This book describes valuation as an exercise in financial statement analysis. Students learn to view a firm through its financial statements and to carry out the appropriate financial statement analysis to value the firm's debt and equity. The book takes an activist approach to investing, showing ho[...]
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 fir[...]