1.
A financial statement each month is important so the members may see where
2.
• Management should ensure that financial statements and management reports are
3.
Insist on timely and accurate financial statements, and have your accountant explain
4.
Auditors will require a number of schedules to help confirm figures in the financial statements
5.
financial statements, and final y the footnotes – basic information about the company, the
6.
The auditor’s opinion wil state that the financial statements the company is releasing have
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Lack of Timely, Accurate and Meaningful Financial Statements
8.
times the financial statements are too old (not timely), the business owner doesn’t believe they
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Financial Statements Are Not Timely And Accurate
10.
Many times the financial statements
11.
For successful companies, timely and accurate financial statements are the cornerstone of
12.
In any case, it’s important for you to ask questions about your financial statements and how
13.
My father was well-known as an entrepreneur who knew how to read a financial statement
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The financial statements were not provided by Blacker,
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Know that a financial statement audit is not designed to detect fraud
16.
Financial statements are wonderful tools, but in your case they would be inaccurate
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falsified financial statement Max is going to present to the
18.
about the discrepancies in the financial statement, but,
19.
Be prepared to show three consecutive tax returns, financial statements for the business
20.
Barron spent hours preparing financial statements for The Greenbrier,
21.
bank checks and other financial statements that you’re discarding,
22.
figure from the financial statements of a company
23.
After a little research, I spied a financial statement item that was termed,
24.
from financial statements and then determine only one cost - the cost of equity
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however, allows the investor to gauge risk from financial statements without the need to be
26.
of actual values from financial statements for sensitivity analysis
27.
changed to meet the actual demands of financial statements
28.
Moreover, the CAPM gives us freedom from the evaluation of financial statements which
29.
The huge difference between the value shown on companies financial statements and the
30.
financial statements and so on
31.
and how to read Annual Financial Statements
32.
financial statements to the Auditor General’s Office at all
33.
Often more time is spent on preparing a financial statement or submission to the bank manager, than working together with employees on a HR Plan
34.
For example, current rules for financial statements specify that intangible assets such as brand names and copyrights are recorded as assets only when they are purchased from another company, not when they are created internally
35.
There are no accounts, no ledgers, no documents, no files, no evidence of how much money the Rothschilds and Loebs made during and after WW2 because they are completely privately owned, and since they do not sell shares to the public: they do not have to publish their financial statements for anyone to see
36.
When taking out the trash, you need to check if there are any important documents included especially those with personal information such as medical documents, pre-approved card applications, or financial statements
37.
If you opt for mail service, make sure that you know when you will receive the financial statements and other papers
38.
Tear or shred your charge receipts, copies of credit applications, insurance forms, bank checks and other financial statements that you're discarding, expired charge cards and credit offers you get in the mail
39.
Fundamental analysis is the discipline of using financial statements, economic data, or other information to try to determine what the fair value for an asset should be
40.
One mutual fund discovered that a just-named CEO of a prominent financial company had confessed to an associate that he was nervous about taking the job because he couldn’t read financial statements
41.
The borrower should agree to supply the bond-holders with regular operating and financial statements
42.
We are cautioned about manipulation of financial statements and urged to appreciate the qualitative aspects of a business we invest in
43.
Some of this information comes from financial statements
44.
The financial statements of WorldCom, the telecom giant whose bankruptcy filing in the summer of 2002 was at its time the largest ever, illustrate the usefulness of a balance sheet analysis for tracking the financial condition of companies
45.
For example, if the implied returns of a German beer company appear to deviate from those of French, British, and Italian brewers, there is a reasonable chance that the nuances of financial statements were misunderstood and that further analysis of those numbers is required
46.
Some financial statements are not translated into English, especially in relatively small markets such as Norway and the Czech Republic
47.
In his introduction to Part VI, he tears apart the corporate balance sheet and shares his unique insights on this most important of financial statements
48.
” To his credit, Lynch insists that no one should ever invest in a company, no matter how great its products or how crowded its parking lot, without studying its financial statements and estimating its business value
49.
This is a subject which we have covered for laymen in a separate book, entitled The Interpretation of Financial Statements
50.
In the footnotes to the financial statements, determine whether the long-term debt is fixed-rate (with constant interest payments) or variable (with payments that fluctuate, which could become costly if interest rates rise)
51.
