Book Description

This acclaimed, number one market-leading book embraces the basic theme of “different costs for different purposes.”It reaches beyond cost accounting procedures to consider concepts, analyses, and management. Chapter topics cover: the accountant's role in the organization; an introduction to cost terms and purposes; cost-volume-profit analysis; job costing; activity-based costing and activity-based management; master budget and responsibility accounting; flexible budgets, variances, and management control; inventory costing and capacity analysis; determining how costs behave; decision making and relevant information; pricing decisions and cost management; strategy, balanced scorecard, and strategic profitability analysis; cost allocation, customer-profitability analysis, and sales-variance analysis; allocation of support department costs, common costs and revenues; cost allocation: joint products and byproducts; process costing; spoilage, rework, and scrap; quality, time, and the theory of constraints; inventory management, just-in-time, and backflush costing; capital budgeting and cost analysis; management control systems, transfer pricing, and multinational considerations; andperformance measurement, compensation, and multinational considerations. For future accountant who want to enhance their understanding of—and ability to—solve cost accounting problems.

Reviews (5)

Cost Accounting by Horngren
A strength of this book is that there are many color diagrams
throughout which illustrate/highlight the material. The treatment
of process cost accounting is thorough and highly simplified
with many detailed examples to illustrate the computation of
equivalent units. In process cost accounting, it is critical
to understand the physical flow of costs, as well as,
interdepartmental transfers and modified cost assumptions.
In addition, there is a thorough treatment of managerial
cost accounting in the areas of discounted cash flow, internal
rate of return, compounding, depreciation and cash flow,
net present value, uncertainty, inflation, capital budgeting,
payback and the accounting rate of return. Lastly, there is
a good treatment of decentralization and transfer pricing.
The book is worth the price of admission. Classic problems
from this text have been replicated on some form or another
on professional and collegiate standardized tests.
This work helps to support what is taught in a collegiate
finance course, as well as the cost accounting element.

The thrust of a cost accounting course is for the B or better
student. There is a fair amount of work in this course.
As such, it is geared for accounting, finance or economics
majors. Quantitatively oriented students will enjoy the presentation as well as a wide constituency of teachers
in academe. Even college administrators would find this
text useful for preparing budget schedules and interdepartmental
cost analyses. Engineering companies would
benefit by having a detailed analyses of process costing and
managerial accounting on individual construction jobs.

thank you
the book was in excellent condition. I received it a couple of days after I ordered it. Thank you for saving me money and time!!!

Good Job!
I received the book very quickly and I got it new at a great price. I saved about 50 dollars. Wow!!! I will buy from this seller again if they have what I need.

Most Prompt Delivery
This was the fastest service I have received regarding a textbook. It was worth the effort to get the ISBN number ahead of time from the instuctor's to buy my books and save money. Thank you for the expedited service. I will patron again. I only wish this were a hardcover to withstand the abuse of a backpack.

i wouldn't recommend it to anyone at all
i've never seen such a poor book before. it is poor organized. and i got after 25 days from my order date. ... Read more

Book Description

Now in its Third Edition, Financial Accounting by Kimmel, Weygandt, and Kieso has been tested and approved in the classroom. This best-selling text has helped students hit the road with a practical set of tools, and the confidence they need to use those tools effectively in making business decisions.

Financial Accounting provides students with an understanding of those concepts that are fundamental to the use of accounting. Starting with a "macro" view of accounting information, the authors present real financial statements and establish how a financial statement communicates the financing, investing, and operating activities of a business to users of accounting information. They motivate students by grounding the discussion in the real world, showing them the relevance of the topics covered to their future career.

Student Workbook:  This valuable study guide, written to use side-by-side with the Financial Accounting textbook provides the guidance and assurance you need to exceeed in the course.  Included a re study objectives, demonstration problems, true/false and multiple-choice questions, solutions, to exercises, chapter outlines, and blank working papers. ... Read more

Reviews (5)

This Book is Terrible!
This book is terrible! It gives different definitions for the same term several times in the first few chapters. Why doesn't it just give one coherent, comprehensive definition for each word?!! The concepts are broken up and presented helter-skelter, so reading this book is like working a tedious jigsaw puzzle. Then it includes lots of problems at the end of each chapter, but there is no answer key, and the Solutions Manual is only available to teachers. Do they think that my professor is too lazy or too stupid to make up his own tests? (Hint to oblivious writers/editors: a textbook is useless if students cannot practice working problems and check the answers on their own. This is not third grade, and my professor is not a babysitter!) I bought the workbook (which contains practice tests) separately, but I still don't have the answers to the problems at the end of the chapters. I will speak to the department heads at my college and beg them to switch publishers next semester.

Great Book for Beginners
I used this book for my very first Accounting course and it was great. The author uses up to date info and really caters to a first year student such as myself. I can only hope that all of my Accounting books will be like this one.

Clear & Concise
This book is required of my Financial Accounting course and it is a great choice. The book displays many colorful illustrations and is pretty clear in the messages that it attempts to explain. This book will definitely help you to get an A in your class...or at least pass! The only flaw that I see is that it does not give many answers to the exercises and problems in the chapters. Otherwise, it is pretty good.

Good ACC Book for First-Time Accountants
This book is EXCELLENT for students and others to learn the fundamentals of accounting for the first time. The authors have made the chapters are easy and it comes with A LOT of review exercises to sharpen your skills!

