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THE NEWEST EDITION OF THE MOST ACCESSIBLE GUIDE TO READING AND UNDERSTANDING FINANCIAL REPORTS
In the newly revised and updated 10th Edition of How to Read a Financial Report, and in keeping with the legacy established by his father, the late professor emeritus John "TOP" Tracy, veteran financial consultant Tage C. Tracy teaches readers how to comprehend, analyze, and interpret financial reports, using easy-to-understand and jargon-free language to make the information accessible to all. Hands-on tools, highly relevant exhibits, and end-of-chapter real-world guidance are included to assist readers in understanding and integrating concepts. This book offers a wide range of invaluable new material but never loses its primary objective of educating readers on the critical concepts of understanding cash flows and the connectivity of the big three financial statements, the balance sheet, the income statement, and the statement of cash flows.
Along with presenting foundational aspects of financial reports and how they differ from financial statements, this book explores the various meaningful connections between different financial metrics, reports, and statements, such as how loans, interest expense, and accrued liabilities are connected to the income statement, balance sheet, and statement of cash flows. The book concludes with key insight on how financial information can be used to tell a story, focusing on different KPIs that can be presented or omitted, as well as ways in which financial data can be manipulated, and used to detect fraud.
Completely thorough in its coverage and accessible regardless of finance or accounting background, How to Read a Financial Report is an essential reference for a wide range of parties seeking to better understand basic financial information or learn how financial information can be packaged by Wall Street to persuade external parties.