Financial statement analysis: theory, application, and interpretation
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| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Homewood, Ill.
Irwin
1993
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| Edition: | 5. ed. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XXVII, 1075 S. |
| ISBN: | 0256102236 |
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| 245 | 1 | 0 | |a Financial statement analysis |b theory, application, and interpretation |
| 250 | |a 5. ed. | ||
| 264 | 1 | |a Homewood, Ill. |b Irwin |c 1993 | |
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| adam_text | Contents PARTI
Financial Statement Analysis and the Accounting Framework
/
1 Objectives of Financial Statement Analysis 3
The Nature of Financial Analysis. Approaches to the Subject: Objec¬
tives of Credit Grantors, Objectives of Equity Investors. Developments
In Investment Theory: Portfolio Theory, Evaluation of Risk and Re¬
turn Categories of Risk, Components of Unsystematic Risk, The Rela¬
tionship between Accounting and Market Measures of Risk, The Capi¬
tal Asset Pricing Model, The Efficient Market Hypothesis, Implications
for Financial Statement Analysis, Objectives of Management, Objectives
of Acquisition and Merger Analysts, Objectives of Auditors, Objectives of
Other Interested Groups. Design of this Book. Conclusion. Questions.
2 Financial Statement Analysis and Accounting 27
The Function of Financial Statement Analysis: Two Major Founda¬
tions The Raw Material of Analysis. Importance of Accounting Data:
The Indispensability of Accounting Statements. Limitations of Ac¬
counting Data Monetary Expression, Simplifications and Rigidities In¬
herent in the Accounting Framework, Use of Individual Judgment, In¬
terim Nature and the Need for Estimation, Cost Balances, Unstable
Monetary Unit. The Relative Importance of Financial Statement
Analysis in the Total Decision Effort. The Function of Accounting:
The Recording Function, Financial Statements. Questions.
3 Accounting Objectives, Conventions, and Standards
Their Implications for Analysis 43
The Objectives of Accounting. The FASB Conceptual Framework. Or¬
ganization of the Conceptual Framework (CF). Implications for Analy¬
sis Accounting Principles or Standards: How Accounting Standards
Are Established Improvements in Accounting Principles Implications
for Financial Analysis. Pervasive Human Factor: The Concept of Ac¬
counting Risk. Questions.
xvii
Contents xix
Developments. Problem Loans of Banks. Tangible Fixed Assets: Asset
Valuation, Wasting Assets, Method of Acquisition, Implications for
Analysis. Intangible Assets: Identifiable Intangibles, Unidentifiable In¬
tangibles, Amortization of Intangibles, Other Considerations Regarding
the Accounting for Intangibles, Accounting for the Costs of Computer
Software, Implication for Analysis. Prepaid Expenses and Deferred
Charges: Prepaid Expenses and Deferred Charges Distinguished, Why
Costs Are Deferred, Research and Development Costs, Other Types of
Deferred Charges, Implications for Analysis. Unrecorded Intangible or
Contingent Assets. Questions.
7 Analysis of Liabilities 193
Current Liabilities. Long Term Liabilities. Extinguishment of Debt.
Implications for Analysis: Evaluation of Terms of Indebtedness. Obliga¬
tions under Leases: Accounting by Lessees, Accounting by Lessors,
Sales Type Leases, Direct Financing Leases, Operating Leases, Princi¬
pal Disclosures, Leases Involving Real Estate, Sale Leaseback, Lever¬
aged Leases. Accounting for Capital Leases: Capital versus Operating
Lease—the Effect on Income, Capital versus Operating Lease—the Effect
on Cash, Implications for Analysis. Off Balance Sheet Financing. Off
Balance Sheet Obligations. Liabilities under the Pension Plans. Recog¬
nition of Additional Pension Liability. Implications for Analysis. Pos
tretirement Benefits Other than Pensions. Implications for Analysis.