Students really like this book.
Accounting can be a dry subject, but this book is actually interesting to read. There are lots of companies used as examples, and the authors really try to show you how accounting is used to make decisions. There is a Decision Toolkit that talks about what tools to use to make certain decisions. There are lots of photographs, helpful illustrations and great use of color. ... Read more

Book Description

This widely respected financial accounting text captures the predominant market share among graduate, MBA, and better undergraduate programs. It focuses on presenting, with great clarity, both the basic concepts underlying financial statements and the terminology and methods that allow students to interpret, analyze, and evaluate actual corporate financial statements. ... Read more

Reviews (4)

Don't waste your money
If I could burn this book, I would. It is that bad. For an "Introduction" book used in an intro MBA class where most accounting types have already tested out of the class it is overly complex and confusing to the layman. Wordy beyond belief. The only redeeming feature is its ability to put you to sleep. Keep it on the bed stand.

Overly complex
This was the first accounting book I've ever read when I took my very first accoutning class at my graduate business school. For those who are new to accounting, this is not at all a good introduction. The authors simply inundate the reader with a plethora of information which is way too wordy and unnecessary at the beginning level. The authors seem more concerned about leaving nothing out in their writing as opposed to teaching the readers about the basics of the balance sheet, income statement, cash flows, inventory valuations, etc. It almost gets to the point in which I suspect the authors are simply showing off what they know as opposed to genuinely understanding that a reader like me has no previous accounting background. The chapter contents are not too logically organized and the explanation of concepts are excessive and unnecessarily complex. The authors seems to forget that when it comes to teaching accounting to someone who has never took accounting before, they should keep the concepts as basic as possible before going onto more in-detail discussions. The authors does the exact opposite and explains the accounting concepts from the intermediate point of view first, leaving the reader to come up with his own interpretation of what the basics should be. This is a complete waste of time for the reader, for all students would prefer that the authors get right to the point, directly and clearly, about how to construct a balance sheet, income statement, etc. The good thing about this book are the highlighted study problems presented in each chapter. The questions are useful and stimulate good application thinking, and the answers provided are an adequate explanation of how the questions should be answered. Unfortunately, the authors don't include enough of these study problems. If they had expanded upon these study problems and made them more comprehensive to the relevant chapter material, this book would have been a much more stronger teaching tool. Instead, we have an unnecessarily complex and not too organized textbook which is not really adequate for the beginning accounting student. Most of my fellow classmates did not enjoy reading this book and felt that it is an unsatisfactory way to be introduced to the world of accounting.

The worst accounting book
This book is the worst accounting text book I have ever seen. It is poorly organized and full of distracting explanations which turn easy and clear points into long and complex stories.
Definately supplier-oriented product by MBA professors.

Best Buy!!
The book clearly explains the concepts and methods of financial accounting required for the MBA course.
The langauage used is clear and unambigous.
In short a must buy for any MBA student!! ... Read more

Book Description

Financial statements are the basis for a wide range of business analysis.Managers, securities analysts, bankers and consultants all use them to make business decisions.There is strong demand among business students for course materials that provide a framework for using financial statement data in a variety of business analysis and valuation contexts. ... Read more

Reviews (7)

Useful if cumbersome
This review applies to the edition WITH CASES. This isn't recommended for anyone who is just starting out with choosing investments. Beginners might be better off with a more general overview of financial statement analysis (FSA) like Higgins' "Analysis of Financial Statements" or Fraser and Omriston's "Understanding Financial Statements".

This was one of two textbooks used in a financial statement analysis course I took for my MBA. Most chapters are down-to-earth and as a whole the book is well-written.

The other text we used was Penman's "Financial Statement Analysis and Security Valuation" which was also a great resource as far as gaining a basic understanding of the mechanics of financial statements and how to build a valuation model.

I contrast the two books because while Penman provides a run-down of several different models analysts can use (and does a good job of arguing for the Residual Income Model of valuation model as being the best), Palepu delves into the implications of companies' choices of accounting methods and provides more insight into what different kinds of businesses should look like in terms of their financial statements.

The cases at the end of each chapter add a lot of value to the text because they get students to focus on the specific issues detailed in each chapter. By picking apart different companies' financial statements we learned to use financial statements to assess the success or failure of companies' efforts to carry out their business strategies.

I rate it "Good - 4 stars"

Required Text
This is a required text at my school, but after having read the first 5 chapters there is almost nothing of value that I have read. I have spoken to several people that have used this text for the class in prior semesters and they told me that they had stopped reading it after the first several chapters also.

Excellent Capstone Book
This book is an excellent description of all the elements that would go into reviewing a potential investment opportunity. It is not a detailed book in one category, such as financial accounting, but it ties business strategy analysis, financial analysis, forecasting analysis, and valuation analysis together. Most other books focus on one area and don't tie all of these together well. This one takes you down the path to evaluating the opportunity to its fullest. It is an excellent capstone book after you have sifted through the details of strategy, finance, and accounting.

Just same old story
I am using this book for a business valuation class now. Nothing but a binding many buzzy theories. Too many stories in a limited pages. This is not a good book for those who wants to deepen understanding of one subject.

A good book blending accounting, investing and finance !
This book is also a bestseller in Japan. Here someone called it "The only textbook now available that broadly explains accounting figures in the valuation model of the firm". This is a good book for beginners. Although the contents might be somewhat easy, the order in which it is written is very meaningful. You will probably have read everything in this book somewhere else, but certainly not in this order ! The importance of the ideas in this book go beyond its contents !! ... Read more

Reviews (3)

Worst textbook I've used..
This textbook is really bad. Not very informative at all comparing it to other financial accounting books. It gives very broad descriptions and definitions that make it feel more like a grammar school book than a college-level. I was very unhappy that my professor assigned my class with this book. If you do not need to buy it, please don't, it's horrible.

