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 | | Business Analysis & Valuation: Using Financial Statements : Text & Cases (AB-Accounting Principles) by Krishna G. Palepu, Victor L. Bernard, Paul M. Healy ISBN-10: 9780538843324 ISBN-10: 0-538-84332-2 ISBN-13: 9780538843324 ISBN-13: 978-0-538-84332-4 Hardcover 1996-01 South-Western Educational Publishing Find Lowest Price |
Editorials | ||
Book Description Financial Statements are the basis for a wide range of business analysis. There is strong demand among business students for course materials that provide a framework for using financial statement data in a variety of business analysis and valuation contexts. Business Analysis and Valuation Using Financial Statements, 2nd Edition by Palepu/Healy/Bernard provides that framework | ||
Reviews | ||
Case study is worth reading... First part of this book is about reading financial statements. If you already know the statements, you don't need to read the first part. However, even if you can read the statements, the second part, case study, will be helpful to your real analysis. | ||
good case study I found the chapters are not very in detail. I was using it as the textbook and the lecture notes are way better. I read the book at the begginning but stopped in the middle as it doesn't really help. However, the end of chapter case studies are pretty good. | ||
Useful if cumbersome 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" | ||
Required Text This is a required text at my school, but after having read the first 5 chapters there is almost nothing of value that I have read. I have spoken to several people that have used this text for the class in prior semesters and they told me that they had stopped reading it after the first several chapters also. | ||
Excellent Capstone Book This book is an excellent description of all the elements that would go into reviewing a potential investment opportunity. It is not a detailed book in one category, such as financial accounting, but it ties business strategy analysis, financial analysis, forecasting analysis, and valuation analysis together. Most other books focus on one area and don't tie all of these together well. This one takes you down the path to evaluating the opportunity to its fullest. It is an excellent capstone book after you have sifted through the details of strategy, finance, and accounting. | ||