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15 Reviews
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7 of 7 people found the following review helpful
5.0 out of 5 stars Delivers on what it promises - financial statement analysis from a practitioners perspective
This book delivers what it promises. It's provides an excellent overview of financial statement analysis from a practitioner's perspective. It provides an overview of the three primary financial statements and their strengths and weaknesses. It discusses how management is able to manipulate revenues and expenses and provides some insight into what to look for in earnings...
Published 14 months ago by Josh

versus
1 of 1 people found the following review helpful
3.0 out of 5 stars Not as practical as it could be
Some of the formulas in practice are a lot simplier in the real world. For the 5th edition I would suggest that they include a couple of current Financial Analyst to provide input.
Published 4 months ago by Lisa Thomas


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7 of 7 people found the following review helpful
5.0 out of 5 stars Delivers on what it promises - financial statement analysis from a practitioners perspective, May 16, 2013
This review is from: Financial Statement Analysis: A Practitioner's Guide (Hardcover)
This book delivers what it promises. It's provides an excellent overview of financial statement analysis from a practitioner's perspective. It provides an overview of the three primary financial statements and their strengths and weaknesses. It discusses how management is able to manipulate revenues and expenses and provides some insight into what to look for in earnings manipulation. It then discusses financial statement projection and company credit analysis. It concludes with an overview of equity analysis. The book provides ample examples and scenarios to clearly explain points, making it an easy book to read and understand. Overall it's an excellent introduction to the world of financial statement analysis written from the perspective of experienced individuals and not academics.
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6 of 6 people found the following review helpful
5.0 out of 5 stars Terrific resource for the independent investor who knows they should understand statements better, November 26, 2012
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This review is from: Financial Statement Analysis: A Practitioner's Guide (Hardcover)
Strongly recommended if you are an independent investor who wants to understand financial statements better yet does not want to train to become an accountant. Some of the insights are numerical - for example the common form balance sheet (where you convert each asset into a percentage of totals and each liability into a percentage of liabilities) was an eyeopener to me even if it may be common knowledge to others. Others of them are about the financial statement as managerial art form - I note that the issue of when software sales should be considered as an asset has yet again hit the headlines as a source of dispute. See the book's section on Aggressive revenue recognition.
Not only is this a masterful exposition it is an enjoyable read. There is a general charming and pleasant tone for example (end Chapter 7): "misleading reporting of expenses can often be detected by careful scrutiny of financial statements. To benefit from such insights analysts must be disciplined enough to disbelieve the innocent explanations that companies routinely provide for ratios that in reality reveal trouble down the road." You have been warned!
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5 of 5 people found the following review helpful
5.0 out of 5 stars Financial Statement Analysis: A Practioners's Guide, February 28, 2013
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This review is from: Financial Statement Analysis: A Practitioner's Guide (Hardcover)
I use this book in my lectures Fundamental Analysis and Valuation for postgraduate students. It is very good supplement to the traditional valuation literature. Not only does it provide a healthy dose of theory in a readable format, but it also offers an abundance of examples. As such the book fully deserves its subtitle. A recommended read for anyone interested in financial statements and finance.
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3 of 3 people found the following review helpful
5.0 out of 5 stars A wealth of knowledge and learning from the best, January 3, 2013
This review is from: Financial Statement Analysis: A Practitioner's Guide (Hardcover)
I learnt more in this one book by the authors at a fraction of the cost than my Investment class as a senior at University...It remains a solid source of reference with respect to the work I do today...I highly recommend it both to seasoned investment professionals and as a training manual for young bankers engaged in today's very sophisticated credit capital markets...You will not be disappointed...
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5 of 6 people found the following review helpful
5.0 out of 5 stars Very Helpful, May 10, 2013
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This review is from: Financial Statement Analysis: A Practitioner's Guide (Hardcover)
I have been analyzing financial statements for decades and I have found this book to be a very useful resource indeed. The book is divided into four parts.They are: Reading between the Lines, Basic Financial Statements, A closer look at Profits, and Forecasts and Security Analysis. The narrative is written in plain English, MBA not required for interpretation, and the material is relevant to credit analysts and securities analysts.

If your looking for a functional and useful guide to financial statement analysis, this book will fit the bill.
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4 of 5 people found the following review helpful
5.0 out of 5 stars Excellent book, changed the way I percieve financial statements from investor point-of-view, November 21, 2012
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This review is from: Financial Statement Analysis: A Practitioner's Guide (Hardcover)
If you know nothing about financial statements, this should not be a book of your choice - it expect you to know basic meaning of financial statement figures. But it helps you to see reality behind the statement and the intentions of its issuer. Armed with knowledge and many real-world examples this book provides, you won't be fooled by clever accounting tricks managers employ to boost their compensations and achieve cheep capital for their companies. Must-read of every value investor.
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1 of 1 people found the following review helpful
3.0 out of 5 stars Not as practical as it could be, March 7, 2014
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This review is from: Financial Statement Analysis: A Practitioner's Guide (Hardcover)
Some of the formulas in practice are a lot simplier in the real world. For the 5th edition I would suggest that they include a couple of current Financial Analyst to provide input.
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3 of 4 people found the following review helpful
3.0 out of 5 stars It's a good analysis, January 31, 2013
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It is somewhat basic and well suited for beginning investors. Material is good for background and thought starters when reading SEC filings. It won't be your only book on the subject. I thought it could stand more case studies.
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5 of 8 people found the following review helpful
5.0 out of 5 stars The gold standard in financial statement analysis, January 23, 2013
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Michael D. Winston (New York, New York USA) - See all my reviews
This review is from: Financial Statement Analysis: A Practitioner's Guide (Hardcover)
Fridson and Alvarez have written a thorough, practical, insightful, relevant and accessible book on financial statement analysis. The motivations, manipulations, costs and benefits related to how we quantify and memorialize business activity are concisely rendered herein, and complemented with a workbook (also available at Amazon). I was first exposed to this book at Columbia Business School in the modern incarnation of the Graham and Dodd course on Security Analysis. Simply put, Financial Statement Analysis is a must read for serious students and practitioners of finance alike. Buy this book, it's the best!
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5 of 8 people found the following review helpful
5.0 out of 5 stars Gold, December 13, 2011
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This review is from: Financial Statement Analysis: A Practitioner's Guide (Hardcover)
This is a great book that gets you beyond the academic approach to financial statements. After orienting you on the premise that obtaining cheap capital is the purpose of financial reporting, the book successfully supports that conclusion.
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Financial Statement Analysis: A Practitioner's Guide
Financial Statement Analysis: A Practitioner's Guide by Fernando Alvarez (Hardcover - July 5, 2011)
$85.00 $50.28
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