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The manager's guide to financial statement analysis /
Stephen F. Jablonsky, Noah P. Barsky.
edition
2nd ed.
imprint
New York : Wiley, c2001.
description
xxv, 262 p. : ill. ; 24 cm.
ISBN
0471402745 (alk. paper)
format(s)
Book
Holdings
More Details
added author
imprint
New York : Wiley, c2001.
isbn
0471402745 (alk. paper)
catalogue key
4493085
 
Includes bibliographical references and index.
A Look Inside
About the Author
Author Affiliation
Stephen F. Jablonsky, PhD, CPA, is the senior member of The Management Communications Group and a faculty member at Penn State University Noah P. Barsky, PhD, CPA, CMA, is a faculty member in the College of Commerce and Finance at Villanova University
Excerpts
Flap Copy
Every day managers are flooded with financial information from an over-whelming number of sources-company reports, the financial press, and the Internet. While the language of financial statements may sound like a foreign tongue to you, you know you can't ignore it. To understand how to use financial information to improve the performance of your company, you need a resource that emphasizes how financial statements support meaningful management communications. Written in accessible, nontechnical language, The Manager's Guide to Financial Statement Analysis puts the focus on what you need to know to be an effective participant in business communications. Here is a frame-work that helps managers see how business strategy is linked to shareholder accountability through the firm's financial statements-without getting caught in the trap of explaining how financial statements are prepared according to technical accounting rules and regulations. The emphasis of this book is on how you, as a manager, can use financial information to improve the performance of your organization, rather than simply learning how to keep score! Using a full decade of financial data from Wal-Mart, and case studies of a number of other high-profile firms including Cisco, Dell, and Pfizer, this book presents strategy models that demonstrate how financial information can be utilized to tell a story about a company's business operations. The Manager's Guide to Financial Statement Analysis is written in language you can understand-the language of business as spoken by managers, not accountants or financial analysts. This book will give you the tools you need to unleash the full communication potential of your company's financial information, make you a better manager-and make your company more competitive.
Full Text Reviews
Appeared in Choice on 2001-11-01:
Jablonsky (The Management Communications Group) and Barsky (Villanova Univ.) focus on the interpretation and managerial impact of financial data. The volume is divided into two sections: "Financial Statements and Business Strategy" and "Market Valuation and Business Strategy." Emphasizing the relationship between a company's market performance and its financial statements, the authors, in 12 easy-to-read chapters, apply the traditional principles and practices of financial analysis to the 1990 and 2000 financial statements of Wal-Mart. Topics covered include the analysis of current operating position, debt and equity relationships, profitability and margin management, current and long-term asset management, long-term investment, debt management, market valuation, and present and future value computations. Excellent illustrative materials enhance the succinct explanations. Four appendixes provide financial analyses of Dell Computer Corporation, Pfizer, Inc., and Cisco Systems and a brief introduction to the methodology of case studies. Although oriented toward the management profession, this book would be an excellent reference source for undergraduate students. See also Jack Sand's Accounting for Business: What the Numbers Mean and How to Use Them (CH, June'01), which provides an introduction to the accounting theory and procedures that form the basis of financial analysis. Recommended for lower-division undergraduate through professional collections. S. R. Kahn University of Cincinnati
Reviews
This item was reviewed in:
Choice, November 2001
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Summaries
Back Cover Copy
Praise for The Manager's Guide to Financial Statement Analysis "The Manager's Guide to Financial Statement Analysis opens the door for both financial and nonfinancial managers to develop a framework for understanding a company's true financial performance. The Manager's Guide goes the extra step by providing the reader with the skills necessary to communicate the impact of a firm's financial measures in a nontraditional, easy-to-understand manner. It is this combination of understanding and effective communication that allows the manager to then improve a firm through the use of financial information."-Christopher D. Flick, Investment Manager, The Vanguard Group "The Manager's Guide to Financial Statement Analysis has helped me in both my personal (investing) and professional (management) lives. The authors unravel the complexities of financial statements so that the information they contain can be easily digested and exploited. There is no more hiding a company's strategy behind a set of financial statements. I keep this book close at hand!"-Steven I. Glusman, Chief Engineer, Comanche Helicopter Program, Boeing Rotorcraft Program Management Center "A valuable framework for communicating firm results and aligning managers around common goals. The methodology links the information contained in a company's financial statements with its external market performance in a format that is easily understandable by the different functional managers of any company."-Scott Teeter, The LTC Group
Bowker Data Service Summary
This work aims to show readers how to understand a corporation's financial information provided in balance sheets and income statements, as well as from other sections of the annual report. It is aimed at corporation managers.
