What books are available on Financial Analysis?

I recommend two books that I think are better, one is "Financial Management Analysis (8th Edition)" Author: Robert, this is an MBA textbook, it is very well written, some places are still very funny, and there are many real-life examples. It is both simple and profound, and the management theory of finance is clearly explained.

It is a good primer on financial analysis. The second book is Financial Statement Analysis and Pricing (2nd Edition), which I think is the best I have seen so far. This book has a meaning like "** Analysis", and the author also mentions Graham several times.

I'm reading this book for the second time now, and because the foundation is so poor, a lot of things need to be studied for time. But it's getting better and better. This book is more difficult, so you need to have some financial foundation.

Otherwise, it is difficult to understand, and the exercises at the end of each chapter are very good, and they are all realistic business cases that are worth studying. When I read this book, some of my views will coincide with what Ba Lao said. For example, Ba Lao once said (I can't remember the specifics) that you can't just look at the high return on net assets and high profits, because in the case of high investment and high debt, although the return on net assets and profits are high, they may still be unhealthy and do not really create value.

These views are all deeply analyzed in this book. There were some minor errors in the translation and printing of this book, but it was generally okay because there were too many reports in it, which were inevitable. Of course, if the English is good, just look at the original version.

The frontier of financial accounting research is to make financial profits.

On Zhihu, I saw others recommending Liwang's books on financial analysis, and I was going to look for them one by one because it was almost the New Year and I had more free time.

Xiao Xing's "A Book to Understand Financial Reports" is easy to read, and the teacher uses simple questions to tell the story.

For students who have no professional foundation, this book can be used as an enlightenment book for financial analysis, and it will not feel obscure at all; For students with a professional foundation, this book can help you straighten out the relationship between the three financial statements and deepen your understanding of financial ratios.

For me, there are several knowledge points in the book that impress me, all of which were ignored or not well understood in the previous study of "Financial Management", and reading this book made me suddenly open up and understand the meaning of financial indicators.

1. To judge the profitability of an enterprise, it is not only based on efficiency, but also on efficiency.

Net Profit Total Assets = Return on Total Assets = Revenue Total Assets * Net Profit Income.

As can be seen from the formula, efficiency * benefit = return on total assets.

Return on Total Assets, abbreviated as ROA, is used to evaluate the overall profitability of a company using all assets.

Return on total assets is the combined return on investment for shareholders and creditors.

2. Return on equity = net profit, shareholders' equity, ROE

Reflects the ability of shareholders to obtain net income from investment.

I can't help but think of the DuPont analysis system: equity net profit margin = net profit shareholders' equity = net profit operating income * operating income total assets * total assets shareholders' equity.

Efficiency * Effectiveness * Financial Leverage (Equity Multiplier).

3. When analyzing the problem, it can also be analyzed from the efficiency (turnover rate) and benefit (profit margin).

4. Pay attention to cash flow, that is, pay attention to risk. If the operating cash flow is negative, it is possible that the business has been transferred and the investment has begun.

5. Measurement of return on investment.

Return on invested capital = net operating profit after tax Cost of capital.

The net profit after tax is deducted from income tax, but not interest, so that the net profit after tax includes the net profit to be paid to shareholders and the interest income paid to creditors.

Excess rate of return = return on invested capital - cost of invested capital.

Sometimes there is still a kind of financial indicators, formulas, and ratio calculations that have been learned, but they are not proficient in using them, and they will always forget. After that, I will read Mr. Tang Dynasty's "Teach You to Read Financial Reports by Hand", and then I will write about the new things I have learned.

I hope that all the accumulation and efforts will not be in vain, and in the future, I will be able to have the ability to think and analyze independently and produce a complete and meaningful analysis report. ️

There are many methods of financial analysis, mainly including trend analysis, ratio analysis, and factor analysis.

1) Trend analysis method Trend analysis method, also known as horizontal analysis method, is a method to compare the same indicators in two or consecutive financial reports to determine the direction, amount and magnitude of their increase and decrease to illustrate the trend of changes in the financial status and operating results of enterprises.

2) Ratio analysis method Ratio analysis method refers to an analysis method that uses the ratio of two related values in the financial statements to reveal the financial status and operating results of an enterprise.

3) Factor analysis method Factor analysis method, also known as factor substitution method and chain substitution method, is an analysis method used to determine the impact of several interrelated factors on the analysis object one by one comprehensive financial indicators or economic indicators. The starting point for this approach is to determine the effect of individual changes in each factor sequentially, assuming that none of the other factors have changed, when several factors have an effect on the object of analysis.

Financial analysis starts with financial statements, and the financial analysis system is recommended.

I also looked for it just now, there are a few domestic financial analysis books that you can look at, the first is Huang Shizhong's "Financial Statement Analysis Theory Framework, Methods and Cases", the second is Xiao Xing's "A Book to Understand Financial Reports", and the third is Jiang Guohua's "Financial Statement Analysis and Investment", which can be found on Douban.

The frontier of financial accounting research is to make financial profits.

Financial Statement Analysis: Theory, Framework, Methodology and Cases

Understanding financial statements is more important than knowing how to invest: the analysis of corporate financial statements.

Rookie will learn all the financial statements as soon as they learn it

Analysis of the Company's Financial Statements