Liabilities at the Edge of Equity. Deferred Credits (Income): De¬
ferred Taxes. Implications for Analysis. Minority Interest. Reserves
and Provisions. Accounting for Contingencies. Implications for Analy¬
sis. Commitments. Financial Instruments with Off Balance Sheet
Risks. Contingent Liabilities. Implications for Analysis—Assessing Un¬
certainties. Questions.
8 Analysis of Stockholders Equity 236
The Distinction between Liability and Equity Instruments. Classifica¬
tion of Capital Stock: Disclosure Regarding Capital Stock, Additional
Capital, Treasury Stock. Retained Earnings: Dividends, Prior Period
Adjustments, Appropriations of Retained Earnings, Restrictions on Re¬
tained Earnings. Book Value per Share: Significance of Book Value.
Implications for Analysis. Questions.
9 Intercorporate Investments, Business Combinations, and
Foreign Operations 251
Intercorporate Investments: Consolidated Financial Statements, The
Equity Method, The Cost Method, Example of Difference in Income
Recognition—Equity versus Cost Method, Intercorporate Investments—
xx Contents
Less than Majority Ownership, Implications for Analysis. Implications
for Analysis. Accounting for Business Combination: Reasons for Merg¬
ers, Distortions in Accounting for Mergers, Accounting for Business
Combinations: Two Methods. Accounting for Business Combinations:
Pooling of Interests and Purchase Accounting Compared, Illustration of
Accounting Mechanics: Purchase versus Pooling of Interest Accounting,
Pooling Accounting, Purchase Accounting, Implications for Analysis.
Accounting for Goodwill—A Major Problem Area. Accounting for For¬
eign Operations: Foreign Accounting Practices and Auditing Standards,
Translation of Foreign Currencies, Evolution of the Accounting for For¬
eign Exchange Translation, Major Provisions of SEAS 52, Illustration
of the Translation Procedure, Additional Information. Analysis of
Translation Gain or Loss: Disclosure Requirements, Accounting for In¬
vestment by Parent Company, Accounting on Sale of Subsidiary, Re
measurement under the Temporal Method. Implications for Analysis.
Questions.
10 Analysis of the Income Statement—I 309
A Simple Illustration, A Variety of Concepts of Income. The Accrual of
Revenue: Conditions for Revenue Recognition, Uncertainty as to Col¬
lection of Receivables, Revenue Recognition When Right of Return Ex¬
ists, Accounting for Franchise Fee Revenue, Product Financing Arrange¬
ments, Transfers of Receivables with Recourse, Timing of Revenue
Recognition, Contract Accounting, Finance Company Accounting,
When Should the Recording of Interest Income Be Discontinued, Ac¬
counting for Lease Income, Sales to Leasing Subsidiaries, Additional
Examples of Income Recognition Problems, Income of Subsidiaries and
Affiliates, Implications for Analysis. Cost and Expense Accrual: Depre¬
ciation and Depletion, Factors Influencing the Rate of Depreciation,
Implication for Analysis. Analytical Measures of Plant Age. Misconcep¬
tions Regarding the Nature of Depreciation. Questions.
11 Analysis of the Income Statement—II 345
Pension Costs and Other Supplementary Employee Benefits: Pension
Costs, Basic Concepts of Pension Accounting. Employer s Pension Ben¬
efit Obligation. Elements of Periodic Pension Expense: Expected Re¬
turn on Plan Assets. Amortization of Unrecognized Pension Costs.
Amortization of Prior Service cost: Amortization of Net Gains or
Losses, Amortization of Unrecognized Transition Costs. Computation
of Net Periodic Pension Cost: Pension Liabilities. Required Footnote
Disclosure. Overfunded Pension Plans. Accounting for Curtailments
and Settlements of Defined Benefit Pension Plans and Termination
Benefits: Implications for Analysis. Accounting for Other Postretire
ment Employee Benefits (OPEB). Implications for Analysis. Other
Contents xxi
Supplementary Employee Benefits: Implications for Analysis. Research,
Exploration, and Development Outlays: Types of Research and Devel¬
opment, The Accounting Problem, FASB Statement 2, Implications for
Analysis, Accounting for the Costs of Computer Software, Exploration
and Development in Extractive Industries, Implications for Analysis.
