Understanding the Corporate Annual Report

Understanding the Corporate Annual Report : Nuts, Bolts and a Few Loose Screws

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For courses in Financial Accounting, Financial Reporting, Financial Statement Analysis, Introduction to Business, or MBA finance courses.

Understanding the Corporate Annual Report: Nuts, Bolts, and A Few Loose Screws provides a clearly written, step-by-step guide to understanding corporate annual reports. Authors Fraser and Ormiston instruct readers on how to ignore the PR letters from the corporate management team, engaging graphics, and other "garnishes" that typically accompany current annual reports in order to focus on what really counts-a company's performance and financial health! Throughout the text, the authors examine management's attempts to manipulate earnings and other performance measures, and they explain what the numbers in the report really mean.
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Product details

  • Paperback | 160 pages
  • 175.26 x 228.6 x 12.7mm | 249.47g
  • Pearson
  • Upper Saddle River, NJ, United States
  • English
  • 013100431X
  • 9780131004313
  • 2,162,488

Back cover copy

Understanding the Corporate Annual Report: Nuts, Bolts, and a Few Loose Screws, by Lyn M. Fraser and Aileen Ormiston, provides a clearly written, step-by-step guide through the corporate annual report. Fraser and Ormiston cut through the window dressing and attempts by management to manipulate earnings and other performance measures and explain what the numbers and other information mean for purposes of making practical business decisions.

Now you can feel comfortable and confident reading and understanding corporate annual reports of companies in which you've invested. Understanding the Corporate Annual Report:

cuts through complexities and confusions to help readers find and understand what they really need, provides tools for using annual reports to make important financial decisions, and takes a simple, straightforward approach that makes financial reports accessible to all readers, including those without business backgrounds.
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Table of contents

1. I Told My Daughter Not to Invest in Enron.

2. Earnings-Real and Imagined.

3. Assets, Liabilities, and Equity: What a Firm Owes and Owns.

4. Cash Flows-Operating, Financing, Investing.

5. A Comprehensive Analysis.

Supplement: Caution Flags and WorldCom.


Solutions to Test Yourself.

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Review quote

"This book clarifies the complexity of annual reports. Now I understand how to evaluate what they say and can decide more confidently where to invest for my retirement." - Stephen Biles, Program Manager, Dell Computer

"In view of the Enron disaster, more responsibility for making investment decisions will be placed in the hands of the individual investor . . . . In just a few hours, the Fraser/Ormiston book can quickly educate investors how to evaluate the performance of companies in order to make more financially astute decisions. It's a 'must read' for anyone either starting to invest or for anyone who has used the 'dart-board' approach to investing." - Dianne R. Morrison, Finance Professor, University of Wisconsin-La Crosse

"In a time where investors have rightfully questioned the independence of independent auditors ... this book restores some much-needed balance and simplicity to the art of evaluating financial statements. The authors have the ability to make complex topics accessible without watering them down. The Enron Board should have read this book." - Frederick Deal, Financial Analyst, General Dynamics

"This book puts business and accounting rules in clear, direct language. Even if the Enron story had never occurred, this book would be a valuable addition to anyone's library." - Nancy B. Rapoport, Dean and Professor of Law, University of Houston Law Center
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About Aileen Ormiston

Lyn M. Fraser has taught undergraduate and graduate classes in financial statement analysis at Texas A&M University and has conducted numerous seminars on the subject for executive development and continuing education courses. A Certified Public Accountant, she is the co-author with Aileen Ormiston of Understanding Financial Statements (Prentice Hall, 6th edition, 2001) and has published articles in the Journal of Accountancy, the Journal of Commercial Bank Lending, the Magazine of Bank Administration, and the Journal of Business Strategies. She has been recognized for Distinguished Achievement in Teaching by the Former Students Association at Texas A&M University and is a member of Phi Beta Kappa.

Aileen Ormiston teaches accounting in the Business Department of Mesa Community College in Mesa, Arizona. She received her bachelor's degree in accounting from Michigan State University and a master's degree in finance from Texas A&M University. She is a member of the American Institute of Certified Public Accountants, the Accounting Association, and the Institute, of Management Accountants. Mesa Community College was one of 13 universities and colleges that received a grant from the Accounting Education Change Commission, and Aileen was actively involved in developing the new accounting curriculum.

The authors' book, Understanding Financial Statements, has sold more than 140,000 copies.
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Rating details

7 ratings
3.28 out of 5 stars
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3 29% (2)
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1 0% (0)
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