Financial Statement Analysis and Security Valuation
Editorial Reviews
Book Description
Penman's Financial Statement Analysis and Security Valuation 2/e focuses on the output of financial statements, not the input. As such, the book asks what financial statements tell you, not how they are prepared. The idea is to get students to see accounting "working." The book focuses on using financial statements in valuation. The text takes the approach that the best way to accurately value a firm is to look at the future earnings of the firm. The main pretext of the book is that financial statement analysis and valuation analysis are inextricably entwined: valuation is an exercise in financial statement analysis. Financial statement analysis is directed by the need to get information for valuation. Accordingly, the book brings finance and accounting concepts together. The book stresses concepts, but the idea is to show how to move from concepts to practice.
About the Author
Stephen Penman is the L.H. Penney Professor of Accounting at the University of California at Berkeley. He received his Ph.D. from the University of Chicago in 1978. He has published extensively in the Journal of Accounting and Economics, the Journal of Accounting Research, and the Contemporary Accounting Research journal. he currently on the editorial board of the Review of Accounting Studies. He is known around the world for his reserch in Financial Accounting.
Financial Statement Analysis and Security Valuation,Stephen Penman,Stephen Penman,McGraw-Hill/Irwin,007253317X,Accounting - Financial,Business & Economics,Business / Economics / Finance,Business/Economics,Financial statements,Investments & Securities - General,Business & Economics / Accounting / Financial
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