Business Analysis and Valuation: Using Financial Statements:...

Features

• Cover Type: Paperback with 800 pages
• Published by: Cengage Lrng Business Press
• Edition: 1st Edition April 3, 2007
• Written in: English
• ISBN 10 Number: 1844804925
• ISBN 13 Number: 978-1844804924
• Book Dimensions: 10.2 x 7.6 x 1 inches
• Weighs: 3 pounds

Product Review
“This is an great text which tackles the real issues of accounting analysis and valuation. The conversion to IFRS has been done well. The key strengths are the high level of explanation and the use of real life examples, as well as the fact that the text tackles real problems of forecasting, analysis and valuation in a way which no other text I know does.”

Simon Pallett, University of Newcastle

“All needed modifications have been comprehensively and excellently done. These modifications are appropriate, making the book attractive for European readers.”

Lakshmanan Shivakumar, London Business School

“What makes this book attractive for my course is that it continues where other textbooks stop: it focuses on the link between accounting figures and corporate strategy.”

Ignace de Beelde, Ghent University

“I think that the new edition has succeeded in creating an alternative for PHB for European students. While keeping the original text intact, the authors have managed to give it a European tone.”

Sanjay W. Bissessur, University of Amsterdam Business School

Product Description
Business Analysis and Valuation teaches students how to use financial statement information to assess a firm's financial performance, value, and creditworthiness. This new IFRS edition has been adapted and developed by Erik Peek of Maastricht University. The text is primarily aimed at Masters and upper-level undergraduate programs in business and builds a bridge between accounting and finance, therefore making it accessible to both finance and accounting students. The distinctive strengths of this text include a large number of real-world cases used to illustrate theory; the step-by-step analysis methodology, and the extensive discussion of strategy analysis. The presentation of material is based on business analysis before financial analysis, which ensures that financial analysis is approached in a real-world manner and is driven by strategy. The pedagogy is geared toward helping students to develop strong practical skills using current applications. The most popular Harvard cases from the third edition have been retained in this IFRS edition and new cases written by Erik Peek added to give a new exciting European dimension to the text.

Reader Reviews
This review is from: Business Analysis and Valuation: Using Financial Statements, Text and Cases (Hardcover) This review applies to the edition WITH CASES. This isn't recommended for anyone who is just starting out with choosing investments. Beginners might be better off with a more general overview of financial statement analysis (FSA) like Higgins' "Analysis of Financial Statements" or Fraser and Omriston's "Understanding Financial Statements". This was one of two textbooks used in a financial statement analysis course I took for my MBA. Most chapters are down-to-earth and as a whole the book is well-written. The other text we used was Penman's "Financial Statement Analysis and Security Valuation" which was also a great resource as far as gaining a basic understanding of the mechanics of financial statements and how to build a valuation model. I contrast the two books because while Penman provides a run-down of several different models analysts can use (and does a good job of arguing for the Residual Income Model of valuation model as being the best), Palepu delves into the implications of companies' choices of accounting methods and provides more insight into what different kinds of businesses should look like in terms of their financial statements. The cases at the end of each chapter add a lot of value to the text because they get students to focus on the specific issues detailed in each chapter. By picking apart different companies' financial statements we learned to use financial statements to assess the success or failure of companies' efforts to carry out their business strategies. I rate it "Good - 4 stars"