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Financial Analyst’s Indispensable Pocketguide is the first reference to give the more than 20,000 candidates who take AIMR-administered CFA exams annually—and the 60,000-plus CFAs and finance professionals who currently practice investment management—a single broad-based resource for specific terminology and information. Much more than just a dictionary, this dynamic book explains and expands upon the fundamental concepts that comprise a financial analyst’s lexicon.Within each section, Ramesh arranges fundamental terms alphabetically, then provides CFA-related tips and profiles of industry leaders. Key topics include:
Turn financial statements into powerful allies in your decision making
Whether youre an investor, creditor, consultant, regulator, manager-or an employee concerned about your companys well-being and the stability of your job-the ability to successfully interpret and analyze financial statements gives you a leg up in todays rough-and-tumble marketplace. Analysis of Financial Statements, Fifth Edition, by Leopold A. Bernstein and John J. Wild, gives you every practical, up-to-date method for making the data in financial statements clear and meaningful. You get analytical tools that range from computation of ratio and cash flow measures to earnings prediction and valuation as you learn how to reconstruct the economic reality embedded in financial statements. User-friendly and engaging, this hands-on classic is loaded with graphs, charts, and tables, so you can see how topics relate to the business practices of actual companies. A concluding comprehensive case analysis of the Campbell Soup Company gives shape and color to the authors step-by-step lessons.
Covers all exam changes Text matches Wiley CMAexcel Review Course content structure LOS index in Review Course for easier cross-references to full explanations in text Includes access to the Online Test Bank, which contains 1,000 multiple-choice questions and 5 sample essays Multiple-choice question feedback helps CMA candidates focus on areas where they need the most work Prepare for the actual CMA exam with Section Practice Tests and a cumulative Part 1 exam Assess your progress with knowledge check questions/answers and sample essay questions Helps candidates prepare a solid study plan with exam tips Feature section examines the topics of External Financial Reporting Decisions; Planning, Budgeting, and Forecasting; Performance Management; Cost Management; and Internal Controls Based on the CMA body of knowledge developed by the Institute of Certified Management Accountants (ICMA(R)), Wiley CMAexcel Learning System Exam Review 2019 features content derived from the exam Learning Outcome Statements (LOS).
This book looks at the 23 million registered Small and Medium Enterprises (SMEs) that make up 98 per cent of the EU economy. Addressing the high end of SMEs in terms of new models for SME funding and financial reporting, this merged way of looking at SMEs reveals a `myopic' thinking in terms of net present value and (future) cash flows generating short-termism and low risk appetite for business. This is not an accounting issue, but rather a preference toward certain financial tools. A segment of SMEs, the ones that seek new ways of funding possibilities, as well as modern technologies (MTFs listing, blockchain, ICOs, etc.) do require, even without knowing, IFRS for SMEs. This book reveals how market conditions impact the financial performance and sustainability of SMEs and also generate innovative policy interventions and financing strategies for SME integrity and efficiency. The authors frame their arguments in the context of the Capital Markets Union, looking at the Innovation Triangle, SME growth ecosystem and business models. They conclude by advocating for closing the circle of financing and financial reporting for SMEs, while considering if new financial models of financing and financial reporting are good for all the SMEs or only for some. The economy is being shaped by new models of financing and financial reporting. Read this practitioners' view to understand the current changes and challenges.
Put the most valuable business tool to work for you
The balance sheet is the key to everything--from efficient business operation to accurate assessment of a company's worth. It's a critical business resource--but do you know how to read it? "How to Read a Balance Sheet" breaks down the subject into easy-to-understand components.