Goodwill: Implications for Analysis. Other Intangible Asset Write Offs.
Interest Costs: Interest Capitalization, Implications for Analysis. In¬
come Taxes: Statement of Financial Accounting Standards, Accounting
for Income Taxes, Permanent Income Tax Differences, Temporary Dif¬
ferences, Treatment of Tax Loss Carrybacks and Carryforwards, Disclo¬
sure Requirements, Implications for Analysis, Analytical Significance of
Disclosure Requirements. Extraordinary Gains and Losses: Crosscur¬
rents of Theory—the Case of Debt Retirements, Discontinued Opera¬
tions, Implications for Analysis. Accounting Changes: Change in Ac¬
counting Principle, Change in Accounting Estimate, Change in
Reporting Entity, Correction of an Error, Materiality, Historical Sum¬
maries of Financial Information, Implications for Analysis. The In¬
come Statement—Implications for Analysis, an Overview. Questions.
12 Earnings per Share—Computation and Evaluation 404
Major Provisions oiAPB Opinion 15: Simple Capital Structure, Com¬
putation of Weighted Average of Common Shares Outstanding. Com¬
plex Capital Structure: Primary Earnings per Share, Options and War¬
rants, The Treasury Stock Method, Fully Diluted Earnings per Share.
Illustration of the Computation of Primary and Fully Diluted Earnings
per Share. Examples of EPS Computations When Business Combina¬
tions Occur: Pooling of Interests, Purchase. Restatement of Prior Pe¬
riod Earnings per Share: Illustration of Prior Period EPS Restatement,
Requirements for Additional Disclosures in Conjunction with the Pre¬
sentation of Earnings per Share Data. Implications for Analysis: State¬
ment Accounting for Changes in Earnings per Share. Questions.
13 Statements of Cash Flows 426
The Significance of Cash Flows. What Is Cash Flow? Objectives of
This Chapter. Evolution of the Accounting for Funds and Cash Flows.
SEAS 95 Statement of Cash Flows : Basis of Preparation, Classifica¬
tion Requirements, Expanded Balance Sheet Diagram, Changes within
the Noncash B Group, Simple Illustration of Preparation of Statement
of Cash Flows, Illustration oj T Account Technique. Determining Net
Cash Flow From Operations: T Accounts. Reconstruction of Transac¬
tions: The Debits and Credits Are to T Accounts and Are Needed to
Construct the SCF, Fixed Assets, Accumulated Depreciation, Bonds
Payable, Deferred Income Taxes, Capital Stock and Paid in Capital,
xxii Contents
Retained Earnings, Goodwill Amortization, Investment in Affiliate, Ac¬
counts Receivable, Inventories, Accounts Payable. Determining Cash
from Operations—Two Methods: Implications for Analysis. Conversion
from the Indirect to the Inflow Outflow Presentation: Relating Adjust¬
ments to Individual Income and Expense Items, Required Adjustments,
Compromises with Reality, Recasting the SCF to Analytically Desirable
Formats. Different Statements—Different Objectives: Further Analytical
Considerations. Cash Row—Confusion in Terminology. Implications
for Analysis: The Concept of Free Cash Flow, Other Analytical Uses.
Research into the Usefulness of Cash Flow Numbers. Appendix 13A:
Worksheets to Convert Data to Cash From Operations (Inflow Outflow
Format) and to the Analytical Statement of Cash Flows: Worksheet to
Convert Data To CFO (Inflow Outflow Format), Worksheet to Convert
Data to an Analytical Statement of Cash Flows. Improving and Adjust¬
ing the SCF Format. Appendix 13B: Analytical Reconstruction of All
Transactions. Further Analytical Implications. Questions.
14 Effects of Price Changes on Financial Statements 490
Research and Professional Pronouncements. Implications for Analysis.