A worthless text book...
I purchased this book because its the prescribe text book. The treatment of the content is average. What annoys me is there are little or no answers to the exercises. I later learnt that Prentice Hall supplies the solution manual to the instructors, but they dont make it available to students....huh??

The authors come out with editions every year. I compared the 4th and 5th edition. Very little content changed, but they have smartly changed few numbers here and there in the exercises, forcing students to buy their latest edition.

In short...this book is just a sucking machine....Worthless for $125. I dont know if the instructors get a big cut in prescribing this worthless text book...

Extremely Frusterating
I bought this book to better understand Financial Accounting. This book is loaded with errors. The end of chapter problems do not balance correctly. I had a CPA do the same problems, and he came up with the exact same totals as me!

Another annoying thing to point out is that the book only gives answers to a small select random of problems. Of course they are the easier ones. I would love to get answers/explanations on the incorrect ones. I have written emails, and none have been responded. I am not suprised... ... Read more

Book Description

Accounting Standards (US and International) have been updated to reflect the latest pronouncements.
* An increased international focus with more coverage of IASC and non-US GAAPs and more non-US examples. ... Read more

Reviews (9)

This Book Is Excellent...and Essential
After reading the reviews on this book, I feel that I must comment on the book's high quality.

In order to fully appreciate this book, an understanding must exist as to where the material fits in the financial analysis process. Clearly this book is not meant to explicitly teach readers how to build financial models; other books are available for that purpose. This book is designed to teach readers how to thoroughly read, understand, and more importantly, become an astute critic of the language of financial statements, GAAP.

I disagree that technical accounting details are not very important in analysis engagements. Rather the opposite holds true in a majority of cases: One must thoroughly understand technical accounting and the implications that it has on economic reality in order to build quality financial models. Otherwise, "junk in/junk out" models will result.

Given the highly publicized debacles that have recently occurred in the financial world, including Enron, the importance of distinguishing technical accounting from economic reality has become obvious. This book does effectively explain and build off the foundations of GAAP; however, this book is primarily focused on helping an analyst analyze and question the quality of financial statements versus how to simply prepare them. This is the big difference between this book and technical accounting textbooks.

Of course, building financial models for decisions is the end objective of any analyst. However, this book is a must read in building quality financial models and projections. Again this book is not a financial modeling textbook, nor a technical accounting manual. Rather, it is a critical bridge between technical accounting material and decision modeling material. I recommend taking the time to read this excellent book and walk across the bridge before moving on to modeling.

Good reference book; poor textbook
Given the glowing rating this book has received from most reviewers, I have been somewhat disappointed with this book. My main thought is this: This is a good book for non-accountants to keep as a *reference text* since the authors' do a good job of explaining technical financial accounting matters in a straightforward way. However, I do not think this is a good book to actually *learn financial statement analysis* from.

The book tends to focus on technical accounting details while ignoring other important aspects of analysis (e.g., econometric methods, the relationship between the decision model and the nature of the analysis, etc.). It is difficult to tell what the authors see as the most important, central concepts and methods in financial statement analysis. One gets the idea that if you were to ask the authors "What are the really important concepts and methods in this book?", they would answer "Oh, it's *all* good!"

In my experience as an analyst, technical accounting details were rarely important--even when using historical financial statement data to develop financial simulation models for firms. There's a simple explanation for why this is so: An individual firm's financial statements might be "garbage," but the only reasonable way of telling this is by making inferences from the relationship between exogenous economic factors, competitors' financial results (on average), and the individual firm's results. It's about the only reasonable way to extract signals (likely economic "truth") from noisy financial statement data.

I definitely agree with previous reviewers who stated the book is poorly written: it is often both wordy and vague. Consider the (lack of) discussion on p. 332 of the important topic, R&D expenditures:

"Companies invest in ... (R&D) because they expect ... profitable future products. However, absent a resultant commercial product, these expenditures may have not value to the firm. Further, the value of any product may be unrelated to the amount spent on R&D. Due to valuation uncertainties, R&D is generally unacceptable to creditors as security for loans."

I think they mean this: Firms make investments since they expect economic returns on them, but return on R&D expenditures is usually very unpredictable. (Whew. I'm glad they told me! Now I won't feel stupid when talking to other analysts.) The authors then proceed immediately to a summary of accounting standards on R&D expenditures. (This is financial statement analysis?)

It's not clear either that the purpose of presenting a cohesive view of financial statement analysis is served by the sometimes excessive references to empirical research by accounting academics. A cynical reader might suspect this is done to ingratiate the book with accounting professors who will make it the required text for their course!

In the end, I think the book fails to explain fundamental concepts and methods of analysis by which specific information is derived from financial statements for input to specific decision models. What's the antidote? Get Fridson (Wiley) and Bergevin (Prentice-Hall): Nice straightforward books that really explain how to do financial statement analysis.

EASY TO UNDERSTAND WITH GOOD EXAMPLES THAT ARE TO THE POINT
This book is great!!! I have finished reading the assigned chapters for the CFA test and I already feel way more confident than I did last year after using Stalla study notes. Buy the book because it helps you way more in terms of examples and explanations. Trust me I know.
Note: Example are clear and concise!!!

Comprehensive and Insightful
In order to determine whether you should buy this book, you have to understand its purpose.

It is not an Accounting textbook nor a preparation for the CPA exam.

In other words, it is not directed at the preparers of financial statements but rather at the users.

