Financial Statement Analysis and Security Valuation - Softcover

Stephen Penman

Softcover

ISBN 10: 007123263X ISBN 13: 9780071232630

Publisher: Mcgraw Hill Higher Education, 2003

Synopsis

This text focuses on the output of financial statements, not the input. As such, this book asks what financial statements tell you, not how they are prepared. The idea is to get students to see accounting "working". The particular use of financial statements that this book focuses on is valuation. This text takes the approach that the best way to accurately value a firm is to look at the future earnings of the firm. The main pretext of this book is that financial statement analysis and valuation analysis are inextricably entwined. Valuation is an exercise in financial statement analysis. Financial statement analysis is directed by the need to get information for valuation. Accordingly, this book brings finance and accounting concepts together. This book stresses concepts, but the idea is to show how to move from concepts to practice.

About this title

About the Author

Stephen Penman is the L.H. Penney Professor of Accounting at the University of California at Berkeley. He received his Ph.D. from the University of Chicago in 1978. He has published extensively in the Journal of Accounting and Economics, the Journal of Accounting Research, and the Contemporary Accounting Research journal. he currently on the editorial board of the Review of Accounting Studies. He is known around the world for his reserch in Financial Accounting.

Edition details

• Publisher: Mcgraw Hill Higher Education
• Publication date: 2003
• Language: English
• ISBN 10: 007123263X
• ISBN 13: 9780071232630
• Binding: Paperback
• Edition number: 2
• Number of pages: 800