Financial Statement Analysis and Security Valuation

I love Penman's research. He has contributed significantly to both the accounting and financial research. His book is overall great but some parts he skips the logic or certain steps, leaving the reader a bit puzzled. Examples are good. Hopefully, the next version will not have certain jumps but overall great book that teaches you how to analyze and value firms.

I have the 2009 version and have read it multiple times from cover to cover. The 2012 version has enough new and relevant material to completely justify the upgrade. I like some of the simplifications that the author has done and I especially like the addition of Chapter 7. Overall - fantastic book.

worked well for class!

The seller was excellent. The book arrived practically new and way before we were expecting it. Now, the content. I should tell you right away that if you do not want to do tough research and valuation of companies, don't buy the book. It is not for the generalist, it is for people who want to get into the nitty gritty of financial statements. Now, so far, the book has been FANTASTIC. I mean that. Too often, investment texts are 'up in the air'. All theory and nothing tethering its assertions to reality. Not this. From the get go, the book is about people trying to beat the market. It is practical, all, practical. It covers a number of the usual valuation models sufficiently enough (but what more do you need, these models are all very basic, shouldn't complicate things). Where it really shines is in the accounting. This is the best 'bridge' I've seen between accounting and valuation. Period. The only reason this is not a five-star is that I've not finished the book. :)

Delivered quickly, and with what was promised. ....pleased.

Yummy. i love it

This text book is aweful and full of errors, it is very hard to follow since you can't tie the numbers back to the chapter they reference previously calculated. The spreadsheet for the Nike case used throughout the book is full of typed in numbers instead of linking the cell to a calculation as a diligent accountant would do! Save yourself time, money and your sanity and choose another book!

Hello I thank you as the book is valuable material to my class l am learning a lot with it.

It's a great book with insight research and findings, it really helps a lot!

wish this book help me pass the final exam