International Financial Statement Analysis (CFA Institute Investment Series) - Hardcover

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

Hardcover

ISBN 10: 0470916621 ISBN 13: 9780470916629

Publisher: John Wiley & Sons, 2012

Synopsis

Up–to–date information on using financial statement analysis tosuccessfully assess company performance, from the seasoned expertsat the CFA Institute

Designed to help investment professionals and studentseffectively evaluate financial statements in today′s internationaland volatile markets, amid an uncertain global economic climate,International Financial Statement Analysis, Second Editioncompiles unparalleled wisdom from the CFA in one comprehensivevolume.

Written by a distinguished team of authors and experiencedcontributors, the book provides complete coverage of the keyfinancial field of statement analysis. Fully updated with newstandards and methods for a post crisis world, this SecondEdition covers the mechanics of the accounting process; thefoundation for financial reporting; the differences andsimilarities in income statements, balance sheets, and cash flowstatements around the world; examines the implications forsecurities valuation of any financial statement element ortransaction, and shows how different financial statement analysistechniques can provide valuable clues into a company′s operationsand risk characteristics.

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

Financial statement analysis gives investment professionalsimportant insights into the true financial condition of a company,and International Financial Statement Analysis, SecondEdition puts the full knowledge of the CFA at yourfingertips.

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 StatementAnalysis

"Finally, I have a textbook for my Analysis of Foreign FinancialStatements course. I have been searching for years for a suitabletext covering financial statement analysis from an IFRSperspective. I find this book to be an excellent resource."
Sylwia Gornik–Tomaszewski, DBA, CMA, CFM, AssociateProfessor, Department of Accounting and Taxation, Tobin College ofBusiness, St. John′s University

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

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

"This text is a valuable addition to the financial statementanalysis literature with its emphasis on financial reporting froman IFRS perspective, while highlighting major differences betweenIFRS and U.S. GAAP throughout. With the rapid global adoption ofIFRS, it provides a financial statement analysis foundation foranalysts globally who will be comparing IFRS and U.S. GAAPfinancial statements in the coming years as convergence continues.The authors′ integration of the IFRS framework throughout the textis particularly noteworthy, since it is the first source ofguidance that professionals utilize when applying IFRS inpractice."
David R. Campbell Sr., Professor of Accounting,Drexel University

Don′t forget to pick up the International Financial StatementAnalysis Workbook, Second Edition, a companion study guide thatmirrors this text chapter by chapter.

From the Inside Flap

Part of the CFA Institute Investment Series, InternationalFinancial Statement Analysis, Second Edition is designed to helpboth established and aspiring financial professionals effectivelyevaluate financial statements in today′s global markets. Financialstatement analysis is an important tool for gaining insights intothe true financial condition of a company, allowing you to makeaccurate valuations for investment, lending, or merger andacquisition purposes.

Written by the distinguished team of Thomas Robinson, ElaineHenry, Wendy Pirie, and Michael Broihahn, along with a number ofexperienced contributors, the book is a comprehensive compilationof expert wisdom that gives you everything you need to makeintelligent financial decisions in an uncertain global economicclimate.

Designed to help you understand the practical challenges ofworking with financial statements, the book covers the mechanics ofthe accounting process, which is the foundation for financialreporting, and the differences and similarities in incomestatements, balance sheets, and cash flow statements around theworld. Other topics addressed include how to assess theimplications of any financial statement element or transaction, howdifferent financial statement analysis techniques can providevaluable clues into a company′s operations and riskcharacteristics, and more. Fully revised and updated, this SecondEdition features new standards and methods for statement analysisin a post–crisis world.

To enhance your understanding of the tools and techniquespresented here, pick up the International Financial StatementAnalysis Workbook, Second Editon. This companion guide containscarefully constructed problems with detailed solutions as well asconcise learning outcome statements and summary chapteroverviews.

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

Edition details

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