Financial Statement Analysis: A Practitioner's Guide, Third Edition, University Edition

Book Description

Praise for Financial Statement Analysis
A Practitioner's Guide
Third Edition
University Edition

"This is an illuminating and insightful tour of financial statements, how they can be used to inform, how they can be used to mislead, and how they can be used to analyze the financial health of a company."
-Professor Jay O. Light
Harvard Business School

"Financial Statement Analysis should be required reading for anyone who puts a dime to work in the securities markets or recommends that others do the same."
-Jack L. Rivkin
Executive Vice President (retired)
Citigroup Investments

"Fridson and Alvarez provide a valuable practical guide for understanding, interpreting, and critically assessing financial reports put out by firms. Their discussion of profits-`quality of earnings'-is particularly insightful given the recent spate of reporting problems encountered by firms. I highly recommend their book to anyone interested in getting behind the numbers as a means of predicting future profits and stock prices."
-Paul Brown
Chair-Department of Accounting
Leonard N. Stern School of Business, NYU

"Let this book assist in financial awareness and transparency and higher standards of reporting, and accountability to all stakeholders."
-Patricia A. Small
Treasurer Emeritus, University of California
Partner, KCM Investment Advisors

"This book is a polished gem covering the analysis of financial statements. It is thorough, skeptical, and extremely practical in its review."
-Daniel J. Fuss
Vice Chairman
Loomis, Sayles & Company, LP

Customer Reviews:

Great Value.......2006-02-25

I'm not a financial analyst but I'm interested in analysing companies for my own investments. I found the book easy to read. It's a big eye-opener for someone who was not aware of all the accounting gimmicks that aggressive companies can play. I'm certainly a better investor now.

That being said, please note that this book won't tell you much about what you need to do to value a company and invest in it. It will help you spot troublesome companies and accounting tricks that don't look right, but after that you're on your own. You need more than this book to be a good investor, but this book is a pretty important part of being a good investor.

Definately for the Practitioner.......2006-02-17

I needed this book for a Financial Statement Analysis class. It is a decent book, full of examples, so that makes it very interesting; however, the themes are very repetitive. It not an exciting book by any stretch, but it does have some usefulness.

Adobe reader format is a bad choice.......2004-07-25

The publisher limits how many pages can be printed. If you want to print say, two chapters, to take on the plane for reading, you can't print that many pages.

excellent analyst-level text.......2004-05-02

in all likelihood, average investors will not get much out of this book, as average investors don't pore over 10-ks, annual reports and conduct industry analysis prior to investing (which they should!). but for those above average investors who do (read: intelligent investors, per ben graham), this book is an excellent read.

2/3 of the book deals w/ alterting the investor to some of the areas where company mgmt can play games w/ the #s in order to goose the stock price. the examples were helpful, but the insights were not exactly earth shattering for experienced investors.

however, the last 1/3 of the book, on forecasts & security analysis, is worth the price of the book. in 100pgs, you get an MBA-level text on security / credit / financial statement analysis, complete w/ ratio definitions, caveats(!), and applicability. excellent stuff for the beginning or experienced analyst, and i will doubtless refer to the last 1/3 time and again.

Reads well.......2003-05-14

This book is for someone that wants an overview style book. It reads as a novel, or loose conversation would be read. Not a textbook style (dry) book.

Book Description

Guiding you through complex state and local tax issues to help you protect and promote your client's interests-this new book from Panel gives you a quick, solid handle on hundreds of complex issues that cover a vast array of jurisdictions. Truly an essential desk reference, this one-volume resource systematically and authoritatively gives you the detailed answers you need.

The book's accessible Q&A format provides answers to more than 650 questions involving:

* Jurisdiction to tax
* Restrictions on state and local taxation
* Corporate franchise, capital stock, and income taxes
* Nexus, allocation, and appointment
* Sales and use taxes
* Personal income taxes
* Death and gift taxes
* Real and personal property taxes
* Taxation of natural resources
* Audit and assessment procedures.

