Interpreting Company Reports and Accounts

Book excerpt: Interpreting Company Reports and Accounts 9th Edition Geoffrey Holmes, Alan Sugden, Paul Gee " That it is known as ' The Analysts Bible' says much about this book. It shows how to crunch the numbers and what to look for buried in the notes to the accounts and suggests how to read reports for the signs of business turning sour."''We still love it'' 2004Investors Chronicle " The book is wholly successful in its aim of providing a guide for 'anybody with a reasonably enquiring mind' on how to take to pieces a set of company reports."Financial Times "If I wanted to give my mother a book to help her make sense of company accounts I could hardly think of a better book. For business people or potential investors ... I would say this book is ideal."Michael Thompson: University of Ulster Interpreting Company Reports and Accounts guides the reader through the conventions and complexities of company accounts, explaining how to assess the financial and trading position of a company from year to year, how to spot undue risk taking and ''cosmetic accounting'' and where to look for clues on the quality of management. Packed with interesting real world examples, this is a highly practical book which shows readers how to analyse company reports and accounts, both qualitatively and quantitatively. The analysis is illustrated with over 200 extracts/examples from published accounts, ranging from BP and DIAGEO down to smaller companies on AIM. Key Features · Key points from company accounts are highlighted and explained throughout the book.· Chapter 31: Putting it all Togethertakes readers step-by-step through the reports, accounts and press cuttings of an interesting AIM company.· The authors comment as well as inform - previous editions highlighted the serious weaknesses of both Polly Peck and Maxwell Communications Corporation well ahead of their collapse.· Very well written, engages students and brings the subject to life. New Features· A chapter detailing the differences between International and UK accounting standards, and how the ASB plans to close the gap. · New chapter on 'Accounting Practices -- Cause for Concern?' · A critique on Corporate Governance. Interpreting Company Reports and Accountsis suitable for intermediate/advanced undergraduate accounting and finance courses and for MBA courses. The book is recommended reading for several professional examinations and will also be relevant to practitioners. Geoffrey Holmes FCA, FTII was, for more than twenty years, the highly regarded and much respected Editor of Accountancy, the Journal of the Institute of Chartered Accountants. Alan Sugden is a Sloan Fellow of the London Business School and a retired director of Schroder Investment Management. He spent nearly 20 years in the City as an Analyst and fund manager, running the £100 million Schroder Recovery Fund for several years.Paul Gee BA (Econ) FCA is Technical Director of Bristol based accountants Solomon Hare, and lectures widely in the UK on financial reporting.