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Financial Statements

Analysis, Reporting and Valuation

  • Book
  • © 2022

Overview

Authors:
  1. Felix I. Lessambo

    1. Fordham University, New York, USA

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  • Covers IFRS and GAAP standards alongside Non-GAA metrics and valuation accounting
  • Demystifies the complexities of long-term assets and liabilities, including PPE, leases and pensions
  • Provides case studies of both Apple and Microsoft

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Table of contents (26 chapters)

  1. Front Matter

    Pages i-xxv
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  2. Overview of Financial Statements and the Statement of Position

    1. Front Matter

      Pages 1-2
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    2. Overview of Financial Statements

      • Felix I. Lessambo
      Pages 3-24

    3. Short-Term Assets: Cash and Cash Equivalents

      • Felix I. Lessambo
      Pages 25-43

    4. Short-Term Assets Inventories

      • Felix I. Lessambo
      Pages 45-58

    5. Account Receivables

      • Felix I. Lessambo
      Pages 59-76

    6. Prepaid Expenses, Unearned Income, and Other Current Assets

      • Felix I. Lessambo
      Pages 77-82

    7. Short-Term Liabilities & Working Capital

      • Felix I. Lessambo
      Pages 83-88

    8. Long-Term Assets: Plant, Property, and Equipment

      • Felix I. Lessambo
      Pages 89-103

    9. Long-Term Assets: Intangibles

      • Felix I. Lessambo
      Pages 105-116

    10. Long-Term Liabilities: Leases

      • Felix I. Lessambo
      Pages 117-128

    11. Long-Term Liabilities: Pension & Postretirement Liabilities

      • Felix I. Lessambo
      Pages 129-140

    12. Shareholders’ Equity

      • Felix I. Lessambo
      Pages 141-158

  3. The Statement of Income

    1. Front Matter

      Pages 159-161
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    2. Analysis of the Statement of Income

      • Felix I. Lessambo
      Pages 163-172

    3. Other Comprehensive Income

      • Felix I. Lessambo
      Pages 173-188

    4. The Sub-Statement of Retained Earnings

      • Felix I. Lessambo
      Pages 189-196

    5. The Computation of the Taxable Income

      • Felix I. Lessambo
      Pages 197-211

  4. The Statement of Cash Flows & Financial Ratios

    1. Front Matter

      Pages 213-213
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    2. Analysis of the Statements of Cash Flows

      • Felix I. Lessambo
      Pages 215-228
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Keywords

About this book

Through a mixture of concepts and examples, the second edition of this book demystifies the variety of elements of financial accounting and uncovers the need-to-know information for certification in this field. This book covers the two aspects of financial statement analysis, namely quantitative and non-quantitative analysis. Unique to the second edition, the book will also cover Non-GAA- metrics and valuation accounting. Concluding with helpful and updated case studies, the book will appeal to students and academics of financial accounting.


Reviews

“This book is a noteworthy addition to the field of accounting and finance. It is geared towards and suitable for those looking for and in need of a comprehensive and working knowledge of financial reporting. The subject matter is quite broad, incorporating much of the materials typically covered in the first 3-4 courses in the financial accounting curriculum, the analytic framework for financial statement analysis, and a detailed discussion of the global regulatory environment for financial reporting. An obvious benefit of the book is the comprehensiveness of the subject matter. Less obvious, but perhaps even more important benefits of the book, are i) the integration of the preparer and user perspectives for financial reporting; ii) the well-thought out organization of the vast amounts of materials, which will help students and readers understand how each detail fits into the whole;  and iii) the consistent perspective/voice with which all the voluminous information is presented.” (Haim Mozes, Professor of Accounting and Taxation, Fordham University, Gabelli School of Business, USA)

“This is an outstanding roadmap to financial literacy for financial professionals, managers, and MBA students worldwide. It showcases the essential aspects of financial statements with clarity and precision. Well-written and highly illustrative, especially within the case study.” (Victor Petenkemani, MS, MBA, Interim Dean, Mercy College, School of Business, New York, USA)

 

 

Authors and Affiliations

  • Fordham University, New York, USA

    Felix I. Lessambo

About the author

Felix I. Lessambo is Adjunct Associate Professor at Fordham University, USA, where he teaches Corporate Tax and Audit & Assurance Services. He was an Associate Professor at Central Connecticut State University School of Business where he taught Financial Statements Analysis, Global Financial Reporting, and Law & Finance. He has practiced international tax, transfer pricing, and alternative investment management where he structured and advised on hedge funds and private equity cross-border transactions. He is the author of several books in finance including The International Banking System, The International Corporate Governance System, International Financial Institutions and Their Challenges, International Aspects of US Taxation System, Audit-Assurance Services & Forensics, Financial Statements: Analysis & Reporting, The US Banking System, Mergers in the Global Markets, International Finance, The US Mergers & Acquisitions: Legal & Financial Aspects, and International ProjectFinance: The Public-Private Partnership.

Bibliographic Information

  • Book Title: Financial Statements

  • Book Subtitle: Analysis, Reporting and Valuation

  • Authors: Felix I. Lessambo

  • DOI: https://doi.org/10.1007/978-3-031-15663-2

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022

  • Hardcover ISBN: 978-3-031-15662-5Published: 01 November 2022

  • Softcover ISBN: 978-3-031-15665-6Published: 02 November 2023

  • eBook ISBN: 978-3-031-15663-2Published: 31 October 2022

  • Edition Number: 2

  • Number of Pages: XXV, 473

  • Number of Illustrations: 23 b/w illustrations, 5 illustrations in colour

  • Topics: Financial Accounting, Business Finance

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