How should an investor challenge the market price and find value? This book provides a new lens, arguing that value investing is a matter of understanding the business through accounting. Stephen Penman and Peter Pope--leading authorities on accounting and its investment applications--demonstrate why attention to financial statements is the key to judicious valuation. More broadly, they show that accounting fundamentals, when analyzed in a systematic manner, teach us how to think about value in new ways.
This guide to investing through analysis of financial statements presents both underlying principles and practical examples. It examines how an accounting book is structured, the ways to read one in order to extract information about value, and why accounting techniques help investors avoid common traps. Through cases that depict finance, investing, and accounting principles in action, readers learn crucial lessons for challenging the market's pricing. Financial Statement Analysis for Value Investing is essential reading for anyone interested in the fundamentals of value investing, practitioners and students alike. Both professional and individual investors can benefit from its techniques and insights, and it is well suited for value investing and financial statement analysis courses in business schools.外文書商品之書封，為出版社提供之樣本。實際出貨商品，以出版社所提供之現有版本為主。部份書籍，因出版社供應狀況特殊，匯率將依實際狀況做調整。
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