Financial Statement Analysis: A Practitioner's Guide (Wiley Finance)

One of my favourite books on this topic. You can't have enough books on this topic if this is your thing. Penman is great, but big. Graham and Dodd are great, but old. English is great too, but short. I'd recommend reading all of them but cannot understand the bad reviews for this book.

Worth the price

Very enlightening and provides a wealth of information. However I found the information on normalising earnings in Chapter 14 rather disconcerting as it failed to provide information on the mathematical terms used, which to a non-mathematician, is unhelpful.

A practitioner's guide? I've read books that are basic on this matter and are even better than this one. Well, these are one of the cons we face when buying online.

Not as good as expected.

Price too high for content it carries

I am reading it a chapter at a time, because certainly it is not an overly exciting read; but there is a lot of fiction in Financial statements, and this book urges you to be aware of them. It is thankfully not set up as dry text book you would find in a college or university. In fact.. some of the chapters are a bit of a mystery, a who and how they done it. Fidgeting their income, or expenses, and showing how the outside auditors should be detectives, but that no longer seems to be the case as they want to keep their own expenses down, and now instead of being an antagonist, tout themselves more as team players on the team of their 'client', which is like a referee offering to be helpful to a team. The author wisely points out that although we want Financial statements to accurately reflect the financial health of a company, the numbers can be fudged to help gain a bonus for the CEO or make sure that Wall st. looks positively on their numbers. This book gives you an inside view of the cat and mouse game that you must play to interpret the numbers, and I think this is a must read for any financial analyst.

The book covers a wide range of tools that are used in the financial statements analysis. There are a lot of real-life use cases that stress the limits of these tools and how they could have been used to avoid a risky investment. I'd say, it can be used as an introduction to the world of analysis; however, this is not an easy read. I've re-read it twice and started it anew even more times. The fact that I have started to invest and actually apply some of the advices from the book has has helped me to finish it. Most of the topics should be further researched through Google or sites like Investopedia and some of them require a week+ to settle in. If you're in love with the idea of investment and have little to none experience in the field, this read is totally worth your dollars.

El libro se centra en ejemplos de compañías que intentan dar una imagen falsa a través de su contabilidad, incluso casos de fraude. Los ejemplos están actualizados y están bien explicados. En cuanto al análisis y valoración de empresas, acciones y bonos, es más básico de lo que esperaba, pero también es claro.

Great book if you enjoy reading about failures and accounting quirks.