The authors do an excellent job of explaining accounting concepts in a clear and detailed manner. That explanation includes a comparison of different methods for accounting for the same transaction, a discussion of deficiencies/inconsistencies in accounting rules, etc.

Building on all this, the authors then move on to explain how to analyze financial statements - to wring insights out of the accounting data beyond the "standard" analytical tools. This is the book's real value.

This excellent book belongs in the reference library of anyone who needs to understand and analyze financial statements.

One measure of its value is that AIMR uses it as one of the fundamental textbooks for its CFA program.

Insightful
This book will surely broaden your horizon on how to analyse and use the financial statements properly. (it popped my eyes ! )

The book will explain many accounting concepts used in the marketplace, which unfortunately make the financial statements incomparable. The authors did a very good job, in an interesting way, on exlaining how to eliminate (or at least to reduce) the problem. This book also puts a very high importance on the cash flow statements, which in nature is a little bit more difficult to manipulate than income statements (and therefore more suitable for financial analyses).

No matter what accounting concepts that the company use, the reader will be able to analyse and compare various financial statements on apple to apple basis.

Every single aspects of financial statements analyses is covered. This is the best textbook I've ever read, and too bad that I can't put rating higher than 5 stars. ... Read more

Book Description

Financial and Managerial Accounting has been updated to incorporate detailed information on recent legislation affecting the accounting profession, including the Sarbanes-Oxley Act. The accompanying CD and PowerWeb applications give you greater interaction and continuously updated information.

Book Description

The ninth edition thoroughly involves students with financial statements by using real-world examples. It builds skills in analyzing real financial reports through statements, exhibits, and cases of actual companies. Emphasis is placed on the analysis and interpretation of the end result of financial reporting--financial statements. ... Read more

Book Description

Available Now!

Get the Study Guide designed to ensure your success in Financial Accounting!  This study guide is a powerful tool for in classroom use and for preparing for exams. Each chapter of the guide includes study objectives, a chapter review consisting of 20-30 key points, and a demonstration problem linked to study objectives in the textbook. True/false, multiple-choice, and matching questions provide additional practice opportunities. Solutions to the exercises are detailed and therefore provide substantial feedback. ... Read more

Book Description

"In the complex new world of Sarbanes-Oxley, it isrefreshing to read a book that has comprehensive answers for general managerswanting to do the right thing."—Jim Balsillie, CEO of Research in Motion

"Scott Green has provided us with a book on managementcontrols that is as engaging as it is illuminating.I enthusiasticallyrecommend this book to managers of financial institutions of any size."—John Duffy, Chairman of Keefe, Bruyette & Woods

"Recent, widely publicized business failures and accountingdeficiencies that were a contributing cause make a strong case for acomprehensive system of controls, such as those proposed in Scott Green'sbook."—Orval Hansen, Former U.S. Congressman

"A necessary read for any director, executive, or line managerwho is serious about monitoring the health of their internal controlstructure."—Holly Gregory, Partner at Weil, Gotshal & Manges

"A must-read . . . is the chapter on the 'Control Smart'approach.This chapter, which will clearly help businesses monitor themselves,covers all the key factors necessary to 'erase vulnerabilities anderect a strong [control environment] defense,' ranging from pinpointing comingthreats and knowing your vulnerabilities to protecting your business andmonitoring its health."—Herman A. Berliner, PhD Provost and Senior VicePresident for Academic Affairs, Lawrence Herbert Distinguished ProfessorHofstra University

Manager's Guide to the Sarbanes-Oxley Act
In reaction to high-profile frauds and congressional legislation, the SECmandated that managers of public companies certify that they have anoperational system of internal controls. While larger companies can afford tospend millions of dollars to implement control system monitoring tools,managers of small to mid-sized companies can be unsure of how to move forwardif their budgets can't accommodate expensive advisors and systems. Manager'sGuide to the Sarbanes-Oxley Act provides a highly accessible, simple, andpractical approach to help you assess your internal control structure at thetransaction level.

Designed to be "a cure for the Sarbanes-Oxley headache andcommon fraud," Manager's Guide to the Sarbanes-Oxley Act introduces thegroundbreaking and practical "Control Smart" approach that not only meets therequirements of Sarbanes-Oxley, but also alerts you if operational controlsstop working or are otherwise compromised. This simple template helps youidentify and understand operational threats, and guides you through acomprehensive evaluation of your system of internal controls to mitigate theserisks.

Manager's Guide to the Sarbanes-Oxley Act features:

• A razor-sharp method to monitor the opera- tional risks inherent in your business
• Numerous real-world examples illustrating how to avoid common pitfalls, such as those faced by Harvard University's Hasty Pudding Theatricals, Adelphia Communications, and Bridgestone Corporation (Firestone)
• Case studies and vignettes highlighting the personalities at Enron and Tyco who enabled a fraudulent corporate culture, as well as whatone person did right to reveal the smoke-and-mirrors accounting practiced at WorldCom
• Clear, jargon-free coverage of the Sarbanes-Oxley Act and how it affects you

Armed with this hands-on guide, you can detect early signsof fraud and operational loss, and safeguard your job, your employees' jobs,and the long-term success of your company.Don't let fraud derail your career.Protect yourself with the fail-safe Control Smart method found in Manager'sGuide to the Sarbanes-Oxley Act. ... Read more

Reviews (7)

Readable and informative starting point
I've read a number of books and literally thousands of web pages of information about Sarbanes-Oxley, and have to rank this book as the best starting point for stakeholders who are peripherally involved in compliance. The reasons are:

(1) It's readable! This is not a dry, boring tome, but a highly readable summary of Sarbanes-Oxley, what it is (and isn't), and realistic examples and anecdotes to reinforce the material.
(2) It covers a surprisingly lot of ground for a book aimed at a non-practitioner audience. The Control Smart Framework, detailed advice on identifying threats and vulnerabilities, and how to protect yourself are invaluable to anyone directly or indirectly involved in Sarbanes-Oxley compliance.

