Better analysis for more accurate international financial valuation 'International Financial Statement Analysis' provides the most up-to-date detail for the successful assessment of company performance and financial position regardless of country of origin. The seasoned experts at the CFA Institute offer readers a rich, clear reference, covering all aspects from financial reporting mechanics and standards to understanding income and balance sheets. Comprehensive guidance toward effective analysis techniques helps readers make real-world use of the knowledge presented, with this new third edition containing the most current standards and methods for the post-crisis world. Coverage includes the complete statement analysis process, plus information on income tax accounting, employee compensation, and the impact of foreign exchange rates on the statements of multinational corporations. Financial statement analysis gives investment professionals important insights into the true financial condition of a company. With it, realistic valuations can be made for investment, lending, or merger and acquisition purposes. The process is becoming increasingly complex, but this book helps readers deal with the practical challenges that arise at the international level. Understand the accounting mechanics behind financial reporting Discover the differences between statements from around the world Learn how each financial statement element affects securities valuation Master analysis for clues into operations and risk characteristics Amid an uncertain global economic climate, in today's volatile international markets, the ability to effectively evaluate financial statements is a critical skill. Standards and conditions are continuously evolving, and investment professionals need a strong, up-to-date resource for the latest rules and best practices. 'International Financial Statement Analysis' provides this and more, with clarity and expert advice. Now in its third edition, 'International Financial Statement Analysis' is the definitive guide that offers financial analysts, investment analysts, portfolio managers, and asset allocators the most up-to-date and detailed information on the topic. Written by an authoritative team of experts, this comprehensive resource includes the most recent standards and methods for effectively evaluating financial statements in today's international and volatile markets, amid an uncertain global economic climate. 'International Financial Statement Analysis' is filled with the information and strategies needed to examine the past and current performance and financial position of a company in order to form expectations and make recommendations about its future performance and financial position. The authors cover the mechanics of the accounting process, which is the foundation for financial reporting, and discuss the scope of financial statement analysis. They describe the sources of information used in financial statement analysis, including the primary financial statements (balance sheet, statement of comprehensive income, statement of changes in equity, and cash flow statement). They explore how to evaluate financial statement notes and supplementary information--including disclosures of accounting policies, methods, and estimates--and management's commentary. To ensure the reliability of an audit, the text includes information on the various types of audit reports and stresses the importance of effective internal controls. The book also explores the different financial statement analysis techniques that can provide valuable clues into a company's operations and risk characteristics. The authors include a proven framework for guiding the financial statement analysis process. Designed as a practical resource, 'International Financial Statement Analysis, Third Edition' is filled with examples and practice problems that reinforce the learning outcomes and demonstrate how to apply the principles in the real world. To enhance the text, a companion workbook is also available. The workbook includes learning outcomes, summary overview, and problems and solutions sections that mirror the chapters in 'International Financial Statement Analysis.' CFA INSTITUTE INVESTMENT SERIES Better analysis for more accurate international financial valuation The third edition of 'International Financial Statement Analysis' includes up-to-date information for the successful assessment of company performance and financial position regardless of an organization's country of origin. Written by the experts at CFA Institute, this important resource offers a clear reference that covers all aspects from financial reporting mechanics and standards to understanding income and balance sheets. This comprehensive guide includes effective analysis techniques that help present the knowledge in real-world application. The third edition also contains the most current standards and methods and includes the complete statement analysis process. Information on income tax accounting, employee compensation, and the impact of foreign exchange rates on the statements of multinational corporations is also included. 'International Financial Statement Analysis, Third Edition 'offers the latest rules and best practices, with clarity and expert advice.