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State and Local Taxation Answer Book

Manufacturer: Aspen
ProductGroup: Book
Binding: Paperback
ASIN: 078814166X

Product Description

The State and Local Taxation Answer Book guides the user through complex state and local tax issues to help you protect and promote your client's interests - this authoritative book from gives you a quick, solid handle on hundreds of complex issues that cover a vast array of jurisdictions. Truly an essential desk reference, this one-volume resource systematically gives you the detailed answers you need. The book's accessible Q&A format provides answers to more than 650 questions

State and Local Taxation Answer Book: 2003 Cumulative Supplement

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State and Local Taxation Answer Book: 2003 Cumulative Supplement

Manufacturer: Panel Publications/Aspen Publishers
ProductGroup: Book
Binding: Paperback
ASIN: 0735531358

State and Local Taxation Answer Book: Sales & Use Tax

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State and Local Taxation Answer Book: Sales & Use Tax

Manufacturer: Aspen Publishers
ProductGroup: Book
Binding: Hardcover

General | Reference | Subjects | Books
ASIN: 0735518858

Book Description

This handbook explains how to understand, identify, measure, report and account for interest rate risk, and how to use the main market instruments to manage the risk identified. Instruments analysed include forwared rate agreements, interest rate futures, single and cross currency interst rate swaps, government bonds, interest rate options including caps, floors, and swaptions, foreign exchange swaps, and medium-term forward foreign exchange.
The book also addresses the additional issues faced by banks in interest rate risk management due to the regulatory environment and because of their need to allocate cost and revenues to different responsibility centres.
The scope of the book is international. Detailed formulae are included for pricing and risk management of interest rate options. Extensive worked examples are provided.
Available to readers as an optional extra is a disk containing spreadsheets which perform many of the more complex calculations described in the next of the handbook. The disk is accompanied by an explanatory booklet.

Customer Reviews:

One of the very best around.......2002-01-14

Bernard Manson's text is excellent. He writes clearly and really delivers on the practitioner's guide as well as on the theory. A professionals bookshelf should have copies of Hull and Manson to show that they are serious. I would welcome a second edition if at all possible.

Book Description

Here is the new edition of the first attempt to summarize the geology of Africa by presenting it in an atlas and to synthesize the stratigraphy, tectonics, economic geology, geohazards and geosites of each country and territory of the continent. Furthermore, the digitized geological maps are correlated and harmonized according to the current stratigraphic timetable. The atlas aims to contribute to capacity building in African Earth Sciences and to aid the initiation of research and enable the achievement of economic opportunities by providing a database of basic geological background information.

Customer Reviews:

A valuable new book on Africa.......2007-03-12

This a very good collection of maps and descriptions for each African country. The regional geology is generally well described and obviously represents the best consesus and data available. The economic geology is occasionly a bit generic and doesn't cover recent exploration activities in Africa. The hazard and sites descriptions are a bit so so due to lack of data in many cases. The continental review is also usefull (14 pages).

Customer Reviews:

Funny, Funny, Funny.......2002-05-24

First, a disclaimer: I know Patty Hogg, which is both a disadvantage and an advantage. You can dismiss me as biased if you want to. But I've heard Patty tell her animal stories many times, and she is one of the best story-tellers I know. She is as homespun as Garrison Keillor and has a wit that sneaks up on you like his does. This book is a collection of stories about the family dog, all true but told by a woman who can see humor where the rest of us, on our own, would only see frustration. His escapades with the police, a female of the same specie, and the family pet patrol are hilarious. Running through the stories is the theme of freedom vs. containment, and this dog always wins. It's a great book for your own enjoyment and a wonderful gift for dog lovers everywhere.

Hilarious.......2002-04-15

This book took me back to my childhood and the dog we had. The escapades may have been a little different for Dirk but the hilarity of each situation wasn't. This was a great book to pick up and read a couple of chapters at a time or if you need a good laugh. I highly recommend it.

LAUGH-OUT-LOUD FUNNY!.......2002-04-11

If you've ever owned a dog, you won't be able to help but find this book hilarious, but even if you haven't, you'll still recognize its main character from a number of the humans you've known in your life - including, possibly, yourself. Lusting, stinking, footloose males everywhere (like me) will identify with Dirk, who I think is the most SUCCESSFUL canine I've ever read about - successful, that is, at being a dog. Huck Finn himself might well be envious. Ornery, antisocial, and utterly true to himself, Dirk runs roughshod over all propriety, wipes his muddy paws over the clean linen of respectability, and barks in the face of Mrs. Grundy. He's a true hero for our times. HIGHLY recommended!

