Book Description

A complete guide to leveraging the power of Sarbanes-Oxley–specifically for nonprofits

The first book to discuss the implications of Sarbanes-Oxley legislation as it relates to nonprofit organizations, Sarbanes-Oxley for Nonprofits is an essential guide for all nonprofit executives and boards who want to know how the new legislation can enhance their organization's mission.

By establishing a "platinum standard" of operations and governance within nonprofit organizations, executives and board members will be better equipped to attract high-quality staff and board members, as well as the attention of donors and other potential funding sources. Sarbanes-Oxley for Nonprofits presents the best practices that have emerged from the Public Company Accounting Reform and Investor Protection Act (Sarbanes-Oxley) in a manner that explains their source and value to the nonprofit organization.

Written for both small and large nonprofits, Sarbanes-Oxley for Nonprofits includes:

• Practices intended to establish a "platinum standard" of operations and governance within the nonprofit
• Coverage of audits, financial statements, board activities and decision making, how to teach board members to read and interpret financial statements, conflicts of interest, whistle-blower protection, and how to leverage these standards to gain a competitive advantage
• Sarbanes-Oxley best practices and the organizational culture
• Sample documents, forms, and checklists to introduce these best practices into any nonprofit organization
• And much more!

Book Description

Every company large and small wants to boost its sales, control its spending, and keep the auditors at the Internal Revenue Service happy. But, no company wants to waste time on more paperwork. These days, a growing number of companies are turning to QuickBooks accounting software not only to speed up their bookkeeping efforts, but manage their businesses more effectively.

Organizations come in all shapes, sizes, and business models, so it's no surprise that accounting practices can be a convoluted road to travel. QuickBooks can handle many of the financial tasks companies face, but the price you pay is an overabundance of software features. To make the learning curve even more challenging, QuickBooks doesn't come with a manual.

Fortunately, to help pave the road to accounting success, there's QuickBooks 2005: The Missing Manual, a comprehensive guide from O'Reilly that examines everything the QuickBooks Pro edition has to offer, from invoices and inventory to assets and accounts payable.

With QuickBooks 2005: The Missing Manual, financial managers can quickly learn how to use the program's tools to implement and maintain critical accounting processes. By covering details in a friendly and light-hearted way, the book explains when and why a feature is useful, and then offers indispensable, relevant advice.Each page of this Missing Manual provides insightful tips and tricks to help readers become more efficient, sophisticated users no matter what the extent of their existing knowledge is.

Whether you're interested in QuickBooks for its basic bookkeeping features or its more powerful, business planning tools, the only way to truly harness its power is to read the book that should have been in the box: QuickBooks 2005: The Missing Manual. ... Read more

Reviews (5)

Thank Goodnes!! A Missing Manual for QuickBooks 2005
Many readers may already be familiar with the QuickBooks software, or its personal, home finance management software Quicken, both from the Intuit company. Intuit is well known for their superb financial management software, and when you purchase the QuickBooks 2005 software, you will receive additional startup documentation to help you with the software.

However, as is the case today with most all software, companies just cannot any longer afford to produce extensive paper based user manuals, as this cost just can no longer be considered essential, mainly because this would add further cost to the software. In today's highly competitive software market, vendors are always looking for ways to add value to their program, while not necessarily adding cost to the product. Thus, in most all software programs today, the user's manual, or the help on using the software is electronic and built into the software instead of being printed on paper based books included with the program in its retail box.

While this is understandable, this has also opened a market for third-party, add-on paper books from the computer book publishing industry, which is best exemplified by this large, impressive title by Bonnie Biafore from Pogue Press/O'Reilly. As is always the case with any O'Reilly title, you can depend on the material to be of high quality, well written by professionals known to be experts in their field, and of great value to readers.

In the case of the QuickBooks software, Pogue Press/O'Reilly has provided an important title that will likely sell very well because of the hundreds of thousands of customers who are working with or seriously considering Intuit's QuickBooks software to help them manage their company's finances.

useful Merchant Services?
Biafore puts before you a rather detailed helper for QuickBooks. While she concentrates on the Pro version, the text helpfully describes differences with the entry level Basic version, that is strictly for a single user. And she also compares what the Pro lacks vis-a-vis the more expansive (and expensive) Premier and Enterprise level solutions.

If you have used other Missing Manual books, you might discern that this text seems to have more intricacy than most of those. In part, this could reflect the subject at hand - your accounting. By its very nature detailed and quantitative. Those who need this product tend to be highly motivated to knuckle down and spend the necessary time to read all the details. Other texts on other products might describe consumer level products that are recreational. A book like this, you read because you have to.

In the text, I found the most interesting remarks were about the optional Merchant Services offered by Intuit. Where you can get a merchant account through them, that lets you accept credit card payments from your customers. You'll have to evaluate the cost-benefit details compared to going to a bank. But potentially it's a great time saver, that lets you outsource a lot of the hassle of handling credit cards. If that is probably not a core competence of yours, it's worth considering Merchant Services.

Great book--tons of useful advice
Full disclosure: I'm the editor of this book, so the fact that I think it's an extraordinarily useful guide should come as no surprise. I am, however, in a good position to comment on the inaccuracies of RH's review, posted on March 8, 2005. First, although the reviewer says s/he bought "QuickBooks 2005: The Missing Manual," returned it and then bought "QuickBooks 2005 The Official Guide," in fact, s/he had posted a positive review of "The Official Guide" three months earlier. More important for other potential readers, the reviewer's comments about sales tax are plain wrong: pages 298 to 301 of "QuickBooks 2005: The Missing Manual" are devoted to setting up sales tax payments, with step-by-step instructions, and additional discussions are sprinkled throughout the book--and all cross-referenced, where relevant. Finally, the book is jammed with tips and advice about QuickBooks,and how to use it to make good financial and business decisions--all things you can't find in either the Help files or other books on the subject. We hope this Missing Manual is truly helpful to many readers!

