Summary of How to Read a Financial Report

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Rating

8 Overall

10 Applicability

8 Innovation

8 Style

Recommendation

Taking the time to learn the basics of reading corporate financial statements can help you become more informed about your investments, your job and your business decisions. John A. Tracy provides a clearly written guide to core financial reports. He shows you how they fit together and why they matter. You will gain confidence as you work through the concepts he explains and begin to use what you learn to dig into the financials of familiar companies. In the hands of a lesser teacher than Tracy, these concepts could be confusing. In fact, the whole discussion could become a powerful soporific that descends on your mind like a fog. Instead, this book makes it interesting and clear. Everyone needs some financial awareness. getAbstract believes that this valuable introduction is a good starting point for learning to read real business data. New managers may find that Tracy opens a door and invites you to come into a room that was previously locked.

In this summary, you will learn

  • How to read basic financial statements
  • How the three basic financial statements interconnect
  • Why you should read the footnotes in a financial report
 

About the Author

John A. Tracy is emeritus professor of accounting at the University of Colorado at Boulder. He has written several books on accounting issues.

 

Summary

Core Financial Reports
Managers often have a feel for how their businesses are doing, but sometimes their impressions are off the mark. When you learn to decode well-prepared financial reports, you will be much better equipped to understand the realities of a business’s position, what ...

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