Understanding Financial Statements, Global Edition

About our authors Lyn M. Fraser has taught undergraduate and graduate classes in financial statement analysis at Texas A&M University and has conducted numerous seminars on the subject for executive development and continuing education courses. A Certified Public Accountant, she is the author of articles in the Journal of Accountancy, the Journal of Commercial Bank Lending, the Magazine of Bank Administration, and the Journal of Business Strategies. She has been recognized for Distinguished Achievement in Teaching by the Former Students Association at Texas A&M University and is a member of Phi Beta Kappa. Lyn's publications also include a mystery novel, Debits and Credits (Mainly Murder Press). Aileen Ormiston has taught MBA, honors, and online courses in the Accounting Department in the W.P. Carey School of Business at Arizona State University. She received her bachelor's degree in accounting from Michigan State University and a master's degree in finance from Texas A&M University. Prior to embarking on her teaching career, Aileen worked in cost accounting and as an auditor in public accounting. She taught accounting and general business courses for 30 years at Mesa Community College, one of 13 universities and colleges that received a grant from the Accounting Education Change Commission. As a result of her pioneering work in changing accounting education, she was the recipient of the “Innovator of the Year” award from the League for Innovation in the Community College. For her service to honors students, Aileen was named a Phi Theta Kappa mentor.

Financial Statements: An Overview
The Balance Sheet
Income Statement, Comprehensive Income, and Statement of Stockholders' Equity
Statement of Cash Flows
The Analysis of Financial Statements

APPENDICES

Summary of Financial Ratios
Solutions to Self-Tests
Glossary