By early 2003, after reviewing its previous financial statements, the company announced that it had prematurely recognized profits on equipment sales, improperly recorded the costs of services provided by outsiders, inappropriately booked costs as if they were capital assets rather than expenses, and unjustifiably treated the exchange of assets as if they were outright sales
52.
Never buy a stock without reading the footnotes to the financial statements in the annual report
53.
Be sure to compare the footnotes with those in the financial statements of at least one firm that’s a close competitor, to see how aggressive your company’s accountants are
54.
But Tyco’s financial statements were at least as mind-boggling as its growth
55.
The company’s auditors refused to certify the financial statements for 1969–70, and the shares were suspended from trading on the American Stock Exchange
56.
Dunlap turned out to be a sham who used improper accounting and false financial statements to mislead Sunbeam’s investors—including the revered money managers Michael Price and Michael Steinhardt, who had hired him
57.
One is “pro forma” or “as if” financial statements, which report a company’s earnings as if Generally Accepted Accounting Principles (GAAP) did not apply
58.
3 In 2002, Qwest was one of 330 publicly-traded companies to restate past financial statements, an all-time record, according to Huron Consulting Group
59.
13 We use a nine-month period only because Red Hat’s 12-month results could not be determined from its financial statements without including the results of acquisitions
60.
This is higher than the accounting tax rate reported in Intel's audited financial statements, and it gives Intel no credit for whatever clever management of its tax liabilities it achieved
61.
Furthermore, the financial statement does not include additional R&D-type expenses posted to the cost of goods sold account every time a new fabrication line is put into operation and tinkered with until the output meets the company's standards
62.
Balanced here means that as revenues increase by, say, 10 percent each year, every other item in the financial statements grows by the same percentage
63.
For a value investor like Mario Gabelli, schooled in the Benjamin Graham tradition, the current form of the question he has had to address over the course of his career is this: Has the Internet done away with the netnet stock? When Graham examined stacks of financial statements, searching for his net-nets, he and the people he hired did it the old-fashioned way, by hand
64.
Like many value investors, they are looking for gaps in GAAP-that is, either assets or earnings power that are masked by generally accepting accounting principles and thus not revealed in standard financial statements
65.
In college he studied English literature, not the standard preparation for someone intending to spend more time reading financial statements than Dickens, Lawrence, or Joyce
66.
Heilbrunn found him a superb teacher, and the fact that Graham dissected the financial statements of companies that he was buying for Heilbrunn's portfolio did nothing to diminish Heilbrunn's interest
67.
This approach leads them to focus almost exclusively on the published financial statements that public firms must produce each quarter
68.
Both Schlosses believe that the only way really to know a security is to own it, so they sometimes stake out their initial position and then send for the financial statements
69.
The financial statements are important, no doubt, but so are the footnotes
70.
Both their financial statements and their business models tend to be simple
71.
In addition, an uncharacteristic reliance on examining the financial statements, the “fundamentals” of the financial stocks reinforced such dire conclusions to the point that I allowed it to override my basic price/volume approach to the markets
72.
Companies that used APB 25, the intrinsic value method, were required under GAAP in financial statement footnotes to disclose the far greater expense of the fair value method as contained in FASB 123
73.
The whole dispute revolved around whether disclosure of an ephemeral “expense” ought to be made in the income account or in the footnotes to the financial statements
74.
In the consolidated financial statements of the company prepared in accordance with GAAP, however, the subsidiary’s preferred stock appears to be junior to the parent company’s bank debt
75.
In these instances, we suggest that suitable securities consist, at the minimum, of the issues of companies whose financial statements combine both favorable long-term profits records and strong present financial positions
76.
Bevis, former senior partner of Price Waterhouse and Company, states in his book, Corporate Financial Reporting in a Competitive Economy, “If one were forced to choose from among the financial statements which bears most directly upon the stockholder’s primary interest, it would, of course, be the income statement
77.
But in choosing a starting point within financial statements for an analysis, NAV seems to us to be the better starting point most of the time than accounting earnings
78.
By the relative absence of liabilities either on balance sheet, off balance sheet, in the footnotes to the financial statements, or out there in the world (quality of resources)
79.
In some contexts, consolidated financial statements are useful, but in other, parent and subsidiary financial statements are key
80.
