Understanding Financial Statements

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Prentice Hall, 2001 - Business & Economics - 267 pages
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A supplementary text for a variety of Business courses, including Principles of Financial Accounting, Intermediate Accounting, Investments, Personal Finance, and Financial Planning and Analysis. 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. Straightforward, understandable, and accessible - regardless of students background - it orients them toward what they will actually encounter in practice. By emphasizing how to solve unstructured problems and how to use accounting information for decision-making, it helps students learn how to think and reason through complex, real-world situations. *NEW - New accounting and reporting standards - Incorporated throughout, especially in regard to comprehensive income and segments. *NEW - Writing skills problems added to each chapter. *NEW - Internet problems added to each chapter. *NEW - Real corporation (PETsMART) problems added to each chapter. *Mini-cases using the financial sta

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An Overview
The Balance Sheet
Income Statement and Statement
Statement of Cash Flows
The Analysis of Financial Statements
Analyzing the Data

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About the author (2001)

Lyn M. Fraser" has taught undergraduate and graduate classes in financial statement analysis at Texas A&M University and has conducted numerous seminars on the subject for executive development and continuing education courses. A Certified Public Accountant, she is the coauthor with Aileen Ormiston of "Understanding the Corporate Annual Report: Nuts, Bolts, and a Few Loose Screws" (Prentice Hall, 2003) and has published articles in the "Journal of Accountancy," the "Journal of Commercial Bank Lending," the "Magazine of Bank Administration," and the "Journal of Business Strategies." She has been recognized for Distinguished Achievement in Teaching by the Former Students Association at Texas A&M University and is a member of Phi Beta Kappa.

"Aileen Ormiston" teaches accounting in the Business Department of Mesa Community College in Mesa, Arizona. She received her bachelor's degree in accounting from Michigan State University and a master's degree in finance from Texas A&M University. Aileen, prior to embarking on her teaching career, worked in cost accounting and also as an auditor in public accounting. She is a member of the American Institute of Certified Public Accountants and the American Accounting Association. Mesa Community College was one of 13 universities and colleges that received a grant from the Accounting Education Change Commission, and Aileen was actively involved in developing the new accounting curriculum. As a result of her pioneering work in changing accounting education, she was the recipient of the "Innovator of the Year" award from the League for Innovation in the Community College.

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