By George T. Friedlob, Lydia L. F. Schleifer

ISBN-10: 0471228303

ISBN-13: 9780471228301

An easy-to-use consultant to monetary analysisEssentials of economic research exhibits tips to study a firm as a potential funding. This one-stop source incorporates a uncomplicated advent to accounting; exhibits the way to use ratio research to judge a company's revenue, liquidity, and solvency; and offers real monetary statements of quite a few businesses as illustrations.

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Sometimes, it may appear that companies are being overly optimistic when recognizing revenue; for example, if all the money received for a three-year contract is reported as being earned in the first year. Another questionable situation is referred to as round-trip revenue, wherein it appears that two companies simply exchange cash or asset amounts in some type of transaction and then report a revenue. For example, Elan Corporation, a drug company based in Ireland, engages in transactions with numerous research and development joint ventures.

A liability increases and owners’ equity decreases when a dividend is declared (the dividend does not have to be paid yet to be recorded). 8. A liability is decreased and owners’ equity increased when con- vertible bonds are converted to stocks and the stock issued. 9. A liability decreases and revenues increase when a company per- forms a service that enables it to earn the payment received some time ago (or when time goes by and the rental payment received last month has now been earned). 10.

55) and in the auditors’ report, as follows: As discussed in Notes A and J to the consolidated financial statements, effective January 1, 2001,The Dow Chemical Company changed its method of accounting for derivative instruments and hedging activities to conform to Statement of Financial Accounting Standards No. 133. (Dow Chemical, Independent Auditors’ Report, p. 40) Comprehensive Income The definition of comprehensive income is the change in equity of a business enterprise during a period from transactions and other events and circumstances from nonowner sources.

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Essentials of financial analysis by George T. Friedlob, Lydia L. F. Schleifer

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