Understanding Financial Statements [Paperback]

Lyn M. Fraser (Author), Aileen Ormiston (Author)

Book Description

ISBN-10: 0136191150 | ISBN-13: 978-0136191155 | Publication Date: November 20, 1997 | Edition: 5

This accessible book presents conceptual background and analysis tools for understanding and interpreting financial statements while emphasizing financial statement evaluation and using them for business decision-making.

This book helps readers think and reason through complex, real-world situations while emphasizing solutions for unstructured problems, using accounting information for decision-making. Devoting individual chapters to different financial statements, it communicates complex financial accounting and disclosure issues in precise language, avoiding unnecessary detail. Presents the financial statements (annual reports) of actual companies. Incorporates new requirements and changes in accounting and reporting standards. The fifth edition of Understanding Financial Statements has been updated to include new requirements and changes in accounting reporting and standards as well as proposed changes that may affect financial reporting in the future. Provides additional cases which allow readers to explore practical and realistic applications of concepts and analytical tools throughout the book.

Editorial Reviews

Review

"It is my view that there are two things that make the Fraser and Ormiston text superior to any of its competitors. The first is the clarity with which it is written. It is straightforward and to the point. It is an excellent text or supplemental text for a course in financial statements analysis for non-accounting majors. In addition, the mini-cases are very useful as is the checklist of items the reader of financial statements should address when trying to make sense of such statements." John Erickson, California State University-Fullerton

"The text is accurate and very efficient in presenting some complex topics in a fundamental way that financial statement users can appreciate. Topics such as depreciation alternatives, inflation accounting, earnings per share, and the equity method are all handled in an appropriate fashion." — Charles Fazzi, Robert Morris College

"I use the text in a managerial finance course because it provides an excellent review of accounting and a concise treatment of financial statement analysis." — Eric Blazer, Millersville University

--This text refers to an out of print or unavailable edition of this title.

From the Publisher

Easily accessible -- regardless of the student's background -- this classic text presents the conceptual background and analytical tools necessary to understand and interpret financial statements. The emphasis throughout is on the evaluation of financial statements and their usefulness for business decision-making -- rather than on how the financial statements are constructed. --This text refers to an out of print or unavailable edition of this title.

See all Editorial Reviews

Product Details

• Paperback: 266 pages
• Publisher: Prentice Hall; 5 edition (November 20, 1997)
• Language: English
• ISBN-10: 0136191150
• ISBN-13: 978-0136191155
• Product Dimensions: 9.3 x 7.1 x 0.6 inches
• Shipping Weight: 15.2 ounces
• Average Customer Review: 3.6 out of 5 stars  See all reviews (17 customer reviews)
• Amazon Best Sellers Rank: #797,946 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

44 of 46 people found the following review helpful:

5.0 out of 5 stars Understanding Financial Statements, January 25, 2001

By A Customer

This review is from: Understanding Financial Statements (Paperback)

This is a wonderful book for those who are new to the world of corporate finance and do not have a working knowledge of the language of finance. The definitions are clear and the examples are easy to understand. The book is thorough in its coverage of balance sheet, income statements, statements of retained earnings, and cash flow, and explains how to uncover hidden problems in review of a firm's financial statements. This is a great book for students and those who want to have the mysteries of the financial report revealed.

7 of 7 people found the following review helpful:

5.0 out of 5 stars You'll keep this close to your side for years to come..., February 8, 2006

By 

FredCritic (Indianapolis, Indiana) - See all my reviews

This review is from: Understanding Financial Statements (7th Edition) (Paperback)

I purchased the fifth edition of this book back in 1997 and still have it. I work through it, from start to finish, every three months in order to keep myself fresh and thoroughly knowledgeable about income statements, balance sheets, and cash flows. The exercises are challenging enough to require you to do a little extra research and thinking on your own, i.e., not everything in the questions can be answered by consulting the book. IMPORTANT NOTE TO PROSPECTIVE PURCHASERS OF THIS BOOK: You will have difficulty thoroughly understanding this material unless you have at least a year of financial accounting coursework under your belt. Although I already had 8 accounting courses under my belt by the time I purchased this book, it helped me understand financials like I had never understood them before. A very useful text for those interested in the analysis of, particularly, the income statement and the balance sheet.

3 of 3 people found the following review helpful:

1.0 out of 5 stars Explanations? There are none., January 31, 2011

By 

SaraMaye - See all my reviews

This review is from: Understanding Financial Statements (9th Edition) (Paperback)

This book may be readable, but as for any type of understanding with the case questions at the end of the chapters, forget it. I purchased this book because I had to, and I have yet to understand what they expect right away. I've had to e-mail my professor almost every time because the book doesn't explain what it's really looking for. There's no way I would even touch this book to learn about accounting if I didn't have to. My professor even admits it's not a very good text.