A must have guide
This book is clear, concise and detailed.It tells you what you need to know to get the most from the software as quickly as possible.

I took over my company accounts a few months ago, and none of the available books were much help - until this was published.

Buy it - it's exactly what you hope it is.

Not very helpful
This book does not teach you anything about Quickbooks you couldn't find in the Help Files. There are no tips or special tricks to help you set up and use Quickbooks efficiently. I returned it, and for the same price, bought the Quickbooks Official Guide by Ivens. Just as one example of its failure, I couldn't figure out how to set up sales tax payments for my business and the Missing Manual had no information about this complicated subject (in my state, businesses have to report on a county-by-county basis, with different rates for many counties). The Official Guide walked me through all the steps, very clearly, making it very easy. ... Read more

Book Description

What if there were a way an owner of a private company could:

• Sell stock of the company, pay no tax on the proceeds, and still keep control?
• Increase the company’s working capital and cash flow with no cash expenditure?
• Provide employees with equity at no cash outlay on anyone’s part?
• Make life insurance premiums tax deductible?
• Increase productivity, profitability, and company value with no cash outlay?
• Allow the corporation to operate in a totally tax-free environment?

An ESOP-- Employee Stock Ownership Plan-- does all that and it does it with the sanction and encouragement of the United States Congress.

ESOP: The Ultimate Instrument in Succession Planning, Second Edition is a comprehensive yet easy-to-understand guide emphasizing the corporate financial benefits that an employee stock ownership plan can offer as a business financing instrument. Written by noted expert Robert Frisch and updated to include the latest developments, this book explains in clear language ESOPs work and how owners of private corporations can use them as versatile financial tools to achieve their succession planning objectives. ... Read more

Reviews (6)

Best book on the subject
I consistently buy this book to distribute to participants in my company's credit training seminars. I have used the previous edition and this newest edition, both of which are very informative and easy to read. To the author... Great Job!

Filled some gaps for me
Though rudimentary, this book filled some gaps for me left by more advanced texts, including some definitions that I was fuzzy on, and enlightened me as to why some things are on financial statements in the form they're in, since I don't have a business education background.

The CD contains the text, which is handy on a laptop, but marred by having the text superimposed on a busy patterned background that has some kind of periodic highlights that are particularly annoying (the current generation of magazine, book and web site designers can't seem to grasp that the point of text is to be read, and that stuff that looks nifty on the computer screen may be darn near impossible to read in print; busy photo backgrounds, light text on dark backgrounds etc. belong ONLY in ads, where no one is expected to read the text anyway.)

Also, the spreadsheets would have been more useful if incorporated in groups into workbooks instead of individual ones. You can't readily get numbers from one to another. And the disk titles are of the "sheet23.xls" variety, not helpful for finding the one you want, so you have to either have the book listing handy or access them strictly from the CD PDF file text.

Being used to technical book web sites that contain errata, new material, suggestions from users, etc., I was disappointed to find nothing new there. And the list of web links, as usual in this fast-changing world, contains a number of missing links. I would have appreciated a good old fashioned bibliography in addition to the links, because you can usually find out of print books through a library, used dealers on the web, and most really important books and texts have current editions.

Please Note
I am the author. I would like to point out that the reviews that appear here, which are dated prior to May 2002, are for the previous edition. In this new Third Edition, I have worked hard to take this top-selling, clearly written book, and add content in many areas to provide more depth to the book. There are six new chapters covering tax concepts, capital structure, business plans, working capital and banking relationshsips, accountability and control, and personal finances. In addition many other chapters have been siginficantly modified and or supplemented with new information. I hope you enjoy my book.

Good general introduction to F&A
If you want a very basic introduction into the world of finance and accounting, this book may be for you. I was a little disappointed at the lack of depth, though.

Weak
Overall it was ok, but I feel the author missed some very important highlights. ... Read more

Book Description

Over 100,000 copies in Print
LARRY BURKETT
The Complete Financial Guide for Young Couples
A Lifetime Approach to Spending, Saving, and Investing


Now in paperback!
• Can we ever afford to buy a house?
• Is it wrong to borrow this much money?
• Which of us should be the record keeper?
• Are credit cards a no-no?
• Do we really need life insurance?
• Why is it we never seem to have enough?

Questions like these can keep you awake at night-or worse. Without a solid financial and spiritual foundation on which to base sound decisions, problems-and not just money problems-tend to multiply in a marriage. And they come whether you're struggling on $20,000 a year or "coasting" on a six-figure income.

Whether you are about to marry or are still in marriage's early years, best-selling author Larry Burkett can steer you around the pitfalls that result from mishandling your money. In this valuable guide he will help you:

• Establish a workable budget
• Discover what kind of insurance you need and how much
• Teach your children about finances
• Diagnose economic danger signs in your marriage
• Explore different types of investments and decide which are best for you and much, much more.

Solid biblical direction, practical advice, and years of "field-testing" make this a book that won't gather dust on your shelf!

Larry Burkett is the founder and president of Christian Financial Concepts in Gainesville, Georgia, a nonprofit organization that specializes in teaching Christians biblical principles for managing money. The host of two daily radio programs, "How to Manage Your Money" and "Money Matters," Larry has written numerous books on finances, including Investing for the Future, The Complete Financial Guide for Single Parents, The Coming Economic Earthquake, and Preparing for Retirement.

... Read more

Reviews (14)

A helpful guide for anyone, not just young couples.
This has been a very helpful book for my husband and I. We are a couple in our mid twenties, and not in financial trouble, but wanted to learn better money skills. the information in this book is easy to understand, and realistic. You don't have to be a rocket scientist to figure out the suggested ways to budget. Thanks Larry Burkett!