Table of Contents
Prefacep. ix
Acknowledgmentsp. xi
Introductionp. xiii
Most Managers Are Quite Happy They Are Not Accountantsp. xv
Accounting Is the "Language of Business"p. xv
Is a Broader Economic Perspective Really Necessary?p. xvi
Why Did We Write this Book?p. xvii
Business Advocate Perspective of this Bookp. xx
Storytelling and Model Buildingp. xxiii
Organization of The Manager's Guidep. xxiv
Financial Statements and Business Strategyp. 1
Financial Statements and Business Strategyp. 3
Financial Statementsp. 5
Beginning the Analysisp. 8
Strategic Profit Model: Quick Overviewp. 15
Compound Annual Growth Ratesp. 27
Strategic Profit Model: Margin Managementp. 29
Net Salesp. 33
Cost of Salesp. 34
Gross Marginp. 34
Operating Expensesp. 36
Interest Expensep. 37
Other Expenses (Income)p. 38
Income before Income Taxesp. 38
Provision for Income Taxesp. 38
Net Incomep. 39
Profit Marginp. 40
Strategic Profit Model: Asset Managementp. 42
Current Assetsp. 45
Productive Assetsp. 52
Other Assetsp. 54
Total Assetsp. 55
Asset Turnoverp. 56
Strategic Profit Model: Return on Assetsp. 59
Return on Assetsp. 63
Explaining Past Performancep. 66
Speculating About the Futurep. 66
Strategic Profit Model: Financial Managementp. 69
Financial Leveragep. 71
Total Liabilities: A Closer Lookp. 74
Shareholders' Equityp. 80
Financial Management Perspectivep. 83
Strategic Profit Model: Comprehensive Managementp. 87
Integrity of Financial Statementsp. 88
Shareholder Accountabilityp. 88
Report of Independent Auditorsp. 89
From Formal to Substantive Accountabilityp. 90
Strategic Profit Model Revisitedp. 90
Return on Assetsp. 92
Return on Equityp. 93
Drawing Your Own Conclusionsp. 94
Strategic Financing Model: Long-Term Investment and Financingp. 96
Restructuring the Balance Sheetp. 97
Strategic Financing Modelp. 107
Strategic Financing Model: Financing the Businessp. 117
Management's Contribution to Financing the Businessp. 120
Long-Term Investmentp. 123
External Financingp. 126
The SFM and Understanding the Businessp. 130
Market Valuation and Business Strategyp. 133
Market Valuation: Market Performance Measuresp. 135
Market Valuation and the Strategic Profit Modelp. 137
Price/Earnings and Market/Book Ratiosp. 141
Wal-Mart and the SandP 500p. 144
Market Valuation: Long-Term Debtp. 147
Debt and Equity Securitiesp. 148
Market Valuation of Long-Term Debtp. 153
Time Value of Moneyp. 154
Long-Term Debt: Mind Your Ps and Qsp. 157
Fast Forward Six Yearsp. 160
Market Valuation: Common Stockp. 164
Cost of Equity Capitalp. 165
Overall Economyp. 167
Wal-Mart's Cost of Equity Capitalp. 168
Stream of Equity Cash Flowsp. 172
Present and Future Valuesp. 176
Reality Checkp. 178
Market Valuation: Strategic Profit Model Revisitedp. 180
Management Performance and Market Performancep. 181
Concept of Equity Spreadp. 182
Expanded Summary Version of the Strategic Profit Modelp. 185
Case Studiesp. 189
Introduction to Case Studiesp. 191
Dell Computer Corporationp. 195
Pfizer, Inc.p. 215
Cisco Systemsp. 234
Indexp. 257
Table of Contents provided by Syndetics. All Rights Reserved.

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