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Title: How to Read A Financial Report by John A. Tracy ISBN: 0-471-32706-9 Publisher: John Wiley & Sons Pub. Date: 22 February, 1999 Format: Paperback Volumes: 1 List Price(USD): $19.95 |
Average Customer Rating: 4.18 (11 reviews)
Rating: 4
Summary: GREAT BOOK BUT SOME PRIOR KNOWLEDGE WILL BE A PLUS!
Comment: As a teacher of business management, I have found the one component of training that often frustrates most students is understanding and preparing a cash flow statement, profit and loss statement and a balance sheet. This book is written in a manner which certainly simplifies the understanding of the statements, but it would definitely be a plus if the reader had some prior knowledge of basic accounting principles.
Financial statements are, for some, a challenge and one they can easily master with an understanding of basic accounting. For others with no prior knowledge of accounting, financial statements can be a nightmare. While this book will HELP TO SIMPLIFY the matter, without some previous experience the book may be quite confusing. First of all, one should at least be familiar with general accounting terminology. If you are, it will simplify this book enormously and make the learning experience more enjoyable. However, be prepared to sit down and devote your utmost concentration to the book. The subject matter is not one that can be mastered by skimming through the book in an evening or two. For many individuals, understanding financial statements is a course that takes months to completely understand. Some learn the process easily, others never master the challenge no matter how long or hard they try. The degree of success usually depends, in part, on apptitude, commitment and previous knowledge and experience of the reader.
Rating: 5
Summary: One of the most useful presentations of this topic ever.
Comment: I have used this book to teach people with absolutely no training in accounting to understand financial statements. It appeals to non-quantitative and quantitative audiences alike. Non-quantitative audiences appreciate the plain language in which the book is written. Quantitative audiences immediately see how financial statements are laid out from a modelling point of view and invariably start coding up spreadsheets. People who need to explain anything related to financial statements should thoroughly read this book to see how clearly this topic can be treated.
Another aspect of this book is the ratio of success-to-effort one gets out of reading this book. Professsor Tracy's experience and time spent thinking about this topic is clearly demonstrated by his ability to explain just enough to allow even the rank beginner to understand financial statements.
Rating: 1
Summary: disappointed
Comment: John Tracy does explain the 3 important "sheets" of a complete financial report. But he failed to help me understand what can be ascertained from more abstract concepts like cash flow or depreciation. His (lack of decent) explanation of why depreciation expense shows up in cost flow calculation appears to account twice for the same $ (once in profit and once in cash flow). His explanation of trying to use EPS & P/E ratio to determine the value of a privately held company share went no futher than this: "you could try to sell my your privately held share at any price you want, but I wouldn't have to accept it". That's not an explanation, just a statement of the obvious. The book needs more prose and examples of how the concept of a healthy (or unhealthy) company can be determined from a financial report. In fairness to Tracy, perhaps the latter half of the book addresses my needs, but I quit at page 76 (1/2 way through the book) after an inadequate explanation of depriciation expense as positive cash flow. I'll give another, more rigourous text a chance at that.
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Title: Financial Statements: A Step-By-Step Guide to Understanding and Creating Financial Reports by Thomas R. Ittelson, Thomas R. Ittleson ISBN: 1564143414 Publisher: Career Press Pub. Date: February, 1998 List Price(USD): $15.99 |
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Title: Keys to Reading an Annual Report (Barron's Business Keys) by Ralph E. Welton, George Thomas Friedlob ISBN: 0764113062 Publisher: Barrons Educational Series Pub. Date: 01 January, 2001 List Price(USD): $7.95 |
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Title: The Guide to Understanding Financial Statements by Geza Szurovy, S. B. Costales ISBN: 007013197X Publisher: McGraw-Hill Trade Pub. Date: 01 October, 1993 List Price(USD): $14.95 |
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Title: Understanding Cash Flow by Franklin J. Plewa, George T. Friedlob ISBN: 0471103861 Publisher: John Wiley & Sons Pub. Date: April, 1995 List Price(USD): $22.95 |
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Title: How to Use Financial Statements: A Guide to Understanding the Numbers by James Bandler ISBN: 078630197X Publisher: McGraw-Hill Trade Pub. Date: 01 June, 1994 List Price(USD): $19.95 |
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