Practical financial guidelines to apply before you wed
It is a scary thought that most marriages that end up in divorce do so over financial concerns. Larry Burkett's book shows the clear value of managing your money in your marriage. He sites many examples from consulting where families were unprepared for financial situations that arose in their lives (for example, purchasing a home based upon on two incomes and then one of them becomes pregnant ...). Other examples include communication breakdown and unrealistic expenditure patterns. Most importantly, Mr. Burkett emphasizes the use of a budget in order to avoid these pitfalls and take teh stress out of your marriage.

I found the book to be a simple and interesting read. There are many practical guidelines about establishing a budget. The percentages in the proposed budget are backed up with numbers and consultation experience. You can modify the budget to fit your own needs. There is also a lot of discussion about debt reduction.

My wife and I read this book about 6 months prior to our wedding; it allowed us time to put into practice the very principles of good money management that Mr. Burkett teaches. Now these ideas are second nature and easily implimented into our marriage. Our finances are under control and do not control us!

One of the Best!!!
Larry Burkett's advice cannot be highly stated enough. He has solid biblical direction, practical advice, and years of "field testing," making this a book which won't gather dust on your bookshelf.

He explores many topics, such as being able to buy a car or house; as well as is it wrong to borrow large amounts of cash. He also explores credit cards and life insurance, as well as the standards, such as budgets, teaching your children about financial principles, and seeing ahead towards economic trends and dangers.

For a good and practical read which can be applied to any situation, a great resource!!!

Interesting information, practical steps
I really liked reading this book, Larry Burkett gives solid, down-to-earth information about how a young couple can make good financial decisions early on to prevent big problems down the way. While his whole book is not necessarily applicable to everyone (most young couples in expensive real estate areas will NEVER be able to buy a house with no debt or mortgage), much of it is very useful. Highly recommended.

Warning: Extremely Religious and Conservative
Did you know that health insurance is Satan's way of tricking us into sinning (by shifting the responsibility to pay your medical costs onto someone else)? Did you know that you should pray to make major decisions such as 'should I buy a house or stay in my apartment?' Did you know that no one on earth is responsible enough to have and use credit cards? Did you know that you should never make long-term financial plans based on the wife's salary because women inevitably go and get themselves pregnant to louse things up? Those are the most memorable bits of wisdom I found in this book. I am not a religious person, and if the financial advice in this book was what I consider to be useful and sound, I wouldn't mind. But if you (A.) don't have a denial problem in which you think 'God will take care of it' (and realize you need to take responsibility for your own financial success) or (B.) handle your credit cards and their related debt responsibly, then you do not need this book. This has none of the relationship advice I was looking for. I have had much better success with plain old financial books, such as "Get a Financial Life." ... Read more

Book Description

Practical examples of all important concepts and procedures enrich this clear, logical, and popular guide to financial accounting. This new edition updates material about cash flows and accounting rules and includes new information about accounting software, payroll accounting and federal income taxes. The hundreds of problems with step-by-step solutions prepare students for success with everyday practice and with the CPA exam. Typical exam questions with answers help students measure their comprehension and progress.

Reviews (1)

Good Investment
I bought this book to complement a senior level financial accounting course that I was took. The book is concise, provides plenty of examples, and helps to solidify theories & actual practices of financial accounting. There's also plenty of exercises to go through to help solidify your practical understanding of the material. I found that it was particulary useful to help me review & brush up before my tests in my financial accounting course. Overall a good investment. ... Read more

Book Description

Nonprofit organizations are subject to complex sets of regulations that reflect the diverse organizations that are covered under these rules: charitable organizations, social welfare organizations, memberships organizations, advocacy groups, and many more.

Nonprofit accounting is especially difficult in the areas of fund accounting, cash vs. accrual accounting, transfers and appropriations, treatment of fixed assets and contributions, pledges, and non-cash contributions.

This core volume (ISBN 0-471-38039-3) is supplemented annually. ... Read more

Reviews (3)

midnight accounting help
Sometimes you may be serving on the board of a nonprofit group and discover that your funder requires GAAP. Well what is that. This book will help you understand the nonprofit world of accounting. This work has been a resource that I have turned to at midnight myself aand have recommended many times. At times it is a little technical. But it helps to use some "accounting" language in the next board or committee meeting that you will be discussing budgets or finalcial presentatons.

Also, I have used this as a guideline when I consulted a small group that needed help with internal controls.

This book is very valuable for Not-For-Profit Organizations
I felt this book was basically well written. It at times is a little too technical, but basically is easy to follow. I do find it an invaluable tool for reference information in the not-for-profit industry.

It is helpful to me.
It was lucky to find this book. I'm a college student. I am preparing to take a AICPA exam. The library of my college doesn't have enough books about Not-for-Profit Organization accounting. This book gives me friendly and detailed explanations. well, a shortness of this book is a tedious text, such as one color text, no graphic figures. I just worried about objective judgements, because I didn't study other Not-fot-Profit books. Anyway, this book makes me come to Not-for-Profit accounting more closely. I'd like to recommend this book. ... Read more

Book Description

How to cut through the public relations jargon and analyze a company's financial health and future prospects as it's spelled out in an annual report. Sound advice for non-expert investors in the stock market. New topics covered and explained in this edition include annual reports on the Internet, materiality, and financial derivatives. Titles in the easy-to-understand Business Keys series are directed at consumers and non-professionals, with advice on saving, investing, protecting assets, and increasing wealth through prudent money management. The books define terms, cut through business jargon, speak in plain language, and take the mystery out of business. ... Read more

Reviews (4)

Succinct and Informative
This book is very succinct and the explanations for each accounting concepts are very easy to understand and easy to remember. The "Red Flags" after each concept are very useful in pointing out all the possible problems that may arise. While the strengths of this book is his conciseness, it does require you to have some basic accounting background. Otherwise, some of the explanations may seem confusing. Having said that, if i am reading an annual report, I would definitely want to have this book beside me. Happy reading!

