book

International Financial Statement Analysis

by CFA Thomas R. Robinson, CFA Hennie van Greuning, CFA Elaine Henry, CFA Michael A. Broihahn

November 2008

Intermediate to advanced

859 pages

25h 22m

English

Wiley

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Title Page
Copyright Page
Foreword
PREFACE
Acknowledgments
Introduction
HISTORYBENEFITSCONVENTIONAL WISDOMTHE TEXTS
CHAPTER 1 - FINANCIAL STATEMENT ANALYSIS: AN INTRODUCTION
LEARNING OUTCOMES1. INTRODUCTION2. SCOPE OF FINANCIAL STATEMENT ANALYSIS3. MAJOR FINANCIAL STATEMENTS AND OTHER INFORMATION SOURCES4. FINANCIAL STATEMENT ANALYSIS FRAMEWORK5. SUMMARYPRACTICE PROBLEMS
CHAPTER 2 - FINANCIAL REPORTING MECHANICS
LEARNING OUTCOMES1. INTRODUCTION2. THE CLASSIFICATION OF BUSINESS ACTIVITIES3. ACCOUNTS AND FINANCIAL STATEMENTS4. THE ACCOUNTING PROCESS5. ACCRUALS AND VALUATION ADJUSTMENTS6. ACCOUNTING SYSTEMS7. USING FINANCIAL STATEMENTS IN SECURITY ANALYSIS8. SUMMARYPRACTICE PROBLEMSAPPENDIX 2A: A DEBIT/CREDIT ACCOUNTING SYSTEM
CHAPTER 3 - FINANCIAL REPORTING STANDARDS
LEARNING OUTCOMES1. INTRODUCTION2. THE OBJECTIVE OF FINANCIAL REPORTING3. FINANCIAL REPORTING STANDARD-SETTING BODIES AND REGULATORY AUTHORITIES4. CONVERGENCE OF GLOBAL FINANCIAL REPORTING STANDARDS5. THE INTERNATIONAL FINANCIAL REPORTING STANDARDS FRAMEWORK6. COMPARISON OF IFRS WITH ALTERNATIVE REPORTING SYSTEMS7. EFFECTIVE FINANCIAL REPORTING8. MONITORING DEVELOPMENTS IN FINANCIAL REPORTING STANDARDS9. SUMMARYPRACTICE PROBLEMS
CHAPTER 4 - UNDERSTANDING THE INCOME STATEMENT
LEARNING OUTCOMES1. INTRODUCTION2. COMPONENTS AND FORMAT OF THE INCOME STATEMENT3. REVENUE RECOGNITION4. EXPENSE RECOGNITION5. NONRECURRING ITEMS AND NONOPERATING ITEMS6. EARNINGS PER SHARE7. ANALYSIS OF THE INCOME STATEMENT8. COMPREHENSIVE INCOME9. SUMMARYPRACTICE PROBLEMS

