The process of financial statement analysis allows you to gain important insights into the true financial condition of a company. With it, realistic valuations can be made for investment, lending, or merger and acquisition purposes. While this discipline has increased in complexity—especially on an international level—there are ways to deal with the practical challenges you'll face. As part of the CFA Institute Investment Series, International Financial Statement Analysis has been designed to help you effectively evaluate financial statements in today's volatile markets and uncertain global economy.

With International Financial Statement Analysis, the distinguished team of Thomas Robinson, Hennie van Greuning, Elaine Henry, and Michael Broihahn—together with a number of experienced contributors—provides you with complete coverage of the most important issues in this field.

Written with both the established and aspiring financial professional in mind, this book will help you understand the mechanics of the accountingprocess, which is the foundation for financial reporting; comprehend the differences and similarities in income statements, balance sheets, and cash flow statements around the globe; and assess the implications for securities valuation of any financial statement element or transaction. You'll also discover how different financial analysis techniques—such as ratio analysis and common-size financial statements—can provide valuable clues into a company's operations and risk characteristics.

Along the way, you'll also become familiar with many other essential aspects of this discipline, including the importance of income tax accounting and reporting, the difficulty of measuring the value of employee compensation, and the impact of foreign exchange rates on the financial statements of a multinational corporation.

And to enhance your understanding of the tools and techniques presented here, don't forget to pick up the International Financial Statement Analysis Workbook. This companion guide contains carefully constructed problems with detailed solutions as well as concise learning outcome statements and summary chapter overviews.

Straightforward and accessible, International Financial Statement Analysis provides you with the continuity of topic coverage that is so critical to the learning process. Filled with in-depth insights and expert advice, this practical guide offers a detailed look at how financial statement analysis can be understood in a global context and applied around the world.

Chapter 1 Financial Statement Analysis: An Introduction
Chapter 2 Financial Reporting Mechanics
Chapter 3 Financial Reporting Standards
Chapter 4 Understanding the Income Statement
Chapter 5 Understanding the Balance Sheet
Chapter 6 Understanding the Cash Flow Statement
Chapter 7 Financial Analysis Techniques
Chapter 8 International Standards Convergence
Chapter 9 Financial Statement Analysis: Applications
Chapter10 Inventories
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