Great Little Book To Help You Understand Financial Reports



"Keys To Reading An Annual Report" by George Thomas Friedlob and Ralph E. Welton is a wonderful, little book for all investors. Each of the fifty, three-or-four-page sections covers a key concept that investors should understand when reading a public company's annual report and other financial statements.

"Keys To Reading An Annual Report" is no substitute for a complete text about financial statement analysis, such as "The Analysis And Use of Financial Statements," but "Keys To Reading An Annual Report" is an excellent first read for new investors who are learning to understand financial statements. And, experienced readers of annual reports will probably find this book a useful review.

Some of the fifty key topics covered include:

--SEC Forms 10-K, 10-Q, and the 8-K
--Current Assets
--Cash and Receivables
--Cost of Goods Sold and Inventories
--Property, Plant, and Equipment
--Depreciation
--Intangibles and Other Assets
--Depletion and Amortization
--Current Liabilities
--Bonds and Amortization
--Owner's Equity
--Classes of Stock
--Treasury Stock
--Discontinued Operations
--Ratio Analysis
--Taxes and Tax Deferrals

Many of the topics "Red Flag" things to which investors should pay special attention. For example, the chapter about Depreciation Red Flags: "The basis for long-lived asset valuation is historical cost. Because depreciation does not measure actual decline in value, the net book value of a long-lived asset (historical cost - accumulated depreciation) is not a good measure of the cost of replacing the asset. Neither is net book value a good measure of what the asset would bring if sold." (i.e., depreciation expense is a way of expensing the long-lived asset. And, the balance sheet only lists the so-called "unexpired cost.")

The red flag also discusses the difficulty in comparing depreciation across different companies because of the different ways depreciation may be computed.

The section about Treasury Stock tells us: "Stock Issued by a company may later be reacquired by the company. In some cases, the company may retire or cancel this stock. When reacquired stock is not retired or canceled, it is referred to as treasury stock." (there is a nice glossary at the end of the book.).

Friedlob and Welton point out that treasury stock is not an asset. "A company cannot create an asset by holding stock in itself."

However, because the reacquired stock may have been reacquired at a different price than it was originally issued, the wealth within the company can change in such a treasury stock transaction. For example, suppose stock is issued for $20 per share, but reacquired for $2 per share (it's an internet company!), then, somehow, the company has taken in $18 per share on the transaction. How is this accounted for in the financial statements?

Friedlob and Welton explain: "Just as treasury stock is not an asset, a loss or gain cannot result from treasury stock transactions. 'Things' happen that you and I would call a 'loss' (reacquiring treasury stock for $20 per share and later reissuing it for $12) or a 'gain' (reacquiring treasury stock for $30 per share and later reissuing it for $40). But it is illegal for a company to produce a gain or loss transacting in its own stock. When total stockholder's equity is decreased by treasury stock transactions (a loss), the decrease is generally taken directly from retained earnings. No loss is taken... When total stockholder's equity is increased by treasury stock transactions (a gain), the increase is recorded as a separate source of capital called Paid-In Capital from Treasury Stock Transactions."

So, by reading a little, two-page section about treasury stock in Keys To Reading An Annual Report, you probably now know more than 99% of all investors know about treasury stock!

"...If you are new to investing, you might also want to pick up a copy of Barron's "Keys To Investing In Common Stocks," which is an excellent first read for investors.

Peter Hupalo, Author of "Becoming An Investor"

Keys to Reading an Annual Report
This small manual concisely and succinctly presents the major elements of financial statements in easy to read, line-by-line format. It is not only ideal for the average investor without an accounting background, but also for the accountant who needs to explain financial statement concepts and presentations to others. Its examples are easy to relate to and quite illustrative. I regret this wasn't available when I tried to decipher "Accounting 101".

A CUT ABOVE ONE OF MY FINANCE COURSES
Even thought this book is five years old, the information still applies to the year 2000. As a person who now works iin finance, I know that detail is extremely important. This book certainly does its job by being very detail oriented. I graduated froom a very pretigious business school in which finance is actually the best subject taught, and I have to admit I think this little guide puts many pricey finance/accounting and finance professors to shame. It's also probably a good little guide for kids as well, to give them a headstart in the world of finance. ... 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

"A must-read for any investor serious about knowing what they own. With the help of some of the best financial detectives, Michelle Leder provides a roadmap for delving beneath the surface –– where most investors dare not tread."
–Herb Greenberg, Columnist, TheStreet.com and Fortune magazine

"Obfuscators beware! Michelle Leder has cracked the code. In this invaluable guide to combing the footnotes of financial statements for indicators of accounting tricks and attempts to hide the bad news needles in a haystack of numbers. This is a clear, sensible, and, above all, practical guide that will be indispensable for anyone who invests in, does business with, or works for a corporation."
–Nell Minow, Editor, The Corporate Library

"Too many companies would prefer that you not read the footnotes," observes former SEC chairman Arthur Levitt. "That should be incentive enough to delve into them." In fact, not only do companies prefer you ignore the details they are required to report–the pesky particulars on exactly how they account for those whopping earnings–they take calculated steps to make this information as hard as possible to understand. But for those who know how to look, the facts that predict a company’s true prospects are usually hidden in plain sight.

Financial Fine Print gives you the tools you need to break down annual reports and SEC filings, make sense of the deliberately cryptic language of footnotes, and get the real goods on a potential investment.