Book Description

This is the extraordinary story of Vasily B. Emelianenko, the veteran pilot of one of the Soviet Union's most contradictory planes of WWII - the I1-2. This heavily armored aircraft was practically unrivalled in terms of fire power, but it was slow to maneuver and an easy target for fighters. I1-2 had to attack enemy flak columns at extremely low altitudes, which led to enormous tolls both in equipment and personnel. It is no wonder then that, having flown eighty combat sorties against the Germans, Emelianenko was awarded the highest decoration - the Hero of the Soviet Union. He went on to complete a total of ninety-two sorties. His plane was shot down three times, and on each occasion he managed to pilot the damaged aircraft home, demonstrating remarkable resilience and bravery in the face of terrifying odds. Emelianenko's vivid memoirs provide a rare insight into the reality of fighting over the Eastern Front and the tactics of the Red Army Air Force. With remarkable clarity, he recalls what it was like to come face to face with a skilled, deadly and increasingly desperate enemy. Hair-raising encounters with fighters, forced landings on enemy territory, and the death of friends are all brought dramatically and movingly to life in this rare first-hand account.

Customer Reviews:

Homegrown technology and homegrown heroes.......2007-05-23

In unpretentious verse, the author matter-of-factly sets out the course of the air war across the Kuban and Ukraine in World War Two. You see clearly in these pages why pilots in Eastern Europe - be they Soviet or German - suffered the war's highest casualty rates, perhaps second only to penal battalions. At times you feel you're flying in formation with Sturmovik pilots, chasing or being chased by Messerschmidts. The author merely suggests the fear - and does it with great modesty. The book also gives a good feel for the camaraderie in Soviet Air Force, which blossomed regardless of national origin or religion, and supports the notion that the esprit de corps of the Soviet military quickly bounced back after initial disasters. The book also touches on improvements in aircraft technology and in battle tactics, and suggests that Moscow's priority was directed almost entirely to war machines over creature comforts, as where some pilots, for example, had trousers sewn from parachutes, and scrounged for food from the local population - despite having air-to-ground rockets at their disposal.

The author wrote this book late in life as a tribute to all the friends who never returned from combat missions - that is, most of his friends. The book is a simple, easy read and you learn a great deal about the Eastern Front, and serves as an admirable companion piece to something like Catherine Merridale's Ivan's War, which explores everyday life in the Soviet infantry.

One Soviet Pilot's War in the Skies Over Russia.......2006-08-04

"Red Star Against the Swastika" is an extremely well written and compelling story, told for the first time.

The book is one of a series of new World War II memoirs by Red Army soldiers and airmen, which provide fresh and valuable insights into the Soviet armed forces of the Great Patriotic War. It remind us that Ivan, the Red Army soldier, was a living, breathing being, who cherished life as much as his counterparts in the West and who was willing to defend his family and his homeland fanatically and lay down his life dearly for all that he loved.

In "Red Star Against the Swastika" Il-2 Shturmovik pilot Vasily Emelianenko remembers his own war against the German Luftwaffe in the skies over Soviet Russia. Developed before the Second World War for the Soviet Air Force, the Il-2 was the first plane optimized for all ground attack and close air support missions. With an armored pilot's compartment, including specially armored glass, and equipped with multiple heavy machineguns and later cannon, the Il-2 played a major role in the Red Army's defeat of the Wehrmacht in Russia.

Emelianenko flew 92 sorties against the Germans, including 80 combat missions. Shot down three times, he always managed to reach home safely, once after another pilot in his squadron landed his own Sturmovik under fire to rescue Emelianenko. For his courage and successful completion of a number of critical missions, the author was awarded the Hero of the Soviet Union, Soviet Russia's highest award.

"Red Star Against the Swastika" reminds us of the tremendous sacrifices made by Red Army soldiers and airmen to stop the Germans, even when the odds were stacked against them. "After the first weeks of the war our troops did not have enough fighters and anti-aircraft guns left," writes Emelianenko. "Consequently, squadrons flew their attacks without any cover. German aircraft had complete superiority in the air. Soviet military pilots had to pay tremendous prices, and a very few of those who began the war in summer 1941 lasted until victory came."

