Financial statement analysis and security valuation / Stephen H Penman.

By focusing on output rather than input, this book focuses on the information provided by financial statements, rather than how those statements are prepared. It stresses the use of financial statements in the valuation of businesses, and shows how to bridge the gap between concepts and practice

Contents include

Chapter 1 Introduction to Investing and Valuation
Chapter 2 Introduction to the Financial Statements
PART ONE Financial Statements and Valuation
Chapter 3 How Financial Statements Are Used in Valuation
Chapter 4 Cash Accounting, Accrual Accounting, and Discounted Cash Flow Valuation
Chapter 5 Accrual Accounting and Valuation: Pricing Book Values
Chapter 6 Accrual Accounting and Valuation: Pricing Earnings
Chapter 7 Valuation and Active Investing
PART TWO The Analysis of Financial Statements
Chapter 8 Viewing the Business Through the financial Statements
Chapter 9 The Analysis of the Statement of Shareholders' Equity Chapter 10 The Analysis of the Balance Sheet and Income Statement
Chapter 11 The Analysis of the Cash Flow Statement
Chapter 12 The Analysis of Profitability
Chapter 13 The Analysis of Growth and Substainable Earnings
Chapter 14 The Value of Operations and the Evalustion of Enterprise Price-to Book Ratios and Price-Earnings Ratios
Chapter 15 Anchoring on the Financial Statements: Simple Forecasting and Simple Valuation
Chapter 16 Full-Information Forecasting, Valuation, and Business Strategy Analysis
PART FOUR Accounting Analysis and Valuation Chapter 17 Creating Accounting Value and Economic Value
Chapter 18 Analysis of the Quality of Financial Statements
PART FIVE The Analysis of Risk and Return
Chapter 19 The Analysis of Equity Risk and Return for Active Investing
Chapter 20 The Analysis of Credit Risk and Return