To make money in today’s tough market, investors have to make deliberate, well-researched choices. To do this requires not only having the right information, but also knowing how to decode it. With their obscuring tactics, companies won’t help you any. So be advised: those who would help themselves–and expect to profit–should get down to the nitty-gritty of Financial Fine Print. ... Read more

Reviews (14)

A classic update to Quality of Earnings!
If you're the type of investor who loved Quality of Earnings, this is a must read! It's smart and sophisticated, yet easily understandable for even novice investors. By explaining in vivid detail the different "red flags" that investors need to be wary of, the author, who writes from the point-of-view of the average investor, makes her points clearly and concisely.

What's particularly charming about this book, when compared with some of the other accounting-related books out there, is that you don't have to be a CPA or have an MBA or some other advanced degree to understand this book. Yet, the book is sophisticated enough to also be appealing to people who do.

I can't help but wonder now, as proxy and annual report season gets underway, how many investors would find this book incredibly useful. The chapter on related party transactions, which is cleverly titled All in the Family, is worth the book's price alone. For any investor who picks or invests in individual stocks, this is truly a must read!

A polygraph for financial statements and corporate reports
In the aftermath of the corporate accounting scandals, it's hard to know what companies to trust enough to put your money behind them. Financial Fine Print has helped me research companies much more thoroughly. By showing me step-by-step methods to dissect the footnotes in the corporations' financial statements and annual reports, I've learned where all of the unflattering yet legally accountable information is usually hidden in order to make better decisions. I heartily recommend this book for any savvy investor who is unwilling to invest in a company without having personally researched it first.

Highly Recommended
Hard to believe that a financial how-to-book like this would be a page
turner. But, I thoroughly enjoyed this easy-to-read, timely and well
written book.

Leder's tactics and strategies for lay investors are
invaluable. She provides the insight and perspective of a professional
analyst.

"Bottom Line" a book well worth the investment.

An individual investors' best friend
The investment club that I'm in wound up losing a lot of money on Healthsouth, so we've been very cautious over the past year. But with the market rising, we know that all of this caution has wound up costing us money. Luckily, one of our members received Financial Fine Print as a Christmas present this year. Over the past month or so, this book -- now dog-eared -- has made its way to all 15 of us and we now feel as if we're better investors as a result. I finally decided to buy my own copy because I think it's one of the best books available for individual investors who are looking to do their own research on stocks. There's so many great examples of the sorts of things companies try to hide from their investors in their SEC filings -- information investors need to have before they put their money on the line.

One of the things our group has done over the past month is to go back and look at Healthsouth's SEC filings to see if we would have made the same mistakes. Now armed with Ms. Leder's expert advice, we found numerous "red flags" that would have prompted us to sell the stock before Healthsouth's problems became so apparent. Yes, hindsight is always 20-20, so it's easy to say that now. But we all still feel that we've learned so much from this book that we can now invest with a lot more confidence, instead of being pre-occupied with the fear that we're buying another company that's much more interested in enriching its executives at the expense of their shareholders.

Most of the other accounting-related books our group has read -- and we've read a bunch -- all seem to be aimed at a professional audience and can be a bit dry unless you're the type of person who thinks FASB is fascinating. Not this book. Using easy to understand language and examples that help you put the complicated accounting into perspective, this excellent book is an individual investor's best friend!

Financial Fineprint
Is there any way an ordinary investor can protect themselves from shady corporate accounting? YES!! Michelle Leder's book Financial Fineprint has given me the tools to become a better investor.

Not only does she do an excellent job of breaking down annual reports and SEC filings in a very organized and clearly written manner , she also provides an invaluable service by guiding the reader through the footnotes of financial statements, pointing out indicators of accounting tricks and obscuring tactics. Ms. Leder gives the average investor the means to find out for themselves about the companies they invest with. I can now spot those Inflated profits, questionable related party transactions, hidden expenses, etc., before I decide to buy a particular stock.

This book is not simply a "How to" book, however, as it is written in a more narrative and reader friendly style, with personal accounts and fun annecdotes.

I highly reccomend this book for anyone who wants to have as much knowledge at their fingertips as possible before making important financial decisions. ... Read more

Book Description

Financial Statement Analysis, 8e, by emphasizing effective analysis and decision making, gives readers a competitive advantage in analyzing financial statements in an increasingly competitive market.Financial Statement Analysis, 8e, continues to set the standard (over 7 prior editions) in showing students the keys to effective financial statement analysis - including both accounting analysis (part II) and financial analysis (part III).The book is appropriate for students with broad business interests, as well as those who are majoring in accounting and finance as it clearly shows the relevance of financial statement analysis to all business decision makers.The authors apply 3 important criteria in their writing: (i) Make it relevant; (ii) Draw inferences for business decisions; and (iii) Make it accessible and interesting.In addition, the authors:

1. Use numerous and current "real world" examples

2. Focus on analysis while describing current reporting requirements

3. Apply a concise/succinct writing style

4. Explain securities valuation using financial statement analysis ... Read more

Reviews (5)

Best Financial Statement "Analysis" Book Out There
This book is exactly what it is titled. It is written for the equity analyst, to educate on how to analyze sophisticated financial statements. It is not written for an average investor or anyone not in this line of work. It is a textbook, not a paperback "how to invest" publication. Students with minimal accounting and finance experience should stay away. If, however, you are a finance professional looking to improve your ability to interpret (not create) financial statements, this book is the best available that I have seen. It segregates analysis into areas such as short-term liquidity, cash flow (using FAS 95), capital structure, return on investment, asset utilization, operating performance, etc., -and- how to meld these areas of analysis to uncover strengths and red flags. Again, this book is not for amateurs or even accountants. It is for current or aspiring professional analysts.

