Key Features

THE INTERPRETATION AND USE

OF FINANCIAL STATEMENTS:

An Executive-Level Perspective

• Written for the mid- to upper-level manager with little to no formal training in accounting.

• Adopts a user-orientation rather than a preparer-orientation.  As such, the text avoids all use of typical "accountingese" such as debit/credit, journal entries, t-accounts, etc.

• Focuses on the interpretation of financial statements for management and analyst decision-making purposes.

• Each topic addresses both U.S. Generally Accepted Accounting Principles (GAAP) and the emerging International Financial Reporting Standards (IFRS).

• Each topic is illustrated with "Reality Checks" using financial statement excerpts from dozens of actual public companies rather than over-simplified examples based on hypothetical companies such as "XYZ, Inc."  or "ABC Corporation".

• Key financial ratios and data relationships are illustrated with historical data for sample public companies in a wide variety of industries as well as market-wide indices such as the Dow Jones Industrial Average and S&P 500.