Financial Statement Analysis and Valuation 5th Edition by Zhang Easton McAnally Sommers

Financial Statement Analysis and Valuation 5th Edition by Zhang Easton McAnally SommersISBN-13: 9781618532336ISBN-10: 1618532332Welcome to the Fifth Edition of Financial Statement Analysis & Valuation. Our main goal in writingthis book was to address the needs of today?s instructors and students interested in financial analysisand valuation by providing the most contemporary, engaging, and user-oriented textbook available.This book is the product of extensive market research including focus groups, market surveys, classtests, manuscript reviews, and interviews with faculty from across the country. We are grateful tostudents and faculty whose insights, suggestions and feedback greatly benefited this Fifth Edition.TARGET AUDIENCEFinancial Statement Analysis & Valuation is intended for use in a financial statement analysisand/or valuation course in which profitability analysis and security valuation are emphasized.This book accommodates mini-courses lasting only a few days as well as extended courses lastinga full semester.INNOVATIVE APPROACHFinancial Statement Analysis & Valuation is applications oriented and focuses on the mostsalient aspects of accounting, analysis, and valuation. It teaches students how to read, analyze,and interpret financial statement data to make informed business decisions. This textbook makesfinancial statement analysis and valuation engaging, relevant, and contemporary. To that end,it consistently incorporates real company data, both in the body of each module and throughoutthe assignment material.FLEXIBLE STRUCTUREThe curricula, instructor preferences, and course lengths vary across colleges. Accordingly and tothe extent possible, the 15 modules that make up Financial Statement Analysis & Valuation weredesigned independently of one another. This modular presentation enables each college and instructorto ?customize? the book to best fit their needs. Our introduction and discussion of financial statementsconstitute Modules 1 and 2. Module 3 presents the analysis of financial statements with anemphasis on analysis of operating profitability. Module 4 introduces credit risk analysis. Modules 5through 10 offer an analysis of accounting numbers and disclosures. The aim of those modules is tohelp us better interpret financial statements and to adjust those statements as necessary to improveour financial statement analysis. Modules 11 through 15 describe forecasting, cost of capital estimation,and company valuation.