Not for dummies
Detailed, comprehensive review of basic and more advanced topics in accounting and finance. Best suited for graduate level studies, and for students completed the beginner-level classes in financial accounting.
This book is not self-explanatory and induces students to think analytically. It is not aimed at those who simply want to know, but those who try to understand, those who try to get to the root of the issues.
If you don't mind to read the same chapter a few times, and willing to spend long hours working on problems you will find this book very rewarding. It will not only provide you with current developments in accounting, but it will teach you to think like financial analyst.
I won't recommend using this book without an instructor, or at very least a solution's manual.

good intermediate text - should be updated
a good book...not for beginners...requires good fundamental understanding and appreciation of corporate finance.
Positives - good explanations of concepts; detailed examples; very good presentation
Deltas - cost;

Worthless book...
In my opinion this book does not provide any guidance or comprehension for the student. it is not easy to understand the complicated equations - most of which do not apply to companies in the Gulf. the chapters are long and useless in the course of understand the topics. the problems and exercises are comprehensive but there are no answers at the end of the book to guide the student to the right answer. Due to the fact that the professor doesn't find the book comprehendible he just read the slides to us and left our questions unattended. In conclusion, this book is worthless to any business student and doesn't even deserve a one-star rating.

Not great for learning basics
Unless you have a strong understanding of corporate finance, do not start off your financial statement analysis learning with this book. It is very text heavy and the concepts are drawn out far too long and as such, the book is very hard to follow. I don't consider myself a simple student either - I have a solid business background but this book confused both my class and my professor, who was using it for the first time (and vowed never to use it again). In summary, I really don't recommend this book at all unless you already have a solid background in finance and even then, you can def. find much better books for the money. ... Read more

Book Description

CORPORATE FINANCIAL REPORTING is written for students who require an understanding of financial accounting and reporting issues, problems, and practices.It is appropriate for the second financial accounting course at the MBA level, often called Corporate Financial Reporting.This text is also appropriate for schools that offer a one semester Intermediate accounting course, at the undergraduate level, for Finance majors. Careful consideration is given to the management aspects associated with various financial reporting issues.Chapters blend issues, concepts, standards and stakeholder interests to convey the complexities, controversies and uncertainties inherent in the financial reporting process. ... Read more

Reviews (2)

Great Fun to Teach
Here is a secret: the study or practice or accounting may be tedious, but the teaching of accounting is fun. It's about money, power, greed, betrayal -- what's not to like? More particularly, it is one of those courses where students come in bearing such low expectations thaqt their only surprises will be pleasant.

Of all the accounting materials I've been exposed to, none is more fun to teach than this book by Brownlee, Ferris and Haskins. There is an introductory chaper of nuts and bolts. But then, the bulk of the book is made up of case studies in accounting analysis. With bright students (I use it with second- or third-year law students), you can do a whole course from the standing start.

Whenever I teach accounting, I tend to treat it as a "fraud" course--try to find the gimmick. In general, students are uncomfortable with the approach. They tend to think of accountants as nice people and their a not always happy with my seeming cynicism. Post-Enron (and WorldComm, and Adelphia, and Parmalat, etc. etc., etc.), I am tempted to call up all my former students and say -- "See? I was right all along." Meanwhile, it is wonderful to watch the student puzzle over a Brownlee problem and then say (as if with a flash of insight) -- "But that's wrong!" And of course the answer is: "That's why it's in the book."

An excellent book.
This is an extremely well-written and thoughtful book. The authors take a highly practical and rigorous look at accounting as used in practice by publicly-traded companies. It is an effective integration of accounting principles and real-world financial statement analysis -- helps the reader develop a sense of what is aggressive, what is conservative, etc., and what critical issues are discernible but not immediately obvious from a routine examination of financial statements. A good read for would-be Ben Inkers. For a more basic introduction to accounting, check out books by Robert Anthony. ... Read more

Book Description

Everything you need to know to succeed in today's fastest growing sector of the consulting market.

Jim Ainsworth is an extremely successful financial planning professional with more than 30 years in the business. In How to Become a Successful Financial Consultant, he tells you everything you need to know to move into financial consulting. He familiarizes you with all the types of planning that financial consultants deal with, as well as the various investment vehicles. And, based on his own experiences and those of other successful financial consultants across the nation, he supplies you with a proven blueprint for success. You get expert advice, guidance, and insiders' tips on how to:

• Get the education, experience, and licensing you need to qualify.
• Get certified (and whether you need to).
• Develop a surefire success plan.
• Set up a practice and attract clients.
• Network, market, and sell your services.
• Set fees and collect other forms of compensation for your services.
• Avoid the 10 most common mistakes that beginners make.
• Get the most out of meetings and professional conferences.

Written by Jim Ainsworth, a financial planning professional with 30 years in the business, this valuable guide provides professionals interested in making the move into financial consulting with everything they need to know to make a living investing other people's money.

Drawing on his personal experiences and those of colleagues across North America, Ainsworth covers all the bases. He begins by describing the three major groups of financial planners and the seven different styles of asset management and helps you to decide which is right for you. You find out all about the various types of financial planning that most consultants deal with—including estate planning, retirement planning, and family financial planning—and the best investment vehicles currently available.

Ainsworth then cuts to the chase and provides the nuts-and-bolts information you need to make it as a financial adviser. Writing in a down-to-earth style, he tells you what type of education and experience you need to become an effective financial consultant, how to become licensed, how to get started in business, how to set fees and receive compensation, how to market your services and promote different financial instruments, and much more. He shows you how to develop a surefire success plan, and he supplies expert advice and guidance on how to avoid the top 10 beginners' mistakes.

Throughout this book, Ainsworth advocates taking a holistic approach to financial planning—one that takes into consideration not just people's differing needs, but their contrasting attitudes about money and investments. To that end, he provides insightful profiles of the different types of "money personalities" in the financial world and shows you how to identify and successfully work with each type.