From the perspective of common stockholders in a holding company, the consolidated financial statements present a useful indication of what the overall results and overall resources are for the company
81.
The parent company directly owns only the common stock of its subsidiaries, not the specific assets of the subsidiaries, even though these subsidiary assets are reflected in the consolidated financial statements
82.
Disclosures about “litigation” in Part I of the 10-K Annual Report, Part II of the 10-Q Quarterly Report and in footnotes to audited financial statements can also give valuable clues to the caliber of management and control groups
83.
The company ought to have a strong financial position, something that is measured both by the presence of quality assets and by the absence of significant encumbrances, whether a part of a balance sheet, disclosed in financial statement footnotes, or an element that is not disclosed at all in any part of financial statements
84.
Audited financial statements, including footnotes, are particularly useful in describing and enumerating many of a concern’s encumbrances, albeit some potential encumbrances, such as necessary or desirable capital expenditures, may not be disclosed
85.
For example, an emphasis on financial position could prevent one from investing in airline equities, because of a belief that the industry is dangerously financed (an example of on-balance-sheet liabilities) and would be even if re-equipment programs were modified; in integrated steel and aluminum companies; in many electric utilities, because they may be encumbered with inordinately large capital expenditures requirements (an example of encumbrances that are not disclosed in accounting statements); and in labor-intensive companies with large pension-plan obligations (an example of off-balance-sheet liabilities that are disclosed in financial statement footnotes)
86.
The four main components used in the selection of companies and their equity securities are (1) the company ought to have a strong financial position, something that is measured both by the presence of quality assets and by the absence of significant encumbrances, whether a part of a balance sheet, disclosed in financial statement footnotes, or an element that is not disclosed at all in any part of financial statements; strong financial positions or creditworthiness are a company resource, which provides “insurance” to OPMIs and opportunism to management; (2) the company ought to be run by reasonably honest management and control groups and must operate in markets where regulators provide significant protections for minority investors; (3) there ought to be available to the investor a reasonable amount of relevant information, although in every instance this will be something that is short of “full disclosure”; and (4) the price at which the equity security can be bought ought to be significantly (say 20 percent or more) below the investor’s reasonable estimate of net asset value
87.
The appraisal of an account, such as deferred income taxes payable, is in the province of the users of financial statements, not the preparers of financial statements
88.
Essential for understanding the dynamics of many companies are not only consolidated financial statements but, also, how financial statements are consolidated
89.
A weight of almost 100 percent is given to this going concern approach, one that is forward looking because it impinges on financial statement analysis
90.
Finally, interpreting documents, especially financial statements, takes a fair amount of training; which many analysts seem to lack
91.
A principal problem for analysts who choose not to rely on documents they have intensely scrutinized, especially audited financial statements, is that many analysts involved in passive investing have been defrauded or otherwise victimized, by promoters selling stories with no hard-nosed backup
92.
Corporate reporting of “the numbers” has become so important, and so publicized, it might be helpful to our readers if we commented briefly about how we use and think about financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP) and with International Financial Reporting Standards (IFRS)
93.
The Analysis and Use of Financial Statements, Second Edition, by Gerald I
94.
More important, it recognizes that since financial statements impact these other environments, there are incentives for accounting systems to be used not only to measure the results of decisions but, in turn, to influence these decisions in the first place
95.
Because GAAP imposes relatively rigid sets of rules and are overseen and reviewed by independent professionals who render opinions (public accountants), audited financial statements are often the only numeric reports available to security analysts that give them reliable, objective information prepared in a disciplined setting
96.
Truth or reality is something to be determined by analysts, not by accountants who prepare financial statements in conformity with that relatively rigid set of limiting assumptions known as GAAP
97.
Analysts ought to be given enough information so that they can make financial statements comparable and consistent for their analyses
98.
Notes to the financial statements
99.
It can be taken for granted that large accounting firms are going to press managements, which are responsible for preparing the financial statements reviewed by auditors, to make any negative disclosures that are admissions against interest
100.
Independent auditors of the statements of companies with publicly traded securities are usually very careful in comporting with not only GAAP rules, which cover what is to be disclosed in financial statements, but also Generally Accepted Auditing Standards (GAAS), which cover the procedures to be followed in preparing an audit