But, fortunately, the battle did not always go the Wehrmacht's way, and time after time, the Red Army managed to catch the Germans by surprise: "Approaching Bobruysk the Shturmoviks were flying very low. Anti-aircraft guns began to fire....The leader turned and launched the attack. Missiles hit the row of [German] bombers and exploded, tracer bullets shredded the wings with black crosses....Junkers and Messerschmitts ready for operational flights blazed up. Our aircraft came in time and did not allow the enemy planes to take off!"

By 1943 the tide of battle had shifted and the resurgent Red Army seized the strategic offensive, never to lose it again. "In the fierce cruel struggle we managed to crush the enemy that brought war to our land," remembers Emelianenko, "and there is my part of strain, blood and sweat in it." Indeed. In four years of combat, the author's ground attack aircraft division lost 717 men. Two hundred of those were from the 7th Guards Ground Attack Aircraft Regiment, Emelianenko's unit.

Victory thus came at a horrendous price. By the end of the Second World War, Soviet Russia had lost some 27 million people in the war, including ten million soldiers, sailors and airmen killed. And those that survived were changed forever: "Few people lived through the war without deep scars on their bodies and on their hearts," admits the author.

Emelianenko concludes his story with the following words; "My friends said to me then: 'Those who were killed must live in a book. People myst know about them. And write the truth only!' I have done my best."

Loved it.......2006-01-28

One of the best memoirs I've read about the war. The stories in this memoir are at times very moving. The missions they had to accomplish, the sacrifices made (a pilot rams his plane into a column of German tanks and trucks), the lives lost whether to the enemy or by mere accident are incredible. The editing job on the book was quite poor, again and again I found grammatical mistakes on many pages. Yet that shouldn't take away from the great stories that this author was kind enough to share. If one wants to understand what really went on, in this war to the death on the Eastern Front, specifically in the skies, you will not be disappointed in this book. At the end is a helpful list of those pilots who were MIA and KIA throughout the war, the sheer volume of losses is impressive. Few survived the war, yet even so they flew on mission after mission and struggled to get to the front whether from rear area services or from hospitals after being wounded. One pilot who lost both his legs trained to fly again, but in the end was rejected. Another returned to lead a regiment but perished in an accident. As much as you will be presented with death in this book you will never get used to the fact that again and again someone will not return from a mission or will be seen diving toward the ground in a burning plane.

Boring through flak and fighters. . . Cheers for the IL-2s!.......2006-01-08

The Germans Lanser called it the Butcher Bird;a Luftwaffe pilot coined the term Panzerflieger---flying tank---to describe this incredibly tough as nails fighter bomber. The Soviet IL-2s and the heroic pilots and crews who flew them at low level through the tracers and bursting shells of sharp-shooting Flak gunners deserve the West's admiration for the important and often decisive role they played in tearing the guts out of the Wehrmacht in Russia. Now you can read a book about it by someone who was there. Vasily Emelianenko flew IL-2s with his comrades in the 7th Guards Regiment, 230th Kuban Ground-Attack Division. Unlike most Russian wartime memoirs, this one isn't dripping with love for the Communist Party. It's simply a pilot's story of his experiences and the experiences of his comrades, many of whom fell victim to flak and fighter attack, in the desperate life and death struggle waged in the East from 1941-45. Shot down numerous times, often behind enemy lines, Vasily used all his piloting and survival skills to emerge alive and victorious in the war. He is not a braggart and has no difficulties explaining what he did right or wrong in combat. The end of the book includes a list of all the 7th Guard Regiment's pilot losses,which alone is worth the price of the book. I salute Vasily's service and courage from afar. Thank you for your service in the war to defeat Hitler's Germany.

Not so much a combat memoir as a personal memoir.......2006-01-04

It's a good book, but it's not going to teach you anything about flying, combat tactics, or Russian air force procedures. The combat stories in the book are quite limited, and not much detail. In this respect, I was disappointed.

However, as a document of day-to-day life as a pilot, and surviving the war, it is excellent.

You do get a feel for the way the pilots and ground crews viewed the war (and their chances); what it was like to receive the endlessly catastrophic battle reports in the early days; and, life as a combat pilot in rough fields, rough weather, and rough living conditions.

