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How to Read a Financial Report: Wringing Vital Signs Out of the Numbers 7th Edition
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Top Customer Reviews
Most important it explains the relationships clearly between the income statement, balance sheet, and cashflow statement. This book would be great for anyone starting an education in finance or for any investor trying to broaden their knowledge base. If you invest in stocks, you should learn how to read financial statements. This book will give you some much needed knowledge that you can use as you scour for companies to invest in.
This author takes pride in his writing. John A. Tracy is a professor of accounting, but his knack for concise explanations and the clear use of the English language is evident throughout.
Financial statements are, for some, a challenge and one they can easily master with an understanding of basic accounting. For others with no prior knowledge of accounting, financial statements can be a nightmare. While this book will HELP TO SIMPLIFY the matter, without some previous experience the book may be quite confusing. First of all, one should at least be familiar with general accounting terminology. If you are, it will simplify this book enormously and make the learning experience more enjoyable. However, be prepared to sit down and devote your utmost concentration to the book. The subject matter is not one that can be mastered by skimming through the book in an evening or two. For many individuals, understanding financial statements is a course that takes months to completely understand. Some learn the process easily, others never master the challenge no matter how long or hard they try. The degree of success usually depends, in part, on apptitude, commitment and previous knowledge and experience of the reader.
Another aspect of this book is the ratio of success-to-effort one gets out of reading this book. Professsor Tracy's experience and time spent thinking about this topic is clearly demonstrated by his ability to explain just enough to allow even the rank beginner to understand financial statements.
The big "letdown" with most "Dummies" books I've read is that they're too wordy, too thin on substance, and you feel like you're wanting more. THIS IS NOT THE CASE WITH "HOW TO READ A FINANCIAL REPORT" BY JOHN TRACY.
Instead, Tracy's book is that rare book for "non-majors" that is written clearly, does not require prior knowledge of the subject, and may be all that a "non-financial" manager, such as a salesperson, marketing manager, office manager -- or maybe even an individual investor -- might need to understand how to read balance sheet.
Tracy's book is far from wordy, and, clocking in at around 100 pages, it is pithy. More importantly, the book is extremely well-illustrated in such a way that the reader is not treated to financial concepts, but is actually taught the "skill" of reading an income statement, a balance sheet or a cash flow report, something which "Fishing for Dummies" has yet to do for me.
With Tracy's book, I will never have to read a 400-page tome on accounting or finance. If I am in trouble, I'll simply need to read this book, never confusing "net" and "gross" again.
Most Recent Customer Reviews
This is an in depth view of the vital topic of understanding financials. The author is thorough and diligent in getting he reader as much valuable information as possible. Read morePublished 1 month ago by Matt
Used the book for years in providing finance training.Published 2 months ago by ferguise l. mayronne
great insights into a desperately needed skill for your business.Published 6 months ago by thomas thompson
it is very well written just like other reviewer stated. very easy to read and understand and after you finish with this book, you will get basic knowldege of financial report. Read morePublished 10 months ago by Tae Chung
This book is an excellent exordium for one that doesn't have an accounting/finance background and serves as an effective review for one who has taken college accounting. Read morePublished 14 months ago by J.Ilog