How to read a financial report by John A. Tracy

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By John A. Tracy

An up to date new version of the great advisor to interpreting and realizing monetary reports

Financial studies offer important details to traders, creditors, and executives. but, the monetary statements in a monetary document appear to be written in a international language that merely accountants can comprehend. This new Eighth Edition of How to learn a monetary Report breaks via that language barrier, clears away the fog, and provides a plain-English user's advisor to monetary studies. This up-to-date version beneficial properties new details at the stream towards separate monetary and accounting reporting criteria for personal businesses, the emergence of sites providing monetary info, pending alterations within the auditor's document language and what this suggests to traders, and specifications for XBRL tagging in reporting to the SEC, between different topics.

  • Makes it effortless to appreciate what monetary reviews really say
  • Updated to incorporate the newest info monetary reporting criteria and regulatory changes
  • Written through an writer crew with a mixed 50-plus years of expertise in monetary accounting

With this new version of How to learn a monetary Report, traders will locate every thing they should absolutely comprehend the revenue, money circulate, and fiscal of any business.

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Sample text

I discuss the second source of accounts payable in Chapter 7. The company’s inventory holding period is much longer than its purchase credit period (which is typical for most businesses). In other words, accounts payable are paid much sooner than inventory is sold. In this example, the company’s inventory holding period from start of the production process to final sale averages 13 weeks (as explained in Chapter 5). But the company pays its accounts payable in four weeks, on average. Some purchases are paid for quickly, to take advantage of prompt payment discounts offered by vendors.

1 in one gulp. You have to drink one sip at a time. indd 23 23 3/2/09 10:25:18 AM as the road map that we’ll refer to frequently in the following chapters—so that we don’t lose sight of the big picture as we travel down the particular highways of connection between the financial statements. 1. indd 24 never see such tether lines between the components of the financial statements. 1. Accountants assume too much, in my opinion. It would be helpful if financial reports included reminders of the connections among the three financial statements.

1 that the company’s ending inventory balance is $8,450,000. The main point is that the average inventory holding period determines the size of inventory relative to annual cost of goods sold. The longer the manufacturing and warehouse holding period, the larger is the inventory amount. Business managers prefer to operate with the lowest level of inventory possible, without causing lost sales due to products being out of stock when customers want to buy them. A business invests substantial capital in inventory.

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