Annual Reports 101: What the Numbers and the Fine Print Can Reveal About the True Health of a Company PDF
Preview Annual Reports 101: What the Numbers and the Fine Print Can Reveal About the True Health of a Company
OtherAMACOM BooksbyMichaelThomsett TheLandlord’sFinancialToolKit, (AMACOM,2005) TheLittleBlackBookofProjectManagement,2/e, (AMACOM,2002) TheRealEstateInvestor’sPocketCalculator,(AMACOM,2006) This page intentionally left blank Annual Reports 101 This page intentionally left blank Annual Reports 101 Michael C. Thomsett AmericanManagementAssociation NewYork•Atlanta•Brussels•Chicago•MexicoCity•SanFrancisco Shanghai•Tokyo•Toronto•Washington,D.C. SpecialdiscountsonbulkquantitiesofAMACOMbooksare availabletocorporations,professionalassociations,andother organizations.Fordetails,contactSpecialSalesDepartment, AMACOM,adivisionofAmericanManagementAssociation, 1601Broadway,NewYork,NY10019. Tel.:212-903-8316. Fax:212-903-8083. Website:www.amacombooks.org Thispublicationisdesignedtoprovideaccurateandauthoritative informationinregardtothesubjectmattercovered.Itissoldwith theunderstandingthatthepublisherisnotengagedinrendering legal,accounting,orotherprofessionalservice.Iflegaladviceorother expertassistanceisrequired,theservicesofacompetentprofessional personshouldbesought. LibraryofCongressCataloging-in-PublicationData Thomsett,MichaelC. Annualreports101:whatthenumbersandthefineprintcanrevealaboutthetrue healthofacompany/MichaelC.Thomsett. p. cm. Includesbibliographicalreferencesandindex. ISBN-13:978-0-8144-7367-2 ISBN-10:0-8144-7367-9 1. Corporationreports—Evaluation—Handbooks,manuals,etc. I. Title. HG4028.B2T47 2007 332.63(cid:2)2042—dc22 2006017174 (cid:2)2007MichaelC.Thomsett. Allrightsreserved. PrintedintheUnitedStatesofAmerica. Thispublicationmaynotbereproduced,storedinaretrievalsystem,ortransmittedinwhole orinpart,inanyformorbyanymeans,electronic,mechanical,photocopying,recording,or otherwise,withoutthepriorwrittenpermissionofAMACOM,adivisionofAmerican ManagementAssociation,1601Broadway,NewYork,NY10019. Printingnumber 10 9 8 7 6 5 4 3 2 1 C o n t e n t s Introduction Transparency:FactorFiction? 1 Chapter1 TheAccountingDilemma:TheGapinGAAP 5 Chapter2 TheBasicFinancialStatements:WhatYourMamaDidn’tTellYou AbouttheBalanceSheet 28 Chapter3 EssentialRatios:RollingUpYourNumericalSleeves 50 Chapter4 WhatStatementsDoNotReveal:DirtyLittleAccountingSecrets 75 Chapter5 Footnotes,PartOne:AnOverviewoftheRealDisclosures 91 Chapter6 Footnotes,PartTwo:RedFlagsYouCanFindonYourOwn 112 Chapter7 StructureoftheAnnualReport:APublicRelationsDocument 133 Chapter8 TheAuditingRole:AccountingCultureandtheAuditMentality 154 Chapter9 HowtheNumbersAreManipulated:AccountingShellGames 173 vii .................15966$ CNTS 06-27-0613:49:13 PS PAGEvii viii Contents Chapter10 SourcesofFreeInformation:YouDon’tNeedtoPayforHelp 195 Chapter11 ModifyingYourGamePlan:ANewFormofPortfolioManagement 207 Glossary 221 Notes 231 Index 235 Annual Reports 101
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