International Financial Statement Analysis - Hardcover

Robinson, Thomas R.; Henry, Elaine; Pirie, Wendy L.; Broihahn, Michael A.

Hardcover

ISBN 10: 0470916621 ISBN 13: 9780470916629

Publisher: Wiley, 2012

Synopsis

Up-to-date information on using financial statement analysis to successfully assess company performance, from the seasoned experts at the CFA Institute

Designed to help investment professionals and students effectively evaluate financial statements in today's international and volatile markets, amid an uncertain global economic climate, International Financial Statement Analysis, Second Edition compiles unparalleled wisdom from the CFA in one comprehensive volume.

Written by a distinguished team of authors and experienced contributors, the book provides complete coverage of the key financial field of statement analysis. Fully updated with new standards and methods for a post crisis world, this Second Edition covers the mechanics of the accounting process; the foundation for financial reporting; the differences and similarities in income statements, balance sheets, and cash flow statements around the world; examines the implications for securities valuation of any financial statement element or transaction, and shows how different financial statement analysis techniques can provide valuable clues into a company's operations and risk characteristics.

• Financial statement analysis allows for realistic valuations of investment, lending, or merger and acquisition opportunities
• Essential reading for financial analysts, investment analysts, portfolio managers, asset allocators, graduate students, and others interested in this important field of finance
• Includes key coverage of income tax accounting and reporting, the difficulty of measuring the value of employee compensation, and the impact of foreign exchange rates on the financial statements of multinational corporations

Financial statement analysis gives investment professionals important insights into the true financial condition of a company, and International Financial Statement Analysis, Second Edition puts the full knowledge of the CFA at your fingertips.

About this title

About the Author

Thomas R. Robinson, CFA, is Managing Director of the Education Division of CFA Institute where he leads and develops the teams responsible for producing and delivering educational content and examinations to candidates, members, and other investment professionals encompassing the CFA Program, CIPM Program, Lifelong Learning, Private Wealth, Publications, and Conferences.

Elaine Henry, CFA, is an Assistant Professor of Accounting at the University of Miami where she teaches courses in accounting, financial statement analysis, and valuation. After working in corporate finance at Lehman Brothers, strategy consulting at McKinsey & Company, and corporate banking at Citibank, she obtained a PhD from Rutgers University where she majored in accounting and minored in finance.

Wendy L. Pirie, CFA, is Director, Curriculum Projects, in the Education Division of CFA Institute. Prior to joining CFA Institute in 2008, she taught finance, accounting, statistics, taxation, business law, and marketing for over twenty years at both large and small public and private universities, religious colleges, and military academies. Her work has been published in the Journal of Financial Research and the Journal of Economics and Finance. She holds a PhD from Queen's University in Kingston, Ontario, and MBAs from the University of Toronto and the University of Calgary. Pirie is also coauthor of Investments: Principles of Portfolio and Equity Analysis (Wiley).

Michael A. Broihahn, CFA, is an Associate Professor of Accounting and the Director of Graduate Programs at Barry University in Miami, Florida. His teaching and research interests encompass financial accounting, auditing, and professional ethics. He currently serves CFA Institute in a number of different capacities.

From the Back Cover

Praise For International Financial Statement Analysis

"Finally, I have a textbook for my Analysis of Foreign Financial Statements course. I have been searching for years for a suitable text covering financial statement analysis from an IFRS perspective. I find this book to be an excellent resource."
—Sylwia Gornik-Tomaszewski, DBA, CMA, CFM, Associate Professor, Department of Accounting and Taxation, Tobin College of Business, St. John's University

"International Financial Statement Analysis is arriving on the scene at the right time with a new and useful orientation and comprehensive coverage. It should be an important and valuable resource."
—Gary John Previts, E. Mandell de Windt Professor, Case Western Reserve University

"This text is the basis for analyzing and interpreting financial statements of companies around the globe and appeals to both the student and seasoned investor. It is an essential read and reference book for the global investor in search of alpha."
—Chris Senyek, CFA, CPA, Senior Managing Director and Head of Accounting & Tax Policy Research Team, ISI Group, Inc.

"This text is a valuable addition to the financial statement analysis literature with its emphasis on financial reporting from an IFRS perspective, while highlighting major differences between IFRS and U.S. GAAP throughout. With the rapid global adoption of IFRS, it provides a financial statement analysis foundation for analysts globally who will be comparing IFRS and U.S. GAAP financial statements in the coming years as convergence continues. The authors' integration of the IFRS framework throughout the text is particularly noteworthy, since it is the first source of guidance that professionals utilize when applying IFRS in practice."
—David R. Campbell Sr., Professor of Accounting, Drexel University

Don't forget to pick up the International Financial Statement Analysis Workbook, Second Edition, a companion study guide that mirrors this text chapter by chapter.

From the Inside Flap

Part of the CFA Institute Investment Series, International Financial Statement Analysis, Second Edition is designed to help both established and aspiring financial professionals effectively evaluate financial statements in today's global markets. Financial statement analysis is an important tool for gaining insights into the true financial condition of a company, allowing you to make accurate valuations for investment, lending, or merger and acquisition purposes.

Written by the distinguished team of Thomas Robinson, Elaine Henry, Wendy Pirie, and Michael Broihahn, along with a number of experienced contributors, the book is a comprehensive compilation of expert wisdom that gives you everything you need to make intelligent financial decisions in an uncertain global economic climate.

Designed to help you understand the practical challenges of working with financial statements, the book covers the mechanics of the accounting process, which is the foundation for financial reporting, and the differences and similarities in income statements, balance sheets, and cash flow statements around the world. Other topics addressed include how to assess the implications of any financial statement element or transaction, how different financial statement analysis techniques can provide valuable clues into a company's operations and risk characteristics, and more. Fully revised and updated, this Second Edition features new standards and methods for statement analysis in a post-crisis world.

To enhance your understanding of the tools and techniques presented here, pick up the International Financial Statement Analysis Workbook, Second Editon. This companion guide contains carefully constructed problems with detailed solutions as well as concise learning outcome statements and summary chapter overviews.

International Financial Statement Analysis, Second Edition is a straightforward and highly accessible resource for anyone looking to accurately assess the true financial condition of a company, offering a detailed look at how this topic can be understood in a global context and applied around the world.

Edition details

• Publisher: Wiley
• Publication date: 2012
• Language: English
• ISBN 10: 0470916621
• ISBN 13: 9780470916629
• Binding: Hardcover
• Edition number: 2
• Number of pages: 1040