Objectives of This Chapter. Accounting and Reporting Alternatives.
Two Schools of Thought: The Financial Capital Maintenance Concept,
The Physical Capital Maintenance Concept. Two Accounting Models.
Four Reporting Frameworks. Current Cost Accounting (CCA). Restate¬
ment Approach. Constant Dollar Accounting (CDA). Restatement Ap¬
proach: Illustration of Accounting for a Transaction Using Four Report¬
ing Frameworks. Implications for Analysis. Analytical Considerations
in the Use of Current Cost Accounting. Analytical Considerations in
the Use of Constant Dollar Accounting. General versus Specific Price
Changes: Monetary Gains and Losses, Effects of Inflation, Effects of
Price Level Changes on Specific Industries and Companies. Moves to
Require Market Value Data. Questions.
15 The Auditor s Opinion—Meaning and Significance 508
What the Analyst Needs to Know: Knowing the Auditor, The Auditor s
Opinion. Auditor s Report: The Scope of the Audit, The Opinion Sec¬
tion, Fair Presentation, Modification of the Opinion. Circumstances
Giving Rise to Explanatory Language, Qualifications, Disclaimers, or
Adverse Opinions. Qualifications— Except For: Adverse Opinions.
Disclaimer of Opinion: Adverse Opinions versus Disclaimers of Opin¬
ion. The Form of the Report. Limitations in the Scope of the Audit.
Failure of Financial Statements to Conform to Generally Accepted Ac¬
counting Principles. Financial Statements Subject to Unresolved
Known Uncertainties. Special Reports. Reports on Compiled and
Contents xxiii
Reviewed Financial Statements. The SEC s Important Role. Impli¬
cations for Analysis: Implications Inherent in the Audit Process, Audit
Risk and Its Implications. Implications Stemming from the Standards
that Govern the Auditor s Opinion. The Audit Function as Perceived
by the Auditor: Qualification, Disclaimers, and Adverse Opinions.
Questions.
PART III
Financial Statement Analysis—The Main Areas of Emphasis
535
16 Analysis of Short Term Liquidity 537
Significance of Short Term Liquidity. Working Capital: Current Assets,
Current Liabilities, Other Problem Areas in the Definition of Current
Assets and Liabilities, Working Capital as a Measure of Liquidity. Cur¬
rent Ratio: Limitations of the Current Ratio, Implications of Current
Ratio Limitations, The Current Ratio as a Valid Tool of Analysis, Mea¬
sures That Supplement the Current Ratio, Measures of Accounts Re¬
ceivable Liquidity. Average Accounts Receivable Turnover Ratio: Col¬
lection Period for Accounts Receivable, Evaluation. Measures of
Inventory Turnover: Inventory Turnover Ratio, Days to Sell Inventory,
The Effect of Alternative Methods of Inventory Management, Prepaid
Expenses. Current Liabilities: Differences in the Nature of Current
Liabilities, Days Purchases in Accounts Payable Ratio. Interpretation of
the Current Ratio: Examination of Trend, Interpretation of Changes
over Time, Possibilities of Manipulation, The Use of Rules of Thumb
Standards, The Net Trade Cycle, Valid Working Capital Standards, The
Importance of Sales, Common Size Analysis of Current Assets Compo¬
sition, The Liquidity Index. Acid Test Ratio. Other Measures of Short
Term Liquidity: Cash Flow Related Measures. The Concept of Finan¬
cial Flexibility. Management s Discussion and Analysis (MD A): Proj¬
ecting Changes in Conditions or Policies. Questions.