In addition to the rich information and clear explanations of key elements of Sarbanes-Oxley I like the appendices, which also provide useful information - especially appendices B (Key Performance Indicator Reporting), C (Examples of Key Performance Indicators) and D (Control Activities).

This book will quickly get you up-to-speed about Sarbanes-Oxley and its ramifications, and will do so relatively painlessly compared to other books on the basics of the Act.

If you're looking for a more in-depth book, especially one that addresses the scope and complexity of Section 404 compliance, I highly recommend "How to Comply with Sarbanes-Oxley Section 404: Assessing the Effectiveness of Internal Control (ISBN 0471653667). If you are an IT professional I strongly recommend visiting Information Systems Audit and Control Association (ASIN B00006BW74), which makes available a free 84-page document titled "IT Control Objectives for Sarbanes-Oxley". For more general information, there is a commercial site that provides news and updates on Sarbanes-Oxley issues (ASIN B0000AM23N), as well as the Public Company Accounting Oversight Board (ASIN B00013Y80Y), which provides rule making information and a means to comment on proposed rules. You can reach these sites by pasting the ASIN numbers in the search box at the top of this page, selecting all products and clicking GO.

Informative and Enjoyable Reading
Sarbanes-Oxley Act (SOA) is probably the single most important law affecting corporate governance and financial disclosure since the US securities laws of the early 1930s.
This book describes in a practical and concise manner the complexity of Sarbanes-Oxley Act for non-financial managers and directors, and gives a pathway model to develop an efficient control environment of businesses. I found very useful and straightforward to implement the Control Smart approach to help obliterate vulnerabilities and develop a strong defense against corporate fraud.
I think that this book is a valuable, must read guide for both, financial and non-financial managers. I would also recommend it as reference manual for management training programs as well as business schools.

Smooth reading and very informative!
I found the book to be smooth reading and very informative. The book provides detailed examples of internal control issues from actual companies. I have a newfound understanding of these issues now, because of the level of detail and the varied perspectives provided in by the author. I would recommend this book to anyone in a managerial position concerned with internal controls in their organization.

An unusually relevant and perceptive guide
The title to this book, while timely, doesn't really do the content justice, for the book is more than just a guide to the Sarbanes-Oxley Act - it addresses a range of corporate risk management issues to relevent to middle level managers up through board members. Scott Green manages to strike a good balance between discussions of strategic issues and of practical implementation considerations in the areas of control and fraud prevention mechanisms. It also contains some of the more insightful assessments I've seen of "what went wrong" at some of the more notable corporate failures of recent times. The book is written in a highly readable fashion and I'd recommend it to any manager, company advisor, or board member looking to get a better handle on considerations related to Sarbanes-Oxley and the topic of internal controls in general.

An Invaluable Tool
This book is highly accessible and the concepts easy to understand, with many real-life examples to help the reader focus. It will prove most useful to board members, corporate counsel, executives and managers who often are not trained to evaluate internal controls but who now must understand not only controls assessment, but also the inherent risks associated with these processes. Small and mid-cap companies can benefit from this book as it should help them defray the costs of implementing increased controls and compliance. ... Read more

Book Description

Term Sheets & Valuations is the first ever in-depth look at the nuts and buts of terms sheets and valuations. The book, written by leading venture capitalist Alexander Wilmerding of Boston Capital Ventures, covers topics such What is a Term Sheet, How to Examine a Term Sheet, A Section-by-Section View of a Term Sheet, Valuations, What Every Entrepreneur & Executive Needs to Know About Term Sheets, Valuation Parameters, and East Coast Versus West Coast Rules. In addition, the book includes an actual term sheet from a leading law firm with line by line descriptions of each clause, what can/should be negotiated, and the important points to pay attention to. A must have book for any executive, entrepreneur, or financial professional.

Praise for Term Sheets & Valuations:

"This primer should be required reading for every entrepreneur. It is short, authoritative and worth its weight in gold." - Murray Low, Executive Director, Columbia Business School, Eugene M. Lang Center for Entrepreneurship

"An invaluable resource for executives and financial professionals." - Graham D.S. Anderson, General Partner, EuclidSR Partners

"A valuable resource for entrepreneurs..." - Jeffrey Donohue, Esq. ... Read more

Reviews (12)

Most Insightful Book Ever Written on Venture Capital
I would spend $1,000 for this book - simply put. Even though I am a VC, I was completely awe struck by the detailed information on raising capital, term sheets and valuations this book presented. Besides having great insight into raising venture capital, the highlight of the book is clearly an actual term sheet, put together by one of the leading law firms, with line by line descriptions of what the wording means and actual "legal wording" for "investor favorable," "entrepreneur favorable," and "neutral" terms. This is information you pay $20,000 for with your lawyers. This book is a must have for any entrepreneur, venture capitalist or financial executive.

The Book Every Management Team, VC & Lawyer Should Have
This is by far the most widely used title by every venture capitalist. I would highly recommend this book to every vc, lawyer, and management team member (especially) of every company looking to obtain venture financing. You could not find better advice on negotation points, changes to wording or overall guidance on a term sheet than Wilmerding's advice in this book. Especially look at Chapter 3 where Wilmerding goes through line by line what every parapraph means on a term sheet. Also check out Wilmerding's other book, Deal Terms, or Raising VC From a Tier 1 Firm (which includes the entire text from Term Sheets & Valuations and Deal Terms).

