Description
Hidden somewhere among all the numbers in a financial report is vitally important information about where a company has been and where it is going. This is especially relevant in light of the current corporate scandals. The sixth edition of this bestselling book is designed to help anyone who works with financial reports--but has neither the time nor the need for an in-depth knowledge of accounting--cut through the maze of accounting information to find out what those numbers really mean.
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Despite having confidence in financial statements somewhat shaken by recent accounting frauds, Tracey (emeritus, accounting, U. of Colorado-Boulder) still regards reading such statements as the best way to learn about the financial structure of a business one is considering investing in. Emphasizing cash flow in this update of the 1999 edition, he reviews the component statements of an annual report: income, balance sheet, and cash flow. When the first edition appeared in 1980, the Dow Jones averaged 850. Annotation ©2004 Book News, Inc., Portland, OR (booknews.com)
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