The Secret Language of Financial Reports: The Back Stories That Can Enhance Your Investment Decisions

by Mark E. Haskins

Book Overview

Wise investors uncover a company's real story.

The Secret Language of Financial Reports helps you read a company's annual report like a good book so you can make informed investment decisions. From reading the fine print to interpreting what isn't accounted for, this authoritative guide provides a road map for seeing past the complexity and jargon in company reports in order to understand what is and is not communicated there...

• Format: Paperback
• Language: English
• ISBN: 0071545530
• ISBN13: 9780071545532
• Release Date: December 2007
• Publisher: McGraw-Hill Companies
• Length: 304 Pages
• Weight: 1.20 lbs.
• Dimensions: 0.7" x 7.4" x 9.6"

Customer Reviews

It's A Must Read

That the good professor kept this book in his head for a decade or so before writing it is almost unforgivable. Where was he when I started picking retirement benefits with my first job? All those annual reports I disregarded--all that valuable company provided information I had no clue about. This novel, well okay, this business book, should be in the hands of every single person whose ever had a job, retirement plan, or a few investments. With his book, Haskins allows everyone an opportunity to learn the language of finance and thereby improve their decision making. The book uses stories to show practical applications. Haskins provides an explainable history about how financial reporting has evolved and why things are the way they are in company documents. Although the information is specific and deals with financial reports and data, it is extremely readable. In fact one could argue that the danger in Haskins' writing is the readability-- he provides information in such a manner that is it indeed easily explained to Grandma!

Author's invitation

If I may, I'd like to share a couple of thoughts about this book, acknowledging that I am the author. This book is a direct outgrowth of 25+ years of teaching non-financial managers and entering MBA students the basics, and the art, of financial reporting at the University of Virginia's highly acclaimed Darden School of Business. The book is written with an eye towards: avoiding the traditional, tedious, process-oriented approach; providing lots of examples from business we are all familiar with; offering scores of easily understood, every-day type analogies; and highlighting for readers the important, easily-remembered keys to becoming financial statement savvy. It is an excellent book for the do-it-yourself investor wanting to understand the story contained within published corporate annual reports. It is an easy read for a busy non-financial business person seeking to better understand their own company's annual report or that of a major competitor or customer. Similarly, it is an ideal resource for entering MBA students seeking a head start on their required accounting course or who want a quick review of the subject's basics. In short, this book is for those who want to understand the key content, basic conventions, and fundamental interpretation of corporate annual financial reports without having to become accountants or financial experts.

A Must Read for All Managers!

Mark Haskins' book, "The Secret Language of Financial Reports", is a must read for every manager. He explains in simple terms how to disect an annual report to learn the true story of a company's performance and potential. Dr. Haskins covers how to read balance sheets, income statements, and statements of cash flow, which are skills every manager should have. Our Fortune 100 company has provided over 400 copies of this book to our managers and has made it required reading for some of our internal business courses, and every student's evaluation of the book has been outstanding. There is no easier read on these topics!

Finally!

Finally, there is a book that explains the details of financial reports in an easy and enjoyable read. Professor Haskins holds your attention as he makes the subject matter easy to understand. This is a great book for those new to financial reporting and those who need to brush up on their skills.

Terrific Book for Both Business Executives and Serious Investors

Professor Mark Haskins is a wonderfully talented teacher and his talents are evident in this book. In a style reflective of how he teaches, he has written a book on financial reports that is fun, informative and easy to read. After spending three decades using financial reports as a business executive, I found a wealth of information in this book that enriched my understanding of financial reports. This book should be required reading for every business executive so they understand all facets of financial reporting, particularly in light of the financial statement attestations required by the Sarbanes-Oxley Act of 2002. Any serious investor will benefit as well by Mark's clear explanations of the assumptions and estimates in financial reports. Bravo to Mark Haskins for an exceptional book!