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• Cover
• Table of Contents
• Title Page
• Copyright
• LIST OF EXHIBITS
• PREFACE TO THE TENTH EDITION
• Part One: FUNDAMENTALS
• 1 ARMING YOU WITH ESSENTIAL KNOWLEDGE
• What Is a Financial Report?
• Financial Information and the Big Three Financial Statements
• Let’s Speak the Proper Language
• A Final Word before You Dive into the Rest of the Book
• 2 STARTING WITH CASH FLOWS
• Summary of Cash Flows for a Business
• What Does the Cash Flows Summary Not Tell You?
• Profit Is Not Measured by Cash Flows
• Cash Flows Do Not Reveal Financial Condition
• A Few Additional Thoughts to Keep in Mind
• 3 BEDROCK FINANCIAL STATEMENT #1: THE INCOME STATEMENT
• The Income Statement: A Closer Look
• Reporting Profit Performance: The Income Statement
• 4 BEDROCK FINANCIAL STATEMENT #2: THE BALANCE SHEET
• Reporting Financial Condition: The Balance Sheet
• 5 REPORTING CASH FLOWS
• The Statement of Cash Flows
• Cash versus Accrual Accounting
• Financial Tasks of Business Managers
• Part Two: CONNECTIONS
• 6 FITTING TOGETHER FINANCIAL STATEMENTS
• One Problem in Financial Reporting
• Connecting the Dots
• 7 SALES REVENUE AND ACCOUNTS RECEIVABLE
• Exploring One Link at a Time
• How Sales Revenue Drives Accounts Receivable
• Accounting Issues
• 8 COSTS OF SALES REVENUE, INVENTORY, AND ACCOUNTS PAYABLE
• Acquiring Inventory on the Cuff
• Accounting Issues: Accounts Payable
• Holding Products in Inventory Until They Are Sold
• Inventory Control
• Accounting Issues
• 9 OPERATING EXPENSES AND PREPAID EXPENSES
• Paying Certain Operating Costs before They Are Recorded as Expenses
• Accounting Issues: Using Prepaid Expenses to Massage the Numbers
• 10 DEPRECIATION AND AMORTIZATION EXPENSE, AND FIXED AND OTHER LONG-TERM ASSETS
• Overview of Expense Accounting
• Up First, Depreciation Expense
• Accumulated Depreciation and Book Value of Fixed Assets
• Book Values and Current Replacement Costs
• Intangible Assets
• 11 OPERATING EXPENSES AND ACCOUNTS PAYABLE
• Recording Expenses before They Are Paid
• 12 ACCRUING LIABILITY FOR UNPAID EXPENSES
• Recording Accrued Liability for Operating Expenses
• Accounting Issues
• 13 INCOME TAX EXPENSE AND ITS LIABILITY
• Taxation of Business Profit
• Accounting Issues
• 14 INTEREST EXPENSE, ACCRUED LIABILITIES, AND LOANS PAYABLE
• Bringing Interest Expense Up to Snuff
• Type, Purpose, and Source of Loans
• Accounting Issues
• 15 NET INCOME, RETAINED EARNINGS, AND EARNINGS PER SHARE (EPS)
• Net Income into Retained Earnings
• Earnings per Share (EPS)
• Accounting Issues
• 16 CONNECTING THE CASH FLOW DOTS
• Profit versus Cash Flow from Profit
• Changes in Assets and Liabilities That Impact Cash Flow from Operating Activities
• Profit before the Bottom Line
• Completing the Statement of Cash Flows
• Seeing the Big Picture of Cash Flows
• Accounting Issues
• Part Three: USING AND ANALYZING FINANCIAL STATEMENTS
• 17 FOOTNOTES AND MANAGEMENT DISCUSSIONS
• Financial Report Content in Addition to Financial Statements
• Financial Statements: A Brief Review
• Why Footnotes?
• Two Types of Footnotes
• Management Discretion in Writing Footnotes
• Analysis Issues
• 18 FINANCIAL STATEMENT RATIOS AND ANALYSIS: STRENGTH
• Financial Reporting Ground Rules
• Financial Statement Preliminaries
• Benchmark Financial Ratios—Strength
• Final Comments
• 19 FINANCIAL STATEMENT RATIOS AND ANALYSIS: PERFORMANCE
• Financial Performance versus Financial Strength
• Two Cash Flow Ratios to Chew On
• 20 FINANCIAL ENGINEERING
• What Financial Engineering Is Not
• What Financial Engineering Is
• Common Types of Financial Engineering
• Financial Engineering and QW Example Tech, Inc.
• A Final Word
• 21 FINANCIAL FRAUD, AKA COOKING THE BOOKS
• Non-Number Fraud Flags
• Financial Fraud Flags
• Critical Thoughts on Fraud
• The Moral of the Story
• 22 CPAs AND FINANCIAL REPORTS
• Certified Public Accountant (CPA)
• From Preparation to Audit of Financial Reports by CPAs
• Why Audits?
• Do Auditors Discover Financial Reporting Fraud?
• 23 BASIC QUESTIONS, BASIC ANSWERS
• When You Buy Stock Does the Company Get Your Money?
• Are Financial Reports Reliable?
• Are Some Financial Statements Misleading and Fraudulent?
• Should You Take the Time to Compute Financial Statement Ratios?
• Why Read Financial Statements, Then, If You Won’t Find Information That Has Been Overlooked by Others?
• The Financial Statements and Footnotes of Large Public Companies Would Take Several Hours to Read Carefully: What’s the Alternative?
• Is There a Basic Test to Gauge a Company’s Financial Performance?
• Do Financial Statements Report the Truth, the Whole Truth, and Nothing but the Truth?
• Does Its Financial Report Explain the Basic Profit-Making Strategy or Profit Model of a Business?
• Does the Market Price of a Public Company’s Stock Shares Depend Directly and Only on the Information Reported in Its Financial Statements?
• Does the Balance Sheet of a Private Business Tell the Market Value of the Business?
• Do Books on Investing and Personal Finance Refer to Financial Statements?
• A Very Short Summary
• ABOUT THE AUTHOR
• INDEX
• End User License Agreement