If you're a business owner or manager, this book helps you . . . Manage working capital Generate higher returns on assets Maximize your inventory dollars Evaluate investment opportunities
If you're an investor, this book helps you . . . Determine the market value of a company's assets and operations Predict future earnings and trends Assess the impact of capital expenditures Identify potential "red flags" before the crowd
"How to Read a Balance Sheet" gives you the bottom line of what
you need to know about:
An indispensable guide to making the transition to dual IFRS/GAAP financial reporting
U.S. financial reporting will undergo an unprecedented level of change within the next several years. U.S. companies face a convergence between U.S. GAAP and IFRS, affecting several major accounting standards--most notably in the areas of leasing, revenue recognition, and financial instruments. It is imperative that U.S. companies understand these major changes and their business and operational implications. "The IFRS U.S. GAAP Dual Reporting Handbook to First-Time Adoption" offers a comprehensive treatment of both the principles and techniques of dual reporting under IFRS/U.S. GAAP, while exploring the practical implications for accounting professionals of reporting under both sets of standards.Takes an operating approach to the implementation and application of the dual standardsDraws upon the author's extensive firsthand experience to dispel uncertainty and offer decision makers expert technical assistanceDefines systemic changes businesses will need to make to accommodate IFRS standardsCompares the two bodies of standards item-by-item and identifies solutions under one set of standards to issues arising under the otherExplores the strategic impact of structuring a company for IFRS transition
In addition to covering the full range of critical issues surrounding adopting IFRS, this indispensable handbook is a rich resource of dual reporting tools, including financial statement formats, charts of accounts, accounting check-lists, reconciliation schedules, and operating manuals.
An updated guide to the essential discipline of financial statement analysis
In "Financial Statement Analysis, Fourth Edition," leading investment authority Martin Fridson returns with Fernando Alvarez to provide the analytical framework you need to scrutinize financial statements, whether you're evaluating a company's stock price or determining valuations for a merger or acquisition.
This fully revised and up-to-date "Fourth Edition" offers fresh information that will help you to evaluate financial statements in today's volatile markets and uncertain economy, and allow you to get past the sometimes biased portrait of a company's performance.Reflects changes in the financial reporting landscape, including issues related to the financial crisis of 2008-2009Provides guidelines on how to interpret balance sheets, income statements, and cash flow statementsOffers information for maximizing the accuracy of forecasts and a structured approach to credit and equity evaluation
Filled with real-life examples and expert advice, "Financial Statement Analysis, Fourth Edition" will help you gain a firm understanding of the techniques that will help you interpret financial statements, which are designed to conceal more than reveal.
Praise for "The Financial Numbers Game"
"So much for the notion 'those who can, do--those who can't,
teach.' Mulford and Comiskey function successfully both as college
professors and real-world financial mercenaries. These guys know
their balance sheets. The Financial Numbers Game should serve as a
survival manual for both serious individual investors and industry
pros who study and act upon the interpretation of financial
statements. This unique blend of battle-earned scholarship and
quality writing is a must-read/must-have reference for serious
financial statement analysis."
"Wall Street's unforgiving attention to quarterly earnings
presents ever-increasing pressure on CFOs to manage earnings and
expectations. The Financial Numbers Game provides a clear
explanation of the ways in which management can stretch, bend, and
break accounting rules to reach the desired bottom line. This arms
the serious investor or financial analyst with the healthy
skepticism required to drive beyond reported results to a clear
understanding of a firm's true performance."
"After reading The Financial Numbers Game, I feel as though I've
taken a master's course in financial statement analysis. Mulford
and Comiskey's latest book should be required reading for anyone
who is serious about fundamentally analyzing stocks."
"The Financial Numbers Game" identifies the steps businesses may take to misstate financial performanceand helps its readers to identify those situations where reported results may not be what they seem.
