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How to Read a Financial Report: Wringing Vital Signs Out of the Numbers (How to Read a Financial Report)

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Hidden somewhere among all the numbers in a financial report is vitally important information about where a company has been and where it is going. This is especially relevant in light of the current corporate scandals.
The sixth edition of this bestselling book is designed to help anyone who works with financial reports--but has neither the time nor the need for an in-depth knowledge of accounting--cut through the maze of accounting information to find out what those numbers really mean.

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Product Details

Author:	John A., CPA Tracy
Paperback:	216 pages
Publisher:	Wiley
Publication Date:	February 27, 2004
ISBN:	0471478679
Package Length:	9.8 inches
Package Width:	6.4 inches
Package Height:	0.7 inches
Package Weight:	0.8 pounds
Average Customer Rating:	based on 29 reviews

Customer Reviews

Average Customer Review: 4.5

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Quick and excellent read! Apr 23, 2008
Well written and informative. Book is divided into short and very digestible chapters that focus on various aspects of financial reporting. I found the information on the future of the auditing and financial reporting industry following the downfall of Enron and Worldcom and the passage of Sarbanes-Oxley to be particulary timely and interesting.

Read this BEFORE you take accounting! Apr 22, 2008
As a first year MBA in the middle of my accounting course I was still struggling. I'd aced Accounting as an undergrad, but only then realized Accounting in undergrad is more akin to book-keeping than financial analysis - BIG difference!

A friend recommended this as an additional book that might help explain things, so I ordered a copy. If only I'd read this before starting the course! It explains, in neat and concise language, many of the concepts with which I'd been having a large amount of trouble. It quickly shows how the balance sheet, income statement, and cash flow statement work together to explain what is happening in the business.

My only complaint is that this book doesn't really discuss journal entries. Perhaps that's intentional and might be one reason why this book works, but given how effective it is at simplifying everything else, I would love to have the benefit on Tracy's insight on this as well.

While this book would never replace a full accounting textbook, it should be required reading before ever touching any major text. By focusing on one single company and set of statements, you can concentrate on the concepts without having to try to understand a different set of numbers. This makes a world of difference when trying to understand how everything works together. Once these basic concepts are understood, more advanced details make more sense and things fall into place much, much faster.

Make no mistake: accounting is a different language that takes a long time to learn. Think of this book as a phrase book you use to learn the essentials before (if you must) tackling how the language works. No, you won't be able to tear apart the books and become a genius investor, but it'll turn on the lightbulb that will let you understand other books.

0 of 1 found the following review helpful:

Very Good~ Feb 08, 2008
The book is completely new and I received it only a few days after I ordered it.

Excellent Introduction Dec 22, 2007
This is a great book to start in financial statement analysis. It is targeted for someone with basic to intermediate background in accounting. The book is concise and well-written. The concepts are explained in a clear and intuitive way.

From a lay point of view Nov 28, 2007
Some friends and I have been looking into buying a media company, and none of us have had any experience running a large corportation, or even much in the way of collegete education in financing. This book enabled us to run a high-level diagnostic on the financial health of our prospective business, and recognize certain significant challenges. Consequently, we have had second thoughts, and are proceeding with caution--or at least now we are in a position to make more informed desicions. Amazingly, we were able to find ways to improve the company's financial situation that the CFO has apperantly overlooked--and he's an MBA. ;-)