Financial Statement Analysis and Security Valuation (Paperback, 5th edition)

Valuation is at the heart of investing. A considerable part of the information for valuation is in the financial statements. Financial Statement Analysis and Security Valuation, 5 e by Stephen Penman shows students how to extract information from financial statements and use that data to value firms. The 5th edition shows how to handle the accounting in financial statements and use those statements as a lens to view a business and assess the value it generates.