Advice from a seasoned financial professional....
After having this book referred to me by about 7 of my venture capital friends I decided to take a look. Well, I was very impressed as this is the first venture capital book I have seen to provide a true insider's perspective. This book literally tells you exactly the wording you need to use to make the section applicable to you - whether you are a:

Venture Capitalist

Entrepreneur

Lawyer

Etc.

Look at the below section and the detail it provides (you should note the book itself goes on to explain what this entire section means and what each section specifically does):

(4) Conversion: [Investor Favorable, Middle of the Road and Company Favorable are the same.]

The holders of the Series [A] Preferred shall have the right to convert the Series [A] Preferred, at any time, into shares of Common Stock. The initial conversion rate shall be 1:1, subject to adjustment as provided below.

(5) Automatic Conversion:

Investor Favorable:

The Series [A] Preferred shall be automatically converted into Common Stock, at the then applicable conversion price, (i) in the event that the holders of at least two thirds of the outstanding Series [A] Preferred consent to such conversion or (ii) upon the closing of a firmly underwritten public offering of shares of Common Stock of the Company at a per share price not less than [3 times the Original Purchase Price] per share and for a total offering with net proceeds to the Company of not less than $40 million (a "Qualified IPO").

Middle of the Road:

The Series [A] Preferred shall be automatically converted into Common Stock, at the then applicable conversion price, (i) in the event that the holders of at least two thirds of the outstanding Series [A] Preferred consent to such conversion or (ii) upon the closing of a firmly underwritten public offering of shares of Common Stock of the Company at a per share price not less than [2 times the Original Purchase Price] per share and for a total offering with gross proceeds to the Company of not less than $25 million (a "Qualified IPO").

Company Favorable:

The Series [A] Preferred shall be automatically converted into Common Stock, at the then applicable conversion price, (i) in the event that the holders of at least a majority of the outstanding Series [A] Preferred consent to such conversion or (ii) upon the closing of a firmly underwritten public offering of shares of Common Stock of the Company at a per share price not less than two times the Original Purchase Price (as adjusted for stock splits and the like) and for a total offering of not less than $5 million, before deduction of underwriters commissions and expenses (a "Qualified IPO").

The Industry Standard for Term Sheets in the VC Industry
As a VC, I can tell you this is THE book every VC, lawyer, investment banker and entrepreneur has on their desk regarding term sheets. It is a great overall reference and the line by line explanations are extremely important for anyone doing deals. I would also highly recommend Wilmerding's second book "Deal Terms" and "Executive Reports: Raising VC From a Tier 1 Firm" which includes this entire book, Deal Terms, Ways of the VC and a list of top VC Firms. I am also told this book specifically is available as a CD-Rom (sold separately), in a Word document, that you can use for your own dealings.

This Book Saved Me
As an entrepreneur trying to secure venture financing, this book was a godsend. Not only did it help me better negotiate with my investors, but it made me seem like I really knew what was going on and had experience in the area. It also saved me thousands in legal fees since I was able to make suggestions on my own time (not lawyer time). My backers were quite impressed with this book themselves and all bought copies after I shared it with them when the deal closed. If you have any ties to venture capital at all, this book is worth it's weight in gold. ... Read more

Book Description

Financial Accounting 6e, is designed to prepare users to succeed as future business managers. The text demonstrates how financial statements are useful and interesting tools for diagnosing a companys problems or strengths, and for making loan, investment, acquisition, employment, and political decisions. The sixth edition interweaves analytical principles with real examples and real data from well-known companies. This text takes a business-activities approach to link accounting to what a business really doesoperating, investing and financing. The result provides students with the practical skills they need to understand complex business issues and make smart strategic decisions. ... Read more

Reviews (1)

Very good initial approach to Financial Accounting
This is the textbook we were given for our Financial Accounting class in our MBA. So far, it's proven to be an excellent complement to the lectures, and even as a stand alone book, it contains enough information to guide you through the initial steps of financial statement generation and analysis. It definitely is very pricey, but it is a very good book. ... ... Read more

Book Description

The premise of the text is that students learn financial statement analysis most effectively by performing the analysis on actual companies. Students learn to integrate concepts from economics, business strategy, accounting, and other business disciplines. The text is designed for courses on financial statement analysis and financial reporting found in accounting, finance, and economics departments. ... Read more

Reviews (8)

Good Book for Executives and Students
This is good Financial Reporting and Analysis book. Some chapters have been presented in a bit confusing way, overall it deserves good rating.

Great book for executives-students
A good book and great resource for someone interested in viewing FSA broadly. The authors do not forget the importance of accounting and reporting to analysis, however. Very current.

a really bad and confusing book
Students in search of a good book on financial statements should look at "The analysis and Use of financial statements" from White/Sondhi/Fried. Professor Stickney seems more interested in making money than in writing a decent book

Found the book a nice balance between reporting and analysis
As someone who wants finance, accounting, and strategy all in one book, this does a nice job of integrating things. Current examples are great. Access to solutions to cases would be most helpful

broad, limited illustrations of case problems
For someone with just the basic knowledge of accounting or finance, this book would certainly pose a challenge- especially with the case problems. ... Read more

