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Reading Financial Reports For Dummies [Kindle Edition]

Lita Epstein
4.3 out of 5 stars  See all reviews (23 customer reviews)

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Book Description

The second edition includes over 25 percent new and updated information including:
  • New information on the separate accounting and financial reporting standards for private/small businesses versus public/large businesses
  • Updated information that reflects the 2007 law on international financial reporting standards
  • New content to match SEC and other governmental regulatory changes over the past three years
  • New information about how the analyst-corporate connection has actually changed the playing field
  • The impact of corporate communications and new technologies
  • New examples that reflect the current trends
  • Updated websites and resources

Editorial Reviews

From the Back Cover

The ins and outs of financial reports, explained in plain English

Want to make sense of financial reports? This easy-to-follow guide gives you a set of tools to understand these complicated statements, helping you read between the lines to determine a company's true financial health. You'll make informed decisions about investing, spot possible problems, and use these reports to manage your own department or company for success.

  • Get down to reporting basics — recognize different business types and how their structure affects the books, and grasp the accounting method underlying it all

  • Analyze the annual report — make sense of the balance sheet, income and cash flow statements, and the notes while spotting red flags

  • Know your numbers — keep an eye on whether a company is making a profit or suffering a loss

  • Understand how companies optimize operations — use reports to measure how efficiently management is using its resources

  • Meet the financial watchdogs — from auditors to analysts, see who certifies report accuracy and how recent scandals have changed the rules

  • Practice makes perfect — put your skills to the test by dissecting the annual reports of two similar companies throughout the book

  • Open the book and find:

  • The accounting basics necessary to understand financial reports

  • New information on reporting standards for private/small versus public/large businesses

  • Updates surrounding the 2007 law on international financial reporting standards

  • The impact of corporate communications and new technologies

  • New real-world examples that reflect current trends

  • Updated Web sites and resources

  • Tips for spotting the fluff in financial reports

About the Author

Lita Epstein, MBA, is a seasoned financial writer who focuses on helping people understand the complex worlds of money and finance. She was a financial manager for a medical clinic and content director for a financial services Web site, She also writes for AOL's Blogging Stocks and WalletPop.

Product Details

  • File Size: 1779 KB
  • Print Length: 388 pages
  • Page Numbers Source ISBN: 0470376287
  • Publisher: For Dummies; 2 edition (March 11, 2009)
  • Language: English
  • ASIN: B00245A4BE
  • Text-to-Speech: Enabled
  • X-Ray:
  • Lending: Not Enabled
  • Amazon Best Sellers Rank: #405,462 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
  •  Would you like to give feedback on images?

Customer Reviews

4.3 out of 5 stars
4.3 out of 5 stars
Most Helpful Customer Reviews
21 of 25 people found the following review helpful
3.0 out of 5 stars Something is missing October 6, 2009
By Joe
I read the previous edition of this book and I thought that I should buy it as a reference. There are several chapter about ratio and the author uses real life example from the financial statements of both Hasbro and Mattel. The things that shocked me is that the financial statements are not included as they were in the first edition. Instead the author invite you to get them from their website. Not really convenient.
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6 of 6 people found the following review helpful
4.0 out of 5 stars Very good book for beginners in investing November 13, 2011
By Chandra
I've stayed on the sidelines for long time, watching the stocks I thought I should buy go up and down. I did not want to jump in without understanding what I was getting into. I thought the 3 Financial documents from a company (Balance Sheet, Income Statement, and Cash Flow) were enough to understand a firm's performance. Boy - I couldn't have been more wrong. After reading this book, I realized how crucial it is to read through the 10-Ks and 10-Qs, and the notes to the Financial statements. That was a definite, very valuable learning for me. This book may not provide much for the experienced investor, but certainly helps you get started on the right foot if you are looking for ways to get started in stock market. Good Luck with your investing endeavors. Cheers!!
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3 of 3 people found the following review helpful
4.0 out of 5 stars easy reading - for financial reporting November 1, 2013
Format:Paperback|Verified Purchase
This turned out to be a nice, very well-written refresher for me. As dry as financial reporting might be, this writing makes it as 'readable' as possible - VERY good. Excellent examples are offered to support its cautions. The later chapters outlined legislation in recent decades ... since an old fella, like me, initially, studied this stuff.

