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Summary: Business Analysis and Valuation : Using Financial Statements
Review: Financial statements are the basis for a wide range of business analysis and this books, i.e.,Business Analysis and Valuation : Using Financial Statements, Text and Cases by Krishna G. Palepu makes this sometimes very confusing field of study a bit easier to understand. 5/5.
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Summary: Just same old story
Review: I am using this book for a business valuation class now. Nothing but a binding many buzzy theories. Too many stories in a limited pages. This is not a good book for those who wants to deepen understanding of one subject.
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Summary: An Excellent and New-Approach Book on Business Analysis
Review: The book is one of the most practical textbooks on business analysis and valuation. Students and practitioners will learn a lot by just following the guided steps given in the book. But it needs urgent updating since some of the data and predictions are way out of line now. Also it needs to add more explanations on theories and various approaches on business analysis while taking out much of the cases included in the book.
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Summary: A good book blending accounting, investing and finance !
Review: This book is also a bestseller in Japan. Here someone called it "The only textbook now available that broadly explains accounting figures in the valuation model of the firm". This is a good book for beginners. Although the contents might be somewhat easy, the order in which it is written is very meaningful. You will probably have read everything in this book somewhere else, but certainly not in this order ! The importance of the ideas in this book go beyond its contents !!
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Summary: A good book blending accounting, investing and finance !
Review: This book is also a bestseller in Japan. Here someone called it "The only textbook now available that broadly explains accounting figures in the valuation model of the firm". This is a good book for beginners. Although the contents might be somewhat easy, the order in which it is written is very meaningful. You will probably have read everything in this book somewhere else, but certainly not in this order ! The importance of the ideas in this book go beyond its contents !!
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Summary: Excellent Capstone Book
Review: This book is an excellent description of all the elements that would go into reviewing a potential investment opportunity. It is not a detailed book in one category, such as financial accounting, but it ties business strategy analysis, financial analysis, forecasting analysis, and valuation analysis together. Most other books focus on one area and don't tie all of these together well. This one takes you down the path to evaluating the opportunity to its fullest. It is an excellent capstone book after you have sifted through the details of strategy, finance, and accounting.
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Summary: Required Text
Review: This is a required text at my school, but after having read the first 5 chapters there is almost nothing of value that I have read. I have spoken to several people that have used this text for the class in prior semesters and they told me that they had stopped reading it after the first several chapters also.
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Summary: Required Text
Review: This is a required text at my school, but after having read the first 5 chapters there is almost nothing of value that I have read. I have spoken to several people that have used this text for the class in prior semesters and they told me that they had stopped reading it after the first several chapters also.
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Summary: Excellent Textbook on Business Analysis
Review: This is one of the most useful textbooks on business analysis and valuation. The content is practical while based on robust theories.The analysis consists of four components: business strategy, accounting policy, financial performance and prospect. Quantative and qualitative perspectives are balanced. Their explanation is logical and persuasive. You can develop understanding through tens of attached cases.
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Summary: Useful if cumbersome
Review: This review applies to the edition WITH CASES. This isn't recommended for anyone who is just starting out with choosing investments. Beginners might be better off with a more general overview of financial statement analysis (FSA) like Higgins' "Analysis of Financial Statements" or Fraser and Omriston's "Understanding Financial Statements".This was one of two textbooks used in a financial statement analysis course I took for my MBA. Most chapters are down-to-earth and as a whole the book is well-written. The other text we used was Penman's "Financial Statement Analysis and Security Valuation" which was also a great resource as far as gaining a basic understanding of the mechanics of financial statements and how to build a valuation model. I contrast the two books because while Penman provides a run-down of several different models analysts can use (and does a good job of arguing for the Residual Income Model of valuation model as being the best), Palepu delves into the implications of companies' choices of accounting methods and provides more insight into what different kinds of businesses should look like in terms of their financial statements. The cases at the end of each chapter add a lot of value to the text because they get students to focus on the specific issues detailed in each chapter. By picking apart different companies' financial statements we learned to use financial statements to assess the success or failure of companies' efforts to carry out their business strategies. I rate it "Good - 4 stars"
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