17 Funds Flow Analysis and Financial Forecasts 574
Overview of Cash Flow Patterns. Short Term Cash Forecasts: Impor¬
tance of Sales Estimates, Pro Forma Financial Statements as an Aid to
Forecasting, Techniques of Short Term Cash Forecasting, Differences
between Short Term and Long Term Forecasts. Electronic Spreadsheet
Programs. Analysis of Statements of Cash Flows. Illustration of the
Analysis of Statements of Cash Flows. Evaluation of the Statement of
Cash Flows. Projection of Statements of Cash Flows. Illustration of the
Projection of Statements of Cash Flows: The Impact of Adversity, Pub¬
lished Financial Forecasts, The Cash Flow Adequacy Ratio, Cash Rein¬
vestment Ratio. Conclusion. Questions.
xxiv Contents
18 Analysis of Capital Structure and Long Term Solvency
597
Key Elements in the Evaluation of Long Term Solvency. Importance
of Capital Structure. Accounting Principles: Deferred Taxes, Long Term
Leases, Off Balance Sheet Financing, Liabilities for Pensions and for
Other Postretirement Employee Benefits (OPEB), Unconsolidated Subsi¬
diaries, Provision, Reserves, and Contingent Liabilities, Minority Inter¬
ests, Convertible Debt, Preferred Stock. Adjustments to the Book Value
of Assets: Recognition of Market Values, Inventories, Marketable Secu¬
rities, Intangible Assets. The Significance of Capital Structure. Reasons
for Employment of Debt: The concept of Financial Leverage, The Ef¬
fect of Tax Deductibility of Interest, Other Advantages of Leverage,
Measuring the Effect of Financial Leverage. Illustration of Computa¬
tion. The Financial Leverage Ratio. Measuring the Effect of Capital
Structure on Long Term Solvency. Long Term Projections—Usefulness
and Limitations. Capital Structure Analysis—Common Size State¬
ments. Capital Structure Ratios. Total Debt to Total Capital (Debt and
Equity): Ratio of Total Debt to Total Equity Capital, Long Term Debt/
Equity Capital, Confusion in Terminology, Short Term Debt, Equity
Capital at Market Value. Preferred Stock within the Capital Structure.
The Analytically Adjusted Ratio of Long Term Debt to Equity. Inter¬
pretation of Capital Structure Measures. Event and Other Types of
Risk. Measures of Assets Distribution. Critical Importance of Earning
Power. Measures of Earnings Coverage: Earnings Available to Meet
Fixed Charges, Fixed Charges to Be Included, Income Tax Adjustment
of Fixed Charges, Other Elements to Be Included in Fixed Charges.
Ratio of Earnings to Fixed Charges: Illustration of Earnings Coverage
Ratio Calculations. Pro Forma Computations of Coverage Ratios.
Cash Flow Coverage of Fixed Charges. Stability of Flow of Cash
From Operations. Earnings Coverage of Preferred Dividends. Evalua¬
tion of Earnings Coverage Ratios: Importance of Earnings Variability,
Importance of Method of Computation and of Underlying Assumptions.
Capital Structure, Leveraged Buyouts, Junk Bonds, and Other Fi¬
nancial Innovations. Thorough Analysis Is Essential. Appendix 18A:
The Rating of Debt Obligations. The Rating of Corporate Bonds. The
Rating of Municipal Securities. Limitations of the Rating Process: Ref¬
erences. Appendix 18B: Ratios as Predictors of Business Failure: Em¬
pirical Studies, Conclusions. Appendix 18C: Illustration of the Compu¬
tation of the Analytically Adjusted Long Term Debt to Equity Ratio.
Questions.
19 Analysis of Return on Investment and of Asset Utilization
651
Diverse Views of Performance. Criteria of Performance Evaluation.
Importance of Return on Investment (ROI). Major Objectives in the
Contents xxv
Use of ROI: As Indicator of Managerial Effectiveness, A Measure of
Enterprise Ability to Earn a Satisfactory ROI, A Method of Projecting
Earnings, Internal Decision and Control Tool. Basic Elements of ROI:
Defining the Investment Base, Book versus Market Values in the Invest¬
ment Base, Difference between Investor s Cost and Enterprise Invest¬
ment Base, Averaging the Investment Base, Relating Income to the In¬
vestment Base. Adjusting the Components of the ROI Formula:
Analysis and Interpretation of ROI. Analysis of Asset Utilization: Eval¬
uation of Individual Turnover Ratios, Use of Averages, Other Factors to
Be Considered in Return on Asset Evaluation, Return on Shareholders
Equity. Analysis of Return on Common Stockholders Equity
(ROCSE). Illustration of Analysis of Return on Total Assets and on
Equity: Expanded Disaggregation of ROCSE, Equity Growth Rate, Sus¬
tainable Growth Rate, Analysis of Financial Leverage Effects. Return
on Equity versus Return on Shareholder Investment. Questions.
