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The Analysis and Use of Financial Statements [Hardcover]

Gerald I. White , Ashwinpaul C. Sondhi , Dov Fried
5.0 out of 5 stars  See all reviews (1 customer review)
Price: £199.99 & FREE Delivery in the UK. Details
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Book Description

14 Feb 2003 0471375942 978-0471375944 3rd Edition
Accounting Standards (US and International) have been updated to reflect the latest pronouncements. An increased international focus with more coverage of IASC and non-US GAAPs and more non-US examples.

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The Analysis and Use of Financial Statements + Corporate Finance: Theory and Practice + Corporate Governance: Theory and Practice (Palgrave Finance)
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Product details

  • Hardcover: 784 pages
  • Publisher: John Wiley & Sons; 3rd Edition edition (14 Feb 2003)
  • Language: English
  • ISBN-10: 0471375942
  • ISBN-13: 978-0471375944
  • Product Dimensions: 29 x 22 x 3 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Bestsellers Rank: 522,402 in Books (See Top 100 in Books)
  • See Complete Table of Contents

Product Description

From the Back Cover

THE ANALYSIS AND USE OF FINANCIAL STATEMENTS, THIRD EDITION integrates accounting economic theory, and empirical research to provide a framework for financial statement analysis in a user-oriented context. Co-written by academics and practitioners, this is the only text that reaches students to first understand how financial statements are generated. Principles of analysis are then illustrated through the extensive use of actual corporate financial statements.



NEW cases have been added to the web size to develop students' research and analytical skills.


Accounting Standards (US and International) have been updated to reflect the latest pronouncements.


Real companies used to illustrate financial analysis techniques.


End-of-chapter problem material based on US and non - US financial statements such as Holmen, Roche & Takada Chemical.


Comprehensive coverage of financial statement analysis tools and techniques.


Companion Web site which includes annual reports of companies featured in the third edition, appendices, cases, plus updates for new financial accounting standards.

About the Author

Gerald I. White, Grace & White, Inc.Ashwinpaul C. Sondhi, Columbia UniversityHaim D. Fried, New York University

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Most Helpful Customer Reviews
5.0 out of 5 stars Really advanced book 7 April 2014
Format:Hardcover|Verified Purchase
all contect here available to lear financial statements. Quite long but really complete book, i kindly recommend to buy for personal improvement
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Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com: 3.3 out of 5 stars  18 reviews
11 of 12 people found the following review helpful
5.0 out of 5 stars A good book for those seeking fundamental understanding of financial analysis 14 Nov 2005
By Business Analyst - Published on Amazon.com
This book and its accompanying CD is a valuable resource for those seeking a fundamental understanding of financial statements, their usage and signifcance. The chapters are well organized and walks the reader through various aspects of financial analysis. This book lays the foundations of fundamental analysis.

On the filp side, the language could be a little difficult to interpret at times (more Harvardish or Yaleish than common English)and can be a little uninspiring. The authors assume that readers have a basic understanding of accounting which can throw off some readers. But I guess if someone is seeking to get their feet wet in financial analysis, it is safe to presume that he or she will atleast have the basic knowledge in accounting.

Overall, this is a very good and useful book with neumerous real world examples of financial analysis at play. As I have mentioned before, this book lays down the foundation for fundamental analysis. I would recommend this book to all those who are currently persuing a career within the finaicial industry or corporate finance as analyst or aspire to become one - This book is a must read for you.
16 of 19 people found the following review helpful
2.0 out of 5 stars "Slogging" Defined 13 Jun 2006
By Mark Yelavich - Published on Amazon.com
OK folks, here's a contrarian review of this book. Consider it an opinion which "balances" other reviews presented in this book review section. Here goes.

Webster defines the word "slog" as "to plod one's way perseveringly especially against difficulty; to plod heavily".

What an apt description of the effort required to read this book!

If you're engaged in the CFA curriculum, this book comes as a recommended (practically required) textbook. That's unfortunate because this book's various authors are inconsistent in making the material readable and understandable.

Yes, the book is comprehensive. Chapter topics include: Accrual Concept, Analysis of Cash Flows, Ratio and Financial Analysis, Analysis of Long-Lived Assets, Analysis of Income Taxes, Analysis of Financing Liabilities, Leases and Off-Balance-Sheet Debt, Pensions, Intercorporate Investments, Multinational Operations, and Business Combinations. Great stuff to know - practical matters to understand and master.

However, this book presumes a solid understanding of intermediate level accounting, and provides little or no review of these concepts before delving into the topical material. It makes learning more challenging, and when time is of the essence, that's problematic. So I found myself "slogging" through the course material in an effort to learn Level II material.

Supplemental reading is often required to make up for what the authors fail to teach effectively. Here's a tip: Schaum's Intermediate Accounting II has an excellent chapter #10 on Pension Accounting which will benefit you in your studies. Likewise, I have found other Schaums's Outlines to be very instructive and beneficial (consider reading my other reviews).

The CFA Institute would do well to consider recommending other Financial Analysis textbooks to cover the same material - a book that is more readable and user-friendly. One that's more engaging rather than one which requires heavy plodding!
6 of 7 people found the following review helpful
4.0 out of 5 stars Very good book, but not for beginners 14 May 2006
By Petrovszki Péter - Published on Amazon.com
The book requires solid knowledge of accounting so not recommended for beginners. Do not expect long explanations and illustrations. They just give some basic examples and generally they don't provide journal entries. It is not an accounting book! Don't be scared if first time there are parts that are not clear as the chapters are interlinked. Give it another chance.
5 of 6 people found the following review helpful
1.0 out of 5 stars Very confusing textbook 29 May 2008
By Jose Guilherme - Published on Amazon.com
I agree with the more critical reviewers. I'm reading the book for the CFA curriculum and the (mandatory) assignments taken from it are a real pain. The ideas are introduced in the most difficult way possible, the graphical presentation and examples chosen only add to the confusion and in my opinion a reader who does not already have a solid grasp of accounting will simply be unable to follow. By comparison, the other accounting chapters from the CFA curriculum, by different authors, are written in a much more comprehensible (and stimulating) style.

I do not deny that the authors have a profound knowledge of the subject - but this is not enough in order to write a useful textbook. Clarity in presentation and didactical style are also essential, and the authors are unfortunately not very inspired in both items.I hesitated between rating the book with one or two stars but in the end I decided for one star - why be indulgent with authors that are experts in their subject matter but are unwilling (unable?) to put up the extra effort needed in order to keep a reader interested and motivated?

Here's an appeal to the CFA institute - keep the subjects in the curriculum but change the textbook. For instance, "Intermediate Accounting" by Spiceland et alia might be an alternative - it's also quite difficult and demanding but at least the student will be given a fair chance to understand - not just memorize and muddle through- the contents.
7 of 9 people found the following review helpful
3.0 out of 5 stars Pretty good book 19 Dec 2005
By AA - Published on Amazon.com
My accounting professor recommended this book ... found it to be very useful to get a handle on many accounting principles I was struggling with in my MBA course. What I like the best about the book is that it allows you to et as detailed as you want to get - it all depends on your interest. For instance I just wanted to get familiar with some issues like accounting for pension and it has very well explained the basics of pension accounting and on other hand where I wanted to get into details of handling of stock options it had all the details I was looking for.
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