"How can you argue with the core principles of Lean, that you focus on what provides value to your customer and eliminate work that is not necessary (muda)? Internal auditors need to understand not only who their primary customers are, but what is valuable to them - which in most cases is assurance that the risks that matter to the achievement of objectives are properly managed. We need to communicate what they need to know and not what we want to say. This incessant focus on the customer and the efficient production of a valued product should extend to every internal audit team. How else can we ensure that we optimize the use of our limited resources to address the dynamic business and risk environment within which our organizations operate?" Norman Marks, GRC Thought Leader Using lean techniques to enhance value add and reduce waste in internal auditing Lean Auditing is a practical guide to maximising value and efficiency in internal audit through the application of lean techniques. It is an ideal book for anyone interested in understanding what progressive, value adding audit can be like. It is also ideal for anyone wondering whether audit activities can be streamlined or better co-ordinated with other activities. The book contains practical advise from the author's experience as CAE of AstraZeneca PLC; from his work as a consultant specializing in this field; as well as insights from leading CAEs in the UK, US and elsewhere. In addition, there are important insights from thought leaders such as Richard Chambers (IIA US) and Norman Marks (GRC thought leader) and Chris Baker (Technical Manager of the IIA UK). Increasing pressure on resources is driving a need for greater efficiency in all areas of business, and Internal Audit is no exception. Lean techniques can help streamline the workflow, but having only recently been applied to IA, lack the guidance available for other techniques. Lean Auditing fills this need by combining expert instruction and actionable advice that helps Internal Auditors: * Benchmark their efficiency against lean ways of working * Understand warning signs of waste and lower added value * Understanding practical ways of working that improve added value and reduce waste * Gain confidence about progressive ways of working in internal audit * Understand how improved ways of working in audit can positively impact the culture of the wider organization One of the keys to the lean audit is finding out exactly what the stakeholder wants, and eliminating everything else. Scaling back certain operations can delineate audit from advisory, and in the process, dramatically improve crucial outcomes. To this end, Lean Auditing is the key to IA efficiency.
Introduction to the Accounting Process brings clarity to to the process of setting up an accounting system, including a basic explanation of how to enter numbers into the system manually. The clear structure of the book provides students with good insight into the basics of accounting.
The book consists of four parts:
The simple structure and concise nature of the book, combined with a useful companion website, will help students to improve on any deficiencies in the subject.
Accounting and Distributive Justice challenges the basic assumptions on which the current practice of financial reporting is based. It argues that the objective of financial reporting should be to contribute to the achievement of distributive justice and not the optimal allocation of resources as in the traditional capitalist paradigm. It explains in non-technical terms the principle philosophical theories of justice and argues that a firm has a moral responsibility to seek distributive justice in its dealings with its shareholders, employees, suppliers, customers, and other people with whom it has dealings, who are considered to be the firm's stakeholders. The book introduces concepts of distributive justice to accountants and provokes them into reflecting on how the discipline of accounting can best serve the cause of justice. Accounting and Distributive Justice provides both a philosophical foundation and a practical game plan for the future of a more sustainable accounting practice.
This product provides practitioners with guidance on performing agreed-upon procedures engagements for issuers submitting exhibits to the SEC containing eXtensible Business Reporting Language (XBRL) files. It is based on the application guidance of the principles and criteria in the exhibit of the AICPA publication Principles and Criteria for XBRL-Formatted Information. This SOP may also be used for performing agreed-upon procedures engagements for other applications of XBRL. This SOP supersedes SOP 09-1, Performing Agreed-Upon Procedures Engagements That Address the Completeness, Accuracy, or Consistency of XBRL-Tagged Data.
Praise for Valuation for Financial Reporting, Third Edition
"Writing a book on financial reporting is a challenge in and of itself, let alone to focus on the shifting sands of valuation in financial reporting. Yet, Mard and company have done it again, and this time, it is even more user-friendly, easy to read, and topical. If you intend to wade into the swift currents of providing valuation services for financial reporting, you must have Valuation for Financial Reporting in your library or on your desk " --Neil J. Beaton, CPA/ABV, CFA, ASA, National Partner in Charge of Valuation Services, Grant Thornton, LLP
"I really like the flowcharts. The authors take the complex world of fair value measurement for business combinations and convert it to easily understandable and usable flowcharts, worksheets, and checklists." --Gordon Goodman, Trading Control Officer, Occidental Petroleum, and member of the FASB Valuation Resource Group
"The comments on efficient markets and faithful representation in the first chapter were very (very) helpful and well written. Masterful Great book and I look forward to adding it to the library " --Robin E. Taylor, CPA/ABV, CFE, CVA, CBA, Dixon Hughes PLLC, and Chairman, AICPA Business Valuation Committee
The accounting landscape shifted following the era of global financial crisis and accounting information continues to play a vital role. Philip O'Regan's authoritative textbook provides readers with the tools and techniques to fruitfully analyse accounting and financial data. Updated to reflect changes in corporate governance, regulatory frameworks and new forms of IFRS, the text continues to shed light on the growing emphasis placed on the role of accounting information in formulating financial strategy. Features which add value to this third edition of Financial Information Analysis include case studies in every chapter with numerous supporting articles from the major financial presses, questions for review, and a comprehensive companion website. This essential textbook is core reading for advanced undergraduate and postgraduate students of finance and accounting.
