Financial Statement Analysis and Security Valuation - Hardcover

Penman, Stephen H.

Hardcover

ISBN 10: 0072903333 ISBN 13: 9780072903331

Publisher: McGraw-Hill College, 2001

Synopsis

This text focuses on the output of financial statements, not the input. As such, the 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 the book focuses on is valuation. The 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 the 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, the book brings finance and accounting concepts together. The book stresses concepts, but the idea is to show how to move from concepts to practice.

Edition details

• Publisher: McGraw-Hill College
• Publication date: 2001
• Language: English
• ISBN 10: 0072903333
• ISBN 13: 9780072903331
• Binding: Hardcover
• Number of pages: 770