Due to the intricacies of contemporary business transactions, the numerous standards issued by the FASB, and the many and varied accounting and disclosure practices and differences in terminology employed by reporting companies, financial statements and related disclosures have become very complex. This complexity can impede the work performed and the decisions reached by all users of financial statements, and especially the book’s primary audience – equity and credit analysts.
Book Details:
- Author: Eugene E. Comiskey
- ISBN: 9780470311875
- Year Published: 2000
- Pages: 640
- BISAC: BUS001010, BUSINESS & ECONOMICS/Accounting / Financial
About the Book and Topic:
Due to the intricacies of contemporary business transactions, the numerous standards issued by the FASB, and the many and varied accounting and disclosure practices and differences in terminology employed by reporting companies, financial statements and related disclosures have become very complex. This complexity can impede the work performed and the decisions reached by all users of financial statements, and especially the book’s primary audience – equity and credit analysts.
An Analyst’s Guide to Financial Reporting and Analysis is designed to be a practical guide. Through the use of contemporary financial-statement examples, extant generally accepted accounting principles are explained and their application is demonstrated. With the examples come a careful consideration of how the disclosures affect analysis. To this end, the concept of financial quality, an accepted useful approach to financial statement analysis, is employed as an organizing theme. Using financial quality as an organizing theme throughout the book, the financial statements and footnotes no longer appear to be a disjointed, static collection of account balances. Rather, financial quality provides a common thread, used to weave the various accounts and disclosures together, providing a clearer, more effective picture of corporate performance.
Using the concept of financial quality as an organizing theme, this book utilizes contemporary financial-statement examples to clearly explain extant generally accepted accounting principles and then to demonstrate their application. * With its focus on financial reporting, this book includes a lengthy, thorough and user-friendly reporting-rule summary, the “Accounting Guides,” as an appendix. * A practical guide, using many examples provides a rich treatment of the subject matter for the working professional. * Examples of contemporary financial-disclosures taken from actual company financial statements of hundreds of companies. * Emphasis on financial reporting and disclosure rules and guidelines, how they impact reporting practices, and the implications these practices have for analysis. * Provides clarity and guidance to help financial-statement users navigate the maze of modern-day financial reports and enhance their ability to use financial statements effectively in formulating more informed decisions.
About the Author
EUGENE E. COMISKEY is the Callaway Professor of Accounting and CHARLES W. MULFORD is Professor of Accounting in the DuPree College of Management at the Georgia Institute of Technology in Atlanta. Both have doctorates in accounting and are professionally qualified as Certified Public Accountants. They also actively consult with lenders at commercial banks in the United States and abroad. Professors Comiskey and Mulford have published articles on financial reporting and analysis issues in leading academic journals and in such widely read professional journals as Commercial Lending Review, Journal of Lending and Credit Risk Management, and Financial Analysts’ Journal. Comiskey and Mulford are also the coauthors of Financial Warnings.