Are you looking for an engaging, decision-focussed approach to financial reporting that encourages students to develop their interpretative skills? Building on the success of the first edition, this textbook takes a 'how, why, what' approach to financial accounting, interwoven in each chapter. From chapter one, students understand how financial information is prepared and presented, why it is prepared and presented in this way, and what the resulting financial information means for users. Designed for students taking a step beyond their introductory financial accounting training, the textbook equips them with all the key tools they will require when they enter professional practice. Reflective of the latest International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS), this textbook delivers concise, clear explanations of all the key issues in accounting standards that students need to know. Content maps to professional accounting body syllabi, making this the perfect choice for accounting courses which offer exemptions. Chapters are rich with 3 types of examples to enhance understanding: - Illustrative examples of real-world situations; - Worked examples demonstrating the calculation of figures required for financial statements; - Extracts from company annual reports demonstrate how the theory relates to financial reporting in practice. More engaging, more balanced, and more applied than other offerings, this is exactly the textbook your financial reporting students need! An extensive Online Resource Centre accompanies the textbook and includes: For students: * Solutions to all the end-of-chapter questions in the book including walkthroughs of solutions to key questions; * Additional graded questions including professional body questions; * Additional interpretative case studies based on real-life companies; * A guided tour through a company report * Specific study skills tips for accounting students For lecturers: * Customisable PowerPoint slides * Solutions to all the additional online questions * Outline solutions to the interpretative case studies * Group discussion questions
The Art of Company Valuation and Financial Statement Analysis: A value investor's guide with real-life case studies covers all quantitative and qualitative approaches needed to evaluate the past and forecast the future performance of a company in a practical manner. Is a given stock over or undervalued? How can the future prospects of a company be evaluated? How can complex valuation methods be applied in practice? The Art of Company Valuation and Financial Statement Analysis answers each of these questions and conveys the principles of company valuation in an accessible and applicable way. Valuation theory is linked to the practice of investing through financial statement analysis and interpretation, analysis of business models, company valuation, stock analysis, portfolio management and value Investing. The book's unique approach is to illustrate each valuation method with a case study of actual company performance. More than 100 real case studies are included, supplementing the sound theoretical framework and offering potential investors a methodology that can easily be applied in practice. Written for asset managers, investment professionals and private investors who require a reliable, current and comprehensive guide to company valuation, the book aims to encourage readers to think like an entrepreneur, rather than a speculator, when it comes to investing in the stock markets. It is an approach that has led many to long term success and consistent returns that regularly outperform more opportunistic approaches to investment.
Mutual-fund superstar Peter Lynch and author John Rothchild explain the basic principles of investing and business in a primer that will enlighten and entertain anyone who is high-school age or older.
Many investors, including some with substantial portfolios, have only the sketchiest idea of how the stock market works. The reason, say Lynch and Rothchild, is that the basics of investing -- the fundamentals of our economic system and what they have to do with the stock market -- aren't taught in school. At a time when individuals have to make important decisions about saving for college and 401(k) retirement funds, this failure to provide a basic education in investing can have tragic consequences.
For those who know what to look for, investment opportunities are everywhere. The average high-school student is familiar with Nike, Reebok, McDonald's, the Gap, and the Body Shop. Nearly every teenager in America drinks Coke or Pepsi, but only a very few own shares in either company or even understand how to buy them. Every student studies American history, but few realize that our country was settled by European colonists financed by public companies in England and Holland -- and the basic principles behind public companies haven't changed in more than 300 years.