It was interesting to see through eyes of one of the participants. The endless repetition of pilots and gunners being lost gives the reader an inkling of the incredible losses the Soviets endured, and just how lucky the author was to be one of those survivors.

The bottom line, this is a more personal view of wartime life as a pilot, and not so much a combat memoir. But, it is well worth reading.

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Red Star Against the Swastika

Manufacturer: GREENHILL BOOKS
ProductGroup: Book
Binding: Hardcover
ASIN: B000GUHWH8

Amazon.com

This fascinating biography of one of the original first ladies presents a strong character in the context of her eighteenth century and recent feminist thought. Compassionate yet scholarly, intimate yet important, this book offers a refreshing addition to the biographical canon.

Customer Reviews:

Abigail Unmasked.......2002-12-09

I think Abigail Adams is one the greatest and most interesting women in American history.

This book gives us a picture of her as a young woman, as the wife and confidant of John, as a mother, as a manager of farms and homes, and as a friend to many.

It also gives us a window into her life as a woman with a rich and interesting life of the mind and the heart.

A great read!

John wouldn't be John without Abigail.......2002-03-27

In our post Hilary-Clinton world, we assume that the First Lady will influence the President to some degree or another.

John and Abigail Adams, however, were a couple like no other. Their partnership was amazing and John could not have been the man he was (revolutionary, founding father, statesman, president, friend, husband and father), without Abigail. She helped balance him, shared her intelligent and insightful views with him in ways that were supportive and helpful, gave up much of the life she probably envisioned with him so that he could serve his country in a variety of ways, managed his domestic and financial life alone for much of their marriage, and truly loved down to her core this sometimes difficult man.

This book is a great addition to our knowledge of this complex woman. It is worth reading just to understand her better, aside from her well-biographied husband.

A fresh look at Abigail.......2000-04-12

Gelles presents for us Abigail Adams in a new light...the domestic woman. By telling her story thematically (one chapter devoted to her and her sisters, one devoted to her daughter and Abigail jrs fight with breast cancer) we meet a new Abigail...one who is not weighed down by proto-feminist thought, nor is she trying to dominate the home. Abigail was an unusual woman in a few ways, but keep in mind that she kept a family togehter by herself for the many years when John Adams was in Philadephia or England or France. She acted within social norms as a "deputy husband" (to use the language of the times). Although at times I question if Gelles isn't slightly underestimating the second first lady of the US...she presents a new counterpoint to the large body of Abigail Adams scholarship out there. For those scholars of Abigail Adams, her first chapter basically presents in a historiographical manner the various types of Abigail scholarship out there, offering a critique of many of the well-known authors. It is a bit dry at times, but is not at all painful to read.

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Portia: The World of Abigail Adams
Edith B. Gelles
Manufacturer: Indiana University Press
ProductGroup: Book
Binding: Paperback
ASIN: B000OQHJZY

Book Description

A comprehensive textbook for undergraduate courses in introductory probability. Offers a case study approach, with examples from engineering and the social and life sciences. Updated second edition includes advanced material on stochastic processes. Suitable for junior and senior level courses in industrial engineering, mathematics, business, biology, and social science departments.

A First Course in Probability and Statistics With Applications

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A First Course in Probability and Statistics With Applications
Peggy Tang Strait
Manufacturer: Harcourt
ProductGroup: Book
Binding: Hardcover

General | Science | Subjects | Books

General | Mathematics | Science | Subjects | Books

Probability and Statistics (Harcourt Brace Jovanovich College Outline Series)

ASIN: 0155275232

Instructor's manual to accompany Probability with statistical applications: Probability : a first course

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Instructor's manual to accompany Probability with statistical applications: Probability : a first course
Frederick Mosteller
Manufacturer: Addison-Wesley
ProductGroup: Book
Binding: Unknown Binding

First Course in Probability and Statistics With Applications

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First Course in Probability and Statistics With Applications
Peggy Tang Strait
Manufacturer: Harcourt
ProductGroup: Book
Binding: Paperback
ASIN: B000OJTPIK

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A First Course in Probability and Statistics With Applications
Peggy T. Strait
Manufacturer: Harcourt
ProductGroup: Book
Binding: Hardcover
ASIN: B000MC2I4W

