International Financial Statement Analysis provides the most up-to-date detail for the successful assessment of company performance and financial positions. This rich, clear reference covers all aspects from financial reporting mechanics and standards to understanding income and balance sheets. Comprehensive guidance toward effective analysis techniques helps readers make real-world use of the knowledge presented, with this new third edition containing the most current standards and methods for the post-crisis world. Coverage includes the complete statement analysis process, plus information on income tax accounting, employee compensation, and the impact of foreign exchange rates on the statements of multinational corporations. * Understand the accounting mechanics behind financial reporting * Discover the differences between statements from around the world * Learn how each financial statement element affects securities valuation * Master analysis for clues into operations and risk characteristics International Financial Statement Analysis provides the latest rules and best practices, with clarity and expert advice.
International Financial Statement Analysis Workbook helps busy professionals understand and apply the concepts and methodologies essential to accurate financial analysis. A companion to the IFSA text, this workbook offers learning objectives, chapter summaries, and practice problems that reinforce the practitioner-oriented material to give readers the confidence they need before applying these concepts to real cases. Readers will test their understanding of the standards and mechanics of financial reporting, and make use of the tools and techniques described in the text. This informative study guide is designed to facilitate information retention, helping readers build a strong foundation in financial statement analysis, with practical applications across borders. The volatile global economy makes accurate international financial statement analysis a valuable skill, where insufficient mastery makes precise valuation impossible. International Financial Statement Analysis provides the most up-to-date knowledge, and this workbook offers readers a chance to practice applying that knowledge with carefully constructed problems.
* Work topic-specific practice problems to facilitate intuitive understanding * Review each topic quickly using clear chapter summaries * Understand each chapter's objective to avoid missing key information * Practice important methods and techniques before applying them in the real world It's impossible to tell how well a subject is mastered without applying the relevant concepts to a real-life situation. Valuation depends upon an accurate financial analysis, and practitioners need a solid grasp of the standards, formats, and documentation they may encounter on the international level. Practice makes perfect, and International Financial Statement Analysis Workbook provides plenty of practice and essential tools for understanding.
THOMAS R. ROBINSON, PD, CFA, is Managing Director of the Americas at CFA Institute. ELAINE HENRY, PD, CFA, is a Clinical Associate Professor of Accounting at Fordham University. WENDY L. PIRIE, PD, CFA, is Director, Curriculum Projects, in the Education Division at CFA Institute and served as editor for this book. MICHAEL A. BROIHAHN, CFA, is Associate Professor of Accounting at Barry University in Miami Shores, Florida.
PART I Learning Outcomes, Summary Overview, and Problems CHAPTER 1 Financial Statement Analysis: An Introduction 3 Learning Outcomes 3 Summary Overview 3 Problems 5 CHAPTER 2 Financial Reporting Mechanics 7 Learning Outcomes 7 Summary Overview 7 Problems 8 CHAPTER 3 Financial Reporting Standards 13 Learning Outcomes 13 Summary Overview 14 Problems 15 CHAPTER 4 Understanding Income Statements 19 Learning Outcomes 19 Summary Overview 20 Problems 21 CHAPTER 5 Understanding Balance Sheets 25 Learning Outcomes 25 Summary Overview 25 Problems 27 CHAPTER 6 Understanding Cash Flow Statements 31 Learning Outcomes 31 Summary Overview 31 Problems 32 CHAPTER 7 Financial Analysis Techniques 37 Learning Outcomes 37 Summary Overview 37 Problems 38 CHAPTER 8 Inventories 45 Learning Outcomes 45 Summary Overview 45 Problems 47 CHAPTER 9 Long-Lived Assets 61 Learning Outcomes 61 Summary Overview 62 Problems 64 CHAPTER 10 Non-Current (Long-Term) Liabilities 73 Learning Outcomes 73 Summary Overview 73 Problems 75 CHAPTER 11 Financial Reporting Quality 79 Learning Outcomes 79 Summary Overview 79 Problems 80 CHAPTER 12 Financial Statement Analysis: Applications 83 Learning Outcomes 83 Summary Overview 83 Problems 84 CHAPTER 13 Income Taxes 87 Learning Outcomes 87 Summary Overview 88 Problems 88 CHAPTER 14 Employee Compensation: Post-Employment and Share-Based 93 Learning Outcomes 93 Summary Overview 93 Problems 94 CHAPTER 15 Intercorporate Investments 101 Learning Outcomes 101 Summary Overview 101 Problems 102 CHAPTER 16 Multinational Operations 111 Learning Outcomes 111 Summary Overview 112 Problems 114 CHAPTER 17 Evaluating Quality of Financial Reports 121 Learning Outcomes 121 Summary Overview 121 Problems 123 CHAPTER 18 Integration of Financial Statement Analysis Techniques 125 Learning Outcomes 125 Summary Overview 125 Problems 126 PART II Solutions CHAPTER 1 Financial Statement Analysis: An Introduction 135 Solutions 135 CHAPTER 2 Financial Reporting Mechanics 137 Solutions 137 CHAPTER 3 Financial Reporting Standards 141 Solutions 141 CHAPTER 4 Understanding Income Statements 143 Solutions 143 CHAPTER 5 Understanding Balance Sheets 145 Solutions 145 CHAPTER 6 Understanding Cash Flow Statements 147 Solutions 147 CHAPTER 7 Financial Analysis Techniques 151 Solutions 151 CHAPTER 8 Inventories 155 Solutions 155 CHAPTER 9 Long-Lived Assets 161 Solutions 161 CHAPTER 10 Non-Current (Long-Term) Liabilities 165 Solutions 165 CHAPTER 11 Financial Reporting Quality 167 Solutions 167 CHAPTER 12 Financial Statement Analysis: Applications 171 Solutions 171 CHAPTER 13 Income Taxes 173 Solutions 173 CHAPTER 14 Employee Compensation: Post-Employment and Share-Based 175 Solutions 175 CHAPTER 15 Intercorporate Investments 179 Solutions 179 CHAPTER 16 Multinational Operations 183 Solutions 183 CHAPTER 17 Evaluating Quality of Financial Reports 187 Solutions 187 CHAPTER 18 Integration of Financial Statement Analysis Techniques 189 Solutions 189 About the CFA Program 193
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3rd Revised edition
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