How to Become a Successful Financial Consultant is your complete guide to making it in today's fastest growing sector of the consulting market. ... Read more

Reviews (8)

Getting Started-*
*A good book of guidelines for the undecided about becoming a financial consultant, planner?

Starting out? READ THIS BOOK!
The author's background is a small town CPA, which may account for his no BS approach. Simple (not simplistic) straightforward solid advice for anyone wishing to start a financial advisory practice.

I'm have a CPA background and obtained my CFP several years ago, but never practiced financial planning, other than a brief foray working with an insurance company, which was an excercise in high pressure selling. Ugh! I wish I had this book back then!

A good book, except for the writing
Jim Ainsworth clearly demonstrates his extensive financial consulting experience throughout this book. Much of the information is valuable, and it covers the important beginners' range of knowledge effectively. However, his 'down to earth' style is not only irritating, it actually makes the book painful to read. Good written English is not always the same as good spoken English. Surely the man is a succesful financial consultant, but that doesn't make him a good writer. It just goes to show that in a hot, growing industry like financial consulting a book written by a 'qualified' author will sell even if it is poorly written.

Must read for all investigating a financial planning career.
You're in mid-career and you're investigating a switch to the new industry of financial services. You know a few people in the industry but are looking for some good sources of comprehensive information. This is it.

Jim Ainsworth lays it all out. If you want to know what to expect, this is it. Get the book, you won't regret it.

A great guide for those considering financial planning.
I read this book my senior year in college. I had known for a few years that I wanted to be a financial planner, but I had many unanswered questions. This book kept it simple and answered all the questions I had. This is a definite must read for anyone considering a career in financial planning. Hopefully I can use the wisdom in this book to establish a successful financial consulting practice. Thank you Mr. Ainsworth! ... Read more

Book Description

Essential guidelines for the implementation of SFAS No. 141 and SFAS No. 142 for financial executives, CPAs, and valuation practitioners

Valuation for Financial Reporting: Intangible Assets, Goodwill, and Impairment Analysis provides guidance and insight in the identification, measurement, and management of intangible assets and goodwill pursuant to the Financial Accounting Standards Board Statements of Financial Accounting Standards (SFAS) No. 141, Business Combinations, and No. 142, Goodwill and Other Intangible Assets.This essential guide:

• Shows practitioners and clients how to apply the SFAS No. 141 rules for valuing and recording the assets acquired
• Teaches practitioners and clients how to apply the SFAS No. 142 rules for measuring subsequent goodwill impairment
• Presents detailed case studies and examples of applying and implementing SFAS Nos. 141 and 142
• Provides "How To" guidance for the identification, measurement, and management of intangible assets
• Includes checklists for controlling the gathering of data necessary for the analyses and for guiding the valuation work program
• Offers guidance for and examples of financial reporting disclosures

Valuation for Financial Reporting proves a one-stop, must-have guide for CPAs and valuation practitioners with clients who need to comply with SFAS Nos. 141 and 142. ... Read more

Reviews (2)

A must read on SFAS 141 and 142
If you need to comply with SFAS 141 and 142, you will want to read this book. The authors understand these standards inside and out. The book's coverage is practical, thorough and written in easy to understand language (which is important because the changes outlined in SFAS 141 and 142 are far reaching and complex.) The best part of this book is that in addition to providing compliance guidance for SFAS 141 & 142, it also shows you how to apply the standards. This is key! I also found the book helpful on showing me how to identify and value intagible assests which is still a somewhatnew area for me.

Great coverage of new SFAS 141 and 142
This is timely and excellent coverage of SFAS 141 and 142. The authors' explanation are clear and complete. I would recommend this book to everyone involved in valuation. ... Read more

Book Description

Take control of your organization’s short- and long-term financial plan

The trend toward decentralizing decision-making powers in not-for-profit organizations means a greater number of employees are responsible for creating and managing the annual budget.Budgets, therefore, must be well designed, easy to implement, and accessible to professionals from a variety of backgrounds. Wishful thinking? Not any more. Continuous budgeting, as explained in Edward McMillan’s trenchant Not-for-Profit Budgeting and Financial Management, offers a system that is not only easy to use and monitor, but also ensures true fiscal accountability in the complex not-for-profit arena.

Continuous budgeting breaks down time-consuming annual budgeting processes into twelve easy-to-manage increments that produce more accurate and effective resource allocation. In this handy guide, the author explains how to:

• Separate controllable, semi-controllable, and fixed expenses
• Take corrective actions during the year to offset budget shortfalls
• Define the roles of the CEO, CFO, the staff, and volunteer leaders
• Establish expense reduction plans before they are needed
• Prepare and present such top-notch budget documents that budgets will be approved the first time

McMillan writes in a nontechnical, understandable, how-to language and format, incorporating dozens of relevant forms and documents. This completely revised and expanded edition also includes all-new material on long-term financial planning, so that not-for-profits can work toward liberating themselves from the year-to-year scramble for increasingly scarce resources.

