How to Read a Financial Report: Wringing Vital Signs Out of the Numbers, Seventh Edition | by John A. Tracy | 2009 | ISBN: 9780470405307. Certified Public Accountants Guide. Fraudulent Financial Reporting. Key Accounting Issues. Financial Statement Analysis
How to Read a Financial Report: Wringing Vital Signs Out of the Numbers, Seventh Edition
by John A. Tracy
2009 (201 pages)
ISBN:9780470405307
Featuring information on tax reform, depreciation methods, spotting fraudulent reporting, and recent FASB rulings, this trusted resource shows how to make sense of the dizzying array of columns and rows in a financial report.
Get this PDF EBook by clicking below: |
How to Read a Financial Report—Wringing Vital Signs Out of the Numbers, Seventh Edition
Preface to the Seventh Edition
Part One – Components and Connections in Financial Statements
Chapter 1 – Starting with Cash Flows
Importance of Cash Flows: Cash Flows Summary for a Business
What Does Cash Flows Summary NOT Tell You?
Profit Cannot Be Measured by Cash Flows
Cash Flows Do Not Reveal Financial Condition
Chapter 2 – The Three Financial Statements
Reporting Financial Condition, Profit Performance, and Cash Flows
Income Statement
Balance Sheet
Statement of Cash Flows
Notes
Chapter 3 – Profit Isn’t Everything
The Threefold Task of Business Managers: Profit, Financial Condition, and Cash Flows
One Problem in Reporting Financial Statements
The Interlocking Nature of the Three Financial Statements
Connecting the Dots
Chapter 4 – Sales Revenue and Accounts Receivable
Exploring One Link at a Time
How Sales Revenue Drives Accounts Receivable
Accounting Issues
Chapter 5 – Cost of Goods Sold Expense and Inventory
Holding Products in Inventory Before They Are Sold
Accounting Issues
Chapter 6 – Inventory and Accounts Payable
Acquiring Inventory on the Cuff
Accounting Issues
Chapter 7 – Operating Expenses and Accounts Payable
Recording Expenses Before They Are Paid
Accounting Issues
Chapter 8 – Operating Expenses and Prepaid Expenses
Paying Certain Operating Costs Before They Are Recorded as Expenses
Accounting Issues
Chapter 9 – A Unique Expense: Depreciation
Brief Review of Expense Accounting
Depreciation Expense
Accumulated Depreciation and Book Value of Fixed Assets
Book Values and Current Replacement Values
Intangible Assets
Accounting Issues
Chapter 10 – Accruing the Liability for Unpaid Expenses
Recording the Accrued Liability for Operating Expenses
Bringing Interest Expense Up to Snuff
Accounting Issues
Chapter 11 – Income Tax Expense and its Liability
Federal and State Income Taxation of Business Profit
Accounting Issues
Chapter 12 – Net Income and Retained Earnings; Earnings Per Share (EPS)
Net Income into Retained Earnings
Earnings per Share (EPS)
Accounting Issues
Chapter 13 – Cash Flow from Operating (Profit-Making) Activities
Profit and Cash Flow from Profit: Not Identical Twins!
An Alternative View of Cash Flow
Accounting Issues
Chapter 14 – Cash Flows from Investing and Financing Activities
Rounding Out the Statement of Cash Flows
Seeing the Big Picture of Cash Sources and Uses
Accounting Issues
Chapter 15 – Footnotes To Financial Statements
Financial Statements—Brief Review
Why Footnotes?
Two Types of Footnotes
Management Discretion in Writing Footnotes
Accounting Issues
Part Two – Financial Statement Analysis
Chapter 16 – Impact of Growth and Decline on Cash Flow
Setting the Stage for Cash Flow Analysis
Cash Flows in the Steady-State Case
Cash Flow Growth Penalty
Cash Flow Reward from Decline
Red Ink and Cash Flow
Final Comment
Chapter 17 – Financial Statement Ratios
Purpose of Financial Statements
Overview of Financial Statements
Debt-Paying Ability, Liquidity, and Solvency Ratios
Return on Sales and Return on Equity Ratios
Earnings per Share (EPS) and Price/Earnings (P/E) Ratios
Final Comments
Chapter 18 – Profit Analysis for Business Managers
First, a Word about Managerial Accounting
Comparing Equal Percent Changes in Sales Prices and Sales Volume
Part Three – Reliability of Financial Reports
Chapter 19 – Accounting and Financial Reporting Standards
Importance of Financial Reports
Moving Toward International Financial Reporting and Accounting Standards
A Fly in the Ointment
Do Private Companies Need Separate Standards?
Stock Options
Unfinished Business
Chapter 20 – Accounting Methods and Massaging the Numbers
Chapter Preamble
Choosing Accounting Methods
Massaging the Numbers
Business Managers and Their Accounting Methods
Consistency of Accounting Methods
Quality of Earnings
Restatements of Financial Reports
Chapter 21 – Audits of Financial Reports in the Post-Enron Era
Opening Comments
Why Audits?
Certified Public Accountants
Are Audits Required?
Clean Audit Opinion
Do Auditors Discover Accounting Fraud?
Reading the Auditor’s Report
Post-SOX
Chapter 22 – Parting Comments
Overview
Basic Questions and Answers
A Very Short Summary
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