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How to Read a Financial Report: Wringing Vital Signs Out of the Numbers »

Book cover image of How to Read a Financial Report: Wringing Vital Signs Out of the Numbers by John A. Tracy CPA

Authors: John A. Tracy CPA
ISBN-13: 9780470405307, ISBN-10: 0470405309
Format: Paperback
Publisher: Wiley, John & Sons, Incorporated
Date Published: May 2009
Edition: (Non-applicable)

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Author Biography: John A. Tracy CPA

John A. Tracey (Boulder, CO) is a professor of accounting at the University of Colorado at Boulder. He is also the author of The Fast Forward MBA In Finance.

Book Synopsis

Lurking somewhere amidst all the figures in a financial report is vitally important information about where a company has been and where it is headed. But without a guide to isolate and interpret those numbers, the dizzying array of columns and rows doesn't add up to a hill of beans. That's why thousands of professionals and savvy individuals have referred to this bestselling resource that shows anyone how to make sense of all those numbers. Updated throughout, this edition features new information on tax reform, depreciation methods, spotting fraudulent reporting, and recent FASB rulings. Also, all exhibits have been made easier to follow.

Table of Contents

1Starting with Cash Flows1
2Introducing the Balance Sheet and Income Statement7
3Profit Isn't Everything17
4Sales Revenue and Accounts Receivable27
5Cost of Goods Sold Expense and Inventory33
6Inventory and Accounts Payable39
7Operating Expenses and Accounts Payable43
8Operating Expenses and Prepaid Expenses47
9Long-Term Operating Assets: Depreciation and Amortization Expense51
10Accruing Unpaid Operating Expenses and Interest Expense61
11Income Tax Expense and Income Tax Payable67
12Net Income and Retained Earnings; Earnings per Share (EPS)71
13Cash Flow from Profit and Loss77
14Cash Flows from Investing and Financing Activities85
15Growth, Decline, and Cash Flow89
16Footnotes - The Fine Print in Financial Reports101
17CPAs, Audits, and Audit Failures109
18Choosing Accounting Methods and Quality of Earnings125
19Making and Changing Accounting Standards133
20Cost of Goods Sold Conundrum147
21Depreciation Dilemmas159
22Ratios for Creditors and Investors167
23A Look Inside Management Accounting181
24A Few Parting Comments191
Index201

Subjects