CHAPTER 5 - UNDERSTANDING THE BALANCE SHEET
LEARNING OUTCOMES1. INTRODUCTION2. COMPONENTS AND FORMAT OF THE BALANCE SHEET3. MEASUREMENT BASES OF ASSETS AND LIABILITIES4. EQUITY5. USES AND ANALYSIS OF THE BALANCE SHEET6. SUMMARYPRACTICE PROBLEMS
CHAPTER 6 - UNDERSTANDING THE CASH FLOW STATEMENT
LEARNING OUTCOMES1. INTRODUCTION2. COMPONENTS AND FORMAT OF THE CASH FLOW STATEMENT3. THE CASH FLOW STATEMENT: LINKAGES AND PREPARATION4. CASH FLOW STATEMENT ANALYSIS5. SUMMARYPRACTICE PROBLEMS
CHAPTER 7 - FINANCIAL ANALYSIS TECHNIQUES
LEARNING OUTCOMES1. INTRODUCTION2. THE FINANCIAL ANALYSIS PROCESS3. ANALYSIS TOOLS AND TECHNIQUES4. COMMON RATIOS USED IN FINANCIAL ANALYSIS5. EQUITY ANALYSIS6. CREDIT ANALYSIS7. BUSINESS AND GEOGRAPHIC SEGMENTS8. MODEL BUILDING AND FORECASTING9. SUMMARYPRACTICE PROBLEMS
CHAPTER 8 - INTERNATIONAL STANDARDS CONVERGENCE
LEARNING OUTCOMES1. INTRODUCTION2. THE IFRS FRAMEWORK3. THE BALANCE SHEET4. THE INCOME STATEMENT5. THE CASH FLOW STATEMENT6. STANDARD SETTERS’ AGENDA FOR CONVERGENCE7. EFFECT OF DIFFERENCES BETWEEN ACCOUNTING STANDARDS8. SUMMARYPRACTICE PROBLEMS
CHAPTER 9 - FINANCIAL STATEMENT ANALYSIS: APPLICATIONS
LEARNING OUTCOMES1. INTRODUCTION2. APPLICATION: EVALUATING PAST FINANCIAL PERFORMANCE3. APPLICATION: PROJECTING FUTURE FINANCIAL PERFORMANCE4. APPLICATION: ASSESSING CREDIT RISK5. APPLICATION: SCREENING FOR POTENTIAL EQUITY INVESTMENTS6. ANALYST ADJUSTMENTS TO REPORTED FINANCIALS7. SUMMARYPRACTICE PROBLEMS
CHAPTER 10 - INVENTORIES
LEARNING OUTCOMES1. INTRODUCTION2. INVENTORY COST AND INVENTORY ACCOUNTING METHODS3. FINANCIAL ANALYSIS OF INVENTORIES4. LIFO ACCOUNTING METHOD UNDER U.S. GAAP5. EFFECTS OF INVENTORY METHOD CHOICE6. SUMMARYPRACTICE PROBLEMS
CHAPTER 11 - LONG-LIVED ASSETS
LEARNING OUTCOMES1. INTRODUCTION2. ACCOUNTING FOR THE ACQUISITION OF LONG-LIVED TANGIBLE ASSETS3. ACCOUNTING FOR THE ACQUISITION OF LONG-LIVED INTANGIBLE ASSETS4. DEPRECIATING LONG-LIVED TANGIBLE ASSETS5. AMORTIZING INTANGIBLE ASSETS WITH FINITE USEFUL LIVES6. ASSET RETIREMENT OBLIGATIONS7. DISPOSAL OF LONG-LIVED OPERATING ASSETS8. IMPAIRMENT OF LONG-LIVED ASSETS9. REVALUATION OF LONG-LIVED ASSETS10. SUMMARYPRACTICE PROBLEMS
CHAPTER 12 - INCOME TAXES
LEARNING OUTCOMES1. INTRODUCTION2. DIFFERENCES BETWEEN ACCOUNTING PROFIT AND TAXABLE INCOME3. DETERMINING THE TAX BASE OF ASSETS AND LIABILITIES4. TEMPORARY AND PERMANENT DIFFERENCES BETWEEN TAXABLE AND ACCOUNTING PROFIT5. UNUSED TAX LOSSES AND TAX CREDITS6. RECOGNITION AND MEASUREMENT OF CURRENT AND DEFERRED TAX7. PRESENTATION AND DISCLOSURE8. COMPARISION OF IFRS AND U.S. GAAP9. SUMMARYPRACTICE PROBLEMS
CHAPTER 13 - LONG-TERM LIABILITIES AND LEASES
LEARNING OUTCOMES1. INTRODUCTION2. BONDS PAYABLE3. DEBT WITH EQUITY FEATURES4. LEASES5. OTHER TYPES OF OFF-BALANCE-SHEET FINANCING6. SUMMARYPRACTICE PROBLEMS
CHAPTER 14 - EMPLOYEE COMPENSATION: POSTRETIREMENT AND SHARE-BASED
LEARNING OUTCOMES1. INTRODUCTION2. PENSIONS AND OTHER POSTRETIREMENT BENEFITS3. SHARE-BASED COMPENSATION4. SUMMARYPRACTICE PROBLEMS
CHAPTER 15 - INTERCORPORATE INVESTMENTS
LEARNING OUTCOMES1. INTRODUCTION2. BASIC CORPORATE INVESTMENT CATEGORIES3. MINORITY PASSIVE INVESTMENTS4. MINORITY ACTIVE INVESTMENTS5. JOINT VENTURES6. CONTROLLING INTEREST INVESTMENTS7. VARIABLE INTEREST AND SPECIAL PURPOSE ENTITIES8. SUMMARYPRACTICE PROBLEMS
CHAPTER 16 - MULTINATIONAL OPERATIONS
LEARNING OUTCOMES1. INTRODUCTION2. FOREIGN CURRENCY TRANSACTIONS3. TRANSLATION OF FOREIGN CURRENCY FINANCIAL STATEMENTS4. SUMMARYPRACTICE PROBLEMS
CHAPTER 17 - EVALUATING FINANCIAL REPORTING QUALITY
LEARNING OUTCOMES1. INTRODUCTION2. DISCRETION IN ACCOUNTING SYSTEMS3. FINANCIAL REPORTING QUALITY: DEFINITIONS, ISSUES, AND AGGREGATE MEASURES4. A FRAMEWORK FOR IDENTIFYING LOW-QUALITY FINANCIAL REPORTING5. THE IMPLICATIONS OF FAIR VALUE REPORTING FOR FINANCIAL REPORTING QUALITY: A BRIEF DISCUSSION6. SUMMARYPRACTICE PROBLEMS
GLOSSARY
REFERENCES
ABOUT THE AUTHORS
ABOUT THE CFA PROGRAM
INDEX

Overview

Written with both the established and aspiring financial professional in mind, this book will help you understand the mechanics of the accounting process, which is the foundation for financial reporting; comprehend the differences and similarities in income statements, balance sheets, and cash flow statements around the globe; and assess the implications for securities valuation of any financial statement element or transaction. Along the way, you'll also discover how different financial analysis techniques—such as ratio analysis and common-size financial statements—can provide valuable clues into a company's operations and risk characteristics.

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