Book Description

Students are often overwhelmed by the amount of information presented in the introductory financial accounting course.By focusing on fundamental concepts in a logical sequence, students are able to fully comprehend the material rather than memorize seemingly unrelated terms and topics. The goal of Fundamental Financial Accounting Concepts is to enable students to understand how any given business event affects the financial statements.The “Financial Statements Model” is a highly praised feature because it allows students to visualize the simultaneous impact of business events on all of the key financial statements (the income statement, the balance sheet, and the statement of cash flows). The mechanics of accounting coverage (debits and credits) is delayed until chapter 4, providing faculty the flexibility as to the amount of emphasis they want to place on this topic. ... Read more

Reviews (4)

A good book with the right instructor
I've read the reviews stating that this is a confusing book.I disagree completely.Although the author does not immediately delve into traditional T-accounts, the introduction of the "horizontal model" serves as a good foundation for building the awareness of the accounting equation that should be second nature BEFORE tackling T-accounts.The text's preface states: "A horizontal financial statements model replaces the accounting equation as the predominant teaching platform.The model enables students to VISUALIZE THE SIMULTANEOUS EFFECTS OF A SINGLE BUSINESS EVENT on the income statement, balance sheet, and statement of cash flows."I felt as though this methodology was very effective for my learning style.Recording transactions in T-accounts came almost as second nature after mastering the horizontal model.

The "Working Papers" (a separate workbook) makes doing the assigned problems easy by providing a ready-made template for each problem.If you've had to draw your own T-accounts or your own journal in a notebook before, you will definitely appreciate this.

This text serves as a good introduction to the skills necessary to master financial accounting.

Most Confusing Accounting Textbook On The Market Today.
This Book begins using something called horizontial statments and then in chapter 5 switches to regular T accounts thus confusing students completely, I have yet to find a student that tells me the book is easy to understand or useful. It would be helpful if there was a solutions manual. Our school will change books next semester. It's not even good enough to make dorm furniture.

Great college companion!
This book is an excellent book to go with a Financial Accounting course.Everything is laid out in plain English, and shows you in diagrams and models exactly how each kind of transaction works.I recommend for professors everywhere to adopt this book for their clases.I'm glad mine did!

This textbook is a great intoduction to financial accounting
Edmonds, McNair, Milan, and Olds have created a very easy to understand textbook for learning the basics of financial accounting.It makes the learning of the endlessly complicated parts of accounting very simple and can help to cease new accounting student's fears of going on in theprofession.Even though lightly marred by a few errors, it is a greatintroductory book. ... Read more

Book Description

Like the most successful businesses, this text successfully integrates innovation with tradition by showing how the preparation of financial accounting information is useful. CORPORATE FINANCIAL ACCOUNTING uses the preparation of financial statements as the framework for understanding what accounting is all about. ... Read more

Book Description

Ideal for first-year accounting courses, this market dominating text presents balanced coverage of both financial and managerial topics. In this text, the authors refine their proven approach to accounting's expanding role in business. This text uses the preparation of financial statements as the framework for understanding what accounting is all about. ... Read more

Reviews (3)

I have found this book to be a okay for college classes
The book does a alright job of teaching students how to learn accounting.It lacks answers to which could definitly help students. The book's main advantage is that it has many real life examples that help students relateto accounting.

Well laid out, not a strain to follow or learn from.
This book was real easy to pick up the accounting basics that the authors presented. The text is broken up with graphic presentations and real world examples which makes it easy on the eyes and the brain. At the end of everychapter is illustrative problems, discussion questions, multiple choice,exercises and chapter problems. When you've completed a chapter you reallyfeel you know the material. Plus there are tons of internet stuff. Worththe money and cheaper than the other accounting book I was forced to buy.

good college textbook, should be cut to 900 pages
Good if you have lots of time to kill, because it has some pages devoted to useless information such as the stupid poem on page 1022 that hasnothing to do with accounting. It appears the authors placed lots of"real world" trivia that is boring and useless. Entire page of964 talks about the reason why Coca-Cola will not do business with Lakersbecause they signed Pepsi spokeman Shaq O'Neill, it has nothing to do withthe subject butthe extra pages makes you think you got something for thehigh priced book. If you absolutely need this book, go borrow it from yourpublic library and save your money.The book manuscript was NEVER approvedby a CPA or business owner but a long list of college instructors. It doescover all the basics. ... Read more

Book Description

"All investors, from beginners to old hands, should gain from the use of this guide, as I have."
From the Introduction by Michael F. Price, president, Franklin Mutual Advisors, Inc.

Benjamin Graham has been called the most important investment thinker of the twentieth century. As a master investor, pioneering stock analyst, and mentor to investment superstars, he has no peer.

The volume you hold in your hands is Graham's timeless guide to interpreting and understanding financial statements. It has long been out of print, but now joins Graham's other masterpieces, The Intelligent Investor and Security Analysis, as the three priceless keys to understanding Graham and value investing.

The advice he offers in this book is as useful and prescient today as it was sixty years ago. As he writes in the preface, "if you have precise information as to a company's present financial position and its past earnings record, you are better equipped to gauge its future possibilities. And this is the essential function and value of security analysis."

Written just three years after his landmark Security Analysis, The Interpretation of Financial Statements gets to the heart of the master's ideas on value investing in astonishingly few pages. Readers will learn to analyze a company's balance sheets and income statements and arrive at a true understanding of its financial position and earnings record. Graham provides simple tests any reader can apply to determine the financial health and well-being of any company.

This volume is an exact text replica of the first edition of The Interpretation of Financial Statements, published by Harper & Brothers in 1937. Graham's original language has been restored, and readers can be assured that every idea and technique presented here appears exactly as Graham intended.

