Financial Statement Analysis [antikvár]

Prior to writing the first edition of this book, I surveyed professors who teach courses in financial statement analysis at the undergraduate and graduate levels. As an input to preparing this second edition, I engaged in discussions with users of the first edition and obtained course outlines. What I discovered in both surveys is that there seems to be very little consensus within our profession regarding the objectives or content of such a course. Among the differences I observed were the following: 1. Accounting, fináncé, or economics faculty may teach the course. 2. The course may place as much emphasis on the effects of alternative accounting principles as on concepts, tools, and skills for analyzing financial statements. 3. Instructors may use the course primarily as a setting for introducing students to computers and analytical software. 4. The course may focus on the most recent research findings and the methodological issues in conducting empirical research using financial statement data. 5. The course may presume students have had only an introductory financial accounting course, or less, or that the students have had the equivalent of a major in accounting. It was not surprising that the professors I spoke with felt that the textbooks now on the markét satisfied somé of their needs but that seldom did one textbook satisfy all of them. In this regard, I have no delusions about the potential for this textbook either. I had three premises in writing this book: 1. The financial statement analysis course serves as a synthesizing experience for students, integrating concepts and skills from accounting, fináncé, economics, business policy, and related disciplines. 2. Problems and cases based on data for actual companies enhance student motivation and skill development. 3. The text, problems, cases, software and related materials should provide sufficient flexibility to permit professors to adapt these materials to suit their particular objectives and needs. Presented below are somé suggestions that might be helpful to professors using this textbook. 1. The core material for performing financial statement analysis appears in Chapters 1, 2, 6, 7, 8, and 9. Using selected problems at the end of each of these chapters, students are exposed to the basic concepts and tools of financial statement analysis in twelve to fifteen hours of class time.