20 Analysis of Results of Operations—I 684
The Significance of Income Statement Analysis. The Major Objectives
of Income Analysis: What Is the Relevant Net Income of the Enter¬
prise? Analysis of Components of the Income Statement: Accounting
Standards Used and Their Implication, Tools of Income Statement
Analysis. The Analysis of Sales and Revenues: Major Sources of Reve¬
nue. Financial Reporting by Diversified Enterprises: Reasons for the
Need for Data by Significant Enterprise Segments, Disclosure of Line
of Business Data, Income Statement Data, Balance Sheet Data, Re¬
search Studies, Statement of Financial Accounting Standards 14, SEC
Reporting Requirements, Implications for Analysis. Stability and Trend
of Revenues. Management s Discussion and Analysis of Financial
Condition and Results of Operations. Implications for Analysis. Meth¬
ods of Revenue Recognition and Measurement. Questions.
21 Analysis of Results of Operations—II 699
Analysis of Cost of Sales. Gross Profit: Factors in the Analysis of Gross
Profit. Analysis of Changes in Gross Margin. Example of Analysis of
Change in Gross Margin: Interpretation of Changes in Gross Margin.
Break Even Analysis: Concepts underlying Break Even Analysis, Equa¬
tion Approach, Graphic Presentation, Contribution Margin Approach,
Pocket Calculator Problem—Additional Considerations, Break Even
Technique—Problem Areas and Limitations, Analytical Implications of
Break Even Analysis, The Significance of the Variable Cost Percentage,
The Significance of the Fixed Cost Level, The Importance of the Con¬
tribution Margin. Analysis of the Relationship between Sales, Accounts
Receivable, and Inventories. Additional Considerations in the Analysis
xxvi Contents
of Cost of Sales. Depreciation. Amortization of Special Tools and Sim¬
ilar Costs. Maintenance and Repairs Costs. Other Costs and Ex¬
penses—General: Selling Expenses. Bad Debt Expenses: Future Directed
Marketing Costs. General, Administration, Financial, and Other Ex¬
penses: Financial Costs, Other Expenses. Other Income. Income
Taxes. Analysis of Income Tax Disclosures: Objectives of the Analysis,
Analytical Steps and Techniques, Illustration of Income Tax Analysis of
Quaker Oats Company, Explaining the Tax Rate, Focus on Pre Tax
Earnings. The Operating Ratio. Net Income Ratio: Statement Account¬
ing for Variation in Net Income. Questions.
22 The Evaluation and Projection of Earnings 736
Objectives of Earnings Evaluation. Evaluation of the Quality of Earn¬
ings: The Concept of Earnings Quality, Balance Sheet Analysis as a
Check on the Validity and Quality of Reported Earnings. Evaluation of
the Earnings Level and Trend: Factors Affecting the Level of Earnings,
The Analytical Recasting and Adjustment of Income Statements, The
Recasting and Adjusting Procedure, Determining the Trend of Income
over the Years, Income Smoothing and Income Distortion, Income
Smoothing and Income Distortion—Some Implications for Analysis,
Extraordinary Gains and Losses. The Concept of Earning Power:
Earning Power Time Horizon, Adjustment of Reported Earnings per
Share. The Forecasting of Earnings: Can Earnings be Forecast? SEC
Disclosure Requirements—Aid to Forecasting, Elements in Earnings
Forecasts, Publication of Financial Forecasts. Audited Financial Fore¬
casts and Projections. Monitoring Performance and Results: Interim
Financial Statements, APB Opinion 28, SEC Interim Reporting Re¬
quirements, Implications for Analysis. Questions.