Not-for-profit managers must be able to direct and control their resource allocation rather than be controlled by outdated, cumbersome, and inaccurate budgeting processes. Not-for-Profit Budgeting and Financial Management, and its powerful system of continuous budgeting, enables all not-for-profit professionals to create and manage reasonable financial plans that fit their organization’s needs. ... Read more

Book Description

Navigate A Sea of Financial Complexity

Due to the intricacies of contemporary business transactions, the numerous standards issued by the Financial Accounting Standards Board (FASB), and the vast variety of accounting and disclosure practices with their ever-changing terminology employed by reporting companies, financial statements and related disclosures have become very complex. This complexity can impede the work performed and the decisions reached by all users of financial statements–especially equity and credit analysts. Guide to Financial Reporting and Analysis is designed to remedy this situation by offering practical, user-friendly guidance. Through the use of contemporary financial statement examples, extant generally accepted accounting principles are explained and their application is demonstrated. Here are indispensable resources, including:

• Comprehensive, point-by-point summaries and glossaries provided with each chapter
• Hundreds of examples of contemporary financial disclosures taken from actual, highly recognizable companies
• Thorough information on how reporting and disclosure rules impact reporting practices–and the implications these practices have for analysis
• Goes beyond anecdotes and integrates throughout relevant findings from the financial reporting and analysis research literature

. . . and much more, to help working professionals gain clarity and begin making better-informed decisions today by taking advantage of the rich treatment offered in this timely, much-needed guide. ... Read more

Reviews (3)

Financial statements come to life with Comiskey and Mulford!
Have you ever wondered why the accountants' eyes glow when they see a financial statement? They're not wierd (after all), they're just wired differently. This book will change the way you feel about financial statements. I no longer am scared of deferred income taxes, LIFO reserves, restructuring charges, footnotes, and all those irritating financial details which I routinely ignored and hoped did not matter. I'm re-wired for my own good.

Required reading for the serious financial analyst
This book provides the most clear and thorough guide to understanding financial statements I have seen. This is not for the faint of heart; understanding financial reporting at this level requires persistence and a willingness to work through some complex issues. However, at the end of the day Comiskey and Mulford leave diligent readers with the analytical tools to see beyond accounting conventions and grasp the underlying economic reality of a firm's performance.

The value of the book is best illustrated in the numerous examples the authors provide using financial statements and footnotes from public companies. Along the way they deal with some timely issues and Comiskey and Mulford should be applauded for keeping their work relevant by staying current on continuously evolving areas such as accounting for derivatives and issues surrounding technology companies.

Very similar to Financial Warnings, more indepth
This book is very similar to the previous book (Financial Warnings) by both authors. It is more indepth than its previous predesessor. I find the Financial Warnings to be better because it has more examples. (May be since I know the content of the previous book, this is like redundant.) Anyway, I would recommend you to buy this book. ... Read more

Book Description

Business ratios are the guiding stars by which you steer your company's course; they provide your targets and your standards; they direct you towards the best long-term strategies as well as the smartest short-term solutions. You can't afford to leave them to the accountants. In Key Management Ratios, Third Edition, top financial educator Cieran Walsh teaches you everything you need to knowabout ratios to manage your business far more effectively. This book's thoroughly updated coverage includes: financial statements, balance sheets, and P&Ls; measures and drivers of operating performance; corporate liquidity, financial strength, and cash flow; determinants of corporate value; cost,volume, and price relationships; investment ratios, acquisition analysis, and Shareholder Value-Added (SVA). Simply put, Cieran Walsh enables you to link your company's financial fundamentals to its day-to-day operations--so you can make smarter decisions based on better information. ... Read more

Reviews (2)

Very insightful! A definite MUST for business exec & MBAs
After working under finance for more than 10 years and graduated with both a bachelor's degree in Accounting and MBA in Finance, I have never come across a better book on financial ratios and analysis than this. What Ciaran Walsh wrote here is a classic - his approach has been very illuminating yet simple. Unlike other supposedly-easy-to-use ratio books written by CPAs and PhDs for the non-financial public, Ciaran explains the intracacies of the Balance Sheet, Income and Cash Flow statements in an easy-to-understand language, step-by-step with clear examples. I am sure business people who lack the knowledge in accounting or finance will find this invaluable. Another great feature of this book is that it includes industry-wide benchmark ratio figures for UK, USA, Japanese, etc companies for comparison. This will be especially useful for would-be MBAs, etc in their financial (and to some extent strategic) analysis of real-life case studies. Should be a compulsory companion book to the normal textbooks for those pursuing business or finance majors at both undergraduate and Master's level. Ciaran Walsh's masterpiece is really way ahead of the rest.........

Exceptionally well written
If ever there was an un-putdownable book in financial management, this is it.

The author has extremely clear fundamentals, and makes it very easy to follow his logic every step of the way.

The introductory chapters on accounting are the best I have come across. The industry benchmarks are extremely useful. It would be great if we had a newer edition, with updated benchmarks, and a more industry-specific break up (e.g. software)

This book is a must-have for MBAs, under-grads, managers, small business owners, and just about anyone who needs to analyze ratios. ... Read more

Book Description

"The budget and financial reporting processes are well known sources of frustration for most CFOs. Seeking a quick fix to the problem, the common solution is to pour more money into new and better software. This leaves the root cause, the inefficient and dysfunctional underlying processes and routines, unaddressed. As this book shows, substantial and sustainable improvements are only achieved through an holistic approach to process improvement, technology, strategy, and people."
–Tom Henry Knudsen
Executive Vice President, Telenor Eiendom Fornebu AS

Proven methods for improving efficiency

Corporations face a high turnover among financial managers, rapid changes in technology, lack of time and process redesign skills, and ongoing ambiguity about primary objectives behind the budgeting and financial reporting processes.Amid this frenzy, it is the fundamental efficiency of these processes that dramatically impact overall business performance. Process Improvement for Effective Budgeting and Financial Reporting provides financial managers with a compelling blueprint for increasing efficiency and eliminating waste of time and energy.Four operational experts lay out an 80/20 plan–improving 800f processes in 200f the time it would take to improve 100%–and explain a Business Process Improvement (BPI) plan that incorporates:

• The emerging trends affecting financial managers today
• Step-by-step process implementation
• Interviews with industry leaders, consultants, and managers who have successfully instituted BPI plans
• Appraisals of the available software that can help or hinder the process

There is no substitute for improved efficiency.CFOs, controllers, budget managers, and financial analysts will significantly benefit from adding this authoritative guide to their professional libraries. ... Read more