As much as I HATE the 'for Dummies' labeling (book series) on principle, this book lives up to its billing and reviews. It IS VERY Good.
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3 of 3 people found the following review helpful
4.0 out of 5 stars breaking down a financial report March 26, 2012
By Kat
Format:Kindle Edition|Verified Purchase
I bought this ebook as a study aid for a Finance class. It helped break down some of the aspects of financial reports so they were easier to understand. I rated it 4 stars, because while I thought it was a very good book as a whole I thought it missed some areas of the statement that should have been included. Overall, worth the money and I would recommend.
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3 of 3 people found the following review helpful
5.0 out of 5 stars Dummy No More May 23, 2009
I had been exposed to financial reports before buying this book and had a cursory understanding of what they were about, but in reality the only line I really understood was whether money was made or lost during the course of the year. Now I understand how all those "other" line items play into telling a story about the success or failure of a business.

Easy read, but don't try to swallow it all at once.
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5 of 6 people found the following review helpful
4.0 out of 5 stars Definite eye opener for the novice March 16, 2012
I must say that I was very impressed with this book from the beginning. It took off with introductory information that was relevant to the whole scheme of things in this book.

I did find that chapters 10 to 17 are a bit technical but it didn't hurt to keep reading on to digest all the information on a general level. I plan on re-reading the whole book and paying special attention to chapters 10 to 17.

I have definitely learned a lot from this book. It has brought me out to so much insight and understanding that can be practically applied for trying to understand how to read financial reports.

I have to agree with others, that Lita using Mattel and Hasbro throughout the book to demonstrate different concepts and ideas was very welcome and innovative on her part; it was as if I was in a classroom learning from real life examples.
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2 of 2 people found the following review helpful
4.0 out of 5 stars Good book! September 20, 2013
Format:Kindle Edition|Verified Purchase
Good book easy to read and explains the concepts simply. Would recommend for others interested in learning about financial reports.
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2 of 2 people found the following review helpful
4.0 out of 5 stars Good for beginners May 27, 2013
This book is good for beginners. It gives you the formulas plus the reason for measuring them and what to look for. There are a few advanced concepts that no matter how hard you try, they are too complicated to use.
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Most Recent Customer Reviews
5.0 out of 5 stars So well written even a Dummy can understand
Great book, even my Girlfriend Julia who barely passed he Econ classes became proficient at reading all types reports and financial reports for her government job
Published 9 months ago by Tomas de Torquemada
5.0 out of 5 stars I Really Like this book
Lita made a very accessible book for the novice trying to learn a very complex subject. I actually read this book everyday and the concepts are becoming more and more... Read more
Published 11 months ago by GH
4.0 out of 5 stars Very good quick reference guide.
This is great for someone that graduated business school 4 years ago and forgot everything as soon as he or she finished the final.
Published 11 months ago by Jonathan Motyl
3.0 out of 5 stars not read it yet
have not read this one yet, how can I honestly give it some kind of rating, I don't hate. I can't love it either. What???
Published 16 months ago by M. Charles Schuessler
5.0 out of 5 stars Great infromation!
This book was very relevant and full of useful information. Recommend it to anyone in a financial related field or someone who wants to learn more about financial statements! Read more
Published 16 months ago by Tim Colquhoun
5.0 out of 5 stars Fills the Bill for what it is intended
If you know everything in this book well, you will be able to get a lot out of reading financial reports. Read more
Published 17 months ago by Wild West
5.0 out of 5 stars Simple introduction on how to read Corporate Financial Reports
I give it a 5 as it really does explain in details how to read the financial reports. And is particularly doing a good job at explaining it for "dummies", so, you would not... Read more
Published 18 months ago by Peter Mihai Antoniac
4.0 out of 5 stars Books
Most of the books I had ordered were for information purposes. I loved each one of them because to me they provided invaluable information!
Published 19 months ago by Rumana Haque
5.0 out of 5 stars Great book
Must have for financial people!
Simple and well written, for beginners but also for experts in financial reporting and analysis!
Published 20 months ago by Ranko Skansi
5.0 out of 5 stars Great book for beginners
This is a great book for anyone trying to make sense of all the Financial concepts present in a 10-k or 10-q report. Read more
Published on August 2, 2012 by Dayanand Menashi
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