23 Comprehensive Analysis of Financial Statements 780
The Methodology of Financial Statement Analysis. Significance of the
Building Block Approach to Financial Analysis. The Earmarks of
Good Financial Analysis. Special Industry or Environmental Charac¬
teristics. Illustration of a Comprehensive Analysis of Financial State¬
ments—Campbell Soup Company: Introduction. Financial Statements.
Additional Information. Focus of Analysis. Analysis of Short Term Li¬
quidity. Analysis of Cash Flows. Analysis of Capital Structure and
Long Term Solvency. Analysis of Return on Investment. Analysis of
Asset Utilization. Analysis of Operating Performance. Summary and
Conclusions: Short Term Liquidity, Cash Flows, Capital Structure and
Long Term Solvency, Return on Investment, Asset Utilization, Operat¬
ing Performance, Market Measures. Uses of Financial Statement
Analysis. Questions. Appendix 23.
Contents xxvii
Problems 857
Appendix 1039
Index 1049
|
| any_adam_object | 1 |
| author | Bernstein, Leopold A. |
| author_GND | (DE-588)171974972 |
| author_facet | Bernstein, Leopold A. |
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| dewey-search | 657/.3 |
| dewey-sort | 3657 13 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| edition | 5. ed. |
| format | Book |
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| id | DE-604.BV008408788 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-09T17:19:14Z |
| institution | BVB |
| isbn | 0256102236 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-005538563 |
| oclc_num | 26158566 |
| open_access_boolean | |
| owner | DE-355 DE-BY-UBR DE-824 DE-19 DE-BY-UBM DE-473 DE-BY-UBG |
| owner_facet | DE-355 DE-BY-UBR DE-824 DE-19 DE-BY-UBM DE-473 DE-BY-UBG |
| physical | XXVII, 1075 S. |
| publishDate | 1993 |
| publishDateSearch | 1993 |
| publishDateSort | 1993 |
| publisher | Irwin |
| record_format | marc |
| spelling | Bernstein, Leopold A. Verfasser (DE-588)171974972 aut Financial statement analysis theory, application, and interpretation 5. ed. Homewood, Ill. Irwin 1993 XXVII, 1075 S. txt rdacontent n rdamedia nc rdacarrier Decisao (Teoria) larpcal Financas Das Empresas larpcal Information financière ram États financiers États financiers ram Financial statements Bilanzanalyse (DE-588)4069453-7 gnd rswk-swf Bilanzanalyse (DE-588)4069453-7 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005538563&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Bernstein, Leopold A. Financial statement analysis theory, application, and interpretation Decisao (Teoria) larpcal Financas Das Empresas larpcal Information financière ram États financiers États financiers ram Financial statements Bilanzanalyse (DE-588)4069453-7 gnd |
| subject_GND | (DE-588)4069453-7 |
| title | Financial statement analysis theory, application, and interpretation |
| title_auth | Financial statement analysis theory, application, and interpretation |
| title_exact_search | Financial statement analysis theory, application, and interpretation |
| title_full | Financial statement analysis theory, application, and interpretation |
| title_fullStr | Financial statement analysis theory, application, and interpretation |
| title_full_unstemmed | Financial statement analysis theory, application, and interpretation |
| title_short | Financial statement analysis |
| title_sort | financial statement analysis theory application and interpretation |
| title_sub | theory, application, and interpretation |
| topic | Decisao (Teoria) larpcal Financas Das Empresas larpcal Information financière ram États financiers États financiers ram Financial statements Bilanzanalyse (DE-588)4069453-7 gnd |
| topic_facet | Decisao (Teoria) Financas Das Empresas Information financière États financiers Financial statements Bilanzanalyse |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005538563&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT bernsteinleopolda financialstatementanalysistheoryapplicationandinterpretation |