Understanding Financial Statements

This new edition's objective is to take the readers behind the numbers, dazzling presentations, and slick brand marketing of corporate annual reports to assess the reality of a firm's financial condition and performance. Based on the dramatic events that have unfolded in financial markets and the accounting environment as well as extensive feedback from our readers--faculty, students, practitioners, and many others who use the book to develop a better understanding of financial statement analysis--we have introduced some significant new elements in this tenth edition.