Highly practical and accessible, it is an essential guide for all business people--and makes the perfect companion volume to Graham's investment masterpiece The Intelligent Investor. ... Read more

Reviews (7)

A concise, yet quite exhaustive book on financial statements
This booklet is just over a hundred and twenty small pages, yet manages to deliver a brief but comprehensive overview on the various items figuring both on Balance Sheets and on Income Statements.

This book is typically Ben Graham. Short, concise, elegantly written, laid back, it boils down to essential considerations while, of course, nothing is taken for granted. A brief and pleasant overview on useful considerations when one is checking financial statements, except for the fact that there is no treatment of the nowadays standard Cash Flow Statement, which can be seen either as a default or as an advantage, considering that there is some sound treatment of the Balance Sheet cash positions and of the quality of earnings in view of certain depreciation and maintenance charges.

At the end, there is also an over thirty pages lexicon of financial terms and phrases which can be quite useful.

Why This Edition Instead of 3rd/4th Edition?
Why they republished this edition when they might have republished the Second or Third Revised Edition (by Graham and Charles McGolrick, published in 1964 and 1975, respectively) beats me. The latter two editions are unquestionably better,as both are more current, and contain more useful tips regarding contextual interpretation.

It's true that the primary value of Graham's text is its framework, which provides concision in summarizing a potentially confusing topic. This framework persists through all four editions. Also, it's true that all four editions are pretty dated (there is no discussion of cash flow statement interpretation in any edition obviously, for example, although Graham alludes to the significance of cashflow interpretation somewhat disparagingly in the latter editions).

But all of Graham's guidelines for balance sheet analysis are still current in the latter two editions, as are his brief guidelines for bond analysis and earnings power. The first edition seems less useful in these respects.

One might assume that there is value in going back to the first edition of this small volume as one might go back to the first edition of Security Analysis. There are indeed nuggets in the first edition of Security Analysis which have been mysteriously removed from later editions. But that isn't true with The Interpretation of Financial Statements. If you can get your hands on a copy of the 1964 or 1975 edition of this book, you will likely find either more useful than this original edition.

Valuable
For the novice or the professional - this short, concise book is worth it's price.

Ben Graham was the author of many books and the voice of sound advice, his principles are not dated even today.

This is my investing bible
Although corporate 10Q's have become more complex due to a lot of the offbalance sheet investments they do, e.g. Enron. If a company is honest and has value this book will help you find it. So the way I approach my investing I have to assume all companies are honest unless proven otherwise.

So much time is taken to explain diversification by many other books, but none gives you the practical expertise to make an informed decision. This book does. It is a handy reference that sits on my desk. I use it to review annual reports and to interpret online SEC filings just to make sure the companies I have invested in are actually healthy.

This book is small, but what I have found over the years is that smaller books are better. They leave out the fluff and all you get are the meat and potatoes of what you need to know.

If you take your time to understand the information presented and use it, you'll be teaching your broker a thing or two at the end of the day.

Very Worthwhile
Like gold, this small book provides a very high value. With interest in Graham and value investing growing, this small book provides a compact reference to the various parts of a balance sheet and income statement you will become very familiar with as you read his other books.

Fantastic reference on its own. . ... Read more

Book Description

Completely revised for the new computerized CPA exam—all the information you need to master!

• The most effective system available to prepare for the CPA exam—proven for over thirty years
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• Comprehensive questions—over 3,700 multiple-choice questions and their solu-tions in the four volumes. Covers the new simulation-style problems. Includes over 90 simulations—almost three times more examples than any other competitor
• Complete sample exam in business environment and concepts
• Guidelines, pointers, and tips—show you how to build knowledge in a logical and reinforcing way

Wiley CPA Examination Review 2005 arms test-takers with detailed outlines, study guidelines, and skill-building problems to help candidates identify, focus on, and master the specific topics that need the most work.

Other titles in the WILEY CPA EXAMINATION REVIEW 2005 FOUR-VOLUME SET:

• Auditing and Attestation
• Business Environment and Concepts
• Regulation

See inside for the entire array of Wiley CPA Examination Review Products!

The computer-based CPA exam is here! Are you ready?

The Wiley CPA Examination Review 2005 books are revised and updated for the new computerized exam, containing AICPA sample test questions released as recently as March 2004. To help candidates prepare for the new exam format, this edition includes a substantial number of the new simulation-type questions. Passing the CPA exam upon your first attempt is possible! We'd like to help. ... Read more

Book Description

While many texts characterize themselves as having either a “user” approach or a “preparer” approach, Williams, Financial Accounting, is written for faculty who want to strike a balance between these approaches. Business majors will find relevance in the “Management Strategy,” “Your Turn” and “Case in Point” boxes throughout the chapters while accounting majors will receive a firm grounding in accounting basics that will properly prepare them for their intermediate accounting course. Perhaps the most important new feature is the online companion, My Mentor. This text-specific online resource uses video clips, animated graphics and Excel templates to demonstrate accounting concepts, expressing accounting visually. This solves a problem that many introductory students have in accounting: It allows them to link concepts and numbers together in a interactive rather than print environment. ... Read more

Book Description

From one of the hottest author teams in accounting comes a new edition of the highly-successful Financial Accounting! This edition retains the traditional procedural coverage of the previous editions along with a practical decision-making focus. Anyone who will ever be asked to prepare or use accounting information to make effective decisions will benefit from this best-selling text! ... Read more

Reviews (1)

Great book!
This book is just great. It was the first book I had read about accounting and it helped me a lot. If anyone wants to learn about accounting, that person should pick this book. It's easy to read and very informative. ... Read more