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A First Course in Probability and Statistics With Applications
Peggy Tang Strait
Manufacturer: Harcourt
ProductGroup: Book
Binding: Paperback
ASIN: B000OJVNMG

Notes for a first course in probability and statistics with applications

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Notes for a first course in probability and statistics with applications
Peggy Tang Strait
Manufacturer: Queens College
ProductGroup: Book
Binding: Unknown Binding

Customer Reviews:

A great book for teachers and students alike..........2007-09-10

I read this book for the first time when I was in my last semester of graduate work at Kansas State University. I was about to graduate with an M.A. in English that I had no idea how I was going to use. Tallmadge's autobiographical tale of his struggles with nature, self, career, and others encapsulates perfectly the agonizing dilemma that strikes any teacher with the slightest amount of idealism still in their blood. He wants to be true to himself, to, as Joseph Campbell put it, "follow [his] bliss." But he keeps getting derailed: first by the army, and then by a succession of teaching jobs that seem intent on crushing the budding idealism out of his teaching methodology.
While the book is at times a bit overly idealistic and starry-eyed, you can't help but admire the enthusiasm and passion with which Tallmadge tries to instill his passion for nature in his students. He's the kind of teacher that any lover of Emerson, Thoreau, Whitman, or modern writers like Terry Tempest Williams, Leslie Marmon Silko, or the like would immediately take to. He wants his students to understand their connection, not only with the land, but with each other, as a community of learners as well as a community of human beings. And then, at the end, when everything seems to fall apart, he finds solace in the simplest of items: a jack pine cone. I'd say more about that, but I don't want to ruin the moment of revelation that comes at the end.
Sufficed to say that "Meeting the Tree of Life" will leave you with a greater appreciation as well as understanding of the complex relationships that exist within nature as well as within the human soul. Like this review the book can be a little overly flowery at times, but the understanding that comes with reading this book makes those moments of saccharine sweetness almost pleasant. Give this book a try and I'm pretty sure you won't be disappointed.

It's a Wonderful Life!.......2001-11-27

Tallmadge uses the events of his own life to illustrate mankind's connection to the environment and the necessity of wilderness. Writing in the spirit of his admired predecessors, Thoreau, John Muir, Edward Abbey, and Aldo Leopold; Tallmadge attempts to find his own unique voice in the enlightenment of his experience. At times he may get a little too "intimate with the rock", but he leaves the reader an optimistic feeling of the joy of discovery and knowledge.

Wilderness adventure in the nature writing tradition.......1998-11-03

On-Line Review by Leo Goldman, Natural Resources Defense Council.:

In one way, this book is in the tradition of the author's admired nature writers -- such folk as Emerson, Thoreau, John Muir, and Aldo Leopold. But the framework is an autobiography, beginning with brief mention of his childhood in suburbs, which he describes almost as if they were crowded cities, and from which he began to escape at age 15 to backpacking and climbing. A college student during the Vietnam War, he later sought in wilderness "authenticity" and " a model for just and sustainable human societies" -- which he did not see in the world he and his friends had grown up in.

He begins the detailed story with a difficult High Sierra climb -- between his military service (having volunteered for a program of Russian studies and intelligence work in order to avoid Vietnam itself) and graduate school. As he seeks for understanding of his motivations and feelings, he speaks first of challenge, thrill, danger, and athletic pleasure, but eventually realizes that he has become a naturalist, appreciating nature in all its complexity, not just the physical challenges and dramatic views. We follow his wilderness explorations, first in the mountains of the southwest during his first three years as a professor in Utah, then his disappointment in leaving the mountains for his next job, in Minnesota. There, however, he develops an appreciation of the wilderness of the flat country, mostly in canoe trips.

Certainly an offbeat English professor, he had his students read nature writing, then accompany him on difficult treks to mountains and lakes, and return to write about their experiences. This approach was not appreciated by his colleagues, who apparently preferred traditional methods of teaching literature and writing. He ends this volume with the shock of being denied tenure -- but finds new awareness in the metaphor of a pine cone that releases its new life only in fire.

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MEETING THE TREE OF LIFE A Teacher's Path
John Tallmadge
Manufacturer: University Of Utah Press
ProductGroup: Book
Binding: Paperback
ASIN: B000O7NILM

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