In Learn to Earn, Lynch and Rothchild explain in a style accessible to anyone who is high-school age or older how to read a stock table in the daily newspaper, how to understand a company annual report, and why everyone should pay attention to the stock market. They explain not only how to invest, but also how to think like an investor.
Financial Statement Analysis places the practice of accounting in its international context through the examination of the financial statements and corporate reports of major, multinational corporations. To facilitate a better understanding of the interactions between accounting and the business environment, this text looks at the wider operational context, examining accounting's relationship to the business environment both inside and outside the company. Financial Statement Analysis includes a wealth of real-world examples with actual statements from multinational companies to excerpts from financial journalism.
The rise of the British accountancy profession from the late nineteenth century to the present day, and the world-wide success of its accountancy firms, were to a large extent based on the growth of the audit function. This book explores the history of the audit process in Britain, demonstrating that the characteristic features of the auditing industry are a diversity in practice based largely on the different types of clients the auditors serve. The book examines the innovation that was brought about by the staggering developments in information technology which have been seen over the last few centuries. This comprehensive history will be a useful reference tool for accounting, business and economic historians and will also be an enlightening read for all those with an interest in auditing procedures.
Financial statements hold the key to a company's fiscal health--so learn to read them
In order to gauge a company's health--as well as the competition's--managers must know how to properly read and understand financial statements. "The Business Owner's Guide to Reading and Understanding Financial Statements" will introduce managers and business owners to various types of financial statements and explain why they are important. Serving as a desktop reference, especially for managers without a strong background in finance, this book will discuss the difference between internal and external financial statements and explain how they can be used for financial decision-making in order to avoid common missteps.
Whether you're planning for major capital projects or simply managing the fiscal aspects of your department, this nontechnical, results-driven guide will arm you with the fundamentals to: Understand the budget process and why it is importantManage assets and track inventoryGauge profitabilityMonitor success throughout the year using internal reportingSet prices and make key cost decisions
Financial statements are essential to determining a company's fiscal health. Understand where your company stands so that you can make informed decisions about its future.
A concise FAQ guide to IFRS principles and practices
Co-written by Steven Collings, winner of Accounting Technician of the Year at the British Accountancy Awards 2011, this book is a comprehensive guide to International Financial Reporting Standards (IFRS) which became mandatory in the EU in 2005, and they will almost certainly be adopted by most other developed countries in the near future. Unlike US-GAAP and other sets of standards, the IFRS are principles-based rather than rules-based, putting the onus of interpretation more on users than has previously been the case. Under IFRS users must understand the economic substance of operations, and they must be able to make assumptions, hypotheses, and estimations leading to an accounting treatment consistent with the general objectives of and principles behind IFRS financial reporting. In a handy, easy-to-navigate Q&A format, "Frequently Asked Questions on IFRS" provides accounting and finance professionals with the answers to some of the most commonly asked questions on the new standards. Covering the often complicated areas of accounting for financial instruments, tangible and intangible assets, provisions, and revenue recognition, the book also contains a valuable overview of the standards and the thinking behind them.Includes a comprehensive section on the new IFRS for small and medium enterprisesContains real-world examples from financial reports; a glossary of commonly used terms; and a 'Test Your Knowledge' sectionProvides a simple way to get up to speed on these often confusing, principles-based standards
The aim of the book is to give non-accounting students a basic ability and confidence to read and use financial accounting reports and statements within their business or financial specialties. Many employees in business today are expected to be conversant with reported accounting information as part of their regular job responsibilities. However, they often have little formal training in using such information. For example, in most Western countries, corporate directors and senior executives are legally responsible for the content and quality of publicly reported accounting statements, yet typically have no accounting background or experience to help in the discharge of these responsibilities.
The theme of the book is financial reporting as an essential and significant part of corporate governance. There is continuous pressure on companies from government and stakeholder groups to improve their governance and accountability structures and procedures. This book reveals how financial statements and related disclosures assist in good governance and accountability by providing relevant and reliable accounting signals of managerial performance.
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