statement Analysis And Annual Report Booklet Package

5 star:		(1)
4 star:		(3)
3 star:		(1)
2 star:		(1)
1 star:		(2)

 

 

I was not impressed with this text. Apparently, the folks at AIMR thought it would be a good idea to make guinea pigs out of last year's CFA Level One candidates by forcing this book down our throats. My experience as well as those who worked alongside with me on this book (and numerous others on CFA message boards!) found the text to be as pleasant as eating a cement brick.

To me, the two professors who wrote this book, while very smart, have little or no ability to communicate in clear and simple english the finer points of financial statement analysis. It is a book written by a clique of musty, tome-reading academics, for a similar group of academics. Examples are sparse, obscure, and insufficient. The text is nothing more than a regurgitation of rules, with little attempt at clarification in plain English.

The text can be characterized by its economy of text; outline the point, and let others figure out what it means; move onto the next subject, and be similarly tight-fisted with explanation.

If you want a book that will cost of a lot of money, and one that will likely only line your bookshelf, this is definitely one for you. However, if you want something that you can actually use and understand, then I suggest you pick up Sondhi & Fried's version of "The Analysis and Use of Financial Statements." I opted to buy this text as a companion to the CFA curriculum because of its clarity and generous use of examples. Apparently, because of all the ruckus and distaste for Bernstein & Wild's text last year, AIMR has decided to drop this text from the curriculum, and move back to the tried-and-true Sondhi & Fried text mentioned above.

Tried using this turgid volume for 1999 CFA level 1. It is appalling. Technically the authors know their stuff - as one would hope - but they make it as dull as ditchwater. Very hard to read without feeling a pressing need to do something, anything, else. I only give it 1 star because I cannot give it none. AIMR have reverted to the Sondhi & Fried book for L1 and L2. Thank you thank you thank you.

Anyone want to buy a doorstop? One careful owner.

I read this book because it was the official textbook for CFA Level 1 test. AIMR later dropped it and returned to White and Sondhi for the year 2000. Personally, I agree.

This should be a fairly good financial analysis book, but because of its uncommunicative wording, it is not appealing indeed. Agree with a reader from England, it is dull.

If the authors add their comments and pour some additional opinion and insights, this book will be much better.

It appears that the book lost its good image (since 1973?) because most of its current readers have read the White & Sondhi's book. If they not read the White & Sondhi before they read this book, they might viewed this book much much better. In my opinion, the readers will get relatively the same knowledge from both books.

Despite this book's imposing thickness and dense script, it is by far the best reference for detailed financial analysis. Its examples from real data are the best part of the book since they give a solid understanding of analysis that proves subjective in practice. This book is not for the beginner or for people expecting to use it for simple, back of the envelope financial analysis, but is the best resource for financial valuations used in M&A and securitization exercises.

This is one of the best text books I've read so far in the field of financial analysis. The book provides most of the tools needed for serious digging of financial data and finding its implications. It's well organizated and well written. The book, however, requires accounting backgrounds to understand and may be a little difficult for beginners. All in all, this can serve a great reference for both students and professionals, and especially suitable for those interested in fundemental analysis.

First published in 1973 and used from inception by the initial CFA program this classic text has been used by many thousands of students and professionalsthrough 6 editions. Please judge this text on its merits and be wary of planted sour grapes comments of a competing text which lost out.

This is the required accounting text for the CFA Level 1 Exam for which I am currently preparing. While many of the other reviews may rate this a great practitioner's reference, I'd like to offer a student's perspective.

I've often needed to re-reference my financial & managerial acct'g text from undergrad days to follow certain sections of this text. AIMR stresses background reading before tackling this text, and they're absolutely right. Bernstein & Wild are no doubt thorough in their work, but don't bother with this text if your not that serious a reader/student.

The questions, problems, exercises, etc. at the end of each section are also thorough, but very few can be traced back to relevant examples in the reading. Unless you purchase the accompanying solutions manual, you're on your own.

The material's level of detail is occasionally abrupt. I've often needed to reread the same sentences several times to reinforce my understanding.

Going forward, this text will no doubt serve me as an excellent reference. But for the time being, it's a challenging text in preparing for the CFA I exam.

This is one of the best text books for financial analysis. The book provides various techniques and disciplines for serious digging of financial data. The text is well organized, easy to follow, and well written. The author provides one real world financial statement for analysis and the whole book uses that only one F/S to show how you can use the various tools to analyze a company. That provides a united theme and a sense of consistency. It's definately a good book for wheel-chair financial analysts. The book, however, requires accounting background to understand, and, of course, the book is expensive.