On 2008-10-21 Greenman72, wrote: This book is not bad, but it´s not the best, either.
First, a lot of the problems in the book are incomplete (e.g.: they tell you to depreciate an item but don´t give you the salvage value). And they also don´t give many formulas, but they ask you to come up with them on your own, (e.g. Free Cash Flow). Some of the cases and problems are pretty vague, leaving you to fill in a lot of blanks that are integral to the problem.
This book is also becoming increasingly obsolete. (e.g. it was written before SOX.)
That being said, the book still gives you a good idea of some the ways you can use the information presented in a company´s financials to get a good idea of what´s really going on. . And summed up by saying More useful if it were complete. Currently The Analysis and Use of Financial Statements has an overall rating of 6 over 10.
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Wiley claimed This guide to interpreting financial statements is written from the point of view of financial statement users. It will enable you to make better business and personal investment decisions by understanding how accounting choices affect financial data and how you can adjust reported data to enhance decision making. The book includes comparisons of US with foreign and international accounting standards as well as implications of academic research for financial analysis and decision making. You´ll also find discussion and analysis of such timely issues as market value accounting and off-balance-sheet financing techniques. This updated edition emphasizes coverage of international financial reporting.
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